According to Nova one advisor, the North America Laboratory Informatics market gathered revenue around USD 6.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 8.8%during the prediction period 2022 to 2030.
According to Nova one advisor, the North America Laboratory Informatics market gathered revenue around USD 6.9 billion by the end of 2030 and is estimated to expand at a modest CAGR of 8.8%during the prediction period 2022 to 2030.
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Increasing R&D activities & growing automation drives the market growth
Increasing R&D activities help in drug discovery and drug development. This in turn, boosts the demand for efficient lab and data management. Growing number of companies involved in R&D are shifting from traditional old systems to digital laboratory solutions. This is because laboratory informatics solutions allow researchers to capture the experiment process, relevant data, and conclusions that were drawn, while simultaneously facilitating a searchable repository of experimental data that researchers can access for effective collaboration. North American R&D spending in the life sciences industry increased by 4.5% to reach $177.6 billion in 2017 while, the U.S. R&D spending for the life sciences industry increased by 3.5% to reach $74.6 billion in 2017. Moreover, academic research is a strong and essential component of the total R&D environment in the U.S. performing nearly 60% of all the basic research. Life sciences field has the largest application of academic research, comprising more than 56% of all academic R&D funding. Thus, significant government funding and academic research focused on life sciences applications provide growth impetus for North American laboratory informatics market.
Laboratories face unstoppable pressure to produce faster turnaround times and reduce errors to improve the research work. Laboratory automation has continued to evolve and expand its capabilities to become an indispensable necessity. Factors such as rising pressure to abide by regulations, improving lab infrastructure, progressing drug discovery and outsourcing of research to CROs, and need to improve efficiencies and have competitive edge in the market are pushing laboratories across the globe towards automation. With growing automation, it becomes essential to manage increasing volumes of data at a faster rate. Informatics solutions can significantly improve the effectiveness and efficiency of an organization’s laboratory operations. Furthermore, the automation of laboratory processes and the integration of data provide a platform to drive scientific decisions, improve quality, and ultimately enable lab professionals to productively advance research, development, and manufacturing. Thus, growing lab automation subsequently drives the growth of the North America laboratory informatics market.
Report Scope of the North America Laboratory Informatics Market
| Report Coverage | Details |
| Revenue Projection By 2030 | USD 6.9 Billion |
| Growth Rate | CAGR of 8.8% from 2022 to 2030 |
| Base Year | 2021 |
| Historical data | 2018 - 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Product, Mode of Delivery, Component, End User |
| Companies Mentioned | Abbott Informatics Corporation, Agilent Technologies, Inc., Arxspan, LLC, Autoscribe Informatics, Dassault Systemes SE, GenoLogics (Illumina, Inc.), LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., Novatek International, PerkinElmer, Inc., Promium LLC, RURO, Inc., Sapio Sciences LLC, Thermo Fisher Scientific Inc., and Waters Corporation |
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Laboratory Information Management System (LIMS) to witness the largest demand during the forecast period
LIMS solutions are widely adopted as they meet broad range of scientific needs with their ability to provide a suitable environment that is easy to use across multiple disciplines. Moreover, LIMS help laboratories to reduce manual efforts, labor cost, cost of error, and throughput time; offer paperless information management and effective data analytics; improve data traceability, accessibility, security and sharing; streamline processes; enhance quality management; abide by the regulatory requirements, and provide better control of all business processes and decision support. Such factors contribute to the largest share and fastest growth of LIMS market during the forecast period.
On-premise informatics currently dominates the market but web & cloud-based solutions are rapidly gaining traction
On-premise informatics dominates the market as it has been traditionally adopted mode of software delivery, and provides better customization options, total ownership and authority, and security. However, cloud-based informatics segment is expected to witness the highest CAGR during the forecast period owing to factors such as no upfront capital investment for hardware, extreme storage flexibility and scalability, real-time accessibility from anywhere, and pay-as-you-go pricing features.
Life Sciences industry is the largest end user of laboratory informatics solutions in this region
Life sciences industry is expected to continue dominate the North American laboratory informatics market during the forecast period. The high growth of this end-user segment is mainly attributed to growing R&D activities and outsourcing to CROs, presence of strict regulatory guidelines, growing academic research, increasing biobanks and biorepositories, replacement of old legacy systems with advanced informatics solutions, growing automation, and rising need to integrate laboratory systems.
The U.S. comprise significant market share in the North America laboratory informatics market
This research report analyzes North America laboratory informatics market including the U.S., and Canada. The U.S. majorly dominates the North American laboratory informatics market owing to presence of advanced laboratory infrastructure, growing demand for integration of laboratory systems, growing digitalization, rising government funding for research activities, easy availability of laboratory informatics products and services, stringent regulatory requirements across industries, and presence of several key players in this region improving product availability and support services. Improving laboratory infrastructure and automation in the country is changing the workflow of laboratories and is enabling greater penetration of technologies and workflows in research & development labs, food & beverage industries, CROs & CMOs, and various other sectors.
Some of the prominent players in the North America Laboratory Informatics market include:
Abbott Informatics Corporation, Agilent Technologies, Inc., Arxspan, LLC, Autoscribe Informatics, Dassault Systemes SE, GenoLogics (Illumina, Inc.), LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., Novatek International, PerkinElmer, Inc., Promium LLC, RURO, Inc., Sapio Sciences LLC, Thermo Fisher Scientific Inc., and Waters Corporation, among others.
Segments Covered in the Report
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018-2030. For this study, Nova one advisor has segmented North America Laboratory Informatics market based on services and region:
Market by Product:
- Laboratory Information Management System (LIMS)
- Electronic Lab Notebook (ELN)
- Chromatography Data System (CDS)
- Electronic Data Capture (EDC) & Clinical Data Management System (CDMS)
- Laboratory Execution System (LES)
- Enterprise Content Management (ECM)
- Scientific Data Management System (SDMS)
Market by Mode of Delivery:
- On-premise solutions
- Cloud-based solutions
- Web-based solutions
Market by Component:
- Services
- Software
Market by End User:
- Life Sciences industry
- Pharmaceutical and Biotechnology Companies
- Biobanks & Biorepositories
- Academic Research Institutes and Contract Research Organizations (CROs)
- Molecular Diagnostics & Clinical Research Labs
- Chemical Testing Laboratories
- Food & Beverage and Agriculture Industries
- Petrochemical and Oil & Gas Industries
- Others
Market by Geography:
- North America
- U.S.
- Canada
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the North America Laboratory Informatics industry analysis from 2022 to 2030 to identify the prevailing North America Laboratory Informatics industry opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the North America Laboratory Informatics industry segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the U.S. market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as North America Laboratory Informatics industry trends, key players, market segments, application areas, and market growth strategies.
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