According to the most recent report by Emergen Research, the size of the global laboratory informatics market is anticipated to reach USD 4.21 billion in 2028, growing at a consistent revenue CAGR of 6.5%. It is anticipated that factors such as the growing need for more affordable laboratory automation solutions and the increased adoption of laboratory information management systems in biobanks or biorepositories will continue to propel the growth of the laboratory informatics market. Additional significant drivers of revenue growth for the worldwide laboratory informatics market during the forecast period include the increased need to comply with regulatory standards and the continuously evolving technological breakthroughs in software solutions for laboratories.
The Global Laboratory Informatics market drivers and restraints Market report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals.
High-quality data are produced by automation, which also makes for better documentation. The creation of standardised systems with reproducible outcomes is aided by the availability of supervisory standards and strict regulatory requirements for error-free results.
One of the biggest challenges impeding the growth of this market is the high maintenance and service expenses related to laboratory informatics solutions. Industry analysts claim that the maintenance costs associated with IT solutions are more than the actual cost of the product. The cost of service and maintenance, which includes adapting the software to changing user needs, is ongoing and accounts for roughly 20–30% of the overall cost of ownership. Additionally, training and implementation expenses sum up to about 15% of the final cost. These factors make it challenging for many small and medium-sized laboratories to invest in these systems, which restricts their adoption.
To gain useful market insights, grab a sample copy of this report :
https://www.emergenresearch.com/request-sample/435
Possibility of substantial growth in emerging nations
Major emerging markets for LIMS include Brazil, China, Japan, India, Singapore, and the Middle East. The great potential for suppliers unable to fulfil the standards imposed in developed markets like the US exists in these countries because they lack appropriate standards and governmental controls. For low-cost production, several biopharma players are also moving their manufacturing facilities to Asia.
Several Important Report Highlights
In January 2020, Waters Corporation purchased Andrew Alliance SA, expanding its technology portfolio to include cutting-edge robots and apps that would improve customer workflow in the healthcare, biotechnology, and molecular biology sectors.
Due to the growing demand for affordable, secure, and dependable implementations, the services category accounted for a notably high revenue share among the component divisions in 2020. Additionally, the growing trend of outsourcing laboratory information management systems is anticipated to assist the segment's revenue growth. The need for outsourcing services by large pharmaceutical companies is anticipated to rise as contract research organisations (CRO) with cutting-edge resources and qualified personnel carry out services.
The cloud-based deployment segment is anticipated to experience the highest revenue growth rate among the deployment segments over the projected period. The advent of cloud-based technology in the healthcare industry enables businesses to respond more quickly to customer needs, which is anticipated to accelerate the segment's revenue growth in the years to come. To free up space on devices and make data recovery easier based on client demands, cloud technology helps store big volumes of data offsite.
Due to growing awareness of the many benefits connected with using laboratory informatics management systems, the Laboratory Information Management Systems (LIMS) segment is predicted to experience the fastest revenue growth rate among the solution categories throughout the projection period.
Companies profiled in the global market report include Agilent Technologies, Inc., Dassault Systèmes SE, LabLynx, Inc., Thermo Fisher Scientific, Inc., LabVantage Solutions, Inc., Cerner Corporation, McKesson Corporation, PerkinElmer, Inc., Accelerated Technology Laboratories Inc., and Waters Corporation.
Browse Full Report Description + Research Methodology + Table of Content + Infographics@
https://www.emergenresearch.com/industry-report/laboratory-informatics-market
Emergen Research has segmented the global laboratory informatics market on the basis of component, deployment, solution, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018-2028)
- Software
- Services
Deployment Outlook (Revenue, USD Billion; 2018-2028)
- Cloud-based
- On-premises
- Web-hosted
Solution Outlook (Revenue, USD Billion; 2018-2028)
- Electronic Lab Notebooks
- Laboratory Information Management Systems
- Scientific Data Management Systems
- Electronic Data Capture
- Laboratory Execution Systems
- Clinical Data Management Systems
- Enterprise Content Management
- Chromatography Data Systems
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Contract Research Organizations
- Environmental Testing Laboratories
- Food Beverage
- Oil Gas
- Pharmaceutical Biotechnology
- Petrochemical Refineries
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- Rest Of MEA
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Emergen Research Media Citations: https://www.emergenresearch.com/media-citations
Visit for More Insights: https://www.emergenresearch.com/insights
Explore Our Custom Intelligence services | Growth Consulting Services
Read our Press Release @ https://www.emergenresearch.com/press-releases
Latest reports| Water Treatment Chemicals Market | Neuromorphic Processing Market
Trending Titles| Voice Biometrics Market| Alopecia Market
