An increase in the adoption of laboratory informatics software, the surge in R&D activities, and a rise in awareness regarding laboratory informatics software in developing countries drive the growth of the global laboratory informatics market.
PORTLAND, Ore., Aug. 24, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Laboratory Informatics Market By Type (Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Laboratory Execution Systems (LES), Scientific Data Management Systems (SDMS), Others), By Component (Software, Services), By Delivery Mode (On-Premise, Web-Hosted, and Cloud-Based), By End User (Life Science Industries, Chemical Industries, Food and Beverage and Agriculture Industries, Others): Global Opportunity Analysis And Industry Forecast, 2023-2032" According to the report, the global laboratory informatics industry generated $3.5 billion in 2022 and is anticipated to generate $8.5 billion by 2032, witnessing a CAGR of 9.2% from 2023 to 2032.
Request Sample of the Report on Laboratory Informatics Market Forecast 2032- Allied Market Research- https://www.alliedmarketresearch.com/request-sample/109647
The laboratory informatics market is a rapidly evolving sector within the broader life sciences and healthcare industry. It encompasses various software solutions and technologies designed to streamline and enhance laboratory operations, data management, and analysis. These solutions encompass Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), Scientific Data Management Systems (SDMS), and more. The market allows organizations to improve efficiency, accuracy, and compliance in their research and testing processes. By adopting these advanced technologies, companies can automate workflows, reduce manual errors, facilitate data sharing, and accelerate decision-making. As businesses strive to optimize their laboratory operations, the laboratory informatics market plays a pivotal role in helping them stay competitive and achieve their strategic objectives.
Prime determinants of growth
Rise in the use of laboratory informatics software to comply with stringent government regulations, increase in technological advancement in laboratory informatics software, and surge in the demand for lab automation drive the growth of the global laboratory informatics market. However, the high implementation and service costs of laboratory informatics software are hampering the laboratory informatics market growth. On the contrary, the increase in adoption of key strategies by key players, and the high growth potential in developing countries are expected to offer remunerative opportunities in the industry
Report coverage & details:
Report Coverage | Details |
Forecast Period | 2023–2032 |
Base Year | 2022 |
Market Size in 2022 | $3.5 billion |
Market Size in 2032 | $8.5 billion |
CAGR | 9.2 % |
No. of Pages in Report | 400 |
Segments covered | Type, Component, Delivery Mode, End User, and Region |
Drivers | Growth in the use of laboratory informatics software to comply with stringent government regulations Rise in the demand for lab automation Technological advancement in laboratory informatics software |
Opportunities | Rise in the adoption of key strategies High growth potential in developing countries |
Restraints | High implementation and service costs of laboratory informatics software |
What is the Impact of Recession 2023 on Laboratory Informatics Market?
- Due to the recession in the first quarter of 2023, the laboratory informatics market faced a downturn.
- However, the impact of the recession on the laboratory informatics market was temporary. The high growth potential in developing countries and growing demand for laboratory informatics software in R&D laboratories are creating significant opportunities in the industry.
Want to Explore More, Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/109647
The laboratory information management system (LIMS) segment to maintain its leadership status throughout the forecast period
Based on type, the laboratory information management system (LIMS) segment held the highest market share in 2022, accounting for more than two-fifths of the global laboratory informatics market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to high adoption of laboratory information management system (LIMS), and its wider availability. The same segment is also projected to manifest the highest CAGR of 10.1% from 2023 to 2032. This is due to the increase in technological advancement and the rise in the demand for LIMS.
The services segment to maintain its leadership status throughout the forecast period
By component, the services segment held the highest market share in 2022, accounting for around two-thirds of the global laboratory informatics market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to a high number of people using various types of services provided in laboratory informatics such as consultant service, and implementation services. The software segment, on the other hand, is projected to manifest the highest CAGR of 10.0% from 2023 to 2032. This is attributed to the rise in demand for software and an increase in awareness regarding the use of laboratory informatics software in developing countries.
The web-hosted & cloud-based segment to maintain its leadership status throughout the forecast period
Depending on delivery mode, the web-hosted & cloud-based segment held the highest market share in 2022, accounting for nearly three-fifths of the global laboratory informatics market revenue, and is estimated to maintain its leadership status throughout the forecast period. This is owing to the rise in use & high availability of cloud-based software and benefits of web-hosted & cloud-based software such as offering more flexibility. The same segment is also projected to manifest the highest CAGR of 9.8% from 2023 to 2032. Reduction in costs (requires a monthly cost to access the software, eliminates upfront costs for hardware & infrastructure) in comparison to on-premises (requires large upfront costs to buy software, hardware, and on-site servers) drives the segment growth.
For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/109647
The life science industries segment to maintain its leadership status throughout the forecast period
Based on end users, the life science industries segment held the highest market share in terms of revenue in 2022, accounting for nearly three-fifths of the global laboratory informatics market revenue, owing to the high use of laboratory informatics software in research regarding diseases such as cancer and its high adoption by pharmaceutical & biotechnology companies. The same segment is also expected to witness the fastest CAGR of 10.1% from 2023 to 2032 and is likely to dominate the market during the forecast period. This is owing to the rise in demand for lab automation in life science industries and increase in the number of biobank & biorepositories and molecular diagnostics & clinical research laboratories.
North America to maintain its dominance by 2032
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global laboratory informatics market revenue, owing to robust healthcare infrastructure, presence of key players, and rise in healthcare expenditure. However, the Asia-Pacific region is expected to witness the fastest CAGR of 10.3% from 2023 to 2032 and is likely to dominate the market during the forecast period, due to a rise in R&D laboratories, and a surge in the demand for lab automation.
Leading Market Players: -
- Agilent Technologies Inc.
- CrelioHealth Inc.
- Illumina Inc.
- LabLynx, Inc
- LabWare, Inc
- McKesson Corporation
- PerkinElmer, Inc.
- STARLIMS Corporation
- Thermo Fisher Scientific Inc.
- Waters Corporation
The report provides a detailed analysis of these key players in the global laboratory informatics market. These players have adopted different strategies such as acquisition, collaboration, expansion, partnership, and product launch to increase their market share and maintain dominant shares in different regions.
Trending Reports in Healthcare Industry-
Pharmaceutical Suppositories Market - Global Opportunity Analysis and Industry Forecast, 2022-2032
Orthopedic Implants Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
3D Printed Drugs Market- Global Opportunity Analysis and Industry Forecast, 2022–2032
Wearable Injectors Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
Computed Tomography (CT) Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
Empty Capsules Market - Global Opportunity Analysis and Industry Forecast, 2022–2032
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) Offered by Allied Market Research:
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
'We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 over this market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.'
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter
Logo: https://mma.prnewswire.com/media/636519/3950895/Allied_Market_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/laboratory-informatics-market-to-reach-8-5-billion-globally-by-2032-at-9-2-cagr-allied-market-research-301909256.html
Voltar noticias em Inglês