The laboratory informatics market is estimated to represent a global market of USD 1.98 billion by 2016 with growth rate of 5.3%. Laboratory informatics is defined as the specialized application of information technology modules that aimed at extending and optimizing laboratory operations. Factors such as increasing demand for lab automation, rising pressure to comply with regulatory requirements, technological advancements and growing awareness level among end-users supported the market growth. Furthermore, wide adoption by biobanks/biorepositories, academic research institutes, and contract service organizations coupled with decreasing cost of laboratory informatics solutions drive the market demand further. However, lack of trained professionals (particularly in developing regions) coupled with lack of integration standards for laboratory informatics hampers the market growth.
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Worldwide laboratory informatics market is categorized as Electronic Lab Notebooks (ELN), Laboratory Information Management Systems (LIMS), Enterprise Content Management (ECM), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES) and others. Among which, Laboratory Information Management Systems (LIMS) is accounted for the largest share of the global market. In 2016, this segment captured USD 845.9 million and is expected to dominate the market over the forecast period. LIMS includes management of master data, security & system administration, sample lifecycle reporting, instruments, inventory, storage & logistics, and analytical workflow. Demand for LIMS among researcher is increasing at constant rate as it enable to reduce the incidence of errors in data management and qualitative analysis of research information effectively.
In terms of delivery mode, the market is segmented into Web hosted, On Premise, and Cloud based laboratory informatics system. End user segment is categorized as Life Sciences, Clinical Research Organizations (CROs), Standalone and Integrated Laboratories, Pharmaceutical companies and others. Life Science end use captured more than 26.23% share of the global market in 2016.
Regionally, the market is analyzed as North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Rising deployment of laboratory information systems and availability of infrastructure with high digital literacy supported the market growth in developed regions such as North America and Europe. In addition, the burgeoning healthcare cost coupled with the escalating pressure to bend the cost curve resulted in increased adoption of LIMS in these regions. Asia Pacific region is projected to grow with the highest CAGR of 9.4% over the forecast period.
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Thermo Fisher Scientific, Inc. (U.S.), LabWare, Inc. (U.S.), Core Informatics, LLC (U.S.), Abbott Informatics (U.S.), LabVantage Solutions, Inc. (U.S.) and others are some of the key companies in the global laboratory informatics market. Leading laboratory informatics companies have been on the acquisition strategy, hoping to expand their market reach. For example, in July 2014, Dassault Systèmes, the 3DEXPERIENCE based company acquired Accelrys, provider of life cycle management software solution. This engagement has created new business group named “Biovia”, aimed to supply the software solutions for the laboratories. Such initiatives would in turn help the market to record high revenue over the future period.
The market size and forecast for each segment has been provided for the period 2014 to 2025, considering 2015 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2016 to 2025 for every reported segment.
The years considered for the study are:
Historical Year – 2014 & 2015
Base Year – 2015
Estimated Year – 2016
Projected Year – 2025
Traders, Distributors, And Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
MARKET, BY DELIVERY MODE
MARKET, BY END USE
Clinical Research Organizations (CROs)
Standalone and Integrated Laboratories
MARKET, BY REGION
Rest of the World
MARKET, BY COUNTRY
Further Breakdown of The North America Market
Further Breakdown of The Europe Market
Rest of Europe
Further Breakdown of The APAC Market
Rest of APAC
Further Breakdown of The Rest of the World Market
Middle East and Africa
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