Fact.MR – A Market Research and Competitive Intelligence Provider: During the forecast period of 2021-2031, the global laboratory informatics market is expected to develop at a healthy rate, according to Fact.MR.
LIMS Segment to Gain Significant Traction in the Laboratory Informatics Market
A Fact.MR study on laboratory informatics market offers detailed analysis on growth drivers and trends affecting demand in terms of product, end-user and region. It also highlights various strategies adopted by key market players to gain a competitive edge in the laboratory informatics market.
Fact.MR – A Market Research and Competitive Intelligence Provider: During the forecast period of 2021-2031, the global laboratory informatics market is expected to develop at a healthy rate, according to Fact.MR. Regulatory authorities’ increasing burden on lab automation will generate profitable growth prospects for the market.
Laboratorians and pathologists must be able to manage their knowledge well in order to be successful. As a result, there will be a greater demand for innovative and effective laboratory informatics systems all across the world.
Academic research institutes, biobanks, pharmaceutical, and biotechnology corporations are rapidly adopting laboratory informatics systems. This is due to the advantages that these systems provide, such as process optimization, increased regulatory compliance, and lower labor expenses.
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The COVID-19 pandemic has led in a global shortage of essential medical supplies, which has impacted the laboratory business. Clinical labs, on the other hand, have expanded their operations in response to the unprecedented pandemic’s obstacles, including as the massive volume of patient data created daily and the necessity for timely reporting of test findings. According to Fact.MR in this report, this will continue to fuel the demand for laboratory informatics.
As United States is one of the world’s largest markets for laboratory informatics, North America is expected to dominate the market. As end-use industries gain traction, demand is projected to rise in the coming years.
“Increasing adoption of digital laboratory solutions, with key focus on obtaining relevant data will create opportunities for growth in the market,” says the Fact.MR analyst.
Key Takeaways:
- LIMS (Laboratory Information Management Systems) is becoming a significant market category.
- The introduction of low-cost cloud-based systems is propelling the laboratory informatics market forward.
- Due to the increased adoption of laboratory informatics systems in the United States, North America will continue to dominate the market.
- Increasing government investments in data infrastructure expansion will open up attractive prospects in Europe.
Key Drivers:
- The market is growing due to the increasing demand for virtual and electronic laboratory systems to acquire rapid and appropriate results.
- Government laws governing the automation of laboratory management systems in various locations will provide attractive prospects for industry participants.
- The growing desire to cut operating costs and human labor will increase market demand and sales.
Key Restraints:
- Scarcity of skilled professionals needed for operating laboratory informatics systems will affect sales badly.
- Expensive cost for installation and implementation and maintenance of laboratory informatics systems will hamper the market growth.
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Competitive Landscape
According to the study by Fact.MR, the laboratory informatics market is highly fragmented, with high competition between prominent players and new entrants. Players are rapidly adopting inorganic strategies to enhance their offerings and gain a competitive edge in the market. For instance:
- In May 2021, Thermo Fisher Scientific launched the Thermo Scientific Nexsa G2 surface analysis system, specially designed to enhance efficacy and creativity in laboratories. The new model allows researchers to gain deeper insights into surface chemistry, providing for product advances and increased sample throughput.
Some of the leading manufacturers and suppliers of laboratory informatics include
- Thermo Fisher Scientific Inc.
- LabVantage Solutions Inc.
- LabWare
- Abbott Informatics
- LabLynx Inc.
- Waters
- Agilent Technologies Inc.
- Autoscribe Informatics
- Dassault Systèmes
- LABWORKS LLC
- KineMatik
- Accelerated Technology Laboratories
- PerkinElmer Inc.
More Valuable Insights into the Laboratory Informatics Market
Fact.MR offers unbiased analysis of the laboratory informatics market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of:
By Type of Solution
- 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)
By Component
- Services
- Software
By Deployment Model
- On-premise
- Cloud-based
- Remotely Hosted
By Industry
- Life Sciences Industry
- Pharmaceutical & Biotechnology Companies
- Biobanks & Biorepositories
- Molecular Diagnostics & Clinical Research Laboratories
- Contract Service Organizations
- Academic Research Institutes
- Chemicals Industry
- Food & Beverage and Agriculture Industry
- Petrochemical Refineries and Oil & Gas Industry
- Environmental Testing Laboratories
- Other Industries
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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