Laboratory Informatics Market Worth 3,531.2 Million USD By 2023

The report also states that the laboratory information management systems segment is expected to dominate the global market through 2023, mainly due to “technological advancements in LIMS and growing replacement of old legacy LIMS with COTS LIMS.”

Meticulous Research®, leading global market research company published a research report titled “Laboratory Informatics Market by Product (LIMS, ELN, LES, EDC, ECM, CDMS, SDMS), Component (Services, Software), Delivery (On-Premise, Web, Cloud), End User (Pharma, Biotech, MDx, Biobank, CRO, F&B, Oil, Gas, Petroleum, Chemical) – Global Forecast to 2023“.

According to this latest publication from Meticulous Research®, the laboratory informatics market will grow at a CAGR of 6.5% from 2018 to 2023 to reach USD 3,531.2 million by 2023, driven by various factors such as growing automation in laboratories; technological advancements in laboratory informatics systems; growing need for regulatory compliance; and increasing demand in biobanks/biorepositories, academic research institutes, and contract research organizations (CROs).

Emerging economies such as Latin America, Asia-Pacific, Middle East & Africa provides significant potential for growth. Moreover, rapid adoption of cloud-based informatics provides immense growth opportunities for various stakeholders in the laboratory informatics market.

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On the basis of product, laboratory information management systems (LIMS) segment is expected to continue to dominate the global laboratory informatics market during the forecast period, mainly due to technological advancements in LIMS, growing replacement of old legacy LIMS with COTS LIMS, and growing application of LIMS in biobanking, academic research institutes, and CROs.

On the basis of mode of delivery, on-premise solutions held the largest share in the laboratory informatics market in 2017. This is mainly because on-premise solutions are more customizable than other two deployment models, laboratories have total ownership and authority, and this model is perceived to be more secure.

On the basis of component, services segment is expected to dominate the laboratory informatics market in 2017. The large share of this market is mainly attributed to the growing demand for cloud services and increasing lab automation subsequently driving the demand for laboratory informatics services such as implementation, validation, integration, maintenance, and training and support.

Based on end user, life sciences industry commanded the largest share in the global laboratory informatics market in 2017, mainly due to growing regulatory pressures to maintain data integrity, validity, and security. Moreover, increasing need to improve lab productivity and cost efficiency and trend towards automation is driving life sciences industries to invest in lab informatics.

Geographically, North America commanded the largest share in the global laboratory informatics market in 2017.

TOP 10 COMPANIES IN LABORATORY INFORMATICS MARKET

Scope of the report-

Market by Product:

• Laboratory Information Management Systems (LIMS) • Electronic Lab Notebooks (ELN) • Chromatography Data Systems (CDS) • Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS) • Laboratory Execution Systems (LES) • Enterprise Content Management (ECM) • Scientific Data Management Systems (SDMS)

Mode of Delivery:

• On-premise solutions • Cloud-based solutions • Web-based solutions

Component:

• Services • Software

End User:

• Life Sciences industry

Pharmaceutical and Biotechnology Companies Biobanks & Biorepositories Academic Research Institutes and Contract Research Organizations (CROs) Molecular Diagnostics & Clinical Research Labs • Chemical Testing Laboratories • Food and Beverage Industries • Petrochemical and Oil & Gas Industries • Others

Market by Geography:

• North America

U.S. Canada • Europe

Germany France U.K. Italy Spain Rest of Europe • Asia-Pacific

Japan China India Rest of Asia-Pacific • Rest of the World

Latin America Middle East & Africa

Browse key industry insights spread across 188 pages with 131 market data tables & 37 figures & charts from the report: https://www.meticulousresearch.com/product/laboratory-informatics-market-forecast

The major players in the global laboratory informatics market are Abbott Informatics Corporation, Agilent Technologies, Arxspan, LLC, Autoscribe Informatics, Dassault Systemes SE, GenoLogics (Illumina, Inc.), LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., Novatek International, PerkinElmer, Inc., Promium LLC, RURO, Inc., Thermo Fisher Scientific Inc., and Waters Corporation among others.

Key questions answered in the report-

Which are the high growth market segments in terms of product, mode of delivery, component, end user, and regions/countries? What is the historical market for laboratory informatics market across the globe? What are the market forecasts and estimates from the period 2018-2023? What are the major drivers, restraints, opportunities, and challenges in the laboratory informatics market? Who are the major players in the laboratory informatics market and what share of the market do they hold? How is the competitive landscape? What are the recent developments in the laboratory informatics market? What are the different strategies adopted by the major players in the laboratory informatics market? What are the geographical trends and high growth regions/countries? Who are the local emerging players in the laboratory informatics market and how do they compete with the global players?

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