European Laboratory Informatics Market by Product (LIMS, ELN, LES, EDC, ECM, CDMS, SDMS), Component (Services, Software), Delivery (On Premise, Cloud, Web), End User (Pharma, Biotech, MDx, Biobank, CRO, F&B, Oil, Gas, Chemical) - Forecast to 2024
European laboratory informatics market is expected to reach $1,084.3 million by 2024, growing at a CAGR of 6.4% during the forecast period of 2018 to 2024.
Succeeding an extensive secondary and primary research and in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, opportunities, and challenges in the market dynamics segment. Growing automation in laboratories, technological advancements in laboratory informatics solutions, growing need of regulatory compliance, and increasing R&D activities are driving the market growth. In addition, increasing focus on cloud-based informatics solutions provide immense growth opportunities for various stakeholders in the European laboratory informatics market. However, lack of skilled professionals and integration of old and new systems may hinder the market growth.
Laboratory Information Management Systems (LIMS) are widely preferred as they meet broad range of scientific needs with their ability to provide a suitable environment that is easy to use across multiple disciplines. In addition, reduced costs of IT overheads, ability to view data across an organization, data standardization, automation of laboratory processes and integration of data provides a robust platform to drive scientific decisions and improve quality and operational efficiency, thereby enabling lab professionals to productively advance research, development, and manufacturing.
In addition, the report further gives an extensive outlook on various industries served by the laboratory informatics market. These industries include life sciences industry, chemical testing laboratories, food & beverage and agriculture industries, petrochemical, and oil & gas industries. Apart from end users, the report provides insights on adoption of services and software of laboratory informatics solutions. Moreover, the study offers a comprehensive analysis of European laboratory informatics market with respect to various delivery models.
On-premise solutions dominated the European laboratory informatics market in 2017 mainly because on-premise solutions are more customizable than other two deployment models; laboratories have total ownership and authority; and this model is perceived to be more secure. However, cloud and web-based models are rapidly gaining traction in many countries in this region.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the European region along with the coverage of major countries/regions including Germany, U.K., France, Italy, Spain, Benelux, Nordics, and Rest of Europe. The geographical analysis provides detailed insights on the key trends of the industry in the listed regions/countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario. The report identifies Germany to be the largest market in the European region. The geographical analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
The major players operating in European laboratory informatics market are Abbott Informatics, Agilent Technologies, Inc., Autoscribe Informatics, Bio-ITech BV (eLabJournal), Biomed Systems Limited, Broughton Software Limited, Bytewize AB, Dassault Systemes SE, GenoLogics Life Sciences, Inc. (Illumina, Inc.), Lablynx, Inc., LabVantage Solutions, Inc., LabWare Inc, Novatek International, PerkinElmer, Inc., RURO, Inc., Thermo Fisher Scientific Inc., and Waters Corporation, among others.
Scope of the report
Market by Product: