The latest report by IMARC Group, titled "Laboratory Informatics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," finds that the global laboratory informatics market size reached a value of US$ 3.3 Billion in 2021. Laboratory informatics is a specialized application that uses instruments, software, and data management tools. It functions as a central system that captures, stores, manages, shares, and interprets scientific data for immediate use. It also supports research and development (R&D) and lab testing to enhance the efficiency of laboratory operations and ensure high-quality and reliable data. Nowadays, rapid technological advancements and rising automation across various industries are escalating the demand for laboratory informatics worldwide.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Laboratory Informatics Market Trends:
The market is primarily driven by the increasing amount of data across various organizations. Laboratory informatics aids in managing data and information while allowing businesses to address their ever-changing quality management issues. In addition, the rising adoption of automation in the healthcare industry and the growing inclination toward personalized medicine is positively influencing the market growth. Moreover, due to the coronavirus disease (COVID-19) outbreak, there has been a surging need for agile laboratory informatics to manage registration, sample flow, test ordering, and result reporting. This, coupled with the introduction of customized solutions and technologically advanced platforms by key market players, is creating a positive market outlook across the globe. Looking forward, IMARC Group expects the market to reach a value of US$ 4.4 Billion by 2027, exhibiting a CAGR of 4.76% during the forecast period (2022-2027).
- Based on the product, the market has been categorized into laboratory information management systems (LIMS), electronic lab notebooks (ELN), scientific data management systems (SDMS), laboratory execution systems (LES), electronic data capture (EDC), and clinical data management systems (CDMS), chromatography data systems (CDS), and enterprise content management (ECM).
- On the basis of the delivery mode, the market has been segmented into on-premises, web-hosted, and cloud-based.
- Based on the component, the market has been bifurcated into software and services.
- On the basis of the end use, the market has been classified into life science companies, CROs, chemical industry, food & beverage and agriculture industries, environmental testing laboratories, petrochemical refineries and oil and gas industry, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being Abbott Laboratories, Agilent Technologies Inc., Dassault Systèmes, LabLynx Inc., LabVantage Solutions Inc, LabWare, PerkinElmer Inc., Thermo Fisher Scientific Inc., and Waters Corporation.
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