Laboratory Informatics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2022 - 2030
The Global Laboratory Informatics Market Size accounted for USD 3,248 Million in 2021 and is estimated to achieve a market size of USD 4,646 Million by 2030 growing at a CAGR of 4.2% from 2022 to 2030. The growing need for laboratory digitization, the expanding demand for biobanks/biorepositories, and rising R&D investment in the biotechnology and pharmaceutical industries are driving the laboratory informatics market growth. Furthermore, the growing usage of cloud-based informatics technologies opens up enormous potential opportunities for participants in the laboratory informatics market trend.
Laboratory Informatics Market Report Key Highlights
- Global laboratory informatics market revenue intended to gain USD 4,646 million by 2030 with a CAGR of 4.2% from 2022 to 2030
- North America region has made up 40% of total market share in 2021
- By deployment, the cloud-based segment has hit 40% market share in 2021
- Among end-use industry, the life science companies segment has contributed over 25% market share in 2021
- According to research, using a LIMS solution increases productivity by 30% and has been embraced by over 6,000 scientists
- Increasing R&D spending in the biotechnology and pharmaceutical industries, fuels the laboratory informatics market value
Laboratory informatics is defined as the specialized application of information technology to optimize and extend laboratory operations. These are basically the set of instruments, software, data management tools, and associated Product that allow scientific data to be captured, migrated, processed, and interpreted for immediate use, as well as stored, managed, and shared to support future research, development, and lab testing efforts while maximizing the efficiency of laboratory operations.
Global Laboratory Informatics Market Dynamics
Market Drivers
- Increasing demand for laboratory digitalization
- Development of integrated lab informatics systems
- Rising demand for lab informatics in academic research institutes, biobanks/biorepositories, and CROs
- Increasing R&D spending in the biotechnology and pharmaceutical industries
Market Restraints
- High servicing and maintenance costs
- Lack of LIMS integration standards
Market Opportunities
- The rising popularity of cloud-based laboratory informatics
- Significant growth opportunities in emerging countries
Laboratory Informatics Market Report Coverage
| Market | Laboratory Informatics Market |
| Laboratory Informatics Market Size 2021 | USD 3,248 Million |
| Laboratory Informatics Market Forecast 2030 | USD 4,646 Million |
| Laboratory Informatics Market CAGR During 2022 - 2030 | 4.2% |
| Laboratory Informatics Market Analysis Period | 2018 - 2030 |
| Laboratory Informatics Market Base Year | 2021 |
| Laboratory Informatics Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Product, By Deployment, By Component, By End-Use, And By Geography |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | Abbott Laboratories, Core Informatics, Agilent Technologies, Cerner Corporation, LabVantage Component, Inc., IDBS, LabLynx, Inc., McKesson Corporation, LabWare, Thermo Fisher Scientific, Inc., PerkinElmer Inc., and Waters Corporation. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
The increasing demand for laboratory automation due to the increasing amount of data generated by laboratories is driving the laboratory informatics market growth. The rising technological advancements in molecular genomics and genetic testing practices are additionally bolstering the laboratory informatics market shares. The shifting preference toward personalized medicine, cancer genomics studies, and increasing patient engagement requirements is further bolstering the market value. The critical operations of laboratories of both manufacturing and research organizations across the life sciences and medical research industries are additionally propelling the market value. The primary objective of a laboratory is to ensure the generation of high-quality and reliable experiment data that conforms to the regulatory guidelines of the industry is another factor increasing demand for laboratory informatics across the globe.
On the other hand, the high cost associated with the procurement of advanced laboratory informatics is likely to hinder growth over the forecast period.
Laboratory Informatics Market Segmentation
The worldwide laboratory informatics market is split based on product, deployment, component, end-use, and geography.
Laboratory Informatics Market By Product
- Laboratory Information Management Systems (LIMS)
- Scientific Data Management Systems (SDMS)
- Electronic Lab Notebooks (ELN)
- Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
- Laboratory Execution Systems (LES)
- Enterprise Content Management (ECM)
- Chromatography Data Systems (CDS)
Based on the product, the laboratory information management systems (LIMS) segment is having a potential share in the global laboratory informatics market and the segment is also projected to maintain its dominance throughout the forecast period from 2022 to 2030. The Laboratory Information Management System or LIMS is software that allows the management of samples, test results, and associated data to improve lab productivity.
Laboratory Informatics Market By Deployment
- On-premise
- Cloud-based
- Web-hosted
According to laboratory informatics industry analysis, the cloud-based segment will lead the market in 2021. Cloud-based technology allows for the offsite backup of vast volumes of data, thereby freeing up space on equipment and facilitating data retrieval based on client requirements. Infrastructure as a Service (IaaS), Platform as a Service (PaaS), as well as Software as a Service (SaaS) is the three services provided by the technology.
Laboratory Informatics Market By Component
- Software
- Service
In terms of components, the service segment held the largest market share in 2021. The outsourcing of LIMS services is increasing, which is helping to segment growth. Large biopharmaceutical research facilities subcontract these services because they lack the resources and expertise set required for analytics adoption.
Laboratory Informatics Market By End-Use
- Life Science Companies
- CROs
- Food & Beverage and Agriculture Industries
- Chemical Industry
- Petrochemical Refineries and Oil & Gas Industry
- Environmental Testing Laboratories
- Other Industries (Forensics and Metal & Mining Laboratories)
According to the laboratory informatics market forecast, the CROs segment is predicted to grow profitably during the projected timeframe. The expanding trend of outsourcing laboratory research and development in drug discovery is responsible for this increase. The growing adoption of CROs by outsourcing firms to reduce healthcare expenses is leading to the lucrative expansion of the CROs industry.
Laboratory Informatics Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
North America Accounted For The Maximum Revenue Share In 2021
In 2021, North America led the global laboratory informatics market and the region is also projected to maintain its dominance throughout the forecast period from 2022 to 2030. The presence of major players in the region along with their advanced laboratory infrastructures is supporting the regional market value. The well-established healthcare infrastructure along with the strong footprint of medical tourism in the US is additionally boosting the regional market value.
The Asia-Pacific Is Leading The Market With Maximum Revenue Share
The continuously developing healthcare infrastructure of the region especially across the developing economies is boosting the regional market value. The increasing investments in the research and development activities in terms of both in-house and outsourcing for the new findings as well as for digging out the Component of the existing limitation of certain treatments and procedures are the factors driving the market growth.
Laboratory Informatics Market Players
Some of the top Laboratory Informatics companies offered in the professional report include Abbott Laboratories, Core Informatics, Agilent Technologies, Cerner Corporation, LabVantage Component, Inc., IDBS, LabLynx, Inc., McKesson Corporation, LabWare, Thermo Fisher Scientific, Inc., PerkinElmer Inc., and Waters Corporation.
Frequently Asked Questions
What is the size of global laboratory informatics market in 2021?
The estimated value of global laboratory informatics market in 2021 was accounted to be USD 3,248 Million.
What is the CAGR of global laboratory informatics market during forecast period of 2022 to 2030?
The projected CAGR laboratory informatics market during the analysis period of 2022 to 2030 is 4.2%.
Which are the key players operating in the market?
The prominent players of the global laboratory informatics market are Abbott Laboratories, Core Informatics, Agilent Technologies, Cerner Corporation, LabVantage Component, Inc., IDBS, LabLynx, Inc., McKesson Corporation, LabWare, Thermo Fisher Scientific, Inc., PerkinElmer Inc., and Waters Corporation.
Which region held the dominating position in the global laboratory informatics market?
North America held the dominating laboratory Informatics during the analysis period of 2022 to 2030.
Which region registered the fastest growing CAGR for the forecast period of 2022 to 2030?
Asia-Pacific region exhibited fastest growing CAGR for laboratory informatics during the analysis period of 2022 to 2030.
What are the current trends and dynamics in the global laboratory informatics market?
Increasing demand for laboratory digitalization, and development of integrated lab informatics systems, drives the growth of global laboratory informatics market.
By deployment segment, which sub-segment held the maximum share?
Based on deployment, cloud-based segment is expected to hold the maximum share of the laboratory informatics market.
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