Category: Technology

The global laboratory automation market is estimated to display an upward trend, growing at a CAGR of 5.14% over the forecast period 2021-2028. The market gathered revenue worth $4831 million in 2020, and is likely to attain $6555 million by 2028. Major factors, such as better option than non-automated laboratories, the advancement of laboratory systems, and the rise in the R&D sector, are boosting the growth of the market. Further, the surge in investments in pharma and biotech companies, coupled with increasing demand for high accuracy with less turnaround period, are opportunities that can be leveraged by the market to reach its projected growth.