Press release
Laboratory Informatics Market worth $5.6 billion by 2026 - Key Growth Dynamics and Analysis
According to the new market research report "Laboratory Informatics Market by Type of Solutions (LIMS, ELN, CDS, EDC, CDMS, LES, ECM, SDMS), Component (Software, Service), Delivery (On premise, Cloud), Industry (CRO, CMO, Pharma, Biotech, Chemical, Agriculture, Oil, Gas) - Global Forecasts to 2026", published by MarketsandMarkets™, the market is projected to reach USD 5.6 billion by 2026 from USD 3.4 billion in 2021, at a CAGR of 10.8% from 2021 to 2026.
Browse in-depth TOC on "Laboratory Informatics Market"
247 – Tables
60 – Figures
257 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203037633
The increasing need for laboratory automation; the development of integrated lab informatics solutions; the need to comply with regulatory requirements; and the 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, lack of integration standards and high maintenance and services cost are expected to restrain the growth of this market in the coming years. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
Coronavirus disease 2019 (COVID–19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS–CoV–2). Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The state of urgency to combat the outbreak led pharma & biotech companies, researchers, various diagnostic labs, and testing facilities conducting COVID-19 research to adopt advanced technologies and solutions exceeding traditional avenues to improve workflows. Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps (such as test management, sample handling, inventory control, packaging, and shipment). Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of laboratory informatics solutions, which enhance research and testing activities, along with efficient data management.
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The cloud-based models segment is expected to grow at the highest CAGR during the forecast period.
On the basis of deployment model, the laboratory informatics market is segmented into on-premise, cloud-based, and remotely hosted models. The cloud-based models segment is expected to grow at the highest CAGR during the forecast period. Factors such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model will boost the demand for cloud-based laboratory informatics solutions in the coming years. However, data transfer complexities and data security concerns may hinder the growth of this market segment.
The services segment accounted for the largest share of the market in 2020.
Based on components, the laboratory informatics market is segmented into services and software. The services segment dominated this market in 2020. The large share of the services segment can be attributed to the growing technological advancements in solution offerings by various vendors, increasing adoption of cloud-based solutions, growing need for consulting services, and the recurring nature of services. Furthermore, in terms of IT usage and skill, the life science industry relies heavily on service providers.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203037633
North America dominated the laboratory informatics solutions market in 2020.
In 2020, North America dominated the market, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the growing demand for the integration of laboratory systems, rising government funding for research, growth in biobanks, need for early drug discovery, easy availability of laboratory informatics products and services, and stringent regulatory requirements across industries.
The prominent players in the Laboratory Informatics Market are Thermo Fisher Scientific Inc. (US), LabVantage Solutions, Inc. (US), LabWare (US), Abbott Informatics (US), LabLynx, Inc. (US), Waters (US), Agilent Technologies, Inc. (US), Autoscribe Informatics (US), Dassault Systèmes (Paris, France), LABWORKS LLC (US), and PerkinElmer Inc. (US).
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Browse in-depth TOC on "Laboratory Informatics Market"
247 – Tables
60 – Figures
257 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203037633
The increasing need for laboratory automation; the development of integrated lab informatics solutions; the need to comply with regulatory requirements; and the 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, lack of integration standards and high maintenance and services cost are expected to restrain the growth of this market in the coming years. The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
Coronavirus disease 2019 (COVID–19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS–CoV–2). Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The state of urgency to combat the outbreak led pharma & biotech companies, researchers, various diagnostic labs, and testing facilities conducting COVID-19 research to adopt advanced technologies and solutions exceeding traditional avenues to improve workflows. Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps (such as test management, sample handling, inventory control, packaging, and shipment). Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of laboratory informatics solutions, which enhance research and testing activities, along with efficient data management.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=203037633
The cloud-based models segment is expected to grow at the highest CAGR during the forecast period.
On the basis of deployment model, the laboratory informatics market is segmented into on-premise, cloud-based, and remotely hosted models. The cloud-based models segment is expected to grow at the highest CAGR during the forecast period. Factors such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model will boost the demand for cloud-based laboratory informatics solutions in the coming years. However, data transfer complexities and data security concerns may hinder the growth of this market segment.
The services segment accounted for the largest share of the market in 2020.
Based on components, the laboratory informatics market is segmented into services and software. The services segment dominated this market in 2020. The large share of the services segment can be attributed to the growing technological advancements in solution offerings by various vendors, increasing adoption of cloud-based solutions, growing need for consulting services, and the recurring nature of services. Furthermore, in terms of IT usage and skill, the life science industry relies heavily on service providers.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203037633
North America dominated the laboratory informatics solutions market in 2020.
In 2020, North America dominated the market, followed by Europe. The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the growing demand for the integration of laboratory systems, rising government funding for research, growth in biobanks, need for early drug discovery, easy availability of laboratory informatics products and services, and stringent regulatory requirements across industries.
The prominent players in the Laboratory Informatics Market are Thermo Fisher Scientific Inc. (US), LabVantage Solutions, Inc. (US), LabWare (US), Abbott Informatics (US), LabLynx, Inc. (US), Waters (US), Agilent Technologies, Inc. (US), Autoscribe Informatics (US), Dassault Systèmes (Paris, France), LABWORKS LLC (US), and PerkinElmer Inc. (US).
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
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