USD 1.2 billion
Report ID: SQMIG35G2115 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 121 | Figures: 72
North America Laboratory Informatics Market was valued at USD 1.2 billion in 2021, and is expected to rise from USD 1.24 billion in 2022 to reach a value of USD 1.64 billion by 2030, at a CAGR of 3.50% during the forecast period (2023–2030).
North American research laboratories and organisations are increasingly revamping their strategy and leveraging laboratory informatics solutions for capturing, tracking, managing, and sharing research and manufacturing data. Furthermore, scientific innovations in genomics, proteomics, and personalized treatment are raising the requirement for reliable data management. Laboratory informatics solutions assist researchers and scientists in gathering, storing, retrieving, monitoring, searching, sharing, reporting, and collaborating their work in a seamless manner, saving time and simplifying work procedures, resulting in propelling the growth of the market during the forecast period. The Coronavirus outbreak has heightened awareness of the healthcare industry. During this pandemic, critical medical supply constraints have significantly affected the market. Government policies such as stay-at-home orders, social distancing norms, physical restrictions, and disruptions in supply chains have created a logistical problem for businesses, resulting in shortages of on-premise product delivery in the marketplace.
North America Laboratory Informatics Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.2 billion
To get more reports on the above market click here to Buy The Report
North America laboratory informatics market is segmented based on product, mode of delivery, component, end-user, and region. Based on product, the North America Laboratory Informatics Market is segmented into Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management System (CDMS), Laboratory Execution System (LES), Enterprise Content Management (ECM), and Scientific Data Management System (SDMS). With respect to segmentation by mode of delivery, the North America Laboratory Informatics Market is segmented into on-premise solutions, cloud-based solutions, and web-based solutions. On the basis of components, the North America Laboratory Informatics Market is bifurcated into services, and software. By end-user, the North America Laboratory Informatics Market is split into chemical testing laboratories, life sciences industry, food & beverage and agriculture industries, petrochemical and oil & gas industries. Regionwise, North America Laboratory Informatics Market is categorized into U.S., Canada, and others.
North America Laboratory Informatics Market Analysis by Product
Based on product, the North America laboratory informatics market is segmented into Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management System (CDMS), Laboratory Execution System (LES), Enterprise Content Management (ECM), Scientific Data Management System (SDMS) LIMS is predicted to hold the largest share, and consequently it will also grow with the fastest growth rate during the analysis period. The LIMS solutions are extensively used because they fulfil a broad range of scientific requirements by providing an appropriate environment that is easy to use across multiple disciplines. Furthermore, LIMS assist laboratories in reducing manual efforts, labour costs, error costs, and throughput time; providing digitized information management and effective data analytics; improving data traceability, accessibility, security, and sharing; streamlining processes; enhancing quality management; adhering to regulatory requirements, and providing better control of all business operations and decision support.
North America Laboratory Informatics Market Analysis by Mode of Delivery
Based on mode of delivery, the market is segmented into on-premise solutions, cloud-based solutions, and web-based solutions. The on-premise informatics segment holds a major share because it is the most widely used mode of software delivery and offers greater customization, complete ownership and authority, and security. However, due to some factors including no upfront capital investment for hardware, excessive storage flexibility and scalability, real-time accessibility from anywhere, and pay-as-you-go pricing features, the cloud-based informatics segment is expected to grow at the fastest CAGR throughout the forecast period.
To get detailed analysis on other segments, Request For Sample Report
The United States dominated the North American laboratory informatics market in 2022 and is likely to continue dominance during the forecast period as well. This is, attributed to the prevalence of advanced laboratory infrastructure, continued growth for laboratory system integration, rapidly increasing digitalization, surging government funding for research work, widespread accessibility of laboratory informatics products and services, robust regulatory requirements across industries, and the availability of several important companies in this region enhancing availability of products and support. Increasing laboratory infrastructure and automation in the country is modifying laboratory workflow and allowing for greater penetration of technologies and workflows in R&D labs, food & beverage industries, CROs & CMOs, and other sectors.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
North America Laboratory Informatics Market Driver
Increase in Investments on R&D to Augment Growth
North America Laboratory Informatics Market Restraint
High Cost of Laboratory Service and Maintenance to Hamper Growth
One of the major factors impeding the expansion of this market is the high service and maintenance expenses related with laboratory informatics solutions. Service and maintenance are recurring costs that constitute nearly 20-30% of full ownership costs. Furthermore, training and implementation costs account for approximately 15% of the total cost. As a result of these factors, many small and medium-sized laboratories have issues regarding investment in these systems, limiting their user acceptance. However, with the rise of cloud-based services, the impact of this constraint is expected to diminish in the coming years.
Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report
The North America laboratory informatics market is highly competitive in nature. To maintain a competitive edge, the major industry participants are implementing various growth strategies. Innovations, mergers, and 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.
North America Laboratory Informatics Market Top Player's Company Profiles
North America Laboratory Informatics Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our North America laboratory informatics market analysis, the North America-based laboratory informatics market is growing due to the high volume of WHO-recommended COVID-19 tests, healthcare laboratory informatics solutions were executed. Similarly, health‐care laboratory informatics market participants are rapidly incorporating AI and data analytics to undertake additional research on the various virus strains. But, the lack of integration standards and interoperability issues are expected to limit market growth to some extent.
|Market size value in 2021||USD 1.2 billion|
|Market size value in 2030||USD 1.24 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
Free report customization with purchase. Customization includes:-
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the North America 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 North America 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the North America Laboratory Informatics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the North America 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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
"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.