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Laboratory Informatics Market- Growth, Future Prospects, & Competitive Analysis, 2018 - 2026

Overview:

Laboratory informatics is accounted as the fastest growing segment in laboratory-related technologies. Paperless practices in laboratory setups are being adopted across the globe to avoid manual errors and maintain complete repository of the clinical data. Continuous development in information technology contributes to the overall growth of laboratory informatics. Laboratory informatics offers solutions to maintain laboratory documents, clinical data repository, stay in compliance with the regulatory demand and manage audit trails. These systems are integrated with laboratory technologies thus easing out data compilation process. With current development in personalized medicines, cellular & gene therapy, researches targeting orphan diseases has led to the rising demand for lab automation systems. Additionally, with rising competition, market entry of innovative market players in pharmaceutical sector has led to the need for expedited drug approval and early market penetration. Laboratory informatics ensures accurate results, makes navigation of data easier and helps compare and analyse study results. Laboratory informatics solutions can be integrated with smart phones and tablets rendering remote monitoring of ongoing studies.

The rising adoption of robotics and process automation has rendered industries to provide reproducible results thus contributing to the rising demand of laboratory informatics. Additionally, enforcement of laboratory informatics by regulatory organizations back the overall market growth. However, major laboratory functions are carried out by scientist and other laboratory professionals, the dearth of informatics knowledge among them could thus have a negative impact on the overall market growth.

North America grabs major market share owing to rising research activities, presence of key market leaders and high disposable income. Asia pacific expected to show steady growth during the forecast period from 2018 to 2026 owing to growing healthcare infrastructure, rising research activities, increased awareness related to available latest technologies and increasing foreign investments by international players in this region.

The Global Laboratory Informatics Market is segmented as follows:

  • By Solution
    • Laboratory Information Management Systems (LIMS)
    • Electronic Lab Notebooks (ELN)
    • Scientific Data Management Systems (SDMS)
    • Laboratory Execution Systems (LES)
    • Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
    • Chromatography Data Systems (CDS)
    • Enterprise Content Management  (ECM)
  • By Industry
    • Pharmaceutical & Biotechnological Companies
    • Bio banks
    • Molecular and clinical diagnostics
    • Research Institutes
    • Chemical Industry
    • Food beverage & agricultural industries
    • Other Industries (environmental testing laboratories, petrochemical refineries etc.)
  • By Geography
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • Rest of Europe
    • Asia Pacific
      • Japan
      • China
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC
      • Rest of Middle East & Africa

Laboratory informatics market provide enormous opportunities for emerging players. With continuous partnerships and acquisitions, this market is projected to exhibit lucrative growth during the forecast period from 2018 to 2026. On 20th July 2017, Accenture, Inc. acquired LabAnswer a laboratory informatics-consulting firm. Accenture would apply its digital technology expertise to revolutionize laboratory processes across vivid industries. Key market players with innovative products enjoying dominancy are Abbott Informatics, Accenture Plc., Agilent Technologies, Inc., Arxspan LLC, Autoscribe Informatics, Inc., Infosys, Ltd., LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., and Waters Corporation.

This report offers:

  • Complete understanding of the global laboratory informatics market
  • Market outlook and extensive analysis for the duration from 2016 to 2026, with an annual growth rate during the forecast period from 2018 to 2026, considering 2017 to be the base year.
  • Market estimations for each segment has been analysed
  • Competitive landscape comparing leading market players in terms of product portfolio and business strength is incorporated
  • Qualitative factors pertaining to market drivers, restraints and opportunities has been included in this study report
  • Market players with extensive market outreach have been profiled with information related to financial analysis, product portfolio and recent developments.
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