About Laboratory Informatics
The Laboratory Informatics is one of applications of information technology that optimize and extend laboratory operations such as platforms for software, data management tools. In this process most of the scientific data are to be captured, migrated, processed and interpreted for immediate process. As a result, the demand for laboratory informatics is expected to increase in North America region due to technological advancements and emergence of digitization and big data analytics. It has been observed that most of the key players are introducing cloud based delivery mode process which flourishes the global laboratory informatics in future. The manufacturers of laboratory informatics are expanding their businesses in Asia-Pacific countries as these countries are more focus on time and paperless information management. The increased productivity of the laboratory informatics is anticipated to push the global laboratory informatics market over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 6.9% |
The laboratory informatics market offers competitive advantages by using integrated informatics. This product offers competitive market due to increased generics, price controls and cost effective solution in pharmaceutical industries in term of manufacturing and supply chain. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Laboratory Informatics market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Thermo Fisher Scientific Inc. (United States), LabVantage Solutions, Inc. (United States), LabWare (United States), Abbott Informatics (United States), LabLynx, Inc. (United States), Waters (United States), Agilent Technologies, Inc. (United States), Autoscribe Informatics (United States), Dassault Systèmes (France), KineMatik (Ireland), Accelerated Technology Laboratories (ATL) (United States) and PerkinElmer Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Cerner Corporation (United States), IDBS (United Kingdom), McKesson Corporation (United States), Bargal Analytical Instruments (Israel) and Scientific Repair (United States).
Segmentation Overview
AMA Research has segmented the market of Global Laboratory Informatics market by Type (Laboratory Information Management Systems, Electronic Lab Notebooks, Scientific Data Management Systems, Laboratory Execution Systems, Chromatography Data Systems and Clinical Data Management Systems), Application (Residential and Commercial) and Region.
On the basis of Type, Product Type are dominating the market in the year 2023 where as Laboratory Information Management Systems stood as second largest market share.
On the basis of application, Application segment is dominating the market in the year 2023 where as Commercial segment stood as second largest market .On the basis of geography, the market of Laboratory Informatics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Components, the sub-segment i.e. Software will boost the Laboratory Informatics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Life Science will boost the Laboratory Informatics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. On-Premise will boost the Laboratory Informatics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Collaboration and Tie Up Of Leading Players. and Upsurge applications of personalized medicine and cancer genomics studies through lab automation systems.
Market Growth Drivers:
Increase in Demand of Laboratory Informatics for Automation Technique. and Rise in Demand of Laboratory Informatics at Bio Banks/Bio Repositories, Academic Research Institutes and Others.
Challenges:
Lack of Trained Individual for Lab Information Solution Operation.
Restraints:
Service and Maintenance Cost is Quite High. and Lack of Integration Standards in Laboratory Informatics solution.
Opportunities:
Rise in Demand of Laboratory Informatics in Developing Countries. and Requirements of Lab Information Solutions at Cannabis Industries.
Market Leaders and their expansionary development strategies
On December 15, 2023, LabVantage, a leading provider of laboratory informatics solutions, announced the acquisition of ChemAxon, a renowned developer of cheminformatics software. This merger strengthens LabVantage's offerings in drug discovery and development.
Key Target Audience
Laboratory Informatics Manufacturers, Laboratory Informatics Traders, End-Use Market Participants of Different Segments of Laboratory Informatics, Government and Research Organizations, Associations and Industrial Bodies, Research and Consulting Firms, R&D Institutions and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.