The Global Laboratory Informatics Market has accounted for USD 2.86 billion in 2016 and is expected to reach USD 4.89 billion by 2024, growing at a CAGR of 7.0% in the forecasted period 2016 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The laboratory informatics market is experiencing a significant growth owing to factors such as the increasing demand for lab regulatory compliance across developed nations across diagnostics and industrial laboratory setups. Also the growing demand for lab automation in stem cell biobanking academic research organizations and contract manufacturing and research is expected to bolster the growth of this market in the near future. In latest years there is an upsurge of technological developments in laboratory informatics software which is expected to increase the already swollen demand for these software and services in the forecast period.
Though the market may be limited owing to lack of standardization across laboratory infrastructures and also shortage of trained operators, though there is an increase in availability of these products in the market. Companies lack training modules and program instructors to train sufficient operators to match the increasing demand for this market.
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Market Segmentation: Global Laboratory Informatics Market
The global laboratory informatics market is segmented based on product type, deployment, component, industry and geography.
On the basis of product type the market is segmented into 6 products namely laboratory information management systems (LIMS), electronic lab notebooks (ELN), scientific data management systems (SDMS), laboratory execution systems (LES), clinical data management systems (CDMS) and, chromatography data systems (CDS). The LIMS segment is the primary growth segment, growing at the highest CAGR of 10.2% in the forecast period and is expected to reach 1.80 billion by 2020.
On the basis of deployment the market is segmented into on-premise, cloud based and web based modules. The deployment segment’s dynamics varies geographically the web based systems may dominate the market and have significant growth in the developed geography. However the cloud based segment is experiencing a significant growth in the emerging markets of Asia-Pacific and South America. The market is also segmented on the basis of components into software and services.
The usage of laboratory informatics is spread across multiple industries globally. In the report global laboratory informatics market the segmentation on the basis of industry is life science, petrochemical, chemicals, food and beverages, environmental testing, forensics among others. The life science industry is further segmented into pharmaceutical, biotechnology, biobanking, contract service organizations (CRO), clinical research laboratories and academic research institutes.
Based on geography the global laboratory informatics market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and rest of the world. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. U.S. is expected to dominate the market due to the rising need of laboratory compliance, replacement of old manual technology with LIMS software, availability of products, government initiatives to downsize healthcare cost by increasing automation among others. Asia-pacific is the geographical revenue pockt in coming years with increasing research and development activities, increasing number of CRO and a growing pharmaceutical manufacturing dominance in this region.
Major Market Competitors: Global Laboratory Informatics Market
Major Players In This Market Are:
- Ardigen SA,
- Genologics (A Illumina Company),
- Thermo Fisher Scientific, Inc.,
- AgileBio LLC,
- LabWare, Inc.,
- Fortress Medical,
- Core Informatics,
- LLC, CloudLIMS,
- Abbott Informatics,
- Agaram Technologies Pvt Ltd,
- Schimadzu Corporation,
- LabVantage Solutions, Inc.,
- LabLynx, Inc.,
- PerkinElmer, Inc.,
- Khemia Software, Inc.,
- Bargal Analytical Instruments,
- Waters Corporation,
- Ennov Group,
- Computing Solutions, Inc.,
- Scientific Repair, Inc.,
- Jasco, Arxspan,
- LLC, KNAUER Wissenschaftliche Geräte GmbH,
- Agilent Technologies, Inc.,
- Dassault Systèmes
- ID Business Solutions Ltd.
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