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Europe Laboratory Automation Market Forecast 2021-2028

KEY FINDINGS
The Europe laboratory automation market is expected to grow with a CAGR of 5.79%, during the forecast period of 2021 to 2028. The key market growth drivers include the availability of innovative automated laboratory systems, the preferable use of automation in pharmaceutical companies and research and development laboratories, as well as the presence of well-developed healthcare infrastructure, and medical professionals.

MARKET INSIGHTS
The Europe laboratory automation market growth is evaluated by analyzing Germany, France, the United Kingdom, Italy, Poland, Russia, Belgium, and the rest of Europe. France is one of the largest consumers of pharmaceutical products, globally, and among the most complex and intricate markets to commercialize pharmaceutical products. The country also accounts for the world's highest medicines' consumption, per capita. Moreover, France is the second-largest market for medical care across Europe, harboring a population of 65 million, out of which, 11 million people are over the age of 65. Therefore, the country's research in the pharmaceutical sector is anticipated to depict a growing trend.
As the largest pharmaceutical producer in Europe, Italy's production value was more than 32 billion euros, in 2018. This figure has been steadily increasing in recent years. Additionally, Italian companies operating across the pharmaceutical division employ more than 66,000 individuals, with the majority of work professionals being highly skilled and educated. In 2018, these firms registered a turnover of 29 billion euros, thereby contributing towards Italy's economy with nearly 9.5 billion euros. Thus, such factors are projected to fuel the market growth, during the forecast period.

COMPETITIVE INSIGHTS
Distinguished companies operating in the market include Abbott Laboratories, Siemens Healthineers AG, Synchron Lab Automation, Thermo Fisher Scientific, etc.

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Europe Laboratory Automation Market Forecast 2021-2028
Published By :Inkwood Research
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