North American 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
North American laboratory informatics market is expected to grow at a CAGR of 6.2% from 2018 to reach $1,715 million by 2024. The growth of this market is mainly attributed to the growing automation in laboratories; technological advancements in laboratory informatics; growing need for regulatory compliance; and increasing demand from biobanks/biorepositories, academic research institutes, & CROs. In addition, increasing R&D activities and growing focus on cloud-based informatics solutions provide immense growth opportunities for various stakeholders in the North American laboratory informatics market. However, lack of skilled professionals may hinder the market growth.
Laboratory Information Management Systems (LIMS) are widely adopted 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, and automation of laboratory processes and integration of data provides a robust platform to drive scientific decisions and improve quality and operational efficiency, and enabling lab professionals to productively advance research, development, and manufacturing.
The report 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 laboratory informatics services and software. Moreover, the study offers a comprehensive analysis of North American laboratory informatics market with respect to various delivery modes.
On-premise solutions dominated the North American 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.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the North American region along with the coverage of countries including the U.S. and Canada. The geographical analysis provides detailed insights on the key trends of the industry in the listed countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario. The report identifies the U.S. to be the largest market in the North American 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 North American laboratory informatics market are Abbott Informatics Corporation, Agilent Technologies, Inc., 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., Sapio Sciences LLC,Thermo Fisher Scientific Inc., and Waters Corporation, among others.
Scope of the report
Market by Product: