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 2025-2032


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

North America Laboratory Informatics Market Insights

North America Laboratory Informatics Market size was valued at USD 1.28 Billion in 2023 and is poised to grow from USD 1.32 Billion in 2024 to USD 1.75 Billion by 2032, growing at a CAGR of 3.50% during the forecast period (2025-2032).

North American research laboratories and organisations are increasingly revamping their strategy and leveraging laboratory informatics solutions for capturing, tracking, managing, and sharing research and manufacturing data. Furthermore, scientific innovations in genomics, proteomics, and personalized treatment are raising the requirement for reliable data management. Laboratory informatics solutions assist researchers and scientists in gathering, storing, retrieving, monitoring, searching, sharing, reporting, and collaborating their work in a seamless manner, saving time and simplifying work procedures, resulting in propelling the growth of the market during the forecast period.

The Coronavirus outbreak has heightened awareness of the healthcare industry. During this pandemic, critical medical supply constraints have significantly affected the market. Government policies such as stay-at-home orders, social distancing norms, physical restrictions, and disruptions in supply chains have created a logistical problem for businesses, resulting in shortages of on-premise product delivery in the marketplace.

North America Laboratory Informatics Market is poised to grow at a sustainable CAGR for the next forecast year.

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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

$3,500
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