Laboratory Informatics Market by Solution (CDS, ELN, EDC, LES, ECM, LIMS, SDMS), Component (Software, Services), Delivery (On-Premise, Cloud, Hosted), Industry (CRO, CMO, Pharmaceutical, Biotechnology, Chemical, Agriculture, Oil) - Global Forecast to 2022
“Increase in need for lab automation to drive the Global laboratory informatics market”
The global laboratory informatics market is projected to reach USD 3.16 billion by 2022 from USD 2.32 billion in 2017, at a CAGR of 6.4% during the forecast period. The need for lab automation, technological advancements, rising pressure to comply with regulatory standards, and 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, the lack of integration standards for laboratory informatics and a dearth of trained professionals are expected to restrain the growth of this market to a certain extent.
“On-premise models to dominate the global laboratory informatics market”
Based on deployment model, the global laboratory informatics market is segmented into on-premise, cloud-based, and remotely-hosted models. The on-premise model segment is expected to dominate this market with the largest share in 2017. The large share of this segment can be attributed to the fact that the on-premise models are more customizable than cloud-based and remotely-hosted models.
“Pharmaceutical and biotechnology companies to dominate the laboratory informatics market”
Based on type, the laboratory informatics market for life science industries is segmented into pharmaceutical and biotechnology companies, biobanks and biorepositories, molecular diagnostics & clinical research laboratories, contract services organizations (CROs and CMOs), and academic research institutes. In 2017, the pharmaceutical and biotechnology companies are expected to account for the largest market share of the market. The large share of this segment is attributed to the increasing number of pharmaceutical companies moving towards epidemiology research, biomedical research, personalized medicine, and cell-based research, which require usable and well-maintained specimens.
“Asia to witness high growth during the forecast period”
By region, the global laboratory informatics market is segmented into North America, Europe, Asia, and Rest of the World (RoW). Asia is expected to register 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.
The primary interviews conducted for this report can be categorized as follows:
• By Company Type: Tier 1 – 32%; Tier 2 - 44%; Tier 3 - 24%.
• By Designation: C-level- 30%; D-level- 34%; Others - 36%.
• By Region: North America–43%; Europe.-33%; Asia 16%; Rest of the World (RoW): 8%
*Note: Others include sales managers, marketing managers, and product managers
Tiers of the companies are defined on the basis of their total revenue. As of 2015: Tier 1 = > EUR 5 billion, Tier 2 = EUR 500 million to EUR 5 billion, and Tier 3 = < EUR 500 million;
List of Companies Profiled in the report
• Thermo Fisher Scientific, Inc.
• LabVantage Solutions, Inc.
• Abbott Informatics
• Waters Corporation
• Agilent Technologies
• PerkinElmer, Inc.
• Autoscribe Informatics
• Dassault Systèmes
• Arxspan LLC
• RURO, Inc.
• LabLynx, Inc.
The report provides an overview of the global laboratory informatics solution across various industries. It aims at estimating the market size and future growth potential of this market across different segments such as type of solutions, component, delivery model, industry, end user, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them with the closest approximations of the revenue numbers for the overall laboratory informatics market and the subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses better and make suitable go-to-market strategies. The report also helps the stakeholders understand the pulse of the market and provides them with information regarding key market drivers, restraints, challenges, and opportunities.
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