Laboratory informatics solutions help to reduce manual efforts, labor cost, cost of error, and throughput time; offer paperless information management and effective data analytics; improve data traceability, accessibility, security and sharing; streamline processes; enhance quality management; abide by the regulatory requirements; and provide better control of all business processes and decision support. Thus, automation of laboratory processes and integration of data provides a robust platform to drive scientific decisions and improve quality and operational efficiency, thereby enabling lab professionals to productively advance research, development and manufacturing. “Meticulous Research” in its latest publication states that, the “global market for laboratory informatics market is expected to grow at a CAGR of 6.5% from 2017 to 2022 to reach $3,531.2 million by 2022.”
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This growth is primarily driven by the growing automation in laboratories, technological advancements in laboratory informatics solutions, rising pressure to comply with stringent regulatory guidelines, and growing demand in biobanks/biorepositories, academic research institutes, and CROs.
Automation in laboratories include advanced, programmable and automated work stations that can perform a multitude of tasks; sophisticated robotics that can perform tasks once restricted to humans; and artificial intelligence systems on chips that can learn from their experiences much like ordinary humans. Laboratory automation and the growing emergence of new technological solutions have transformed the research and manufacturing work for scientists and lab professionals. Laboratory automation industry has seen a steady evolution from automating routine pipetting tasks to fully-integrated workstations that provide total application solutions. Automation in laboratory includes automated lab instruments, software, processes and systems which enable reduction in human errors and cycle time, streamlining operations, increasing productivity, advancement in accuracy, data management, product/service quality, and ensuring compliance.
Factors such as rising pressure to abide by regulations, improving lab infrastructure in developed and developing countries, progressing drug discovery and outsourcing of research to CROs, and need to improve efficiencies and have competitive edge in the market are pushing laboratories across the globe towards automation. The degree of automation that any laboratory executes depends on their process, budget, and kind of work they carry out. In the academic and research laboratory, some of the instruments are automated to increase productivity and eliminate tedious tasks, while drug discovery units of the pharmaceutical and biotechnology companies may probably automate and robotize all phases of their research and development laboratories.
With growing automation, it becomes essential to manage increasing volumes of data at a faster rate. This has created the need for efficient data storage, analysis and sharing solutions such as lab informatics. Informatics solutions can significantly improve the effectiveness and efficiency of an organization’s laboratory operations. Furthermore, the automation of laboratory processes and the integration of data provide a platform to drive scientific decisions, improve quality, and ultimately enable lab professionals to productively advance research, development, and manufacturing. Thus, growing lab automation subsequently drives the growth of lab informatics market.
The report provides meticulous analysis of laboratory informatics market on the basis of 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), and geography.
The key players analyzed in the 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.
Key Topics Covered in This Report:
- Research Methodology
- Executive Summary
- Market Share Analysis
- Market Insights
- Global Laboratory Informatics Market, By Product
- Global Laboratory Informatics Market, By Component
- Global Laboratory Informatics Market, By Mode of Delivery
- Global Laboratory Informatics Market, By End User
- Geographic Analysis
- Competitive Landscape
- Company Profiles
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