The latest published report by Polaris Market Research “Scientific Data Management System Market Share, Size, Trends, Industry Analysis Report By Deployment Mode (On-premise & Cloud); By End-Use (Laboratory, Research Institutes, Hospitals), By Region, And Segment Forecast, 2020-2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global scientific data management system (SDMS) market was valued at USD 24.2 million in 2019 and is anticipated to reach a significant market valuation of USD 551.4 million and a CAGR of 44.1% from 2020 to 2027, according to the latest study by Polaris Market Research. Increasing adoption of digitalization across industries supported by technological advancements and rise in the application of lab informatics solutions, driving the growth for the global scientific data management system market. The demand for SDMS is primarily driven by the growing requirement for enhanced data sharing, reduced data integration, and higher data security. In addition to this, during COVID-19 when the world is dealing with lockdowns and social distancing, the scientific data management system provides support to manage the shortage of manpower across industries, fueling the huge demand for the global market. Moreover, the advent of cloud computing for handling large data volume leads to the adoption of SDMS, thus creating lucrative market opportunities.
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List of Key players present in the Scientific Data Management System Market:
- TIBCO Software Inc.
- Shimadzu Corporation
- Merck KGaA
- SciCord LLC
- LabVantage Solutions Inc.
- Accelerated Technology Laboratories Inc.
- Abbott Laboratories
- Thermo Fisher Scientific Inc.
Furthermore, companies are proactively introducing technologically-advanced cloud-based SDMS solutions for scientific laboratories that’s also increasing the demand for these solutions in the market. For instance, in July 2020, LabVantage Solutions, Inc. launched LabVantage platform version 8.5 that comprises of integrated scientific data management system. This fully functional and advanced SDMS solution precisely gathers data and offer high security to the laboratory instruments.
Key Dynamics for Scientific Data Management System Market :
Major Share Holder: Cloud-based deployment segment continues its dominance with major shares in the scientific data management system market. The dominance is attributed to easy accessibility to free storage coupled with cost-effective solutions for the healthcare industry.
High Growth Rate: On-premise scientific data management system is witnessing enormous acceptance from institutions as it resolves the critical requirement of data privacy and security. Additionally, it offers ease in the installation process and provides convenient data storage options.
Leading Market Contributor: The laboratory segment leading the market growth right from the front owing to higher data storage requirements for medical records and an increase in the overall experiments conducted in the labs. Additionally, the rapid increase in the demand for the application of SDMS in hospitals for workflow customization further supports the growth.
COVID-19 Impact: COVID-19 infectious disease impacted almost all industries in terms of manpower shortage. Scientific data management system enables enterprises to deal with such manpower shortage especially in research and development operation across industries.
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Regional Insights & Trend Analysis :
North American region is holding the majority share in the scientific data management system market and is projected to continue its progress at a rapid pace on the account of the presence of well-equipped advanced laboratories, improved healthcare systems, and active participation of leading market players in the region. Asia-Pacific (APAC) is anticipated to grow substantially owing to growing manufacturing and BFSI market in major economies such as India and China. In addition to this, companies heavily investing in the development of powerful scientific data management systems further propelling market growth.
Table of Contents
Scientific Data Management System Market Insights
Scientific Data Management System Market Assessment by Deployment Mode
Global Scientific Data Management System Market, by End Use
- Research Institutes
Scientific Data Management System Market Assessment by Geography
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Austria)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- MEA (Saudi Arabia, UAE, Israel, South Africa)
List of Tables
Table 1 Global Scientific Data Management System Market, By Deployment Mode, 2016 – 2027 (USD Million)
Table 2 Global Scientific Data Management System Market, By End Use, 2016 – 2027 (USD Million)
Table 3 Scientific Data Management System Market Assessment, By Geography, 2016 – 2027 (USD Million)
List of Figures
Figure 1 Market Highlights (2019, Revenue)
Figure 2 Integrated Ecosystem
Figure 3 Research Methodology: Top Down & Bottom Up Approach
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The report can be customized on the basis of regional analysis, segment analysis, industry outlook and competitive analysis. Some of the major focus points which are covered in the report include:
- Industry Trends, opportunity and challenges in the market
- Role of key players across the value chain
- End-User analysis to define the market strategy
- Competitive mapping
- Regional and country level breakdown
These insights are included in the report which would help you to have a realistic overview of the overall market including the competition, investment opportunities, restraints and challenges, regulatory factors which might affect the market growth. Moreover, the report would help to identify the regional market growth opportunities for different segments covered in the report.
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