Laboratory Informatics Market is Expected to Reach USD 4.88 billion by 2030 Driven by Expanding Field of Cancer Genomics Studies and Growing Preference for Personalized Medicine

Laboratory Informatics Market Scope & Overview

According to a report by SNS Insider, the Laboratory Informatics Market was valued at USD 3.30 billion in 2022 and is projected to reach USD 4.88 billion by 2030, with a compound annual growth rate (CAGR) of 5% during the forecast period from 2023 to 2030.

Laboratory informatics refers to the application of information technology in the management and analysis of scientific data and workflows in a laboratory setting. It involves the use of software, hardware, and data management techniques to enhance efficiency, accuracy, and productivity in laboratory operations.

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Market Analysis
The laboratory informatics market is poised for significant growth due to the increasing demand for laboratory automation. Over the past few decades, there has been a remarkable surge in the volume of data generated by laboratories. This can be attributed to the rapid advancements in molecular genomics and genetic testing practices. As scientists and researchers delve deeper into understanding the complexities of human health and diseases, the need for sophisticated automation systems in laboratories becomes paramount. One of the key factors driving the demand for laboratory automation is the growing preference for personalized medicine.

Key Players Covered in Laboratory Informatics market report are: Abbott Informatics, Agilent Technologies, Thermo Fisher Scientific, Inc., Core Informatics, ID Business Solutions Ltd., LabWare, LabVantage Solutions, Inc., LabLynx, Inc., McKesson Corporation, Waters Corporation, PerkinElmer Inc, and other players

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Impact of Recession
It is important to note that the impact of a recession on the laboratory informatics market can vary depending on the specific industry, geographical region, and the severity and duration of the economic downturn. While recessions generally pose challenges for the market, there are also opportunities for companies that can adapt and demonstrate the value of their solutions in terms of cost savings, efficiency improvements, compliance, and innovation.

Segmentation Analysis
The laboratory informatics market is witnessing the dominance of the LIMS and CSOs segments due to their respective contributions to laboratory efficiency and collaboration. LIMS streamline data management, automate workflows, and ensure regulatory compliance, making them indispensable for laboratories across industries. On the other hand, CSOs offer cost-effective and high-quality laboratory services, allowing organizations to focus on core competencies while leveraging specialized expertise.

Laboratory Informatics Market Segmentation as Follows:

By Product Type
• Laboratory Information Management Systems (LIMS)
• Scientific Data Management Systems (SDMS)
• Electronic Lab Notebooks (ELN)
• Enterprise Content Management (ECM)
• Chromatography Data Systems (CDS)
• Laboratory Execution Systems (LES)
• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)

By Delivery Type
• On-premise
• Cloud-based

By Component Type
• Services
• Software

By End-use Type
• Life Sciences
o Pharmaceutical and Biotechnology Companies
o Contract Services Organizations
o Biobanks/Biorepositories
o Academic Research Institutes
o Molecular Diagnostics & Clinical Research Laboratories
• CROs
• Chemical Industry
• Environmental Testing Labs
• F&B and Agriculture
• Petrochemical Refineries & Oil and Gas Industry
• Other Industries

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Regional Status & Analysis
North America has emerged as the leading region in the laboratory informatics market, showcasing its dominance through various key factors. One of the primary drivers of growth in this regional market is the implementation of supportive policies that encourage the widespread deployment of laboratory information systems (LIMS). These policies have created a favorable environment for the adoption of advanced digital solutions in laboratories across North America.

Conclusion
The market is poised for a prosperous future driven by the need for efficient data management, regulatory compliance, and integration with advanced technologies. The market offers ample opportunities for vendors to develop innovative solutions that cater to the evolving needs of laboratories across various industries.

Frequently Asked Questions/ Key Reasons to Purchase this Report

What is the projected outlook for laboratory informatics market growth?
-The market is projected to reach a valuation of USD 4.88 billion by the year 2030.

What are the major factors influencing the laboratory informatics market?
-Factors such as technological advancements in molecular genomics, the shift toward personalized medicine, and increasing patient engagement requirements are driving the need for advanced automation systems in laboratories.

Who are the leading players in the laboratory informatics market?
-Abbott Informatics, Core Informatics, Agilent Technologies, Thermo Fisher Scientific, Inc., ID Business Solutions Ltd., LabLynx, Inc., McKesson Corporation, LabWare, LabVantage Solutions, Inc., Waters Corporation, PerkinElmer Inc.

Table of Content - Analysis of Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter's 5 forces model

7. PEST Analysis

8. Laboratory Informatics Market Segmentation, By Product Type

9. Laboratory Informatics Market Segmentation, By Delivery Type

10. Laboratory Informatics Market Segmentation, By Component Type

11. Laboratory Informatics Market Segmentation, By End-use Type

12. Regional Analysis

13 Company Profiles

14 Competitive Landscape

15 Conclusion

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