March 05, 2019
WELLESLEY, Mass., March 05, 2019— A new report from BCC Research, “Laboratory Automation Systems and Processes: Global Markets and Technologies Through 2023,” estimates that by 2023, the global market will reach $29.2 billion, up from $21.1 billion in 2018, indicating a compound annual growth rate (CAGR) of 6.8%.
Laboratory automation is the application of technology developments in software, engineering and process analysis to help biological and chemical laboratories operate without having to rely completely on human labor and to enable functions that are unfeasible to accomplish with human labor alone.
“Growth will be driven by novel technologies, including 3D bioprinting and organoids, as well as by novel applications of existing technologies such as open-source automation and the evolution of total laboratory automation into new areas such as academic research and environmental laboratories. These advances will allow laboratories to perform work in innovative ways, making them more productive and useful. The technologies will also change the structure of workforces in biological and chemical laboratories,” said BCC Research analyst Todd Graham.
Liquid Handling and Sample Preparation Is Slow-Growing Sector
While the global laboratory automation market is growing at a rapid rate, there is one sector that is seeing slow growth: liquid handling and sample preparation, which will grow from $8.6 billion in 2018 to $10.5 billion in 2023, with a CAGR of 4.2%. Slowing this sector’s growth is its size, relative maturity and changes in laboratory structure, which will limit growth opportunities, as more complex laboratories are limiting the amount of purchases of relatively simple liquid handling equipment.
Editors/reporters requesting analyst interviews should contact Eric Surber at email@example.com.
Laboratory Automation Systems and Processes: Global Markets and Technologies Through 2023( PHM201A )
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.