What Has Been the Growth of the Laboratory Informatics Market So Far?
The laboratory informatics market has seen considerable growth due to a variety of factors.
• There has been substantial growth in the laboratory informatics market size in the past few years. The market, standing at $3.8 billion in 2024, is set to increase to $4.03 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.0%.
The historic escalation is attributed to the emergence of electronic lab notebooks, the automation of laboratories, an increase in pharmaceutical research and development activities, system integration within labs, along with the escalating complexity of research.
What Are the Future Growth Projections for the Laboratory Informatics Market?
The laboratory informatics market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for swift expansion in the laboratory informatics market over the coming years. Projected to rise to a value of $6.24 billion by 2029, the market is set to experience a compound annual growth rate (CAGR) of 11.6%.
Growth during the forecast period can be credited to factors such as the ever-increasing adoption of cloud-powered solutions and mobile informatics solutions, a surge in research collaborations across the globe, initiatives around data standardization, renewed focus on environmental tracking, and the advent of remote access and virtualization. Significant trends foreseen during the forecast period encompass advancements in data visualization tools, a seamless integration across platforms, an amplified user experience, and successful incorporations of blockchain technology.
What Are The Core Factors Supporting Growth In The Laboratory Informatics Market?
The growth of the laboratory informatics market is predicted to be driven by the escalating demand for lab automation during the forecast phase. The frequent manifestation of human mistakes in lab operations has prompted laboratory firms to gravitate towards automated solutions. In a study by AZoLifeSciences, it was revealed that human error accounts for 30-86% of pre-analytical activities in labs. Lab automation employs automatic laboratory tools and sophisticated analytical software to deliver exact, meticulous results on a large scale. It results in better data precision and reliability, while also significantly reducing costs linked to manual operations. Thus, the burgeoning requirement for lab automation is foreseen to stimulate the laboratory informatics market in the coming years.
What Are The Major Segments Within The Global Laboratory Informatics Market?
The laboratory informatics market covered in this report is segmented –
1) By Type: Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) And Clinical Data Management Systems (CDMS), Laboratory Execution Systems (LES), Enterprise Content Management (ECM), Scientific Data Management Systems (SDMS)
2) By Component: Services, Software
3) By Deployment Model: On-premise, Cloud-based, Remotely Hosted
4) By Industry: Life Sciences Industry, Chemicals Industry, Food And Beverage And Agriculture Industry, Petrochemical Refineries And Oil And Gas Industry, Environmental Testing Laboratories, Other Industries
Subsegments:
1) By Laboratory Information Management Systems (LIMS): Sample Management, Workflow Management, Quality Control
2) By Electronic Lab Notebooks (ELN): Data Capture, Collaboration Tools, Compliance Management
3) By Chromatography Data Systems (CDS): Data Acquisition, Data Analysis, Reporting And Compliance
4) By Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS): Data Collection, Data Validation, Clinical Trial Management
5) By Laboratory Execution Systems (LES): Workflow Automation, Resource Management, Compliance Tracking
6) By Enterprise Content Management (ECM): Document Management, Records Management, Digital Asset Management
7) By Scientific Data Management Systems (SDMS): Data Integration, Data Storage, Data Retrieval
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Which Trends Are Expected To Transform The Laboratory Informatics Market?
The rising trend of technological innovation is becoming increasingly prevalent in the laboratory informatics market. Firms active in this field are progressively investing in the creation of cutting-edge software suites to cater to the unique operating needs of laboratory clients worldwide. For example, in February 2022, Biosero, Inc., an American lab automation firm, introduced the Green Button Go software suite. It provides automated workflows for everything from a single workstation to activities spanning multiple labs. This suite has numerous uses, including managing and scheduling different lab instruments and devices from a single platform. It employs automation, utilizing various algorithms and codes to save and present results.
Who Are the Key Players in the Laboratory Informatics Market?
Major companies operating in the laboratory informatics market include:
• Thermo Fisher Scientific Inc.
• LabVantage Solutions Inc.
• LabWare Inc.
• STARLIMS Corporation
• LabLynx Inc.
• Waters Corporation
• Autoscribe Informatics
• LABWORKS LLC
• Cerner Corporation
• McKesson Corporation
• ID Business Solutions Limited
• Arxspan LLC
• Kinematik Ltd.
• RURO Inc.
• Accelerated Technology Laboratories Inc.
• Agilent Technologies Pvt. Ltd.
• PerkinElmer Inc.
• Dassault Systèmes SE
• Novatek International Inc.
• LabArchives Inc.
• Bio-ITech BV
• GenoLogics Life Sciences Software Inc.
• LabKey Corporation
• LabSoft LIMS by Computing Solutions Inc.
• LIMS-plus
• Promium LLC
• Danaher Corporation
• Siemens Healthineers AG
• GE Healthcare Technologies Inc.
• Epic Systems Corporation
What Is The Most Dominant Region In The Laboratory Informatics Market?
North America was the largest region in the laboratory informatics market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laboratory informatics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
