Impact of Robotics and AI in Lab Automation: Market Size and Forecast

The global lab automation market is projected to reach USD 7.1 billion by 2028 from USD 5.1 billion in 2022, growing at a CAGR of 5.8% during the forecast period. Rising technological advancements primarily drive the growth of this market in lab automation, rise in demand for miniaturize process equipment further supports the market growth. However, higher initial investment impedes the market growth. However, the slow adoption of lab automation by some laboratories and the long waiting period for workflow implementation are expected to restrain the market growth.

The lab automation business is very competitive, with both established companies and newcomers competing for the same market share. As of 2022, the key players operating in the global lab automation market are Thermo Fisher Scientific (US), Tecan Group (Switzerland), Danaher Corporation (US), Agilent Technologies (US), F. Hoffmann-La Roche (Switzerland), PerkinElmer (US), Eppendorf (Germany), Becton, Dickinson and Company (US), Waters Corporation (US), Siemens Healthineers (Germany), Abbott Laboratories (US), bioMérieux (France), Endress+Hauser Group (Switzerland), Hamilton Company (US), and Hudson Robotics (US) among others.

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