Laboratory Informatics Market Size, Share, Growth Analysis, By Product(Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES)), By Delivery Mode(On-premise, Web-hosted, Cloud-based), By Component(Software, Services), By End-use(Life Sciences, CROs, Chemical Industry, F&B), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35G2216 | Region: Global | Published Date: April, 2024
Pages: 251 |Tables: 126 |Figures: 77

Laboratory Informatics Market Insights

Laboratory Informatics Market size was valued at USD 3.21 billion in 2019 and is poised to grow from USD 3.35 billion in 2023 to USD 4.91 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

An increase in demand for laboratory automation is projected to stimulate adoption in the future years. Data generated by laboratories has increased considerably in recent decades as a result of technological advances in molecular genomics and genetic testing procedures. Furthermore, the shift in preference toward personalized medicine, cancer genomics investigations, and increased patient interaction requirements is projected to drive higher demand for lab automation systems.

Software solutions are becoming more user-friendly, data is migrating to the cloud, and the number of companies in the field of laboratory informatics is growing. The cloud is increasingly becoming the standard for laboratory informatics software. Informatics suppliers must now have a cloud and SaaS strategy. Furthermore, the number of research laboratories utilizing cloud, mobile, and voice technologies is growing over time, driving up demand for lab automation solutions.

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

Market Snapshot - 2024-2031

Global Market Size

USD 3.21 billion

Largest Segment

Laboratory Information Management Systems (LIMS)

Fastest Growth

Laboratory Information Management Systems (LIMS)

Growth Rate

4.9% CAGR

Global Laboratory Informatics Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Laboratory Informatics Market Segmental Analysis

The global Laboratory Informatics Market is segmented based on product, delivery mode, component, end-use, and region. Based on product, the Laboratory Informatics market is segmented into Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES), Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Chromatography Data Systems (CDS), Enterprise Content Management (ECM). Based on delivery mode, the Laboratory Informatics market is segmented into On-premise, Web-hosted, Cloud-based. Based on component, the Laboratory Informatics market is segmented into Software, Services. Based on end-use, the Laboratory Informatics market is segmented into Life Sciences, CROs, Chemical Industry, F&B and Agriculture, Environmental Testing Labs, Petrochemical Refineries & Oil and Gas Industry, Other Industries. Based on region, the Laboratory Informatics market is categorized into North America, Europe, Asia-Pacific, and MEA.

Laboratory Informatics Market Analysis by product

In 2021, the Laboratory Information Management Systems (LIMS) segment dominated the market, accounting for more than 45% of total revenue. Master data management, sample lifecycle reporting, stability studies, system and security administration, timetables, inventories, instruments, storage capacity and logistics, and analytical workflow are examples of these systems. Demand for completely integrated services in the life sciences and research industries to reduce data management errors and improve the qualitative interpretation of research data will drive segment expansion in the coming years. Owing to these considerations, the LIMS segment is likely to maintain its position throughout the projection period. Furthermore, the superior Electronic Lab Notebooks (ELN) system sector is expected to develop significantly over the projected period as a result of growing usage by researchers in analytical chemistry labs.

Global Laboratory Informatics Market By Product, 2021 (%)

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Laboratory Informatics Market Regional Insights

North America dominated the market, accounting for more than 40% of sales in 2021. The availability of infrastructure with high digital literacy is one of the primary reasons driving the growth of this regional industry. Policies encouraging the adoption of laboratory information systems are also important. Furthermore, rising healthcare costs, along with increasing demand to bend the cost curve, have resulted in greater adoption of LIMS in this region. Furthermore, the existence of well-established pharma businesses, as well as the growing need to restrict operating expenses involved in information management and analysis, are major factors driving regional market expansion.

Because of the growing number of CROs offering LIMS solutions in Asia Pacific, the market for laboratory informatics is likely to rise rapidly in the future years. To minimize the cost of LIMS support systems and increase operational efficiency, major players outsource LIMS to enterprises in this region. Developing economies like India and China are emerging as outsourcing hotspots. The incidence of cardiovascular and infectious disorders in India has also contributed significantly to the expansion of eClinical services. Over the projected period, this is expected to contribute to a rise in demand for laboratory informatics. India has the capacity to provide the necessary infrastructure for conducting clinical trials involving low-cost patient care and evidence-based management.

Global Laboratory Informatics Market By Geography, 2021-2028
  • Largest
  • Fastest

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Laboratory Informatics Market Dynamics

Laboratory Informatics Market Driver

  • Rising demand for laboratory automation

Laboratory automation is developing as a viable solution to the challenges of laboratory professional shortages and strategies to eliminate manual intervention in lab procedures. Automation of common lab procedures boosts lab productivity and allows individual researchers to focus on critical tasks by using dedicated workstations and software to program devices. Automation generates high-quality data and allows for improved documentation. Supervisory standards, combined with severe regulatory criteria for error-free outputs, aid in the establishment of standardized systems with reproducible results. The exponential increase in data produced by lab systems has necessitated the development of efficient data storage, processing, and sharing technologies. Laboratory informatics solutions provide an effective solution to this requirement since they greatly enable, enhance, and improve laboratory process productivity and efficiency.

Laboratory Informatics Market Restraint

  • High servicing and maintenance costs

One of the primary issues impeding the growth of this market is the high maintenance and service costs associated with laboratory informatics solutions. According to industry analysts, the cost of maintaining IT solutions exceeds the cost of the product itself. Service and maintenance (which includes modifying software to meet changing user requirements) are recurrent expenses that account for around 20-30% of total cost of ownership. Furthermore, training and implementation costs account for around 15% of the total cost. Because of these factors, it is difficult for many small and medium-sized laboratories to invest in these systems, restricting their adoption. However, with the rise of cloud-based services, the impact of this constraint is projected to diminish in the coming years.

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Laboratory Informatics Market Competitive Landscape

The market is highly fragmented, with many small and major businesses competing. This creates fierce competition among smaller firms to maintain their market position. Furthermore, the businesses offer customized LIMS solutions. As a result, industry competitiveness is expected to be fierce during the projection period. Furthermore, leading players are contributing to market growth by forming alliances and developing new products. GoMeyra MD, a next-generation health care management platform, will be available in July 2021. Similarly, Abbott Informatics published STARLIMS Laboratory Execution System v1.1 in August 2021. This is based on the most recent STARLIMS Quality Manufacturing QM 12.2 standard. The launch of such cutting-edge goods is expected to promote market growth during the forecast period.

Laboratory Informatics Market Top Player’s Company Profiles

  • Thermo Fisher Scientific
  • Siemens
  • LabVantage Solutions Inc.
  • LabWare Inc.
  • Waters Corporation
  • Agilent Technologies, Inc.
  • PerkinElmer, Inc.
  • Abbott Laboratories
  • Dassault Systèmes SE
  • Autoscribe Informatics
  • LabArchives LLC
  • Arxspan LLC
  • LabKey Corporation
  • Labguru
  • Lab-Ally LLC
  • Novatek International
  • LabCentral
  • Core Informatics LLC
  • Kinematik US & EU Inc.
  • RURO Inc.

Laboratory Informatics Market Recent Development

  • In August 2021, CTI Clinical Trial and Consulting Services (CTI) partnered with LabWare, Inc. to enhance laboratory services to support rare illness and cell and gene therapy research globally.
  • In March 2021, LabVantage Solutions, Inc. launched LabVantage Analytics, a full-featured, self-service advanced analytics solution that lets users easily explore, analyze, and visualize LIMS, enterprise, and external data to gain actionable business insights.

Laboratory Informatics Key Market Trends

  • The growing popularity of cloud-based lab informatics is likely to generate considerable growth opportunities for players in the worldwide laboratory informatics market. Cloud-based technology allows vast volumes of data to be stored remotely, freeing up space on devices and facilitating data retrieval based on client requirements. PerkinElmer will debut its Signals Research Suite, a cloud-based solution based on Amazon Web Services, in October 2021. It is a secure informatics platform that delivers complete, end-to-end scientific data and workflow management for pharmaceutical and industrial customers.
  • Advances in laboratory information management systems are projected to drive the laboratory informatics industry forward. For example, in February 2019, LabVantage Solutions released LabVantage 8.4, the most recent version of its laboratory information management application. This version includes new and updated features that improve lab efficacy and efficiency while also making staff and supervisors' jobs easier.

Laboratory Informatics Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.

According to our analysis, major upcoming markets for LIMS include China, Japan, India, Singapore, Brazil, and Middle Eastern countries. These markets lack sufficient standards and government restrictions, creating enormous opportunity for vendors that are unable to match the requirements set in developed markets such as the United States. Several biopharma companies are likewise relocating manufacturing units to Asia for lower-cost production. This has resulted in a huge increase in demand for informatics solutions in Asian countries. However, the COVID-19 epidemic has forced stakeholders in developed markets such as the United States and Europe to minimize their reliance on Asian countries and return to in-house operations.

Report Metric Details
Market size value in 2023 USD 3.21 billion
Market size value in 2031 USD 4.91 billion
Growth Rate 4.9%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES), Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Chromatography Data Systems (CDS), Enterprise Content Management (ECM)
  • Delivery Mode
    • On-premise, Web-hosted, Cloud-based
  • Component
    • Software, Services
  • End-use
    • Life Sciences, CROs, Chemical Industry, F&B, Agriculture, Environmental Testing Labs, Petrochemical Refineries & Oil, Gas Industry, Other Industries
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Thermo Fisher Scientific
  • Siemens
  • LabVantage Solutions Inc.
  • LabWare Inc.
  • Waters Corporation
  • Agilent Technologies, Inc.
  • PerkinElmer, Inc.
  • Abbott Laboratories
  • Dassault Systèmes SE
  • Autoscribe Informatics
  • LabArchives LLC
  • Arxspan LLC
  • LabKey Corporation
  • Labguru
  • Lab-Ally LLC
  • Novatek International
  • LabCentral
  • Core Informatics LLC
  • Kinematik US & EU Inc.
  • RURO Inc.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Laboratory Informatics Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Laboratory Informatics Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Laboratory Informatics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Laboratory Informatics Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Laboratory Informatics Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Laboratory Informatics Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Laboratory Informatics Market size was valued at USD 3.21 billion in 2019 and is poised to grow from USD 3.35 billion in 2023 to USD 4.91 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

The market is highly fragmented, with many small and major businesses competing. This creates fierce competition among smaller firms to maintain their market position. Furthermore, the businesses offer customized LIMS solutions. As a result, industry competitiveness is expected to be fierce during the projection period. Furthermore, leading players are contributing to market growth by forming alliances and developing new products. GoMeyra MD, a next-generation health care management platform, will be available in July 2021. Similarly, Abbott Informatics published STARLIMS Laboratory Execution System v1.1 in August 2021. This is based on the most recent STARLIMS Quality Manufacturing QM 12.2 standard. The launch of such cutting-edge goods is expected to promote market growth during the forecast period. 'Thermo Fisher Scientific', 'Siemens', 'LabVantage Solutions Inc.', 'LabWare Inc.', 'Waters Corporation', 'Agilent Technologies, Inc.', 'PerkinElmer, Inc.', 'Abbott Laboratories', 'Dassault Systèmes SE', 'Autoscribe Informatics', 'LabArchives LLC', 'Arxspan LLC', 'LabKey Corporation', 'Labguru', 'Lab-Ally LLC', 'Novatek International', 'LabCentral', 'Core Informatics LLC', 'Kinematik US & EU Inc.', 'RURO Inc.'

Rising demand for laboratory automation

The growing popularity of cloud-based lab informatics is likely to generate considerable growth opportunities for players in the worldwide laboratory informatics market. Cloud-based technology allows vast volumes of data to be stored remotely, freeing up space on devices and facilitating data retrieval based on client requirements. PerkinElmer will debut its Signals Research Suite, a cloud-based solution based on Amazon Web Services, in October 2021. It is a secure informatics platform that delivers complete, end-to-end scientific data and workflow management for pharmaceutical and industrial customers.

North America dominated the market, accounting for more than 40% of sales in 2021. The availability of infrastructure with high digital literacy is one of the primary reasons driving the growth of this regional industry. Policies encouraging the adoption of laboratory information systems are also important. Furthermore, rising healthcare costs, along with increasing demand to bend the cost curve, have resulted in greater adoption of LIMS in this region. Furthermore, the existence of well-established pharma businesses, as well as the growing need to restrict operating expenses involved in information management and analysis, are major factors driving regional market expansion.

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