Laboratory Informatics Market Size Worth $3.6 Billion By 2025 | CAGR: 5.3%
Published Date : 13 / 09/ 17 | Report Format: PDF
The global laboratory informatics market is expected to grow at growth rate of 5.3% to reach USD 3.6 billion by 2025.
New developments in Information Technology and medical automation are invariably linked to big flip in laboratory informatics market. Increasing introduction of intelligent instrumentation not only in terms of the volume but also in term of the variety of electronic data in the laboratory spur the market growth to great extent. Leading companies are in constant efforts to introduce novel technology based laboratory informatics devices to capture large customer base. For example, Waters Corporation has developed UNIFI Scientific Information System. This solution offers single effective platform for mass spectrometry, chromatography, data management, and laboratory workflow procedure. Water’s UNIFI software is the first and only software that enable to merge liquid chromatography and high performance mass spectrometry data into a single solution. This tend to provide healthy platform for the market growth to great extent.
Globally 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. Scientific data management systems recorded USD 221.8 million as of 2016. Associated benefits such as support in performing scientific research activities, analyzing and creating reports on laboratory instrument functions, and other functions drives the market growth of this segment.
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. Asia Pacific region is projected to grow with the highest CAGR of 9.4% over the forecast period. Asia pacific is emerging as an outsourcing hub for the laboratory informatics market due to its surging demand amongst the pharmaceutical manufacturers. Manufacturers outsource LIMS activities to improve operational efficiency and reduce the cost of LIMS support systems. Such factor will help the region to be on forefront of the market.
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. Strategic merger and acquisition is proven to be the most efficient strategies among key players to expand their market share. For instance, in March 2017, Thermo Fisher Scientific Inc. acquired Core Informatics, provider of cloud-based platform supporting scientific data management solution. Such types of acquisitions will help company to expand its presence in this market segment.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY TYPES
MARKET, BY DELIVERY MODE
- Web hosted
- On Premise
- Cloud based
MARKET, BY END USE
- Life Sciences
- Clinical Research Organizations (CROs)
- Standalone and Integrated Laboratories
- Pharmaceutical Companies
MARKET, BY REGION
- North America
- Asia Pacific
- 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
- Latin America
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