Electronic laboratory notebooks (ELNs) provide an effective, centralized electronic replacement for paper lab notebooks and other homegrown solutions used to record laboratory data. ELN help researchers & scientists to reduce manual efforts, labor cost, cost of error, & throughput time; offer paperless research data management and effective analysis; improve traceability, accessibility, security, & sharing; streamline processes; enhance quality management; abide by the regulatory requirements; and provide better control of all business processes and decision support.
Meticulous Research®, in its latest publication on the ELN market, states that the global electronic lab notebook (ELN) market is expected to grow at a CAGR of 7.1% during the forecast period to reach USD 787.7 million by 2029 from an estimated USD 487.6 million in 2022.
The growth of this market is driven by the increasing R&D activities in the life sciences industry, the growing use of automation in laboratories, technological advancements in laboratory informatics solutions, and the rising need to comply with regulatory frameworks. Cost constraints and the reluctance to replace traditional lab notebooks with electronic lab notebooks are expected to restrain the market’s growth. Additionally, the growing scope of cloud-based ELNs and untapped markets in emerging economies are expected to hold growth opportunities for market stakeholders. However, interfacing & integration and data security & privacy concerns are expected to be major challenges for the growth of this market.
To provide efficient analysis, Meticulous Research® has segmented this market on the basis of technology (proprietary ELN, and open-source ELN), channel (on-premise ELN and web & cloud-based ELN), end use (Pharmaceutical Companies, Biotechnology Companies, Food & Beverage Companies, contract research organizations (CROs), Academic Research Institutes and Other End Users), geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)
Based on technology, In 2022, the proprietary ELN segment is estimated to account for the larger share of the global electronic lab notebook market. This is accounted to the advantages of proprietary ELNs, such as ownership of the software, quick and efficient support, a multitude of features, and the ability to be customized as per requirements.
Based on channel, in 2022, the web & cloud-based ELN segment is estimated to account for the larger share of the global electronic lab notebook market. The segment’s large share is attributed to the cost-effectiveness, real-time analysis capabilities, integration with other systems & software, easy access to data, internal and external data sharing, flexibility, and scalability offered by web & cloud-based ELNs.
Based on end user, the pharmaceutical companies segment is estimated to account for the largest share of the global electronic lab notebook market. Pharmaceutical companies are the leading adopters of ELNs. These companies are witnessing the growing digital transformation and increasing adoption of disruptive technologies, including lab informatics.
Based on geography, North America is estimated to account for the largest share of the global electronic lab notebook market. In North America, the life science industry is highly developed. The market for laboratory informatics solutions, including ELN, is relatively well established in the region, with the presence of major players in this region. Moreover, relatively high level of automation in laboratories, the U.S. and Canada capable of investing in advanced technologies, increasing demand for electronic lab notebook midst researchers and scientists in the development of various sectors like pharmaceutical & biotechnology companies, academic research, and food & beverages industries is attributed to the largest share of the market in North America.
The report includes a competitive landscape based on an extensive assessment of product portfolio offerings, technology, channel, end user, geographic presence, and key strategic developments adopted by leading market players in the industry over the past four years. The key players profiled in the global electronic lab notebook market are Abbott Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), Arxspan, LLC (U.S.), Benchling, Inc. (U.S.), Eppendorf AG (Germany), Dassault Systemes SE (France), ID Business Solutions (IDBS) Ltd. (U.K.), KineMatik Inc. (U.S.), Lab-Ally, LLC (U.S.), Labforward GmbH (Germany), Labii Inc. (U.S.), LabArchives, LLC. (U.S.), LabLynx, Inc. (U.S.), LABTrack, LLC. (U.S.), LabWare, Inc. (U.S.), Mestrelab Research, S.L. (Spain), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Waters Corporation (U.S.), among others.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/electronic-lab-notebook-eln-market-4341
Mr. Khushal Bombe
Meticulous Market Research Inc.
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