India Laboratory Automation Market Size Set to Touch USD 140 Million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India laboratory automation market size at USD 85.41 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India laboratory automation market size to grow at a significant CAGR of 8.88% reaching a value of USD 139.25 million by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India laboratory automation market size at USD 85.41 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India laboratory automation market size to grow at a significant CAGR of 8.88% reaching a value of USD 139.25 million by 2029. The rising usage of robotic systems and automated workflows in laboratories to improve efficiency and accuracy is a major factor driving the growth of the India laboratory automation market. Also, the requirement for faster and more exact results is driving an increase in demand for high-throughput screening and sample processing solutions. Further, there is a growing emphasis on incorporating modern technologies such as artificial intelligence and machine learning into laboratory automation, allowing for data-driven decision-making and predictive analytics. To accommodate varied laboratory procedures, there is a shift towards modular and scalable automation solutions. There is an increase in the use of cloud-based laboratory information management systems for data storage, analysis, and collaboration.
India Laboratory Automation Market – Overview
The use of modern technologies and robots to streamline and improve the efficiency of laboratory operations and workflows is referred to as laboratory automation. It entails combining instruments, software, and robotic systems to automate operations like sample preparation, analysis, and data administration. The goal of laboratory automation is to eliminate human error, boost productivity, and improve the accuracy and repeatability of results. It allows scientists and researchers to handle bigger volumes of samples with greater precision, perform difficult experiments with greater precision, and expedite the pace of scientific discovery. Laboratory automation frees up crucial time for scientists to focus on data analysis and interpretation by automating mundane processes.
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Impact of COVID-19 on India Laboratory Automation Market
The COVID-19 pandemic significantly impacted India laboratory automation market, ushering in a new era of technological advancements and growth. With the urgent need for efficient and high-throughput testing capabilities, laboratories across the country have increasingly adopted automation solutions. Automated systems, robotic platforms, and artificial intelligence-driven processes have revolutionized sample processing, analysis, and data management, improving accuracy, speed, and scalability. The pandemic has acted as a catalyst, driving investments in laboratory automation technologies, enabling faster testing, reducing human error, and enhancing overall laboratory efficiency. As India continues its fight against the virus, the laboratory automation market is poised for further expansion and innovation in the post-pandemic era.
India Laboratory Automation Market – By Application
On the basis of application, India laboratory automation market is divided into Drug Discovery, Clinical Diagnostics, Genomics Solutions, Proteomics Solutions, and Biobanking segments. The largest one in terms of market size and significance is the Clinical Diagnostics segment. The clinical diagnostics segment plays a crucial role in the detection, diagnosis, and monitoring of diseases, making it a vital component of healthcare systems. With the increasing prevalence of diseases and the need for efficient and accurate diagnostic solutions, the demand for laboratory automation in the clinical diagnostics segment has been steadily growing in India. The implementation of automated systems and advanced technologies has significantly improved the speed, accuracy, and efficiency of clinical diagnostic procedures, making it a prominent area of focus in the Indian laboratory automation market.
Competitive Landscape
India laboratory automation market is highly competitive. Major companies in the market include Siemens Healthineers, Thermo Fisher Scientific, Agilent Technologies, PerkinElmer, Bio-Rad Laboratories, Tecan Group Ltd, Hamilton Company, Beckman Coulter, Promega Corporation, and Roche Diagnostics India. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the India laboratory automation market.
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