According to TechSci Research report, “Laboratory Informatics Market – Global Industry Size, Share, Trends, Opportunities and Forecast, 2018-2028”, the global Laboratory Informatics market is expected to grow at an impressive rate from 2024-2028. This growth can be attributed to the growing demand for reducing human error and improving the efficiency of clinical data management worldwide. Increasing demand for time-saving management systems and rising incomes are also expected to drive the market growth during the forecast period. Additionally, the demand for standalone software platforms for managing large amounts of data and retrieving it when needed by customers is expected to further boost the market demand. Increasing automation in laboratories and technological advancements in laboratory information systems are the major factors driving the growth of the market. Increasing demand for biobanks or biorepositories and increasing research and development in academic research institutes are also expected to contribute to the growth of the market. The increasing number of Contract Research Organizations (CROs) is also expected to drive the growth of the market.
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However, high maintenance and service costs may slow down the growth of the global laboratory informatics market. Slow speed of implementation and lack of trained professionals may also limit the market growth.
The Laboratory Informatics market can be segmented by solution type, component, development model, industry, and region. In terms of solution type, the market includes laboratory information management systems, electronic laboratory notebooks, chromatographic data systems, electronic data acquisition and clinical data management systems, laboratory execution systems, enterprise content management systems, and scientific data management systems. The laboratory information management system segment dominated the market in 2022 and is expected to continue its dominance throughout the forecast period due to the increasing use of these systems in clinical laboratories for the detection of chronic diseases.
In terms of development model, the market includes on-premise models, cloud-based models and remote hosted models. The cloud-based model segment is expected to dominate during the forecast period due to increasing demand for low-cost management systems and improved privacy concerns in hospitals and clinical laboratories. Increasing demand for remote access to large volumes of data and easier data recovery on demand by customers is also anticipated to drive the market growth.
The major companies operating in the global Laboratory Informatics market are:
- Thermo Fisher Scientific Inc.
- LabWare, Inc.
- Core Informatics, LLC
- Abbott Laboratories, Inc.
- LabVantage Solutions, Inc.
- LabLynx, Inc.
- PerkinElmer, Inc.
- Waters Corporation
- Agilent Technologies, Inc.
- IDBS (Danaher Corporation)
In August 2020, Thermo Fisher Scientific expanded its SampleManager LIMS software and developed a model choice that enabled laboratories with end-to-end support for Amazon Web Services (AWS) cloud deployments and LIMS software customers to use enhanced system functionality and integration capabilities without investing significant resources in cloud administration and environment.
In July 2021, Abbott’s STARLIMS Corporation was updated to Technology Platform v12.2. Functionality and enhancements have been improved and all features from previous versions of the Electronic Lab Notebook are available in the HTML5: Standard Operating Procedures (SOP) document viewer. The new HTML5 design increased launch efficiency, integration and usability.
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“North America is expected to dominate the global Laboratory Informatics market due to growth policies for the development of laboratory information management systems and the availability of high digital literacy infrastructure across the region. Rising healthcare costs and increasing pressure to reduce costs, along with increasing adoption of laboratory information management systems, are expected to drive market growth over the forecast period. The growing number of well-established pharmaceutical companies and increasing demand for controlling operational costs incurred in information management and analysis in developing countries are also expected to drive the market growth. Increasing number of CROs offering advanced management systems and growing demand to reduce management costs are driving the market growth. Furthermore, the increasing prevalence of cardiovascular diseases and demand for e-clinical services across the region, along with improved operational efficiency through advanced technology, is expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Laboratory Informatics Market – Global Industry Size, Share, Trends, Opportunities and Forecasts, 2018-2028, Segmented by Solution Type (Laboratory Information Management System, Electronic Laboratory Notebooks, Chromatographic Data Systems, Electronic Data Acquisition Systems and Clinical Data Management Systems, Laboratory Data Management Systems, Laboratory Data Management Systems, Enter). By development model (on-premise model, cloud-based model, remotely hosted model), By industry (Life science industry, chemical industry, food and beverage industry and agriculture, petrochemical refineries and oil and gas industry, environmental testing laboratories, others), By region and competition”. has assessed the future growth potential of the global Laboratory Informatics market and provides statistics and information on market size, structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision makers make sound investment decisions. In addition, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities in the global Laboratory Informatics market.
Table of Contents –
- Summary of the article
1.1. Market definition
1.2. Market Scope
1.2.1. Markets covered
1.2.2. Years considered for study
1.2.3. Main market segments
- Research methodology
2.1. Objective of the Study
2.2. Basic methodology
2.3. Key industry partners
2.4. Primary association and secondary sources
2.5. Forecasting methodology
2.6. Data triangulation and validation
2.7. Assumptions and Limitations
- Executive Summary
3.1. Market Overview
3.2. Overview of the main market segments
3.3. Summary of major market players
3.4. Summary of Key Regions/Countries
3.5. Overview of market drivers, challenges, trends
- The voice of the customer
- Global Laboratory Informatics Market Outlook
5.1. Market size and forecast
5.1.1. By value
5.2. Market Share and Forecast
5.2.1. By Solution Type (Laboratory Information Management System, Electronic Laboratory Notebooks, Chromatographic Data Systems, Electronic Data Acquisition and Clinical Data Management Systems, Laboratory Execution Systems, Enterprise Content Management System, Scientific Data Management Systems)
5.2.2. By component (Services v/s Software)
5.2.3. By development model (on-premise model, cloud-based model, remotely hosted model)
5.2.4. By Industry (Life Science Industry, Chemical Industry, Food & Beverage Industry & Agriculture, Petrochemical Refineries & Oil & Gas Industry, Environmental Testing Laboratories, Others)
5.2.5. By Region (North America, Europe, Asia Pacific, South America, Middle East and Africa)
5.2.6. By Company (2022)
5.3. Market map
5.3.1 According to the type of solution
5.3.2 By component
5.3.3 According to the development model
5.3.4 By industry
5.3.5 By region
- North America Laboratory Informatics Market Outlook
6.1. Market size and forecast
6.1.1. By value
6.2. Market Share and Forecast
6.2.1. By Solution Type (Laboratory Information Management System, Electronic Laboratory Notebooks, Chromatographic Data Systems, Electronic Data Acquisition and Clinical Data Management Systems, Laboratory Execution Systems, Enterprise Content Management System, Scientific Data Management Systems)
6.2.2. By component (Services v/s Software)
6.2.3. By development model (on-premise model, cloud-based model, remotely hosted model)
6.2.4. By Industry (Life Science Industry, Chemical Industry, Food & Beverage Industry & Agriculture, Petrochemical Refineries & Oil & Gas Industry, Environmental Testing Laboratories, Others)
6.2.5. By country
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About TechSci Research:
TechSci Research is a research-based management consulting firm that provides market research and advisory solutions to its clients worldwide, spanning a variety of industries. TechSci Research’s core values are value, integrity and insight. Led by a dynamic team of industry experts, TechSci Research provides its clients with high-value research and advisory services that help them identify new market opportunities, growth drivers and innovative ways to capture market share. As a result, TechSci’s client leads rather than follows market trends. Unbound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and growing use of technology as engines of innovation to deliver unique research value. Offered as an alternative to traditional market research, TechSci Research reports not only provide data and insights, but highlight insights in a more usable and interactive format for its clients.
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