Laboratory Informatics Market Size and Forecast 2024-2033|Thermo Fisher Scientific Inc., LabVantage Solutions Inc., LabWare Inc., STARLIMS Corporation, LabLynx Inc

two scientist using digital tablet in laboratory

Overview and Scope

The laboratory informatics refer to software products that are used for instrument control, scientific data management, scientific search, network integration, and compliance management to streamline analytical laboratory operations. The laboratory informatics solutions reduce operational costs, accelerate decision-making, improve laboratory processes and others.

Sizing and Forecast

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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Segmentation & Regional Insights

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

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

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Major Driver Impacting Market Growth

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.

Key Industry Players

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

The laboratory informatics market report table of contents includes:

1. Executive Summary

2. Laboratory Informatics Market Characteristics

3. Laboratory Informatics Market Trends And Strategies

4. Laboratory Informatics Market – Macro Economic Scenario

5. Global Laboratory Informatics Market Size and Growth

26. South America Laboratory Informatics Marketn

27. Brazil Laboratory Informatics Market

28. Middle East Laboratory Informatics Market

29. Africa Laboratory Informatics Market

30. Laboratory Informatics Market Competitive Landscape And Company Profiles

Top Major Players: