Lab Automation Market Set to Grow to $11.6B by 2030
Grand View Research announced the projected growth for the market in a new report.
According to a new report from Grand View Research, the lab automation market is set to expand over the coming years. In a press release, the research group announced that the market is expected to grow to $11.6 billion by the year 2030.
The report cites multiple reasons for this, including an increase in the number of complex processes performed in modern labs. Modular automation systems accounted for the largest revenue share in 2022, likely due to the ability to combine different systems to fit a lab’s unique needs.
Another factor contributing to the growth is the ongoing adoption of digitization in the medical field and connectivity trends. It’s common for new automated lab equipment to connect with cloud-based platforms, which allows for an ease in the transfer of data.
The report also notes that North America was the largest global market for automated lab equipment and had a revenue share of 35.76% in 2022.
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