Laboratory Informatics Industry Overview
The global laboratory informatics market size is expected to reach USD 4.91 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.9% from 2022 to 2030. Increasing requirements for life sciences companies to comply with regulatory demands has further promoted the incorporation of Laboratory Information Management Systems (LIMS) as it helps professionals understand and fulfill complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to drive the market over the forecast period. The rising adoption of LIMS solutions by biobanks, coupled with the increasing demand for integrated healthcare solutions, is the key factor contributing to the growth of the market. In addition, growing awareness levels amongst the end-use segments and the technological evolution of LIMS solutions are anticipated to fuel the growth in the coming years.
Laboratory Informatics Market Segmentation
Grand View Research has segmented the global laboratory informatics market by product, delivery mode, component, end use, and region:
Based on the Product Insights, the market is segmented into Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES), Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Chromatography Data Systems (CDS) and Enterprise Content Management (ECM).
- The Laboratory Information Management Systems (LIMS) segment dominated the market and held a revenue share of over 45.0% in 2021. These systems include master data management, reporting of sample lifecycle, stability study, system and security administration, schedules, inventory, instruments, storage capacity and logistics, and analytical workflow.
- The superior Electronic Lab Notebooks (ELN) system segment is anticipated to witness significant growth over the forecast period due to its increased adoption by researchers in analytical chemistry labs.
- The Enterprise Content Management(ECM) segment is anticipated to register a CAGR of 3.3% during the forecast period. The adoption of ECM is increasing over time as it offers integrated and comprehensive solutions to meet the growing challenges in the healthcare industry.
Based on the Delivery Mode Insights, the market is segmented into On-premise, Web-hosted and Cloud-based.
- The cloud-based segment dominated the market and accounted for a revenue share of over 40.0% in 2021 and is expected to maintain its dominance throughout the forecast period. Cloud-based technology helps in storing large amounts of data remotely to allow free space on devices and facilitate data retrieval according to client needs.
- On-premise delivery mode involves the installation of services and solutions on computers present within the organization.
- Web-based LIMS solutions are delivered to users through web servers using the internet protocol. Web-based solutions comprise four elements including internet connection, web server, data administrator, and the software coding system.
Based on the Component Insights, the market is segmented into Software and Services.
- The services segment dominated the market and accounted for a revenue share of over 55.0% in 2021 and is anticipated to maintain its position over the forecast period.
- The software segment is expected to witness lucrative growth over the forecast period due to the availability of technologically advanced software, such as SaaS, which offers effective information management solutions for laboratories.
Based on the End-use Insights, the market is segmented into Life Science, CROs, Chemical Industry, Food & Beverage and Agriculture Industries, Petrochemical Refineries and Oil & Gas Industry, and Others (Forensics and Metal & Mining Laboratories).
- The life science companies segment accounted for the largest revenue share of over 25.0% in 2021. This segment encompasses biobanks, molecular diagnostic and clinical research laboratories, contract service organizations, pharmaceutical and biotechnology companies, and academic research institutes.
- The demand for laboratory informatics is increasing in the life sciences industry to develop innovative products and improve product quality and operational efficiency.
- Increasing technological advancements in the healthcare sector owing to the rising R&D in the field of medicine are anticipated to fuel the demand for LIMS.
- The CROs segment is expected to witness profitable growth during the forecast period due to the growing trend of outsourcing.
Laboratory Informatics Regional Outlook
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Key Companies Profile & Market Share Insights
The market is highly fragmented with many small and large players operating in this space. This leads to intense competition within smaller players to sustain their position in the market. Moreover, the companies are providing customized LIMS solutions. Hence, rivalry within the industry is anticipated to be high during the forecast period.
Some prominent players in the global laboratory informatics market include:
- Thermo Fisher Scientific, Inc.
- Core Informatics
- PerkinElmer, Inc.
- LabVantage Solutions, Inc.
- LabLynx, Inc.
- Agilent Technologies
- ID Business Solutions Ltd.
- McKesson Corporation
- Waters Corporation
- Abbott Informatics
Order a free sample PDF of the Laboratory Informatics Market Intelligence Study, published by Grand View Research.