Laboratory Informatics Market Top Key Players, Size, Share, Growth, Trend and Forecast report 2027
The global laboratory informatics market is expected to expand significantly in the next few years, due to increasing need for scientific data integration solutions and growing adoption of laboratory information management systems. Besides, emergence of cost-effective solutions for informatics is also anticipated to fuel the global laboratory informatics market during the forecast period. Moreover, growing adoption of laboratory automation to decrease operational expenses is likely to boost the global laboratory informatics market in the near future. The global laboratory informatics market size was USD 2.37 Billion in 2019 and is expected to reach USD 3.87 Billion by 2027, at a CAGR of 6.8% during the forecast period.
The report provides Laboratory Informatics market forecast, supported by detailed insights historical data and revenues, past and current market trends, industry trends, consumer trends, market size, market share, market growth, along with ranging impacts of each factor and driver. It also provides analysis of various factors expected to restrain or limit potential growth in market size over the forecast period, 2020–2028. The report includes profiles of major players in the market, strategies being employed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Rising focus by major companies on product/service expansion into new and untapped domestic markets, increasing investments in strategic agreements, favourable government policies and regulations, and growing competition in the market are some major trends observed in the Laboratory Informatics market. Development of more advanced offerings is driving rising demand and deployment in respective sectors/industries, and this is expected to drive Laboratory Informatics market revenue growth to a significant extent over the forecast period.
This report is the latest document encompassing the massive changes that took place in the Laboratory Informatics Market following the emergence of the COVID-19 pandemic. The pandemic has drastically affected the global economic landscape, thereby disrupting the operating mechanism of the Laboratory Informatics Market. The severe global crisis has prompted organizations to efficiently respond to the rapidly shifting business environment. Therefore, the report fully covers the profound impact of COVID-19 on this industry, with a special focus on the affected industry segments. However, the market is expected to regain momentum in the post-COVID-19 era. The report also offers an initial and future impact assessment of the pandemic on the Laboratory Informatics Market industry. Hence, the vital COVID-19 insights offered by the report are expected to help organizations manage their businesses effectively in extreme economic uncertainties.
Key Highlights of Report
In January 2020, Andrew Alliance SA was acquired by Waters Corporation. The addition of Andrew Alliance extends Waters’ technology range to incorporate modern robots and applications, which would help increase the workflow of customers across healthcare, biotechnology, and molecular biology industries.
Due to the rising demand for cost-efficient, secure, and reliable implementations, the service segment is expected to dominate the market for laboratory informatics, expanding at a CAGR of 6.8% during the forecast period.
During the forecast period, the cloud-based segment is likely to lead the market. In the healthcare sector, emergence of cloud-based technology allows enterprises to be more responsive to consumer requirements, which would boost the segment in the near future.
Due to advantages associated with use of laboratory information management systems, the laboratory information management systems segment is likely to hold the largest market share throughout the forecast period. This system is a flexible technology interface for centralizing workflows in a laboratory.
Due to growing need to manage massive data volumes to store important information, the pharmaceutical & biotechnology segment is projected to lead the market during the forecast period.
During the forecast period, the North America region is anticipated to lead the global market for laboratory informatics. Presence of developed pharmaceutical companies and increasing need for reducing operational costs of storing and transmitting the information in the region are driving the market in North America.
Key market participants 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
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North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
Chapter 2: Executive Summary
- Business trends
- Regional trends
- Product trends
- End-use trends
Chapter 3: Industry Insights
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
Chapter 4: Regional Landscape
Chapter 5: Company Profile
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
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