Global Laboratory Informatics Market (2021 to 2026) - Growing Popularity of Cloud-Based Laboratory Informatics Presents Opportunities

DUBLIN, Oct. 21, 2021 /PRNewswire/ -- The "Global Laboratory Informatics Market by Type of Solutions (LIMS, ELN, CDS, EDC, CDMS, LES, ECM, SDMS), Component (Software, Service), Delivery (On premise, Cloud), Industry (CRO, CMO, Pharma, Biotech, Chemical, Agriculture, Oil, Gas) - Forecasts to 2026" report has been added to ResearchAndMarkets.com's offering.

The global laboratory informatics market is estimated to reach USD 5.6 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 10.8% during the forecast period.

The increasing need for laboratory automation; development of integrated lab informatics solutions; need to comply with regulatory requirements; and the growing demand in biobanks/biorepositories, academic research institutes, and CROs are the major factors driving the growth of the laboratory informatics market. On the other hand, lack of integration standards and high maintenance and service costs are expected to restrain the growth of this market in the coming years.

LIMS segment is projected to record the highest CAGR

Based on type of solution, the laboratory informatics market is segmented into laboratory information management systems (LIMS), electronic lab notebooks (ELN), chromatography data systems (CDS), electronic data capture (EDC) & clinical data management systems (CDMS), laboratory execution systems (LES), enterprise content management (ECM), and scientific data management systems (SDMS). The LIMS segment is projected to record the highest CAGR owing to the wide range of benefits associated with the use of these systems, including increased workflow efficiencies, reduced transcription errors, easy integration with other lab systems, and better regulatory compliance. Additionally, growing adoption of LIMS in biobanks and biorepositories as well as academic research organizations and CROs and CMOs create a positive impact on the growth of this market.

Services segment is expected to register the highest growth during the forecast period

Based on the component, the laboratory informatics market is segmented into services and software. The services segment dominated this market in 2020. The large share of the services segment can be attributed to the growing technological advancements in solution offerings by various vendors, increasing adoption of cloud-based solutions, growing need for consulting services, and the recurring nature of services. Furthermore, in terms of IT usage and skill, the life science industry relies heavily on service providers.

Asia to witness high growth during the forecast period.

By region, the global laboratory informatics market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America dominated the market in 2020. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. However, Asia is expected to register the highest CAGR during the forecast period. Factors such as growing R&D investments, growing awareness of lab informatics solutions, increase in drug development-based research, and rising pressure to comply with regulatory requirements are driving the growth of the laboratory informatics market in Asia.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Laboratory Informatics Market Overview
4.2 Laboratory Informatics Market, by Lims Type, 2021-2026
4.3 Laboratory Informatics Market Share, by Industry & Region (2020)
4.4 Geographical Snapshot of the Laboratory Informatics Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Need for Laboratory Automation
5.2.1.2 Development of Integrated Lab Informatics Solutions
5.2.1.3 Stringent Regulatory Requirements
5.2.1.4 Growing Demand for Lab Informatics in Biobanks/Biorepositories, Academic Research Institutes, and Cros
5.2.1.5 Growing R&D Expenditure in Pharmaceutical and Biotechnology Industries
5.2.2 Restraints
5.2.2.1 High Maintenance and Service Costs
5.2.2.2 Lack of Integration Standards for Lims
5.2.2.3 Interoperability Challenges
5.2.3 Opportunities
5.2.3.1 Growing Popularity of Cloud-Based Laboratory Informatics
5.2.3.2 Significant Growth Potential in Emerging Countries
5.2.3.3 Use of Lab Informatics Solutions in the Cannabis Industry
5.2.4 Challenges
5.2.4.1 Dearth of Trained Professionals
5.2.4.2 Interfacing with Diverse Laboratory Instruments
5.3 Impact of COVID-19 on the Laboratory Informatics Market
5.4 Value Chain Analysis
5.5 Ecosystem
5.6 Porter's Five Forces Analysis
5.7 Pricing Analysis
5.8 Technology Analysis
5.9 Regulatory Analysis
5.10 Case Study Analysis

6 Laboratory Informatics Market, by Type of Solution
6.1 Introduction
6.2 Laboratory Information Management Systems
6.2.1 Broad-Based Lims
6.2.1.1 Broad-Based Lims Offers Advantages Such as Faster Roi and Reduced Total Cost of Ownership
6.2.2 Industry-Specific Lims
6.2.2.1 Need for Laboratories to Implement In-House Customized Lims Solutions to Cater to Specific Industry Requirements to Support Market Growth
6.3 Electronic Lab Notebooks
6.3.1 Increasing Need for Compliance with Regulations, Ip Protection, and Instrument Management to Support Market Growth
6.4 Chromatography Data Systems
6.4.1 Chromatography Data Systems are Used to Interpret Data from Chromatography Instruments and Convert It into a Human-Readable Format
6.5 Electronic Data Capture & Clinical Data Management Systems
6.5.1 Increasing R&D Expenditure of Pharmaceutical Companies to Drive the Adoption of Edc & Cdms
6.6 Laboratory Execution Systems
6.6.1 Laboratory Execution Systems Provide an Electronic Environment That Removes Paper Processes
6.7 Enterprise Content Management Systems
6.7.1 Enterprise Content Management Systems Increase Productivity for Organizations by Saving Time Spent on Manual Tasks
6.8 Scientific Data Management Systems
6.8.1 Sdms is Designed Primarily for Data Consolidation, Knowledge Management, and Knowledge Asset Realization

7 Laboratory Informatics Market, by Component
7.1 Introduction
7.2 Services
7.2.1 Increasing Adoption of Cloud-Based Solutions to Drive the Demand for Lab Informatics Services
7.3 Software
7.3.1 Shifting Trend Toward Laboratory Automation is the Key Factor Driving Market Growth

8 Laboratory Informatics Market, by Deployment Model
8.1 Introduction
8.2 On-Premise Model
8.2.1 Growth of this Segment is Declining as On-Premise Solutions Have a High Cost of Ownership
8.3 Cloud-Based Model
8.3.1 this Segment is Expected to Grow at the Highest Rate During the Forecast Period
8.4 Remotely Hosted Model
8.4.1 Factors Such as the Low Total Cost of Ownership and a Good Return on Investment are Expected to Drive the Growth of this Market Segment

9 Laboratory Informatics Market, by Industry
9.1 Introduction
9.2 Life Sciences Industry
9.2.1 Pharmaceutical & Biotechnology Companies
9.2.1.1 Pharmaceutical & Biotechnology Companies are Increasingly Adopting Informatics Solutions to Improve Their Efficiency
9.2.2 Biobanks & Biorepositories
9.2.2.1 Demand for High-Quality Specimens Has Boosted the Use of Automated Systems
9.2.3 Academic Research Institutes
9.2.3.1 Advances in Cancer, Genomics, and Proteomics Research to Support Market Growth
9.2.4 Molecular Diagnostics & Clinical Research Laboratories
9.2.4.1 Clinical Labs Offer Significant Opportunities for the Growth of the Lab Informatics Market
9.2.5 Contract Service Organizations
9.2.5.1 Increasing Number of Clinical Trials Will Support the Growth of this Market Segment
9.3 Chemical Industry
9.3.1 Need to Integrate Systems and Centralize Databases Has Driven the Use of Informatics
9.4 Food & Beverage and Agriculture Industry
9.4.1 Lab Informatics Solutions Can Provide Data Traceability and Accessibility in the Food & Beverage Industry
9.5 Petrochemical Refineries and Oil & Gas Industry
9.5.1 Integration of Operations is a Key Function of Lab Informatics Solutions in this Segment
9.6 Environmental Testing Laboratories
9.6.1 Growing Need to Comply with Regulations is Driving the Demand for Lims
9.7 Other Industries

10 Laboratory Informatics Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Market Ranking
11.3 Market Share Analysis
11.4 Company Evaluation Quadrant
11.4.1 Stars
11.4.2 Emerging Leaders
11.4.3 Participants
11.4.4 Pervasive Players
11.5 Company Evaluation Quadrant for Emerging Players
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Starting Blocks
11.5.4 Dynamic Companies
11.6 Competitive Benchmarking
11.6.1 Overall Footprint of Companies
11.6.2 Product Footprint of Companies
11.6.3 Industry Footprint of Companies
11.6.4 Regional Footprint of Companies
11.7 Competitive Scenario
11.7.1 Product Launches & Upgrades
11.7.2 Deals
11.7.3 Other Developments

12 Company Profiles
12.1 Key Players
12.1.1 Thermo Fisher Scientific, Inc.
12.1.2 Labvantage Solutions, Inc.
12.1.3 Labware
12.1.4 Abbott Informatics (A Subsidiary of Abbott Laboratories)
12.1.5 Waters Corporation
12.1.6 Lablynx, Inc.
12.1.7 Agilent Technologies, Inc.
12.1.8 Dassault Systemes
12.1.9 Perkinelmer
12.1.10 Accelerated Technology Laboratories
12.1.11 Labworks
12.1.12 Idbs
12.1.13 Oracle Corporation
12.1.14 Xybion Corporation
12.2 Other Players
12.2.1 Caliber Universal
12.2.2 Agaram Technologies
12.2.3 Siemens
12.2.4 Computing Solutions, Inc.
12.2.5 Novatek International
12.2.6 Horizon Lims (A Part of Redarrow Labs)
12.2.7 Anju Software (A Portfolio Company of Abry Partners)
12.2.8 Eusoft Ltd.
12.2.9 Promium
12.2.10 Apollolims
12.2.11 Labtrack
12.2.12 Cloudlims
12.2.13 Autoscribe Informatics
12.2.14 Kinematik

13 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/jf70lf

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets

Related Links

http://www.researchandmarkets.com