Laboratory Informatics Market (By Product: LIMS, ELN, SDMS, LES, EDC & CDMS, CDS, ECM; By Delivery Mode: On-premise, Web-hosted, Cloud-based; By Component: Software, Services; By End Use: Life Sciences Companies, CROs, Chemical Industry, F&B and Agriculture, Environmental Testing Labs, Other Industries) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global laboratory informatics market was estimated at US$ 2.3 billion in 2021 and is expected to reach over US$ 3.43 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

Laboratory Informatics Market Size 2022 to 2030

Growth Factors

Laboratory informatics is determinate as a specialized use of information technology that uses a platform of instruments, data management tools, and software to optimize and extend laboratory operations. This enables scientific data to be gathered, processed, analyzed, and transferred for immediate usage and which can be managed, saved, and shared to assist future research, lab testing efforts, and development, all while improving laboratory efficiency. One of the fastest expanding areas of laboratory technology is informatics. Laboratory informatics focuses on the technologies connected with the information management procedures.

The increased need for laboratory automation, surge in demand in biobanks and academic research institutes, rising rapid technological developments in molecular genomics, and shifting customer tendency towards cancer genomics are all driving the growth of the laboratory informatics market. Furthermore, during the forecast period, the growing popularity of cloud-basedlaboratory informatics, rising usage of laboratory informatics solutions, and developing considerable growth prospects in developing nations would provide lucrative opportunities for the expansion of the global laboratory informatics market.

Scope of the Laboratory Informatics Market

Report Coverage Details
Market Size US$ 3.43 Billion by 2030
Growth Rate CAGR of 4.6% from 2022 to 2030
Largest Market North America
Fastest Growing Market Asia Pacific
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Delivery Mode, Component, End Use, Region
Companies Mentioned Thermo Fisher Scientific Inc., LabVantage Solutions Inc., Core Informatics, ID Business Solutions Ltd., McKesson Corporation, Abbott Informatics, PerkinElmer Inc., Agilent Technologies, Waters Corporation, LabLynx Inc.

 

Patients might spend less time recovering due to medical innovations including more comfortable scanning equipment and better monitoring systems. Automation in surgeries has resulted from the acceptance of technology in medical equipment and telemedicine since, in some situations, clinicians do not even need to be present in the operating room with the patient when the procedure is performed. The constant advancement of technology used in health care has resulted in the adoption of laws and regulations governing its application. As a result, new techniques of providing care can be used.

The growth of the laboratory informatics market could also be fueled by a few factors. An increase in the number of diagnoses and high precision and effectiveness of discoveries are only a few of them. The laboratory informatics solutions are used to handle laboratory information and data and follow progress throughout the laboratory procedure with high precision. As a result, laboratory informatics improves the overall effectiveness of laboratories.

Product Insights

In 2020, the laboratory information management systems (LIMS) segment dominated the laboratory informatics market. In the upcoming years, the demand for completely integrated services in the life sciences and research industries to reduce data management errors and increase qualitative analysis of research data is likely to drive the segment’s growth.

The enterprise content management (ECM) segment, on the other hand, is predicted to develop at the quickest rate in the future years. Enterprise content management is being widely used as it provides integrated and complete solutions to address the healthcare industry’s expanding issues.

Delivery Mode Insights

In 2020, the cloud-based segment dominated the laboratory informatics market. Cloud-based technology allows for the remote storage of massive volumes of data, saving space on devices and facilitating data retrieval according to customer requirements.

The on-premise segment, on the other hand, is predicted to develop at the quickest rate in the future years. The installation of services and solutions on computers within the organization is known as on-premise delivery.

Component Insights

In 2020, the services segment dominated the laboratory informatics market. The expansion of the segment is being added by an increase in the outsourcing of LIMS solutions. Large pharmaceutical research labs outsource these services because they lack the resources and aptitude required for analytics adoption.

The software segment, on the other hand, is predicted to develop at the quickest rate in the future years. This is due to the availability of technologically advanced software such as SaaS, which provides excellent information management solutions for laboratories.  

End Use Insights

In 2020, the life science companies segment dominated the laboratory informatics market. In order to produce innovative products and increase product quality and operational efficiency, the life sciences sector is growing its demand for laboratory informatics.

The CROs segment, on the other hand, is predicted to develop at the quickest rate in the future years. The lucrative expansion of the CROs segment is being aided by increasing usage by outsourcing organizations to reduce healthcare expenses.

Region Insights

North America dominated the laboratory informatics market in 2020. This is attributed to the availability of infrastructure with high digital literacy as well as legislation promoting the adoption of laboratory information systems.

Asia-Pacific, on the other hand, is expected to develop at the fastest rate during the forecast period. This is due to the growing number of CROs offering LIMS solutions in the region. To minimize the cost of LIMS support systems and increase operational efficiency, major players outsource LIMS to enterprises in this region.

Key Developments

  • LabWare released the latest version of their LIMS, LabWare 8, in June 2020. The LabWare 8 solution is the company’s enteerprises laboratory platform that delivers the capabilities of both LIMS and ELN in a single integrated system.
  • LabVantage 8.5, an improved version of the LabVantage platform with a fully integrated SDMS, was released in July 2020.
  • CTI Clinical Trial and Consulting Services and LabWare Inc. announced a collaboration agreement in August 2021 to extend laboratory services to support rare disease and cell and gene therapy research around the globe.
  • Waters and Restek Corporation announced a contract in August 2018. Waters and Restek Corporation agreed to provide food and safety laboratories with training and application assistance for GC-MS methodologies and workflows for pesticide monitoring and screening as part of this agreement.
  • Agilent Technologies purchased Genohm in May 2018. Agilent’s current software portfolio was boosted by this acquisition, which added LIMS and workflow management to the company’s ELN capabilities.

The laboratory informatics market is highly fragmented, with a huge number of small and large businesses competing. As a result, smaller businesses are forced to compete fiercely to maintain their market position. Furthermore, the businesses offer customized LIMS solutions. As a result, industry competition is expected to be fierce during the projection period. In addition, important companies are helping to build the market by forming alliances and launching new products.  

Some of the prominent players in the global laboratory informatics market include:

  • Thermo Fisher Scientific Inc.
  • LabVantage Solutions Inc.
  • Core Informatics
  • ID Business Solutions Ltd.
  • McKesson Corporation
  • Abbott Informatics
  • PerkinElmer Inc.
  • Agilent Technologies
  • Waters Corporation
  • LabLynx Inc.

Segments Covered in the Report

By Product

  • LIMS
  • ELN
  • SDMS
  • LES
  • EDC & CDMS
  • CDS
  • ECM

By Delivery Mode

  • On-premise
  • Web-hosted
  • Cloud-based

By Component

  • Software
  • Services

By End Use

  • Life Sciences Companies
  • CROs
  • Chemical Industry
  • F&B and Agriculture
  • Environmental Testing Labs
  • Petrochemical Refineries & Oil and Gas Industry
  • Other Industries

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of laboratory informatics market?
According to Precedence Research, the global laboratory informatics market size was reached at US$ 2.3 billion in 2021 and is anticipated to surpass over US$ 3.43 billion by 2030.
The global laboratory informatics market is expected to drive growth at a CAGR of 4.6% from 2022 to 2030.
The laboratory informatics market is expected to rise due to reasons such as contract research organizations’ greater use of cloud-based platforms, their demand for personalized medication, more regulatory approvals, new rising markets, and expanded research and development in medicine.
The major players operating in the laboratory informatics market are Thermo Fisher Scientific Inc., LabVantage Solutions Inc., Core Informatics, ID Business Solutions Ltd., McKesson Corporation, Abbott Informatics, PerkinElmer Inc., Agilent Technologies, Waters Corporation, LabLynx Inc..
North America region will lead the global laboratory informatics market during the forecast period 2022 to 2030.

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