Market Size –
The laboratory informatics market size has grown strongly in recent years. It will grow from $3.63 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to rise of electronic lab notebooks, laboratory automation, growing pharmaceutical r&d activities, integration of laboratory systems, increasing complexity of research.
The laboratory informatics market size is expected to see strong growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increased adoption of cloud-based solutions, mobile informatics solutions, globalization of research collaborations, data standardization initiatives, emphasis on environmental monitoring, remote access and virtualization.. Major trends in the forecast period include advancements in data visualization tools, cross-platform integration, enhanced user experience, exploration of blockchain technology.
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Scope Of Laboratory Informatics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing need for laboratory automation is expected to propel the growth of the laboratory informatics market during the forecast period. The frequent occurrence of human errors in laboratory operations led laboratory organisations to shift towards automated solutions. For instance, according to a study published by AZoLifeSciences, 30-86% of pre-analytical in laboratories are associated with human error. Laboratory automation is a process which utilises automated laboratory instruments and advanced analytical software to deliver precise, accurate results at a large scale. It provides improved accuracy and reliability of the data by lowering overall costs associated with manual operations. Therefore, the rising demand for laboratory automation is expected to drive the laboratory informatics market during the forecast period.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The laboratory informatics market covered in this report is segmented –
1) By Type: Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Laboratory Execution Systems (LES), Enterprise Content Management (ECM), Scientific Data Management Systems (SDMS)
2) By Component: Services, Software
3) By Deployment Model: On-premise, Cloud-based, Remotely Hosted
4) By Industry: Life Sciences Industry, Chemicals Industry, Food & Beverage and Agriculture Industry, Petrochemical Refineries and Oil & Gas Industry, Environmental Testing Laboratories, Other Industries
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Regional Insights –
North America was the largest region in the laboratory informatics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laboratory informatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the laboratory informatics market report are Thermo Fisher Scientific Inc., LabVantage Solutions Inc., LabWare Inc., STARLIMS Corporation, LabLynx Inc., Waters Corporation, Autoscribe Informatics, LABWORKS LLC, Cerner Corporation, McKesson Corporation, ID Business Solutions Limited, Arxspan LLC, Kinematik Ltd., RURO Inc., Accelerated Technology Laboratories Inc., Agilent Technologies Pvt. Ltd., PerkinElmer Inc., Dassault Systèmes SE, Novatek International Inc., LabArchives Inc., Bio-ITech BV, GenoLogics Life Sciences Software Inc., LabKey Corporation, LabSoft LIMS by Computing Solutions Inc., LIMS-plus, Promium LLC, Danaher Corporation, Siemens Healthineers AG, GE Healthcare Technologies Inc., Epic Systems Corporation
Table of Contents
1. Executive Summary
2. Laboratory Informatics Market Report Structure
3. Laboratory Informatics Market Trends And Strategies
4. Laboratory Informatics Market – Macro Economic Scenario
5. Laboratory Informatics Market Size And Growth
…..
27. Laboratory Informatics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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