USD 3.21 billion
Laboratory Informatics Market Size, Share, Growth Analysis, By Type of Solution(Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Chromatography Data Systems (CDS), Electronic Data Capture and Clinical Data Management Systems (EDC/CDMS)), By Component(Software, Services, and Support), By Deployment Mode(On-premise Deployment Model, and Cloud-Based Deployment Model), By Industry(Life Science Industries, Food & Beverage and Agriculture Industries, Petrochemical and Oil & Gas Industries, Chemical Industries), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35G2216 |
Region:
Global |
Published Date: September, 2024
Pages:
251
|Tables:
126
|Figures:
77
Laboratory Informatics Market Insights
Global Laboratory Informatics Market size was valued at USD 4.35 billion in 2022 and is poised to grow from USD 4.80 billion in 2023 to USD 10.59 billion by 2031, growing at a CAGR of 10.4% in the forecast period (2024-2031).
Growing usage of lab automation is driving the demand for laboratory informatics market. Over the past few decades, data generated by laboratories have been growing rapidly due to increasing technological innovations in molecular genomics and genetic testing practices. Moreover, lab automation systems demand is expected to increase by preference shift towards personalized medicine, and cancer genomics studies, and increasing patient engagement needs. In addition, software solutions are getting more user-friendly, data is moving to the cloud, and the number of startups in the laboratory area is constantly increasing. Thus, clouds are becoming the standard for laboratory informatics software. Furthermore, numerous research laboratory crowdsourcing, crowdsharing, and collaboration experiments have shown that over time more research laboratories are deploying cloud, mobile, and voice technologies, thus driving the demand for lab informatics solutions.
The uptake of laboratory informatics solutions is gaining ground across the industries, especially in healthcare, pharmaceutical, biotechnology, and contract research organizations. As for other solutions, laboratory information systems are increasingly deployed in biobanks, academic research institutions, and contract research organizations, as they facilitate process optimization, due observation of the existing legislative norms and intellectual property rights, reduction of throughput time and going paperless.
US Laboratory Informatics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Laboratory Information Management Systems (LIMS)
Fastest Growth
Laboratory Information Management Systems (LIMS)
Growth Rate
4.9% CAGR
Global Laboratory Informatics Market ($ Bn)
Country Share for North America Region (%)
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Laboratory Informatics Market Segmental Analysis
Global Laboratory Informatics Market is segmented on the basis of type of solutions, component, deployment mode, industry, and region. By type of solution market is segmented into Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Chromatography Data Systems (CDS), Electronic Data Capture and Clinical Data Management Systems (EDC/CDMS), Laboratory Execution Systems (LES), Enterprise Content Management and Document Management Systems (ECM/DMS), and Scientific Data Management Systems (SDMS). By component market is segmented into Software, Services, and Support. By deployment mode, market is segmented into on-premise deployment model, and cloud-based deployment model. By industry market is segmented into Life Science Industries, Food & Beverage and Agriculture Industries, Petrochemical and Oil & Gas Industries, Chemical Industries, Environmental Testing Laboratories, Forensics, and Other Industries. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Laboratory Informatics Market Analysis by Product
The laboratory information management systems segment held the highest revenue in 2023 as these solutions are gaining popularity in the laboratories of such industries as healthcare; pharmaceuticals; biotechnology, chemicals, and life sciences; food and beverage; and environmental testing. LIMS software offers a wide range of functions for tracking samples and data, ensuring compliance with standards, and integrating with laboratory instruments. These systems maximize productivity and ensure that the results are correct and that the data is protected. In October 2023, Sapio Sciences launched Sapio Jarvis, the first scientific data cloud for scientists that can consolidate lab data and link it to the scientific context.
The enterprise content management segment is expected to grow substantially during the forecast period in the laboratory informatics market. The segment is experiencing such dramatic growth because the adoption of ECM is increasing due to the provision of integrated and comprehensive solutions to the growing challenges in the industry. ECM provides a central approach to capture, create, organize, access, and analyze an organization’s entire ecosystem of media, knowledge assets, and electronic documents. The companies render services of consultation, design, implementation, and maintenance of these software solutions.
Laboratory Informatics Market Analysis by End-Use
The market was dominated by the life science segment in 2023. The life sciences industry had experienced an increase in the demand for laboratory informatics to assist them in coming up with innovative products and advancing their product quality, and operational efficiency. Moreover, there was an increased need for more virtual and electronic laboratories to meet their needs. Laboratory informatics systems had been deemed significant in the effective management of larger amounts of data and facilitate the breakdown of research & discovery silos. Healthcare has experienced an increase in technological advancement due to the increased R&D in the field of medicine. The rising number of these investments is one of the factors expected to increase the demand for LIMS.
The segment of the CRO is expected to grow at the fastest growth rate over the forecast year. The increased demand for efficient data management and compliance with regulations that drive CROs to adopt laboratory informatics solutions that are advanced, much in the same way as ELN, LIMS and SDMS. Also, the technologies enable CROs to streamline the workflow, ensure the integrity of data, improve the level of collaboration, and speeds up the process of development of drugs. With growth in the sector of life sciences, there is also an increased reliance on CROs for research solutions that are of high quality and cost-effective.
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Laboratory Informatics Market Regional Insights
North America laboratory informatics market dominated the demand share in terms of region. The laboratory informatics field has been continuously shaping over the recent past and the North America market has been influenced by several factors. The North America clinical laboratories are increasingly changing in size and ownership as a result of rapid technological transformation in key areas, including measurement, digital, communication and transportation technologies. Furthermore, point-of-care and critical care testing are increasingly becoming common, and this requires real-time availability of data and information management systems that can effectively support clinical decision making.
The Asia-Pacific laboratory informatics market is expected to record the fastest growth during the forecast period. This can be attributed to the increasing demand by pharmaceutical manufacturers to bolster efficiency and slash costs. In addition, the market will benefit from many CROs in the high-growth economies such as India and China. Besides, an increasing number of laboratory information systems based on advanced technologies will drive market growth. In conclusion, an increase in partnerships and collaborations between the key regional players will fuel market growth during the forecast period. Technological breakthroughs such as AI, automation and blockchain in China are significantly boosting lab informatics by enhancing predictability, output analytics, and patient outcomes.
Global Laboratory Informatics Market By Geography
- Largest
- Fastest
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Laboratory Informatics Market Dynamics
Laboratory Informatics Market Driver
Growing Demand for Laboratory Automation
- Lab automation has become an effective way to address the issue of lack of qualified laboratory staff and to facilitate less manual intervention in lab operations. Through programming the devices or orienting the workstations along with the necessary software, it is possible to automate the most common lab processes and thereby increase productivity allowing researchers to concentrate on issues that are more important.
Growing Remote Working Setup Post Pandemic
- The COVID-19 pandemic really accelerated the development of laboratory software and technologies. People were working and operating remotely, so digital solutions were a necessary requirement for a productive laboratory. Moreover, laboratory demands for testing, genomics, drug development, and vaccination had to evolve to become more capable and provide faster, quicker, and efficient results.
Restraints
High Cost Associated with Laboratory Informatics
- The high cost associated with one time implementation and recurring maintenance and service can be a major challenge among end-users. When determining budgets, many organizations may decide to invest their financial resources in other areas that are more crucial for running laboratories. Owing to this approach, the number of potential customers who do not afford to purchase lab informatics solutions is increasing, thus restraining the market dynamics.
Low Adoption Among Startups and SMEs
- Insufficient financial resources as well as a relatively limited IT environment may suggest that smaller companies are not interested in using these systems to the extent necessary and appropriate. Another barrier may emerge through the required expertise as there are mandatory regulations and good practices to follow. There is a high level of specialization in the area of lab informatics that an SME is not likely to have and the systems to be put in place require a variety of customizations.
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Laboratory Informatics Market Competitive Landscape
The level of merger & acquisition in the industry is moderate. There is a surge in the acquisition of small and medium players in the market by major players with an aim to strengthen their capabilities, diversify product portfolios and enhance its competency. The impact of regulations on the market is high. Generally, the convergence of technological advent, stringent regulatory requirements, and commercial pressures has led to the massive generation of data from different facets, such as the development of new products, quality assurance, and manufacturing. The data management processes and conventional documents in such stringent environments, such as the life sciences industry, which is subject to strict regulation, are facing challenges due to these pressures. The level of regional expansion in the industry is moderate. There is a heightened demand for laboratory informatics solutions in emerging markets.
Laboratory Informatics Market Top Player’s Company Profiles
- Abbott (US)
- Agilent Technologies, Inc. (US)
- IDBS (UK)
- LabLynx, Inc. (US)
- LabVantage Solutions, Inc. (US)
- LabWare (US)
- McKesson Corporation (US)
- PerkinElmer, Inc. (US)
- Thermo Fisher Scientific (US)
- Waters Corporation (US)
- Starlims Corporation (US)
- Dassault Systèmes (France)
- Revvity (US)
- Accelerated Technology Laboratories, Inc. (US)
- LabWorks (US)
- Xybion Digital Inc. (US)
- Novatek International (Canada)
- Agaram Technologies Pvt. Ltd. (India)
- Siemens (Germany)
- Caliber Technologies (India)
Laboratory Informatics Market Recent Development
- In February 2024, LabVantage Solutions, Inc., a supplier of laboratory informatics solutions, provides its sophisticated analytics, semantic search, and purpose-built LIMS solutions through an integrated, digitally native ecosystemdesigned to support the R&D laboratory processes more efficiently, productively, decisional, & collaborative, and with a lower operational expenditure.
- In November 2023, Flagship Pioneering, a bioplatform innovation firm, was announced to partner with Thermo Fisher Scientific Inc. The indicative purpose of this strategic collaboration is to enable rapid platform development and expansion for the benefit of the customers; incorporate development of new platform companies carrying new adventurous biotech tools & capabilities; and further develop their existing supply relationship across life science tools, diagnostics, & services.
- In October 2022, LabVantage Solutions acquired Biomax Informatics to catalyze scientific discovery & product innovation and to enhance the premium level of the offered services. The organization serves the life sciences, healthcare, and information technologies domains.
Laboratory Informatics Key Market Trends
- Growing Trend for Real Time Analysis: Lab informatics solutions are emerging as highly viable solutions, because there could be an increase in the demand for real time data analytics solutions across varied industries such as life sciences, food & beverage, petrochemical, chemicals, among others. Given that these industries require data analytics for taking strategic business decisions, it becomes highly relevant to deploy advanced technologies in the form of LIMS, ELN, CDS, etc. for the same. The demand for real-time insights is likely to enhance the market, leading to the growth in the adoption of highly advanced informatics systems.
- Increasing Focus on Efficiency and Quality: The market is driven by the increased requirement for improved connectivity to drive quality processes and lab workflows. Life science labs in the modern day have become a complex web of sophisticated equipment, instruments, supply chains and people. The smooth running of this complex system requires strong integration and digital linkages across these different members.
Laboratory Informatics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the factors which will boost the demand for laboratory automation includes rapid technological developments in molecular genomics, surge in demand in biobanks and academic research institutes, and shifting customer tendency towards cancer genomics. In addition, growing favor to cloud-based laboratory informatics over paper-based laboratory and increased usage of laboratory informatics solutions during the forecast period and significant growth opportunities in emerging regions are factors that will accelerate the global market over the projected timeframe. One of the fastest growing segments in laboratory technology is informatics. It concentrates on the technologies that are related to the information management processes.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.35 billion |
| Market size value in 2031 | USD 10.59 billion |
| Growth Rate | 10.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Laboratory Informatics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Laboratory Informatics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Laboratory Informatics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Laboratory Informatics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Laboratory Informatics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Laboratory Informatics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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