The global laboratory automation systems market is expected to witness a CAGR of over 7% during the forecast period. Certain factors that are driving the market growth include increased use of software services for better analysis, rising use of automated solutions in healthcare, and high demand for protein crystallization and crystallography. As per the latest report publishes by the Technavio Research The laboratory automation systems market size will grow USD 1.07 billion during 2019-2023. The report offers an analysis of the market based on end-user (pharmaceutical and biotechnology companies, clinical and reference laboratories, and academic institutes and research organizations) and presents in-depth insights on the growth prospects of the market across geographic regions such as Asia, Europe, North America, and ROW.
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Fully automated laboratory solutions can help save cost and generate accurate results. Automation replaces manually intensive tasks, which allow researchers to devote more time to analysis and data interpretation, thereby helping in saving the time of healthcare professionals. Automation solutions in healthcare, which include automated systems, software, and other services, also improve laboratory productivity, as they reduce the chances of human errors.
The data-driven insights are used for the improvement and optimization of laboratory test performance. They help laboratories handle the movement of specimens across disciplines and generate results quickly. The efficiency and effectiveness provided by these systems will increase the adoption of laboratory automated systems. Hence, the rising use of automated solutions in healthcare owing to its various benefits is expected to drive the growth of laboratory automation systems market during the forecast period.
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The increase in production of vaccines is due to the increasing awareness of the importance of immunization. Vaccines prevent infectious diseases like hepatitis B virus (HBV), measles, and diphtheria. The vaccines used in the universal program are effective in targeting, controlling, and eliminating illness. Also, the production of vaccines has increased due to rising awareness about vaccination, increasing investments by companies, and the outbreak of several diseases.
The demand for the laboratory automation system is increasing, as they help in improving the quality of vaccine production. Hence, the growing demand for vaccines will increase the demand for laboratory automation systems during the forecast period.