Laboratory informatics is the specialized application of information technology to enable and enhance scientific processes and the delivery of laboratory information. It is a critical part of the laboratory, help ensure high quality and reliable data and results. Laboratory informatics is the specialized application of information through a platform of software, instruments, and data management tools that allow scientific data to be captured, processed, migrated, & interpreted, as well as shared, managed, and stored to support future research, development, and lab testing efforts while maximizing the efficiency of laboratory operations. It is a term that covers the use of a variety of technology tools for data collection and analysis in a laboratory setting.
The global laboratory informatics market was valued at US$ 3,031.4 Mn in 2021 and is forecast to reach a value of US$ 5,268.7 Mn by 2028 at a CAGR of 8.2% between 2022 and 2028.
North America held dominant position in the global laboratory informatics market in 2020, accounting for 48.0% share in terms of volume, followed by Europe and Asia Pacific, respectively.
Figure 1. Global Laboratory Informatics Market Share (%), by Region, 2021
In June 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.
In March 2019, Thermo Fisher acquired Brammer Bio, a marketer 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.
In October 2018, Abbott Informatics announced the launch of version 11.6 of the world-class STARLIMS Laboratory Information Management System (LIMS), helps in gaining maximum insights from all the laboratory data and fuels the growth of organizations.
Laboratory Informatics Market Report Coverage
||Market Size in 2021:
||US$ 3,031.4 Mn
|Historical Data for:
||2017 to 2020
||2022 to 2028
|Forecast Period 2022 to 2028 CAGR:
||2028 Value Projection:
||US$ 5,268.7 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC Countries, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Product: Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Enterprise Content Management (ECM), Laboratory Execution System (LES), Chromatography Data System (CDS), Scientific Data Management System (SDMS), and Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
- By Component: Services and Software
- By Delivery Mode: On-premise, Web-hosted, and Cloud-based
- By Geography: North America, Europe, Asia-Pacific, South America, and Middle East and Africa
Waters Corporation, PerkinElmer Inc., LabWare Inc., LabVantage Solutions Inc., LabLynx Inc., Thermo Fisher Scientific Inc., Mckesson Corporation, Cerner Corporation, Agilent Technologies, and Abbott Laboratories (Abbott Informatics Corporation), among others
- Increasing demand for lab informatics solutions
- Development of lab informatics solutions
|Restraints & Challenges:
- High maintenance and service cost
- Lack of integration standards for lab informatics
- Increasing demand for lab informatics solutions worldwide is expected to augment growth of the global laboratory informatics market during the forecast period. For instance, in March 2021, LabVantage Solutions, Inc. announced the launch of LabVantage Analytics, an advanced analytics solution that lets users easily explore, analyse, and visualize LIMS, enterprise, and external data to gain business insights. Designed by analytics industry experts, LabVantage Analytics seamlessly integrates with all elements of the LabVantage LIMS platform, providing a single user interface and workflow.
- Increasing focus on the development of laboratory informatics solutions is expected to boost the growth of the laboratory informatics market over the forecast period. For instance, in April 2019, Thermo Fisher and Genovis teamed up to 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).
Figure 2. Global Laboratory Informatics Market Share (%), by Delivery Mode, 2021
- High cost associated with the maintenance and service is expected to hinder growth of the laboratory informatics market. For instance, the cost of a laboratory information system ranges from US$ 4,000 and US$ 100,000 and also an additional annual operating cost of US$ 1000 to US$ 5000. The operating costs comprise cost related to software license, training the healthcare personal, maintenance, and service cost. Therefore, laboratories opt for the lower-cost version of the laboratory information system.
- Lack of integration standards for laboratory informatics is expected to hamper the growth of the laboratory informatics market. For instance, one of the most common reasons for deploying lab informatics is its ability to integrate with laboratory equipment and enterprise systems for better data management and efficiency. Although laboratories may feel that this integration is a necessity, it is not always fulfilled in reality, which affects lab operations and also discourages potential buyers from purchasing these solutions.
- Growing popularity of cloud-based lab informatics is expected to provide significant growth opportunities for players in the global laboratory informatics market. Cloud-based technology helps store large amounts of data remotely to allow free space on devices and facilitate data retrieval according to client needs. In October 2021, PerkinElmer launched its Signals Research Suite, a cloud-based solution, deployed on Amazon Web Services. It is a secure, informatics platform that provides integrated, end-to-end scientific data and the workflow management for pharmaceutical and industrial customers.
- Increasing applications of lab informatics solutions is expected to provide significant growth opportunities for players in the global laboratory informatics market. For instance, in July 2019, Abbott announced the launch of the laboratory information management system designed for global manufacturing and R&D (research & development) sectors including pharmaceuticals, biotech, chemicals, and petrochemicals, among others.
Market Trends/Key Takeaways:
- Advancements in laboratory information management systems is expected to propel growth of the laboratory informatics market. For instance, in February 2019, LabVantage Solutions launched 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.
- Introduction of novel products/solutions by market players is expected to aid in the growth of the laboratory informatics market. For instance, in March 2020, Millipore Sigma announced the launched its Lanexo Lab Inventory, Safety, and Compliance Management System at Pittcon 2020. The system is a new digital laboratory informatics solution designed to drastically reduce time in labs and improve data quality and traceability.
- Abbott Laboratories (Abbott Informatics Corporation)
- Agilent Technologies
- Cerner Corporation
- Mckesson Corporation
- Thermo Fisher Scientific Inc.
- LabLynx Inc.
- LabVantage Solutions Inc.
- LabWare Inc.
- PerkinElmer Inc.
- Waters Corporation