Laboratory Informatics Market by Product (LIMS, ELN, LES, EDC, ECM, CDMS, SDMS), Component (Services, Software), Delivery (On Premise, Web, Cloud), End User (Pharma, Biotech, MDx, Biobank, CRO, F&B, Oil, Gas, Petroleum, Chemical) - Global Forecast to 2023
The laboratory informatics market is characterized by constant technological advancements to keep pace with the changing industrial needs. The growth of this market is fueled by the growing automation in laboratories, increasing penetration of new technologies; evolving quality regulations; growing awareness and availability of laboratory informatics solutions; growing application in biobanking, academic research, and CROs; and rising R&D activities and need for early drug discovery.
Laboratory informatics market is expected to reach USD 3,531.2 million by 2023, at a CAGR of 6.5% during the forecast period of 2018 to 2023.
Succeeding an extensive secondary and primary research on the laboratory information management systems and an 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. Emerging economies of Asia-Pacific, Latin America, and Middle East & Africa and increasing adoption of cloud-based informatics solutions provide immense growth opportunities for various stakeholders in the global laboratory informatics market. However, lack of skilled professionals and challenges associated with integration of old and new systems may hinder the adoption of these systems to some extent.
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. These end user segments further briefly talk about the trends impacting the growth of these markets and the benefits involved with the use of laboratory informatics solutions in these verticals to improve overall efficiency and outcomes.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. The geographical analysis provides detailed insights on the key trends in the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario. The report identifies North America to be the largest market followed by Europe, Asia-Pacific, and Rest of the World. The geographical analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
The report also includes the competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2015-2018).
The major players in the global laboratory informatics market are Abbott Informatics Corporation, Agilent Technologies, Arxspan, LLC, Autoscribe Informatics, Dassault Systemes SE, GenoLogics (Illumina, Inc.), LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., Novatek International, PerkinElmer, Inc., Promium LLC, RURO, Inc., Thermo Fisher Scientific Inc., and Waters Corporation among others.
Scope of the report
Market by Product:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook