The global Laboratory Informatics Market reached a size of USD 3.68 Billion in 2022, with an expected annual revenue growth rate of 5% over the forecast period, as outlined in the latest report from Reports and Data.
Laboratory informatics refers to the application of information technology (IT) in laboratory settings to enhance data collection and analysis. This essential practice ensures the reliability and quality of data, playing a crucial role in scientific research activities by streamlining processes and enhancing experiment accuracy.
The demand for informatics systems that can interact with laboratory equipment and instruments is on the rise in line with the growing interest in laboratory automation. These technologies help boost laboratory productivity by reducing manual data entry and enabling real-time data analysis. Laboratory Information Management Systems (LIMS) and Electronic Laboratory Notebooks (ELN) have been adopted to efficiently store and manage data as laboratory operations become increasingly digitalized.
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The laboratory informatics market is witnessing revenue growth, driven in part by the adoption of cloud-based solutions. These solutions, known for their scalability, flexibility, and cost-effectiveness, have gained popularity due to the rising need for data storage and analysis capabilities. Additionally, increased government funding and initiatives in the life sciences sector contribute to the growing demand for laboratory informatics systems. Governments worldwide are making substantial investments in life sciences research and development (R&D), necessitating advanced laboratory technologies for data storage and analysis.
Key players in the Laboratory Informatics Market:
- Thermo Fisher Scientific Inc.
- Agilent Technologies, Inc.
- Waters Corporation
- PerkinElmer, Inc.
- Abbott Informatics Corporation
- Accelerated Technology Laboratories, Inc.
- LabWare, Inc.
- Lablynx, Inc.
- Autoscribe Informatics, Inc.
- Computing Solutions, Inc.
Some Key Highlights in the Report:
- In 2022, the largest share of revenue in the global laboratory informatics market was held by the LIMS segment. This was primarily due to its capacity to generate precise and dependable data, while simultaneously enhancing laboratory efficiency, productivity, and throughput. LIMS enables laboratories to streamline the organization, management, and upkeep of their data, processes, and samples, resulting in greater efficiency, data accuracy, and compliance. As a result, LIMS systems find extensive use across various sectors such as pharmaceuticals, biotechnology, healthcare, chemicals, environment, and the Food & Beverage (F&B) industry.
- During the projected period, the cloud-based segment is expected to demonstrate the highest growth rate in terms of revenue within the global laboratory informatics market. This is primarily attributed to the numerous advantages offered by cloud-based solutions, including flexibility, scalability, affordability, and accessibility from any location with internet connectivity. The cloud-based deployment approach allows users to access data and applications at their convenience and from various locations, which is particularly advantageous for laboratory researchers who often work remotely or need access to data from multiple sources.
- In 2022, North America claimed the largest share of revenue in the global laboratory informatics market. This can be attributed to the growing adoption of regulatory requirements related to laboratory informatics within the region. Additionally, the presence of major pharmaceutical and biotech companies, the increasing emphasis on Research & Development (R&D) operations, and the rising demand for laboratory automation all contribute to North America’s dominance in this market. Furthermore, the North American region is expected to witness continued revenue growth driven by the increasing demand for electronic laboratory notebooks, laboratory information management systems, and chromatography data systems.
- The European market is anticipated to experience the most rapid growth rate in terms of revenue in the global laboratory informatics market during the forecast period. This growth can be attributed to the significant presence of pharmaceutical companies and the rising demand for laboratory automation in the region. Furthermore, the adoption of laboratory informatics systems by the pharmaceuticals, biotechnology, and healthcare sectors, coupled with the increasing need for effective laboratory management and data analysis, is expected to contribute to revenue growth in this region.
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For the purpose of this report, Reports and Data has segmented the global laboratory informatics market on the basis of Product Type Outlook, Deployment Model Outlook, Component Outlook, Industry Outlook, and Regional Outlook:
Product Type Outlook (Revenue, USD Billion; 2022 – 2032)
- Laboratory Information Management Systems (LIMS)
- Electronic Lab Notebooks (ELN)
- Scientific Data Management Systems (SDMS)
- Chromatography Data Systems (CDS)
- Electronic Data Capture (EDC)
- Laboratory Execution Systems (LES)
Deployment Model Outlook (Revenue, USD Billion; 2022 – 2032)
Component Outlook (Revenue, USD Billion; 2022 – 2032)
Industry Outlook (Revenue, USD Billion; 2022 – 2032)
- Food & Beverages (F&B)
- Environmental Testing
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Regional Outlook (Revenue, USD Billion; 2022-2032)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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