Lab Automation Market Size, Share, Growth Analysis, By Process (Continuous Flow, Discrete Processing), By Product (Drug Discovery, Diagnostics, Genomics,), By Automation Type (Total Automation Systems and Modular Automation Systems), By Region - Industry Forecast 2024-2031

North America dominated the global lab automation market in 2021 and is expected to maintain its dominance during the projected period. This can be caused due to the region's established healthcare infrastructure, which has prompted a rise in the use of lab automation technologies. Additionally, the local presence of significant firms and the favourable reimbursement environment in this region are promoting the market adoption of new solutions. In addition, growing investments in the drug discovery and genomics markets are anticipated to fuel market expansion for the lab automation industry due to the presence of significant pharmaceutical corporations in this region.

Due to the rising need for lab automation in developing nations like China and India, the market in Asia Pacific is anticipated to rise at an exponential rate over the forecast period. This area has shown profitable growth, which is thought to be a result of increased efforts by regional and international businesses to make new lab automation technologies available in these potential markets. For the major players in the laboratory automation industry, the Asia-Pacific region offers attractive potential. Increased demand for laboratory automation systems, an increase in the number of pharmaceutical businesses, and increased knowledge of sophisticated laboratory automation systems all contribute to the market's expansion in this region. Additionally, factors include expanding hospitals with cutting-edge medical equipment, better healthcare infrastructure, the growing R&D industry, and an increase in healthcare reforms fuel the market growth.