The global laboratory informatics market size is expected to reach USD 4.72 billion by 2027, expanding at a CAGR of 6.6% from 2020 to 2027, according to a recent study conducted by Grand View Research, Inc. Increasing requirement for the life science companies to comply with regulatory demands has further promoted the incorporation of laboratory information management systems (LIMS) as they help professionals understand and fulfill the complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to boost the growth of the market over the forecast period.
Rising
adoption of LIMS solutions by biobanks, coupled with increasing demand for
integrated healthcare solutions, is a key contributing factor for the growth of
the market over the forecast period. In addition, growing awareness levels
amongst the end-use segments and technological evolution of LIMS solutions are
anticipated to fuel the market growth in the coming years.
Demand
for fully integrated LIMS platforms is growing in accordance with the
requirements of life sciences and research industries to reduce the incidence
of errors in data management and qualitative analysis of research information.
The above-mentioned factors are expected to drive the growth of the LIMS
segment.
It
is anticipated that upgraded laboratory informatics technologies such as
electronic lab notebook and Enterprise Content Management (ECM) solutions will
witness increased demand amongst research professionals and industry players,
respectively, over the forecast period. Associated benefits of ECM, such
as database management of large unstructured or structured medical information,
and supportive government initiatives are expected to contribute to the growth
of ECM segment over the forecast period.
Cloud-based
services are expected to witness significant growth over the forecast period.
Introduction of technologically advanced software solutions and their
widespread adoption by the healthcare IT providers are expected to impede the
growth of the on-premise segment over the forecast period. Furthermore,
advantages associated with the usage of cloud-based services, including remote
access to information, reduced operational cost, and real-time data tracking,
are contributing toward their rising demand.
North
America led the market and accounted for a share of 45.7% in 2019. Asia Pacific
is likely to exhibit the fastest growth over the forecast period due to
increasing R&D expenditure deployed by the public and private sectors,
coupled with increasing awareness levels pertaining to LIMS.
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Laboratory
Informatics Market Report Highlights
- On the basis of product,
LIMS dominated the market in 2019 owing to the associated benefits such as
data tracking and management with fewer errors
- By delivery mode,
cloud-based services are anticipated to expand at the fastest CAGR over
the forecast period due to their growing acceptance by industry
participants
- North America dominated the
market as of 2019 owing to supportive government initiatives promoting the
adoption of LIMS.
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Laboratory
Informatics Market Segmentation
Grand View Research has segmented
the global laboratory informatics market based on product, delivery mode,
component, end use, and region:
Laboratory
Informatics Product Outlook (Revenue, USD Million, 2016 - 2027)
- Laboratory Information
Management Systems (LIMS)
- Electronic Lab Notebooks
(ELN)
- Scientific Data Management
Systems (SDMS)
- Laboratory Execution Systems
(LES)
- Electronic Data Capture
(EDC) & Clinical Data Management Systems (CDMS)
- Chromatography Data Systems
(CDS)
- Enterprise Content
Management (ECM)
Laboratory
Informatics Delivery Mode Outlook (Revenue, USD Million, 2016 - 2027)
- On-premise
- Web-hosted
- Cloud-based
Laboratory
Informatics Component Outlook (Revenue, USD Million, 2016 - 2027)
- Software
- Services
Laboratory
Informatics End-use Outlook (Revenue, USD Million, 2016 - 2027)
- Life Science Companies
- Pharmaceutical and
Biotechnology Companies
- Biobanks/Biorepositories
- Contract Services
Organizations
- Molecular Diagnostics &
ClinicalResearch Laboratories
- Academic Research
Institutes
- CROs
- Chemical industry
- Food & Beverage and
Agriculture Industries
- Environmental Testing
Laboratories
- Petrochemical Refineries
& Oil and Gas Industry
- Other Industries (Forensics
and Metal & Mining Laboratories)
Laboratory
Informatics Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Italy
- France
- Russia
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- South Africa
- Saudi Arabia
List of Key Players
of Laboratory Informatics Market
- LabWare
- Core Informatics
- Thermo Fisher Scientific,
Inc.
- PerkinElmer Inc.
- LabVantage Solutions, Inc.
- Abbott Laboratories
- LabLynx, Inc.
- Agilent Technologies
- Waters
- Cerner Corporation
- IDBS
- McKesson Corporation
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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