The global laboratory informatics market size is expected to reach USD 4.21 Billion at a steady revenue CAGR of 6.5% in 2028, according to latest analysis by Emergen Research. Laboratory informatics market revenue growth is expected to be continued to be driven by factors including rising need for more cost-effective laboratory automation solutions and increasing adoption of laboratory information management systems in bio-banks or bio-repositories. In addition, constantly evolving technological advancements in software solutions for laboratory informatics and rising need to comply with regulatory standards are other major factors expected to boost revenue growth of the global laboratory informatics market during the forecast period.
The Laboratory Informatics Market report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.
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Competitive Terrain:
The global Laboratory Informatics industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Agilent Technologies, Inc., Dassault Systèmes SE, LabLynx, Inc., Thermo Fisher Scientific, Inc., LabVantage Solutions, Inc., Cerner Corporation, McKesson Corporation, PerkinElmer, Inc., Accelerated Technology Laboratories, Inc., and Waters Corporation
Some Key Highlights from the Report
- In January 2020, Waters Corporation acquired Andrew Alliance SA. The addition of Andrew Alliance extends Waters Corporation’s technology range to incorporate modern robots and applications, which would help increase the workflow of customers across healthcare, biotechnology, and molecular biology industries.
- Among the components segments, services segment accounted for a significantly high revenue share in 2020 due to rising demand for cost-efficient, secure, and reliable implementations. In addition, rising trend of outsourcing laboratory information management systems is expected to support revenue growth of the segment. Emergence of contract research organizations (CRO) with advanced resources and skilled professionals to carry out services is expected to result in increasing demand for outsourcing the services by large scale pharmaceutical companies.
- Among the deployment segments, the cloud-based segment is expected to register a significantly high revenue growth rate during the forecast period. In the healthcare sector, emergence of cloud-based technology allows enterprises to be more responsive to consumer requirements, which is expected to boost revenue growth of the segment in the years to come. Cloud technology helps in storing large volumes of data remotely to enable free space of devices and facilitate data recovery depending on needs of the clients.
- Among the solution segments, Laboratory Information Management Systems (LIMS) segment is expected to register comparatively faster revenue growth rate during the forecast period, due to increasing awareness regarding various advantages associated with use of laboratory informatics management systems. This system is a flexible technology interface for centralizing workflows in a laboratory and standardize tests, workflows, and procedures while providing accurate control of the process. Instruments are integrated into LIMS for automating and handling test data collection by trained staff.
- North America market accounted for a robust revenue share in 2020. Presence of various major pharmaceutical companies, increasing need for reducing operational costs of storing and transmitting the information, and rising adoption of CRO to outsource lab testing services in countries in the region are factors driving market revenue growth in North America.
Additional information offered by the report:
- Along with a complete overview of the global Laboratory Informatics market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Laboratory Informatics market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
Segments Covered in this report are:
Component Outlook (Revenue, USD Billion; 2018-2028)
- Software
- Services
Deployment Outlook (Revenue, USD Billion; 2018-2028)
- Cloud-based
- On-premises
- Web-hosted
Solution Outlook (Revenue, USD Billion; 2018-2028)
- Electronic Lab Notebooks
- Laboratory Information Management Systems
- Scientific Data Management Systems
- Electronic Data Capture
- Laboratory Execution Systems
- Clinical Data Management Systems
- Enterprise Content Management
- Chromatography Data Systems
Radical Highlights of the Laboratory Informatics Market Report:
- Comprehensive overview of the Laboratory Informatics market along with analysis of the changing dynamics of the market
- Growth Assessment of various market segments throughout the forecast period
- Regional and global analysis of the market players, including their market share and global position
- Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
- Impact of the technological developments and R&D advancements on the Laboratory Informatics market
- Information about profit-making strategies and developmental strategies of major companies and manufacturers
- Insightful information for the new entrants willing to enter the market
- Details and insights about business expansion strategies, product launches, and other collaborations
- The report incorporates advanced analytical tools such as SWOT analysis, Porter’s Five Forces Analysis, feasibility analysis, and investment return analysis
About Us:
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
