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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)

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.

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European Laboratory Informatics Market

Product ID: SQMIR35G2276