What is the global market size of the European Laboratory Informatics Market?

European Laboratory Informatics Market size was valued at USD 968.5 million in 2021 and is poised to grow from USD 1101.08 million in 2022 to USD 1252.12 million by 2030, growing at a CAGR of 13.59% during the forecast period (2023-2030)

European Laboratory Informatics Market Size, Share, Growth Analysis, By Product(Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN)), By Mode of delivery (On-premise solutions, cloud-based solutions), By Component(Services, and software), By End-user(Chemical testing laboratories, life sciences industry) - Industry Forecast 2024-2031

Report ID: SQMIR35G2276 | Region: Regional | Published Date: February, 2024
Pages: 242 | Tables: 121 | Figures: 72

European Laboratory Informatics Market Insights

European Laboratory Informatics Market size was valued at USD 968.5 million in 2019 and is poised to grow from USD 1101.08 million in 2023 to USD 1252.12 million by 2031, growing at a CAGR of 13.59% during the forecast period (2024-2031)

The requirement for laboratory automation is expected to grow during the forecast period, stimulating the adoption of the product because of the technological advancements in molecular genomics and genetic testing practises. The amount of data generated by laboratories has increased dramatically over the last few years. Furthermore, the trend towards personalised medicine, cancer genomics research, and increased patient engagement requirements is projected to drive up demand for lab automation systems. Increasing laboratory automation and digitalization of laboratory data, significant research and development activities, the requirement for efficient and scalable management in various application industries, technological advancements in laboratory solutions, and increasing regulatory compliance pressure are driving growth of European laboratory informatics market throughout the forecast period. However, a scarcity of qualified workers, data integration issues, and security concerns may suppress market growth to some extent.

European Laboratory Informatics Market is poised to grow at a sustainable CAGR for the next forecast year.

European Laboratory Informatics Market Report Snapshots

License Type Top market research company in USA

File Type

$3,500

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

European laboratory informatics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Abbott Informatics', 'Agilent Technologies, Inc.', 'Bio-ITech BV (eLabJournal)', 'Biomed Systems Limited', 'LabWare Inc.', 'Broughton Software Limited', 'Bytewize AB, Dassault Systemes SE', 'GenoLogics, Inc. (Illumina, Inc.)', 'Lablynx, Inc.', 'LabVantage Solutions, Inc.', 'Novatek International', 'PerkinElmer, Inc.', 'Waters Corporation', 'RURO, Inc.', 'Thermo Fisher Scientific Inc.'

Laboratory automation effectively addresses the issues of a lack of laboratory specialists and methods to reduce manual involvement in lab operations. By using specialized workstations and instrument-programming software to automate routine lab procedures, lab efficiency is improved and individual researchers are free to focus on important tasks. Automation produces high-quality data, which also results in better documentation. The availability of supervisory standards and stringent regulatory requirements for error-free results facilitate the development of standardized systems with reproducible results. The demand for efficient methods of data processing, sharing, and storage has grown as a result of the lab equipment's prodigious data production.

Increasing prevalence of powerful IT systems in diagnostic and medical laboratories, coupled with the technological advancements in LIMS, and rising substitute of old legacy LIMS with COTS LIMS is becoming beneficial for the market to grow significantly throughout the analysis period.

Laboratory automation is growing rapidly in the European region, that includes variety of pharmaceutical and biotechnology industries that rely on laboratory informatics systems for end-product manufacturing and research and development. Among others, Germany holds the major share of the market, owing to significant R&D activities in the country, increasing automatization of laboratory systems, increased government support for research activities, growth in biobanks and biorepositories, wide access of laboratory informatics products and services, and stringent regulations across industries.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

European Laboratory Informatics Market Insights

European Laboratory Informatics Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of European Laboratory Informatics Market?

Who are the key vendors in the European Laboratory Informatics Market?

What is the key driver of European Laboratory Informatics Market?

What is the key market trend for European Laboratory Informatics Market?

Which region accounted for the largest share in European Laboratory Informatics Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$3,500