Laboratory Informatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Laboratory Informatics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global laboratory informatics market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.17% during 2022-2028.

Laboratory informatics refers to the specialized application of information technology (IT) using instruments, software, and data management tools. It functions as a central system that enables scientific data to be captured, stored, managed, processed, shared, and interpreted for immediate use. It also supports lab testing and research and development (R&D) while maximizing the efficiency of laboratory operations and ensuring high-quality and reliable data. Nowadays, laboratories are complying with stringent policies and regulatory requirements set by governments of numerous countries due to rising concerns over human health, safety, and welfare. This is catalyzing the demand for laboratory informatics worldwide.

Laboratory Informatics Market Trends:
Due to rapid globalization, organizations around the world are focusing on improving their production efficiency and reducing the time-to-market (TTM) of new products. This is resulting in the exponential growth of data, which, in turn, is influencing the market growth positively. Laboratory informatics assists in managing data and information effectively and allowing businesses to address their ever-changing quality management issues. Apart from this, the growing incidence of chronic diseases and rising medical records across the globe are also catalyzing the demand for laboratory informatics to enhance the overall quality of patient care. Additionally, the rising adoption of automation in healthcare management due to a significant shift of preferences towards personalized medicine is contributing to market growth. Moreover, due to the coronavirus disease (COVID-19) outbreak, there is a considerable rise in the need for agile laboratory informatics to manage test ordering, registration, sample flow, and result reporting. Furthermore, the leading companies are offering customized solutions and developing technologically advanced platforms to gain a competitive edge, which is anticipated to drive the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global laboratory informatics market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, delivery mode, component and end use.

Breakup by Product:

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)
Enterprise Content Management (ECM)

Breakup by Delivery Mode:

On-premises
Web-hosted
Cloud-based

Breakup by Component:

Software
Services

Breakup by End Use:

Life Science Companies
CROs
Chemical Industry
Food & Beverage and Agriculture Industries
Environmental Testing Laboratories
Petrochemical Refineries and Oil & Gas Industry
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles 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.

Key Questions Answered in This Report:
How has the global laboratory informatics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global laboratory informatics market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the delivery mode?
What is the breakup of the market based on the component?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global laboratory informatics market and who are the key players?
What is the degree of competition in the industry?