Life Science Laboratory Automation Market to See Robust Growth Through 2024, an Industrial Info Market Brief

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Automation systems are steadily playing a significant role in the laboratories of commercial biotechnology/pharmaceutical firms, hospitals, diagnostic/testing facilities, non-profit research institutes, as well as academic institutions. Laboratory automation curtails human errors and helps the laboratories deliver results in a timely, accurate and actionable manner.

According to IMARC Group, the global laboratory automation market reached a value of $ 4.55 billion in 2018. The market value is projected to reach $6.2 billion by 2024, exhibiting a compound annual growth rate of 5.4% during 2019-2024.

Industrial Info's global Pharma/Biotech platform is tracking 1,780 commercial pharma/biotech, institutional and non-profit laboratories with 13,093 functional management contacts, which are performing 1,973 capital projects worth $120.66 billion.