Report Scope & Overview:
The Laboratory Informatics Market Size was esteemed at USD 3.30 billion 2022, and expected to arrive at USD 4.88 billion by 2030, and develop at a CAGR of 5% over the conjecture period 2023-2030.
Laboratory informatics is a specialised use of IT that uses a platform of devices, software, and data management tools to optimize laboratory operations. Scientific data can be gathered, transferred, processed, and evaluated for rapid use with the help of laboratory informatics. This information can also be saved, maintained, and shared in order to aid future research and development. The application of laboratory informatics increases the effectiveness of laboratory operations.
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The interest for lab computerization is developing.
Coordinated lab informatics arrangements are being created.
Regulatory standards are strict.
Pharmaceutical and biotechnology companies are increasing their R&D spending.
Maintenance and servicing expenditures are high.
The difficulties of interoperability
Absence of reconciliation principles for LIMS
Cloud-based laboratory informatics is becoming increasingly prevalent.
Arising economies have a great deal of space for extension.
The cannabis sector employs lab informatics systems.
Scarcity of qualified professionals
Using a variety of laboratory instruments
IMPACT OF COVID-19
To tackle the pandemic, pharma and biotech businesses, researchers, diagnostic labs, and testing facilities working on COVID-19 research have adopted innovative technologies and solutions that go beyond standard avenues to enhance workflows. COVID-19 research laboratories or testing centers must handle a number of steps (such as test management, inventory control, sample handling, and shipment and packaging). Furthermore, research labs working on COVID-19 treatments or vaccinations require an end-to-end solution to increase the quality, efficiency, and speed of the vaccine production process. This is projected to expand the use of laboratory information solutions, which improve research and testing activities as well as laboratory operations and data administration. Some businesses in the market are working on developing LIMS solutions dedicated to COVID-19 testing in order to improve the efficiency and speed of COVID-19 examination.
By Product Type
The Laboratory Information Management Systems (LIMS) sector led the market, accounting for about half of all sales. Master data management, sample lifecycle reporting, stability studies, system and security management, timetables, inventories, instruments, logistics, storage capacity and analytical workflow are all examples of these systems. In the next years, demand for fully integrated services in the life sciences and research industries is predicted to boost market expansion by reducing data management errors and improving qualitative analysis of research data. The LIMS portion is probably going to keep up with its situation because of these elements all through the projection period. Furthermore, due to rising usage by researchers in analytical chemistry labs, the superior Electronic Lab Notebooks (ELN) system segment is expected to rise significantly throughout the projection period.
By Delivery Type
The cloud-based category dominated the market in 2021, and is likely to continue to do so throughout the forecast period. Cloud-based innovation considers the far-off capacity of enormous volumes of information, opening up space on gadgets and working with information recovery as indicated by client necessities. Infrastructure as a Service (IaaS), Platform as a Service (PaaS), and Software as a Service (SaaS) are the three services included in the technology (SaaS). SaaS-based services are provided for the cloud-based analytics software. Watson Analytic services are available as a SaaS offering from IBM.
By Component Type
The services sector dominated the market in 2021, and is expected to continue to do so throughout the forecast period. The expansion of the market is being aided by an increase in the outsourcing of LIMS solutions. Large pharmaceutical research labs outsource these services because they lack the resources and aptitude required for analytics adoption.
Laboratory informatics services are offered by CROs in packages that include promotional expenditure compliance, social media analytics, preventive maintenance, manufacturing process, predictive analytics for medical device failure, and benchmarking solutions. In the next years, rising user knowledge of the benefits associated of these solutions is projected to increase their demand.
By End-use Type
The best income share came from the existence science organizations section. Molecular diagnostic, Biobanks, and clinical research laboratories, contract service organisations, pharmaceutical and biotechnology firms, and university research institutes all fall under this category. In order to produce innovative products and increase product quality and operational efficiency, the life sciences industry is growing its demand for laboratory informatics. The demand for more virtual and electronic laboratories is growing to meet these needs. Laboratory informatics solutions enable effective data management and the dismantling of research and discovery silos. The demand for LIMS is expected to be fueled by rising technical improvements in the healthcare sector as a result of increased R&D in the field of medicine. The classification is anticipated to create because of developing utilization of LIMS in clinics and exploration labs because of its growing application regions for patient commitment, work process the board, patient wellbeing data following, charging, and quality affirmation.
KEY MARKET SEGMENTATION
By Product Type
Laboratory Information Management Systems (LIMS)
Scientific Data Management Systems (SDMS)
Electronic Lab Notebooks (ELN)
Enterprise Content Management (ECM)
Chromatography Data Systems (CDS)
Laboratory Execution Systems (LES)
Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
By Delivery Type
By Component Type
By End-use Type
Pharmaceutical and Biotechnology Companies
Contract Services Organizations
Academic Research Institutes
Molecular Diagnostics & Clinical Research Laboratories
Environmental Testing Labs
F&B and Agriculture
Petrochemical Refineries & Oil and Gas Industry
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North America dominated the market, followed by Europe. The strong economies of the United States and Canada have allowed for major investments in new technologies, growth in biobanks, simple availability of lab informatics goods and services, and severe regulatory requirements across industries, resulting in North America's market domination.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Some of the major key players of Laboratory Informatics market are as follows: Abbott Informatics, Agilent Technologies, Thermo Fisher Scientific, Inc., Core Informatics, ID Business Solutions Ltd., LabWare, LabVantage Solutions, Inc., LabLynx, Inc., McKesson Corporation, Waters Corporation, PerkinElmer Inc, and other players.
Abbott Informatics-Company Financial Analysis
|Market Size in 2022
|US$ 3.30 Billion
|Market Size by 2030
|US$ 4.88 Billion
|CAGR of 5% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Product Type (LIMS, SDMS, ELN, ECM, CDS, LES, EDC & CDMS)
• By Delivery Type (Web-hosted, On-premise, Cloud-based)
• By Component Type (Services, Software)
• By End-use Type (Life Sciences (Pharmaceutical and Biotechnology Companies, Contract Services Organizations, Biobanks/Biorepositories, Academic Research Institutes, Molecular Diagnostics & Clinical Research Laboratories), CROs, Chemical Industry, Environmental Testing Labs, F&B and Agriculture, Petrochemical Refineries & Oil and Gas Industry, Other Industries)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Abbott Informatics, Agilent Technologies, Thermo Fisher Scientific, Inc., Core Informatics, ID Business Solutions Ltd., LabWare, LabVantage Solutions, Inc., LabLynx, Inc., McKesson Corporation, Waters Corporation, PerkinElmer Inc, and other players.
|• The interest for lab computerization is developing.
• Coordinated lab informatics arrangements are being created.
• Regulatory standards are strict.
|• Maintenance and servicing expenditures are high.
• The difficulties of interoperability
• Absence of reconciliation principles for LIMS
Ans: The Laboratory Informatics Market size was valued at USD 3.30 billion 2022.
Coordinated lab informatics arrangements are being created, Regulatory standards are strict, are the drivers of Laboratory Informatics market.
North America dominated the market, followed by Europe.
The Laboratory Information Management Systems (LIMS) sector led the market, accounting for about half of all sales.
Ans: Ther Laboratory Informatics Market is to grow at a CAGR of 5% over the forecast period 2023-2030.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laboratory Informatics Market Segmentation, By Product Type
8.1 Laboratory Information Management Systems (LIMS)
8.2 Scientific Data Management Systems (SDMS)
8.3 Electronic Lab Notebooks (ELN)
8.4 Enterprise Content Management (ECM)
8.5 Chromatography Data Systems (CDS)
8.6 Laboratory Execution Systems (LES)
8.7 Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
9. Laboratory Informatics Market Segmentation, By Delivery Type
10. Laboratory Informatics Market Segmentation, By Component Type
11. Laboratory Informatics Market Segmentation, By End-use Type
11.1 Life Sciences
11.1.1 Pharmaceutical and Biotechnology Companies
11.1.2 Contract Services Organizations
11.1.4 Academic Research Institutes
11.1.5 Molecular Diagnostics & Clinical Research Laboratories
11.3 Chemical Industry
11.4 Environmental Testing Labs
11.5 F&B and Agriculture
11.6 Petrochemical Refineries & Oil and Gas Industry
11.7 Other Industries
12. Regional Analysis
12.2 North America
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4.2 South Korea
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.3 South Africa
12.6 Latin America
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Abbott Informatics
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Agilent Technologies
13.3 Core Informatics
13.4 ID Business Solutions Ltd.
13.6 LabVantage Solutions, Inc.
13.7 LabLynx, Inc.
13.8 McKesson Corporation
13.9 PerkinElmer, Inc.
13.10 Thermo Fisher Scientific, Inc.
13.11 Waters Corporation
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share analysis
14.3 Recent Developments
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