Global Laboratory Informatics Market By Component (Software and Services) By End Use (Life Sciences, CROs, Chemical Sector, Food & Beverage and Agriculture Sector, Environmental Testing Laboratories, Petrochemical Sector and Other Sectors) By Product (LIMS, ELN, ECM, CDS, SDMS, LES and EDC & CDMS) By Delivery Mode (Cloud-based, Web-hosted and On-Premise) By Region, Industry Analysis and Forecast, 2019 - 2025
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The Global Laboratory Informatics Market size is expected to reach $4.1 billion by 2025, rising at a market growth of 6.4% CAGR during the forecast period. Laboratory computing and informatics are used progressively in various healthcare applications. Several changes have been made to enhance the sophistication of healthcare systems. The demand for healthcare laboratory informatics is undergoing significant changes and development to manage huge amounts of patient data and improve health outcomes. Due to increased spending on healthcare services, the healthcare laboratory informatics market is projected to exhibit rapid growth in developing countries.
Global Laboratory Informatics Market Size
The increased burden of chronic conditions along with increasing healthcare infrastructure around the globe would lead to higher acceptance of the laboratory informatics solution in the healthcare industry. The market is dominated by a few of the larger companies involved in developing advanced healthcare laboratory information technology to generate higher revenues. The healthcare laboratory informatics industry is expected to offer high growth opportunities in the near future, with advances in existing technologies.
Laboratory Informatics Market Share
Due to the increased workload, cost constraints and technological advances, the nature of the pathology is rapidly shifting, depending on market needs. New laboratory systems are produced using the best technologies to mitigate the current global demand. New approaches to handling laboratory knowledge are required now to meet the evolving healthcare system requirements.
Based on Component, the market is segmented into Software and Services. Based on End Use, the market is segmented into Life Sciences, CROs, Chemical Sector, Food & Beverage and Agriculture Sector, Environmental Testing Laboratories, Petrochemical Sector and Other Sectors. Based on Product, the market is segmented into LIMS, ELN, ECM, CDS, SDMS, LES and EDC & CDMS. Based on Delivery Mode, the market is segmented into Cloud-based, Web-hosted and On-Premise. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Laboratory Informatics Market to reach a market size of $4.1 billion by 2025
Laboratory Informatics Market Cardinal Matrix
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix, IBM Corporation and UnitedHealth Group, Inc. (Optum, Inc.) are some of the forerunners in the Laboratory Informatics Market. Companies such as McKesson Corporation, Tenet Healthcare Corporation (Conifer Health Solutions, LLC), Epic Systems Corporation, eClinicalWorks LLC, Athenahealth, Inc. (Veritas Capital), Koninklijke Philips N.V., Cerner Corporation, and AllScripts Healthcare Solutions, Inc. are some of the key innovators in Laboratory Informatics Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., LabVantage Solutions, Inc. (TCG Lifesciences), LabWare, Inc., Abbott Laboratories (Abbott Informatics Corporation), LabLynx, Inc., Agilent Technologies, Inc., Waters Corporation, PerkinElmer, Inc., Autoscribe Informatics, Inc., and McKesson Corporation.
Recent Strategies Deployed in Laboratory Informatics Market
» Partnerships, Collaborations, and Agreements:
- Dec-2019: Agilent Technologies teamed up with MGI Tech. The collaboration was aimed at establishing cooperation in high throughput sequencing for providing a more efficient and reliable high throughput sequencing solution.
- Apr-2019: Thermo Fisher collaborated with Genovis, a provider of enzymes & technologies for analysis & conjugation of biopharmaceuticals. Under this collaboration, the companies jointly develop advanced end-to-end workflows for the preparation, characterization, and monitoring of novel and complex biotherapeutics through using liquid chromatography-mass spectrometry (LC-MS).
- Apr-2019: PerkinElmer announced that it has joined Accenture’s open partner ecosystem. This ecosystem was designed for helping the solution providers, life science companies, and software vendors in accelerating the drug discovery effectively and improving patient outcomes.
- Jan-2019: Autoscribe Informatics signed a distribution agreement with Labcom Technology in Bangladesh. Under this agreement, the latter company distributed the Matrix family of Laboratory Information Management System (LIMS) products of Autoscribe.
» Acquisition and Mergers:
- Jan-2020: Waters Corporation signed an agreement to acquire Andrew Alliance, an innovator in specialty laboratory automation technology. The acquisition would broaden the technology portfolio of the company.
- May-2019: Thermo Fisher acquired Brammer Bio, a leader in viral vector manufacturing for cell and gene therapies. After the acquisition, the latter company became a part of Thermo Fisher's Pharma Services business within its Laboratory Products and Services Segment. The acquisition expanded the company's business.
- May-2019: Agilent Technologies acquired Genohm, a developer of highly differentiated, on-premise and cloud-based software solutions for laboratory management. The acquisition accelerated Agilent’s software portfolio by adding LIMS and workflow management solutions and expanded the company’s ELN capabilities.
- Dec-2017: PerkinElmer completed the acquisition of EUROIMMUN Medical Laboratory Diagnostics AG. The acquisition expanded the company's capabilities in diagnostic laboratory business.
- Aug-2017: Thermo Fisher completed the acquisition of Patheon, a leading contract development and manufacturing organization. Patheon operates as a division of Thermo Fisher's Laboratory Products and Services Segment. The acquisition expanded the capabilities of the company.
- Mar-2017: Thermo Fisher took over Core Informatics, a leading cloud-based platform supporting scientific data management. The acquisition accelerated the former company's informatics solutions and cloud platform including electronic laboratory notebook (ELN) technologies, laboratory information management systems (LIMS), and scientific data management solutions (SDMS).
» Geographical Expansions:
- Jan-2019: Agilent Technologies opened a new state-of-the-art laboratory in Mumbai. This facility marked the expansion of the company in India and was established for fulfilling the increasing demand for next-generation lean laboratories.
- Feb-2018: Autoscribe Informatics opened a new facility in Australia. The new facility was aimed at expanding its LIMS customer base in New Zealand and Australia.
» Product Launches and Product Expansions:
- Jul-2019: Abbott Informatics launched STARLIMS Quality Manufacturing Solution QM 12.0, a laboratory information management system. This solution supports the integration with different types of platforms and manages data from product concept to consumer.
- Mar-2019: Thermo Fisher launched TriPlus 500 Gas Chromatography Headspace Autosampler. This solution provides low cost-per-sample and high sample throughput for routine Volatile Organic Compounds (VOCs) analysis. This solution acts as a reliable and flexible workflow solution for routine laboratories.
- Feb-2019: LabVantage Solutions introduced LabVantage 8.4, the latest version of its laboratory information management solution. This version has new and updated features that accelerate lab effectiveness and efficiency along with making the work of staff and managers easy.
- Feb-2019: Waters Corporation launched BioAccord System, a purposefully designed liquid chromatography-mass spectrometry (LC-MS) solution. This solution extended the access to high-resolution time-of-flight mass spectrometry capabilities to more scientists.
- Nov-2018: Autoscribe Informatics released v5.4.6 of Matrix Gemini LIMS. The new version included the features of improved visualization of information and data.
- Oct-2018: Abbott Informatics launched version 11.6 of the world-class STARLIMS Laboratory Information Management System (LIMS). This version helps in gaining maximum insights from all the laboratory data and fuels the growth of organizations.
- Oct-2018: Abbott Informatics introduced STARLIMS Life Sciences Solution CL 11.0 and STARLIMS Quality Manufacturing Solution QM 11.1, two new web-based laboratory information management systems. These systems enable the laboratories in making data management better integrated, simpler, and more user-friendly.
- Aug-2018: Agilent Technologies unveiled The Agilent data system, a new version of its chromatography data system (CDS). This enabled the laboratories to export the data files in Allotrope Data Format (ADF), an emerging standard developed by a consortium of pharmaceutical companies.
Scope of the Laboratory Informatics Market Analysis
- Software and
By End Use
- Life Sciences
- Chemical Sector
- Food & Beverage and Agriculture Sector
- Environmental Testing Laboratories
- Petrochemical Sector and
- Other Sectors
- LIMS (Laboratory Information Management Systems)
- ELN (Electronic Lab Notebooks)
- ECM (Enterprise Content Management)
- CDS (Chromatography Data Systems)
- SDMS (Scientific Data Management Systems)
- LES and (Laboratory Execution Systems)
- EDC (Electronic Data Capture) & CDMS (Clinical Data Management Systems)
By Delivery Mode
- Web-hosted and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Thermo Fisher Scientific, Inc.
- LabVantage Solutions, Inc. (TCG Lifesciences)
- LabWare, Inc.
- Abbott Laboratories (Abbott Informatics Corporation)
- LabLynx, Inc.
- Agilent Technologies, Inc.
- Waters Corporation
- PerkinElmer, Inc.
- Autoscribe Informatics, Inc.
- McKesson Corporation
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Laboratory Informatics Market Related Reports:
What would be the size of Laboratory Informatics market in 2025?
According to a new report published by KBV Research, The global Laboratory Informatics market size is expected to reach $4.1 billion by 2025.
What is the key factor driving the Laboratory Informatics market?
The major factors that are anticipated to drive the Laboratory Informatics industry include growing demand in biobanks/biorepositories, growing popularity of cloud-based laboratory informatics, and Increasing need for lab automation.
What are the segmentations available in Laboratory Informatics market?
Based on Component, Based on End Use, Based on Product, Based on Delivery Mode, Based on Regions
Who are the leading players in Laboratory Informatics market?
The leading player in Laboratory Informatics market includes Thermo Fisher Scientific, Inc., LabVantage Solutions, Inc. (TCG Lifesciences), LabWare, Inc., Abbott Laboratories (Abbott Informatics Corporation), LabLynx, Inc., Agilent Technologies, Inc., Waters Corporation, PerkinElmer, Inc., Autoscribe Informatics, Inc., and McKesson Corporation.