Laboratory Informatics Market Worth $6.1 Billion by 2030 – Exclusive Report by Meticulous Research®

Redding, California, Feb. 07, 2023 (GLOBE NEWSWIRE) — According to a new market research report titled, ‘Laboratory Informatics Market by Solution Type (LIMS, ELN, EDC, CDMS, LES, ECM, SDMS), Delivery Mode (Web, Cloud, On-Premise), Component (Service, Software), End User (Pharma & Biotech, CROs, CMOs, Food & Beverage, Chemical) – Global Forecast to 2030,’ published by Meticulous Research^®, the laboratory informatics market is projected to reach $6.1 billion by 2030, at a CAGR of 6.9% from 2023 to 2030.

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Laboratory informatics is the specialized application of information technology to optimize and extend laboratory operations. There is significant growth in the adoption of laboratory informatics solutions across the globe due to the increasing need to optimize laboratory operations by improving efficiency while maximizing quality; the growing need to adhere to regulations and drive innovation; increasing automation in laboratories; and rising technological advancements in laboratory informatics.

Laboratory informatics offers advantages in managing various activities over the conventional approach. The advantages of LIMS include streamlined workflow, improved laboratory efficiency, elimination of human errors, support in regulatory compliance, inventory tracking, and increased revenue. LIMS has been transformed by incorporating artificial intelligence (AI), machine learning (ML) and advancement in biostatistics.

The global laboratory informatics market is segmented by Solution Type (Laboratory Information Management Systems, Electronic Lab Notebooks, Chromatography Data Systems, Electronic Data Capture & Clinical Data Management Systems, Laboratory Execution Systems, Enterprise Content Management, Scientific Data Management Systems), Delivery Mode (Web-based, Cloud-based, On-Premise, Integrated), Component (Service and Software), End User (Life Sciences {Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Biobanks & Biorepositories, CMOs & CROs, Other Life Science Users}, Food & Beverage Industry, Chemical Industry, Petrochemicals and Oil & Gas Industry, Environmental Testing Laboratories, and Other End Users) and Geography. The study also evaluates industry competitors and analyzes their market shares at the global and regional levels.

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Based on solution type, the market is segmented into laboratory information management systems (LIMS), electronic lab notebooks (ELN), chromatography data systems (CDS), electronic data capture (EDC) & clinical data management systems (CDMS), laboratory execution systems (LES), enterprise content management (ECM), scientific data management systems (SDMS). In 2023, the laboratory information management systems (LIMS) segment is expected to account for the largest share of this market. The factors contributing to the large market share of this segment are ease in establishing regulatory compliance in clinical trials, rising research & development expenditure, and effective management of clinical trials leading to increased adoption of laboratory Informatics.

Based on component, the market is segmented into services and software. In 2023, the service segment is expected to account for the largest share of this market. Increased demand for recurring services such as validation, integration, management, and other lab informatics services, as well as technological advancements in laboratory informatics, contribute to this segment’s large market share. Also, industries like life sciences lack resources for laboratory informatics and prefer outsourcing services, resulting in increased demand for laboratory informatics services.

Based on end user, the market is segmented into life sciences, food & beverage, chemical industry, petrochemicals and oil & gas industry, environmental testing laboratories, and other end users. In 2023, the life sciences segment is expected to account for the largest share of this market. The increasing need to maintain data integrity, validity, and security in pharmaceutical and biotechnology companies; rising R&D activities; the growing need to improve laboratory productivity; and cost efficiency are contributing to the large market share of this segment.

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Based on geography, in 2023, North America is expected to account for the largest share of the global laboratory informatics market due to the increase in R&D investments, stringent regulatory requirements, and a surge in the adoption of new technologies.

The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past three years (2020–2022). In the last couple of years, the global laboratory informatics market has witnessed product launches, collaborations, agreements, and expansions.

Some of the key players operating in the global laboratory informatics market are Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), ID Business Solutions Limited (U.K.), PerkinElmer, Inc. (U.S.), STARLIMS Corporation (U.S.), Labworks (U.S.), LabLynx, Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabWare, Inc. (U.S.), Autoscribe Informatics (U.K.), Novatek International (Canada), Dassault Systèmes (France), and Waters Corporation (U.S.).

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Scope of the Report:

Laboratory Informatics Market, by Solution Type

• Laboratory Information Management Systems (LIMS)
• Electronic Lab Notebooks (ELN)
• Chromatography Data Systems (CDS)
• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
• Laboratory Execution Systems (LES)
• Enterprise Content Management (ECM)
• Scientific Data Management Systems (SDMS)

Laboratory Informatics Market, by Delivery Mode

• Web-based Solutions
• Cloud-based Solutions
• On-premise Solutions

Laboratory Informatics Market, by Component

Laboratory Informatics Market, by End User

• Life Sciences
  • Pharmaceutical & Biotechnology Companies
  • Academic & Research Institutes
  • Biobanks & Biorepositories
  • CMOs & CROs
  • Others
• Food & Beverage
• Chemical Industry
• Petrochemicals and Oil & Gas Industry
• Environmental Testing Laboratories
• Other End Users**

Note: *Others include diagnostic laboratories and toxicology laboratories

**Other end users include forensic laboratories, and mining & metal laboratories

Laboratory Informatics Market, by Geography

• North America
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of APAC (RoAPAC)
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America (RoLATAM)
• Middle East & Africa

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