North America Laboratory Informatics Market

North America Laboratory Informatics Market Size, Share, Growth Analysis, By Product(Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management System (CDMS)), By Mode of delivery (On-premise solutions, cloud-based solutions, and web-based solutions), By Component(Services, and software), By End-user(Chemical testing laboratories, life sciences industry, food & beverage and agriculture industries, petrochemical and oil & gas industries), By Region - Industry Forecast 2024-2031

Report ID: SQMIR35G2278 | Region: Regional | Published Date: April, 2024
Pages: 219 | Tables: 121 | Figures: 72

North America Laboratory Informatics Market News

  • In January 2024, MLS Launched Innovation Lab Startup Accelerator Program. Having utilized MLS Next Pro, its second division, as a testing ground for further innovation and trial and error regarding on-field rules and regulations, fan engagement and broadcast technology, MLS is creating a standardized program for startups and advanced technologies to showcase and test their products throughout the entire MLS ecosystem with the launch of MLS Innovation Lab.
  • In September 2021, PerkinElmer completed the acquisition of BioLegend.
  • In August 2021, Abbott Informatics launched STARLIMS Laboratory Execution System v1.1, which is built on the latest STARLIMS Quality Manufacturing QM 12.2.
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North America Laboratory Informatics Market was valued at USD 1.24 billion in 2022 and is expected to rise from USD 1.28 billion in 2023 to reach a value of USD 1.69 billion by 2031, at a CAGR of 3.50% during the forecast period (2024–2031).

The North America laboratory informatics market is highly competitive in nature. To maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Abbott Informatics Corporation', 'Agilent Technologies, Inc.', 'LabLynx, Inc.', 'Arxspan, LLC', 'Autoscribe Informatics', 'LabWare, Inc', 'Dassault Systemes SE', 'LabVantage Solutions, Inc.', 'Novatek International', 'PerkinElmer, Inc.', 'Promium LLC', 'RURO, Inc.', 'Sapio Sciences LLC', 'Thermo Fisher Scientific Inc.', 'Waters Corporation'

Increased R&D efforts aid in the development of new drugs. As a result, the demand for effective lab and data management grows. An increasing number of R&D firms are shifting away from traditional old systems towards the digital laboratory solutions owing to the fact that laboratory informatics solutions empower researchers to capture the experiment process, relevant data, and conclusion of the research, while also supporting a searchable repository of experimental data that researchers can access for active engagement. Furthermore, academic research is a significant and necessary component of the entire R&D environment in the United States, accounting for nearly 60% of all basic research. The life sciences field is the most prevalent application of academic research, accounting for over 56% of all academic R&D funding. As a result, significant budget allocation and academic research centred on life sciences applications help in providing growth momentum for the North American laboratory informatics market.

Software solutions are now more user-friendly, data is migrating to the cloud, and indeed the number of laboratory informatics start-ups is also expanding. For laboratory informatics software, the cloud is becoming commonplace. Providers of informatics currently developing a cloud and SaaS strategy. Furthermore, the number of research laboratories that are utilising cloud, mobile, and voice technologies is growing over time, which is increasing demand for lab automation solutions.

The United States dominated the North American laboratory informatics market in 2023 and is likely to continue dominance during the forecast period as well. This is, attributed to the prevalence of advanced laboratory infrastructure, continued growth for laboratory system integration, rapidly increasing digitalization, surging government funding for research work, widespread accessibility of laboratory informatics products and services, robust regulatory requirements across industries, and the availability of several important companies in this region enhancing availability of products and support. Increasing laboratory infrastructure and automation in the country is modifying laboratory workflow and allowing for greater penetration of technologies and workflows in R&D labs, food & beverage industries, CROs & CMOs, and other sectors.

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North America Laboratory Informatics Market

Report ID: SQMIR35G2278

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