Laboratory Informatics Market

Global Laboratory Informatics Market Research Report Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2024-2032: By Product (LIMS, ELN, SDMS, LES, EDC & CDMS, CDS, ECM), By Component (Software and Services), By Delivery Mode (On-premise, Cloud-based, and Web-hosted), By End-Use (CROs, CMO, Life Sciences, Chemical Industry, Food & Beverage, Environmental Testing Laboratories, Petrochemical Refineries, and Other), and Region (North America, Europe, Asia-Pacific, and Rest of the World)

ICT & Media | January 2024 | Report ID: EMR00537 | Pages: 301

The global laboratory informatics market was valued at USD 3.67 billion in 2023 and is estimated to reach approximately USD 5.88 billion by 2032, at a CAGR of 5.3% from 2024 to 2032.

The market for laboratory informatics is a quickly developing industry that combines cutting-edge technologies to improve and expedite scientific data management procedures in labs. This market includes a variety of solutions, such as chromatography data systems (CDS), electronic lab notebooks (ELN), and laboratory information management systems (LIMS). Laboratory informatics solutions are essential for effective data collection, processing, and reporting because they prioritize workflow optimization, data accuracy, and regulatory compliance. This dynamic industry is expanding because of the growing need for novel informatics solutions from laboratories across various sectors as they embrace digital transformation.

 

 

LABORATORY INFORMATICS MARKET: REPORT SCOPE & SEGMENTATION

Report Attribute

Details

Estimated Market Value (2023)

3.67 Bn

Projected Market Value (2032)

5.88 Bn

Base Year

2023

Forecast Years

2024 - 2032

Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- By Product, By Component, By Delivery Mode, By End-Use, & Region

Segments Covered

By Product, By Component, By Delivery Mode, By End-Use, & Region

Forecast Units

Value (USD Billion or Million), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2024 to 2032

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and the Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Report Coverage

Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Delivery Format

Delivered as an attached PDF and Excel through email, according to the purchase option.

 

Global Laboratory Informatics Market Dynamics

Dynamic trends propelled by technology breakthroughs, rising data volumes, and an increased focus on data integrity and compliance define the laboratory informatics market. The increasing need for real-time data analytics, the quick adoption of cloud-based solutions, and the integration of AI and ML are the main drivers. Strict regulatory regulations have an impact on the sector as well, which motivates labs to invest in reliable informatics solutions for data management and traceability. In the future, when innovation and adaptability will be crucial, the market's dynamic landscape will be shaped by significant companies working together and emphasizing user-friendly interfaces.

 

Global Laboratory Informatics Market Drivers

  • Technological Advancements

Scientific data can be processed, integrated, and interpreted more effectively thanks to innovations in cloud computing, AI, and advanced analytics, which can improve laboratory informatics solutions. These tools help laboratories operate more efficiently overall, with decision-making occurring more quickly and process automation being improved. The laboratory informatics market is growing as a result of the industry's adoption of cutting-edge instruments and the ongoing advancement of technology, which not only solves present problems but also creates new ones. This fosters an environment of constant adaptation and improvement within scientific research and analysis.

  • Real-time Analytics Demand

Modern labs are looking for ways to handle and analyze scientific data instantly, as quick insights are critical in today's world. Real-time analytics gives businesses a competitive edge across a range of industries by improving decision-making and expediting research procedures. This demand stems from the necessity of responding quickly to changing study circumstances so that researchers can quickly adjust and make well-informed conclusions. Real-time analytics integration with informatics solutions becomes essential for laboratories that value efficiency and agility in order to remain at the forefront of scientific innovation.

 

Restraints:

  • High Implementation Costs

Especially for smaller labs with tighter resources, the significant initial cost of incorporating advanced informatics technologies might be a deterrent. Organizations may be discouraged from updating their systems due to this financial limitation, which would impede the realization of improved capabilities for data administration and analysis. Since money is a major factor when making decisions, the difficulty is striking a balance between the advantages of using informatics solutions and the available funds, which restricts the use of these cutting-edge technologies to a wider range of laboratories.

  • Data Security Concerns

Especially in the pharmaceutical and healthcare industries, laboratories handling sensitive data are concerned about how private information will be protected. Businesses are reluctant to completely use informatics solutions due to the possibility of data breaches, unauthorized access, and difficulties complying with privacy rules. The challenge of striking a balance between the need for reliable security measures and seamless data sharing is complex. Until reliable security mechanisms are widely implemented, laboratories may be reluctant to fully utilize the advantages of advanced informatics tools, which could limit the potential for industry growth.

 

Opportunities:

  • Growing Demand for Personalized Medicine

Informatics systems that can effectively store and analyze large and diverse datasets, including genomic and patient-specific data, are becoming more and more necessary as the healthcare industry moves toward tailored treatment plans. To facilitate the intricate data integration and analysis needed for customized treatment, laboratory informatics is essential. As a result of this trend, informatics providers have a significant potential to provide solutions that are specifically suited to the demands of personalized medicine, leading to improvements in patient care, medication development, and genetic research.

  • Advancements in AI and Machine Learning

Informatics solutions can improve data analytics, automate difficult activities, and extract insightful information from large datasets thanks to the ongoing development of these technologies. AI-driven informatics solutions in labs can help with predictive analytics, experiment outcomes, and workflow optimization. The potential is in creating and executing informatics solutions that leverage AI and machine learning to enhance decision-making, stimulate creativity, and increase the effectiveness of scientific research, ultimately leading to innovations in a range of domains like materials science, healthcare, and life sciences.

 

Segment Overview

  • By Product

Based on product, the global laboratory informatics market is divided into LIMS, ELN, SDMS, LES, EDC & CDMS, CDS, and ECM. The LIMS category dominates the market with the largest revenue share in 2023. Workflows, related data, and laboratory samples are all intended to be managed and tracked by LIMS. It benefits sectors including healthcare, pharmaceuticals, and research by guaranteeing data integrity, compliance, and effective sample tracking from collection to analysis. Digital platforms called ELN take the place of conventional paper notebooks, making data exchange, collaboration, and documentation easier. The management of scientific data produced in laboratories is the main emphasis of SDMS.

  • By Component

Based on the components, the global laboratory informatics market is categorized into software and services. The services category leads the global laboratory informatics market with the largest revenue share in 2023. Service providers provide labs with informatics software installation, configuration, and integration with their current systems. This guarantees excellent functionality and a smooth transition. Training sessions are frequently needed in laboratories to acquaint users with the features and capabilities of informatics software.

  • By Delivery Mode

Based on delivery mode, the global laboratory informatics market is segmented into on-premise, cloud-based, and web-hosted. The cloud-based segment dominates the laboratory informatics market. In cloud-based solutions, the informatics software is hosted on external servers that are given to the user by an outside cloud service provider. Servers on-site are not necessary because users can access the program and data online. Similar to cloud-based solutions, web-hosted solutions are frequently maintained by the software provider. For on-premise solutions, the laboratory's local infrastructure is used to install and operate the informatics software.

  • By End-Use

Based on end-use, the global laboratory informatics market is divided into CROs, CMOs, life sciences, chemical industry, food & beverage, environmental testing laboratories, petrochemical refineries, and others. The life sciences category dominates the market with the largest revenue share in 2023. Pharmaceutical companies, biotechnology corporations, and other organizations engaged in life sciences research and development are included in this category. Solutions for laboratory informatics in the life sciences sector are designed to help with drug development, discovery, and general laboratory operations.  CROs are experts at offering pharmaceutical, biotechnology, and medical device companies outsourced research and development services. CMOs are businesses that offer pharmaceutical, biopharmaceutical, and other chemical product manufacturing services.

 

Global Laboratory Informatics Market Overview by Region

The global laboratory informatics market is categorized into North America, Europe, Asia-Pacific, and the Rest of the World. North America emerged as the leading region, capturing the largest market share in 2023. The thriving biotechnology, pharmaceutical, and healthcare industries in the area are what fuel the demand for advanced laboratory informatics systems. North America's significance is also attributed to the existence of significant market participants, broad government backing for research efforts, and a high degree of awareness regarding the advantages of informatics technologies. The region's leadership in the laboratory informatics industry is further cemented by its dedication to technical innovation and a supportive regulatory framework.

Throughout the forecast period, Asia-Pacific is anticipated to post a significant CAGR. This strong growth is explained by the region's developing life sciences and healthcare sectors, a rise in R&D activity, and a growing focus on technology integration. Asia-Pacific becomes a key focus for market expansion as more laboratories use informatics solutions to increase efficiency and adhere to regulatory norms.

 

 

Global Laboratory Informatics Market Competitive Landscape

In the global laboratory informatics market, a few major players exert significant market dominance and have established a strong regional presence. These leading companies remain committed to continuous research and development endeavors and actively engage in strategic growth initiatives, including product development, launches, joint ventures, and partnerships. By pursuing these strategies, these companies aim to strengthen their market position, expand their customer base, and capture a substantial share of the market.

Some of the prominent players in the global laboratory informatics market include,

  • Thermo Fisher Scientific, Inc.
  • LabWare
  • PerkinElmer, Inc.
  • LabVantage Solutions, Inc
  • LabLynx, Inc.
  • Agilent Technologies
  • ID Business Solutions Ltd.
  • McKesson Corporation
  • Waters Corporation
  • Abbott Laboratories, and various others.

 

Global Laboratory Informatics Market Recent Developments

In November 2023, the acquisition of Autoscribe Informatics was announced by Xybion Corporation. The acquisition signifies significant strategic growth for Xybion's worldwide Laboratory Information Management System (LIMS) enterprise. With the acquisition, Xybion's goal of accelerating lab digitization and information management SaaS solutions to streamline lab operations and spur innovation has advanced significantly.

In August 2023, A premier supplier of business informatics solutions, STARLIMS, has announced that it has acquired Labstep, a state-of-the-art Electronic Laboratory Notebook (ELN) for research and development, strategically, expanding its array of products. By addressing the significant difficulties clients encounter in locating a cutting-edge platform that supports them from R&D to market surveillance, this acquisition propels both businesses to the forefront of contemporary informatics.

In February 2023, the life sciences section of Waker Bioscience in Shanghai officially launched the STARLIMS Laboratory Information Management System project. One of the biggest names in Chinese gene therapy risk assessment, Shanghai Waker Bioscience Co., Ltd., has benefited from STARLIMS's experience by automating processes to increase operational efficiency and comply with laws and long-term digitization goals.

 

Scope of the Global Laboratory Informatics Market Report

Laboratory Informatics Market Report Segmentation

ATTRIBUTE

DETAILS

By Product

  • LIMS
  • ELN
  • SDMS
  • LES
  • EDC & CDMS
  • CDS
  • ECM

By Component

  • Software
  • Services

 

By Delivery Mode

  • On-premise
  • Cloud-based
  • Web-hosted

By End-Use

  • CROs
  • CMO
  • Life Sciences
  • Chemical Industry
  • Food & Beverage
  • Environmental Testing Laboratories
  • Petrochemical Refineries
  • Other

By Geography

  • North America (USA, and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, and Rest of Latin America)
  • Middle East & Africa (South Africa, GCC, and Rest of Middle East & Africa)

Customization Scope

  • Available upon request

Pricing

  • Available upon request

 

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

  • Global Laboratory Informatics Market Size and Forecast: To identify and estimate the market size for the global laboratory informatics market segmented by product, by component, by delivery mode, by end-use, region and by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of laboratory informatics between 2019 and 2032.
  • Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for the global laboratory informatics market
  • Market Influencing Factors: To find out the factors which are affecting the sales of laboratory informatics among consumers
  • Impact of COVID-19: To identify and understand the various factors involved in the global laboratory informatics market affected by the pandemic
  • Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.

Intended Audience

  • Laboratory Managers and Directors
  • IT Professionals
  • Healthcare Providers
  • Pharmaceutical and Biotechnology Companies
  • Regulatory Authorities
  • Investors and Trade Experts

Research Methodology

Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region.  The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.

Data Collection

Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.

Primary Research

After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market. 

Secondary Research

A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.

Top-Down Approach & Bottom-Up Approach

In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.

In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.

This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.

Market Analysis & size Estimation

Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.

Quality Checking & Final Review

The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.

Frequently Asked Questions

On the basis of Geography, The laboratory informatics market is classified into North America, Europe, Asia Pacific, and the Rest of the world.
According to laboratory informatics market research, the market is expected to grow at a CAGR of ~5.3% over the coming years.
Asia-Pacific is expected to register the highest CAGR during 2024 - 2032.
North America held the largest share in 2023.
The major players operating in the global laboratory informatics market include Thermo Fisher Scientific, Inc.; LabWare; PerkinElmer, Inc.; LabVantage Solutions, Inc.; LabLynx, Inc.; Agilent Technologies; ID Business Solutions Ltd.; McKesson Corporation; Waters Corporation; Abbott Laboratories, and various others.