The Laboratory Information Market is expected to be valued at USD 3.87 Billion in 2027 from USD 2.37 Billion in 2019, registering a CAGR of 6.8% through the forecast period. The market growth is poised to gain momentum during the projected timespan accredited to the advent of cost-efficient informatics solutions and the rising incorporation of advanced laboratory information management systems. Furthermore, the rapidly progressing advancements in laboratory informatics software solutions are projected to bolster the market’s growth in the projected timeline.
The accelerated adoption of laboratory automation services to minimize operational expenses and management costs is expected to fuel the industry’s expansion in the projected timespan. Furthermore, the growing requirement for efficient and innovative scientific data integration solutions is estimated to add traction to the market growth. Additionally, the increased convergence of laboratory services with information systems in certain key regions is boosting the market growth.
However, the dearth of skilled and knowledgeable professionals and the absence of proper standards for integrating systems implemented are expected to impede the growth of the industry in the projected timeframe.
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Key Highlights from the Report:
- Accredited to the growing demand for cost-efficient, secure, robust, and reliable implementations, the services sub-segment is predicted to command the market growth in the projected timeframe, proliferating at a CAGR of 6.8% throughout the period.
- The cloud-based sub-segment is estimated to lead the industry growth during the timeframe, registering a significantly high CAGR. The advent of cloud-based technologies in the healthcare sector has allowed enterprises to be more and accurately responsive to the requirements of their consumer, thereby boosting segment growth.
- The laboratory information management systems sub-segment is estimated to occupy a sizeable share of the industry in the forecast timeframe due to the numerous advantages associated with the systems. The systems are flexible technology interfaces for streamlining workflows in the laboratories.
- The pharmaceutical and biotechnology sub-segment is projected to contribute significantly to market revenue share during the estimated timeframe owing to the increasing need to efficiently manage the massive data volumes of vital information generated in the healthcare sector.
- North America is foreseen to command the market growth in the estimated timeframe accredited to the presence of pharmaceutical giants and the growing need to minimize the administrative costs of the information management solutions. Moreover, the increasing demand for better diagnostics, improved laboratory performance, minimal mistakes, and the incorporation of information systems in the laboratory is driving the regional growth in the region.
- Agilent Technologies, Inc., Waters Corporation, LabLynx, Inc., Thermo Fisher Scientific, Inc., Dassault Systèmes SE, LabVantage Solutions, Inc., McKesson Corporation, Cerner Corporation, Accelerated Technology Laboratories, Inc., and PerkinElmer, Inc., are some of the prominent players of the market.
- Waters Corporation, in January 2020, gained a controlling stake in Andrew Alliance SA. The addition of Andrew Alliance SA to the portfolio of Waters Corporation’s technology range to integrate modern robots and applications. This integration would assist in augmenting the workflow of customers across biotechnology, molecular biology, and healthcare industries.
For the purpose of this report, Emergen Research has segmented the Global Laboratory Informatics Market on the basis of component, deployment, solution, end-use, and region:
Component Outlook (Revenue, USD Billion; 2017–2027)
Deployment Outlook (Revenue, USD Billion; 2017–2027)
Solution Outlook (Revenue, USD Billion; 2017–2027)
- Electronic Lab Notebooks
- Scientific Data Management Systems
- Laboratory Information Management Systems
- Electronic Data Capture
- Clinical Data Management Systems
- Laboratory Execution Systems
- Chromatography Data Systems
- Enterprise Content Management
End-use Outlook (Revenue, USD Billion; 2017–2027)
- Contract Research Organizations
- Pharmaceutical & Biotechnology
- Environmental Testing Laboratories
- Oil & Gas
- Petrochemical Refineries
- Food & Beverage
Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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