Laboratory Informatics Market To Grow At CAGR Of 6.4% For The Forecast Period From 2019 To 2026 : Grand View Research Inc.
San Francisco, 5 September 2019: The Report Laboratory Informatics Market Size, Share & Trends Analysis Report By Product (LIMS, ELN, SDMS, LES, EDS & CDMS, CDS, ECM), By Delivery Mode, By Component, By End Use, And Segment Forecasts, 2019 – 2026
The global laboratory informatics market size is expected to reach a value of USD 4.41 billion by 2026, according to a new study by Grand View Research, Inc. It is projected to expand at a CAGR of 6.4% during the forecast period. Increasing requirement for life science companies to comply with regulatory demands has promoted the incorporation of Laboratory Information Management Systems (LIMS) as it helps professionals understand and fulfill the complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to drive the growth.
Rising adoption of LIMS solutions by biobanks coupled with the increasing demand for integrated healthcare solutions is the key contributing factor for the growth of the laboratory informatics market. In addition, growing awareness among the end use segments and technological evolution of LIMS solutions are anticipated to fuel the growth in the forthcoming years. Demand for fully integrated LIMS platforms is growing in accordance with the requirements of life sciences and research industries to reduce the incidence of errors in data management and qualitative analysis of research information.
Rising demand for upgraded laboratory informatics technologies such as electronic lab notebook and Enterprise Content Management (ECM) solutions by research professionals and industry players, respectively, is expected to fuel the market. Benefits associated with ECM, such as database management of large unstructured or structured medical information and supportive government initiatives, are expected to contribute to its lucrative growth over the forecast period.
The introduction of technologically advanced software solutions and their widespread adoption by the healthcare IT providers are expected to impede the growth of the on-premise segment over the forecast period. Furthermore, advantages associated with its usage, including remote access to information, reduced operational cost, and real-time data tracking, are contributing to the rising demand.
Asia Pacific laboratory informatics market is likely to exhibit profitable growth over the forecast period, due to increasing R&D expenditure by the public and private sectors coupled with increasing awareness pertaining to LIMS.
Access Research Report of Laboratory Informatics Market @ www.grandviewresearch.com/industry-analysis/laboratory-informatics-market
Further key findings from the study suggest:
Grand View Research has segmented the laboratory informatics market by product, delivery mode, component, end-use and region:
Laboratory Informatics Product Outlook (Revenue, USD Million, 2014 - 2026)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
The global laboratory informatics market size is expected to reach a value of USD 4.41 billion by 2026, according to a new study by Grand View Research, Inc. It is projected to expand at a CAGR of 6.4% during the forecast period. Increasing requirement for life science companies to comply with regulatory demands has promoted the incorporation of Laboratory Information Management Systems (LIMS) as it helps professionals understand and fulfill the complex regulatory obligations. Furthermore, demand for cost-efficient workflow management systems is anticipated to drive the growth.
Rising adoption of LIMS solutions by biobanks coupled with the increasing demand for integrated healthcare solutions is the key contributing factor for the growth of the laboratory informatics market. In addition, growing awareness among the end use segments and technological evolution of LIMS solutions are anticipated to fuel the growth in the forthcoming years. Demand for fully integrated LIMS platforms is growing in accordance with the requirements of life sciences and research industries to reduce the incidence of errors in data management and qualitative analysis of research information.
Rising demand for upgraded laboratory informatics technologies such as electronic lab notebook and Enterprise Content Management (ECM) solutions by research professionals and industry players, respectively, is expected to fuel the market. Benefits associated with ECM, such as database management of large unstructured or structured medical information and supportive government initiatives, are expected to contribute to its lucrative growth over the forecast period.
The introduction of technologically advanced software solutions and their widespread adoption by the healthcare IT providers are expected to impede the growth of the on-premise segment over the forecast period. Furthermore, advantages associated with its usage, including remote access to information, reduced operational cost, and real-time data tracking, are contributing to the rising demand.
Asia Pacific laboratory informatics market is likely to exhibit profitable growth over the forecast period, due to increasing R&D expenditure by the public and private sectors coupled with increasing awareness pertaining to LIMS.
Access Research Report of Laboratory Informatics Market @ www.grandviewresearch.com/industry-analysis/laboratory-informatics-market
Further key findings from the study suggest:
- LIMS led the overall laboratory informatics market on the basis of technology in 2018 owing to the associated benefits such as data tracking and management with fewer errors
- Cloud-based services is anticipated to showcase lucrative CAGR over the forecast period due to its growing acceptance by industry participants
- North America led the market in 2018, attributable to supportive government initiatives promoting the adoption of LIMS
- Key market players areThermo Fisher Scientific, Inc.; Core Informatics; LabWare; Cerner Corporation; PerkinElmer, Inc.; LabVantage Solutions, Inc.; LabLynx, Inc.; Agilent Technologies; ID Business Solutions Ltd.; McKesson Corporation; Waters Corporation; and Abbott Informatics
Grand View Research has segmented the laboratory informatics market by product, delivery mode, component, end-use and region:
Laboratory Informatics Product Outlook (Revenue, USD Million, 2014 - 2026)
- 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)
- On-Premise
- Web-hosted
- Cloud-based
- Software
- Services
- Life Sciences
- CROs
- Chemical Industry
- Food and Beverage and Agriculture Industries
- Environmental Testing Laboratories
- Petrochemical Refineries & Oil and Gas Industry
- Other Industries (Forensics and Metal & Mining Laboratories)
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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