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Global Laboratory Automation Market valued at $4.5 billion (2021), is set to witness a growth of 8%
Integration of Automation, AI, & ML in laboratory workflows, transformative benefits of laboratory automation, technological advancements in automation & increased spending in healthcare are key factors driving the Laboratory Automation Market Growth
Automation, AI, and Machine Learning (ML) set to bolster the Laboratory Automation Market Growth
Integration of AI and automation in laboratory workflows not only reduces several manual processes of lab testing but also streamlines logistics and accessioning, and helps optimize delivery and use of resources. The automation of processes, workflows, and data enables laboratories to reduce downtime, increase stability and optimize efficiency.
Machine learning is also expected to play a critical role in developing effective molecular diagnostics. Machine learning-based diagnostics will be the key to simplifying and automating the R&D process, allowing scientists to respond rapidly to testing needs.
Citing these potential benefits, laboratories across the globe are leveraging AI/ML to automate workflows, triage and prioritize samples, distinguish between conditions, authenticate results, and perform quality checks.
"The advantage of automation is that instruments are more powerful, can aggregate data more quickly, and can find analytical insights that otherwise wouldn't be found." - CEO, Diagnostics Technology Company, United States
Skill Gap in Technology, Shortage of Skilled and Trained Healthcare Professionals and Sluggish Adoption of Automation by Small and Medium-Sized Laboratories - Major Deterrents for the Market.
The skill gap in handling state-of-the-
Due to high maintenance & service costs associated with laboratory informatics solutions, the adoption of laboratory automation solutions has been slow among small & medium-sized laboratories.
Competitive Landscape Analysis: Laboratory Automation Market
The global Laboratory Automation Market is marked by the presence of leading market players such as Thermo Fisher Scientific, PerkinElmer, Agilent Technologies, Danaher Corporation, Gilson, BMG Labtech, Aurora Biomed, and others.
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