Global Lab Automation Market: Industry Analysis, Size, Share,

Mayurikathade15 Nov, 2021Business

Global Lab Automation Market size was valued at US$ 4.3 Bn. in 2019 and the total revenue is expected to grow at a CAGR 5.61 % through 2020 to 2026, reaching nearly US$ 6.30 Bn. by 2026. Global Lab Automation Market Dynamics Adoption of lab automation and investment in R&D to drive the market At present time, the lab automation system is widely adopted to reduce the workload and improve the quality and performance of end-use industries. The biotech and pharma companies are investing a large part of their sales in R&D activities to meet the current need and remain competitive in the market. The pharma companies are promptly adopting lab automation equipment such as automated workstations, robotic systems, etc. to automate the experiment process. However, the Outburst of coronavirus led the government of various countries to invest more in the R&D of new drugs, vaccines, etc., which is expected to boost the market.