Global Laboratory Informatics Market to reach USD 6.20 billion by 2027.Global Laboratory Informatics Market to reach USD 6.20 billion by 2027.
Global Laboratory Informatics Market is valued approximately USD 3.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.8% over the forecast period 2021-2027. Laboratory automation is gaining traction as an effective solution to deal with labor scarcity and decrease manual involvement in lab procedures. High accuracy and efficiency of reports, expanding applications of lab informatics solutions, and an increase in the number of diagnoses are all aspects driving the market. The technology is quickly evolving in response to market demand, due to growing workload, cost limitations, and technological developments. To meet the present worldwide demand, new laboratory systems are being developed using the most advanced technology. In July 2020, LabVantage introduced 8.5, a latest category of its LabVantage policy which proposes a fully integrated SDMS. In May 2018, Agilent Technologies (US) purchased Genohm (Switzerland). This acquisition inflated Agilent's current software portfolio by adding LIMS and workflow management, thus growing the company's ELN capabilities. However, high maintenance and service costs that come along with laboratory informatics solutions are one of the major factors restraining the growth of this market. The maintenance charge for IT is costlier than the software itself which is likely to impede the growth of the market over the forecast period of 2021-2027. Also, Laboratory information systems, such as Abbott Healthcare LIMS platform STARLIMS, allow flexibility in terms of user interface, and may be controlled through mobile application. With such tools, laboratory activities, including diagnostic testing, have become considerably easier which is likely to increase the market growth during the forecast period.
The regional analysis of Global Laboratory Informatics Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to prominent financing in latest technologies, expansion in biobanks, unchallenging accessibility of lab informatics products, and strict rules and demands across industries. Whereas, Asia Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as the growing demand for developed infrastructure as middle eastern countries lack proper standards and government regulations would create lucrative growth prospects for the Laboratory Informatics market across Asia-Pacific region.
Major market player included in this report are:
Thermo Fisher Scientific Inc. (US)
LabVantage Solutions, Inc. (US)
LabWare (US)
Abbott Informatics (US)
LabLynx, Inc. (US)
Waters (US)
Agilent Technologies, Inc. (US)
Autoscribe Informatics (US)
Dassault Syst??mes (Paris, France)
LABWORKS LLC (US)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type of Solution
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)
By Component
Services
Software
By Delivery
On-premise
Cloud-based
Remotely Hosted
By Industry
Life Sciences Industry
Pharmaceutical & Biotechnology Companies
Biobanks & Biorepositories
Molecular Diagnostics & Clinical Research Laboratories
Contract Service Organizations
Academic Research Institutes
Chemicals Industry
Food & Beverage and Agriculture Industry
Petrochemical Refineries and Oil & Gas Industry
Environmental Testing Laboratories
Other Industries
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global Laboratory Informatics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
