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

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).

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.  '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)'

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 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. 

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.