IMARC Group, a leading market research company, has recently released a report titled “India Laboratory Automation Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India laboratory automation market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the India Laboratory Automation Market?
The India laboratory automation market size reached US$ 86.2 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 146.9 Million by 2028, exhibiting a growth rate (CAGR) of 9.2% during 2023-2028.
What is Laboratory Automation?
Laboratory automation is a multi-disciplinary strategy to research, develop, optimize, and capitalize on technologies in the lab that enable new and improved processes. It encompasses a range of devices, software, and methodologies that reduce manual steps and enhance data consistency. This automation covers various aspects of the laboratory including but not limited to robotics, liquid handling devices, the software to manage and analyze data, digital imaging, and sensors for real-time monitoring of experiments. The primary goal of laboratory automation is to streamline routine laboratory procedures by leveraging hardware and software that can perform tasks such as sample preparation, handling, and analysis more efficiently than manual labor. This allows scientists and researchers to focus on complex tasks that require human intervention and expertise.
Request for a PDF sample report: https://www.imarcgroup.com/india-laboratory-automation-market/requestsample
What are the Growth Prospects and Trends in the India Laboratory Automation Industry?
The rapid growth in the healthcare sector represents one of the key factors driving the growth of the market across India. This is primarily attributed to rising health awareness, increasing prevalence of chronic diseases, and a growing middle class with higher disposable incomes which are leading to a demand for faster, more accurate diagnostics and research. The Indian government is launching various initiatives to improve healthcare services, including the expansion and modernization of public health facilities, which often includes investment in laboratory automation to improve diagnostic capabilities. The growing pharmaceutical industry is moving towards more research-intensive activities which are contributing to the growth of the market. Automation is essential for high-throughput screening, drug discovery, and quality control processes within this sector. There is a growing focus on research and development (RD) in India, with increased investment from both the government and private sectors.
Automated laboratories are essential for conducting complex RD activities efficiently and effectively. India’s investment in education is resulting in a large pool of skilled professionals in the sciences and engineering who can operate and maintain sophisticated automated laboratory systems. As technology becomes more accessible and affordable, more laboratories across the country can invest in automation systems. While labor in India is relatively cost-effective, the efficiency, precision, and speed of automated systems make them a valuable investment.
Automation also addresses issues of reproducibility and human error, which are critical in high-stakes testing environments. The integration of Laboratory Information Management Systems (LIMS) and other advanced IT solutions is streamlining the transition to automation for many laboratories, thus making the process more attractive and feasible. India’s laboratory services are increasingly being integrated into global networks, which often require standards and practices that are best achieved through automation. India is becoming a hub for outsourced clinical trials and research activities from around the world, which is creating a demand for automated laboratories to provide services that meet international standards. As local and international players compete in the Indian market, the drive to adopt automation becomes a key differentiating factor, thus encouraging further adoption.
What is Included in Market Segmentation?
The report has categorized the market based on type, equipment and software type, end user and region.
Breakup by Type:
- Modular Automation
- Whole Lab Automation
Breakup by Equipment and Software Type:
- Automated Clinical Laboratory Systems
- Workstations
- LIMS (Laboratory Information Management Systems)
- Sample Transport Systems
- Specimen Handling Systems
- Storage Retrieval Systems
- Automated Drug Discovery Laboratory Systems
- Plate Readers
- Automated Liquid Handling Systems
- LIMS (Laboratory Information Management Systems)
- Robotic Systems
- Storage Retrieval Systems
- Dissolution Testing Systems
Breakup by End User:
- Biotechnology and Pharmaceutical Companies
- Hospitals and Diagnostic Laboratories
- Research and Academic Institutes
Regional Analysis:
- North India
- West and Central India
- South India
- East India
Ask Analyst for Customization and Explore full report with TOC List of Figures: https://www.imarcgroup.com/request?type=reportid=3705flag=C
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
Phone: +1-631-791-1145
Address: 134 N 4th St
City: Brooklyn
State: NY
Country: United States
Website: https://www.imarcgroup.com
