Clinical Lab Automation Market

1. o Clinical Lab Automation Market to be Worth $4.01 Billion by 2031

2. Global XXX Market – 2024-2031 Meticulous Research®—a leading global market research company, published a research report titled, ‘Clinical Lab Automation Market Size, Share, Forecast, & Trends Analysis by Product (Liquid Handling, Nucleic Acid Purification System, Microplate Reader, Automated ELISA, Software), End User (Hospitals, Diagnostic Laboratories) –Global Forecast to 2031.’ The Clinical Lab Automation Market is projected to experience substantial growth, with its value anticipated to reach $4.01 billion by 2031, growing at a CAGR of 7.8% from 2024 to 2031. This growth can be attributed to several factors, including the rising global geriatric population, increasing prevalence of infectious diseases, and technological advancements in clinical laboratory instruments. Additionally, the increasing demand for automated instruments, advancements in molecular diagnostics, and growth in emerging economies present significant opportunities for market players. Clinical Lab Automation Market Growth Drivers Increasing Prevalence of Infectious and Chronic Diseases The global prevalence of infectious diseases continues to rise, driven by increased cross- border travel and interconnectedness. According to the World Health Organization (WHO), an estimated 10.6 million people contracted tuberculosis (TB) in 2021, a 4.5% increase from 2020. Furthermore, approximately 1.6 million people died from TB in the same year. The burden of drug-resistant TB also saw a rise, with 450,000 cases of rifampicin-resistant TB recorded in 2021. Additionally, the global number of people living with HIV reached 38.4 million in 2021, up from 33.6 million in 2015. Diagnostic tests are crucial for managing these diseases, driving the demand for automated diagnostic devices and products. Shortage of Skilled Professionals Leading to Increased Use of Automated Systems Healthcare institutions face a significant shortage of skilled laboratory professionals. The U.S. Bureau of Labor Statistics projects a 5% growth in demand for clinical laboratory technicians and technologists from 2022 to 2032. This demand is fueled by an aging workforce and a decreasing number of accredited training programs. To address this challenge, laboratories are increasingly adopting automated systems such as automated PCR instruments and analyzers, which have seen heightened utilization since the COVID-19 pandemic. Companies like Clear Labs, Inc. offer fully automated next-generation sequencing platforms, enhancing clinical diagnostics efficiency. Clinical Lab Automation Market Trends Increasing Applications of Next-Generation Sequencing Technology Next-generation sequencing (NGS) technology has drastically reduced DNA sequencing costs and revolutionized genetic disease diagnostics. NGS allows for the simultaneous analysis of hundreds of genes, enabling comprehensive insights into complex diseases. This Page 1 of 4 © Meticulous Research| sales@meticulousresearch.com

3. Global XXX Market – 2024-2031 technology has gained significant traction in diagnosing infectious, immunological, and hereditary disorders. The adoption of automated NGS instruments in clinical settings offers benefits such as shorter turnaround times, reduced manual intervention, faster and more accurate results, and minimized risk of contamination. Incorporation of Artificial Intelligence (AI) in Automated Instruments Clinical laboratories are increasingly integrating artificial intelligence (AI) to manage incomplete and imprecise information. AI facilitates workflows, enhances operational decision-making, and reduces the need for a large workforce. For example, in September 2022, GE Healthcare launched the AI-powered Cath Lab – Optima IGS 320 in India, which optimizes image and dose parameters in real-time, allowing clinicians to focus on patient care. AI also plays a role in quality control, predictive analytics, and data integration, driving the demand for clinical lab automation instruments. Clinical Lab Automation Market Opportunities Use of Clinical Lab Automation in Emerging Economies Emerging economies are increasingly adopting automated instruments in clinical laboratories and hospitals, even with limited resources and funding. In 2021, the Ministry of Health & Family Welfare in India reported 19,33,381 tuberculosis patients, up from 16,28,161 in 2020. Innovations such as the MyLab Compact device by MyLab Discovery Solutions Pvt Ltd. allow for fully automated TB detection within two hours, enhancing diagnostic capabilities. Such advancements in developing regions create significant opportunities for the growth of clinical lab automation instruments and services. Clinical Lab Automation Market Analysis: Key Findings By Product: Systems Segment to Dominate The clinical lab automation market is segmented into systems and clinical lab automation software. The systems segment is expected to dominate in 2024, accounting for 84.3% of the market share. This dominance is due to the benefits of automation systems, which streamline procedures, reduce manual intervention, and enhance laboratory efficiency. Automated systems mitigate repetitive tasks and errors, leading to increased throughput and improved test result quality. By End User: Hospital Laboratories Segment to Lead End users of clinical lab automation include hospital laboratories, diagnostic laboratories, and other end users. The hospital laboratories segment is expected to hold the largest Page 2 of 4 © Meticulous Research| sales@meticulousresearch.com

4. Global XXX Market – 2024-2031 market share of 49.6% in 2024. Automation in hospital laboratories minimizes human intervention, improves diagnostic test ordering, testing, and reporting, and enhances overall efficiency. Factors such as rising healthcare expenditures, the prevalence of chronic diseases, and increasing sample loads in hospitals drive the demand for lab automation systems. Geographical Analysis North America to Dominate in 2024 North America is projected to hold the largest share of 40.4% in the clinical lab automation market in 2024, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The region's dominance is attributed to the high demand for automation due to the rising prevalence of various diseases, growth in the healthcare sector, increasing awareness of early disease diagnosis, high healthcare expenditure, and the adoption of advanced diagnostic instruments. Asia-Pacific to Register the Highest CAGR The Asia-Pacific region is expected to register the highest CAGR of 9.0% during the forecast period. The market growth in this region is driven by increased investments in healthcare infrastructure, the need to manage infectious diseases, rising demand for clinical testing, supportive government initiatives, and the establishment of more diagnostic laboratories. Conclusion The clinical lab automation market is set for significant growth, driven by technological advancements, increasing prevalence of diseases, and the rising demand for efficient diagnostic solutions. By leveraging these growth drivers and addressing challenges, the market is poised to achieve substantial advancements and improvements in healthcare diagnostics. Key Players The key players profiled in the clinical lab automation market report are Thermo Fisher Scientific, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S.), Revvity, Inc. (Formerly known as PerkinElmer, Inc.) (U.S.), F. Hoffmann-La Roche AG (Switzerland), Agilent Technologies, Inc. (U.S.), Waters Corporation (U.S.), Tecan Group Ltd. (Switzerland), Siemens Healthineers AG (Germany), Becton, Dickinson, and Company (U.S.), Abbott Laboratories (U.S.), Hudson Robotics, Inc. (U.S.), and Hamilton Company (U.S.). Geographic Review Page 3 of 4 © Meticulous Research| sales@meticulousresearch.com

5. Global XXX Market – 2024-2031 This research report analyzes major geographies and provides a comprehensive analysis of the market in North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America and the Middle East & Africa. In 2024, North America is expected to account for the largest share of the clinical lab automation market, followed by Europe. However, Asia Pacific is slated to register the largest CAGR during the forecast period. The growth of this market is primarily driven by the increasing investment by healthcare providers towards infrastructure improvement, the need to manage the growing burden of infectious diseases, the rising demand for clinical testing, supportive government initiatives to improve the accessibility to diagnostic services, and the need to establish more diagnostic laboratories. Download Sample Report Here @ https://www.meticulousresearch.com/download- sample-report/cp_id=5762 Key questions answered in the report- •Which are the high-growth market segments in terms of product, end user, and region/country? •What was the historical market for clinical lab automation across the globe? •What are the market forecasts and estimates for the period 2024–2031? •What are the major drivers, restraints, challenges, opportunities, and trends in the global market of clinical lab automation? •Who are the major players in the global clinical lab automation market? •What is the competitive landscape like, and who are the market leaders in the global clinical lab automation market? •What are the recent developments in the clinical lab automation market? •What are the different strategies adopted by the major players in the clinical lab automation market? •What are the geographical trends and high growth regions/countries? Contact Meticulous Email- sales@meticulousresearch.com Contact Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Us: Research® Sales- +1-646-781-8004 Page 4 of 4 © Meticulous Research| sales@meticulousresearch.com