The global laboratory informatics market accounted for USD 4.29 billion in 2023 and is expected to reach at USD 13.27 billion by 2034 with a CAGR of 10.81% during the forecast period 2024-2034. Increasing advancements in molecular genomics & genetic testing methods, a preference shift towards personalized medicine & cancer genomics research, heightened patient involvement needs, increased demand for laboratory automation systems, a trend towards cloud-based data storage, rise in startups specializing in laboratory informatics, surge in research laboratories adopting cloud, mobile, & voice technologies, and growing launch of laboratory informatics software are some of the leading factors fuelling the market growth.
Growing launch of laboratory informatics software is predicted to boost the market growth during the forecast period. Laboratory informatics aims to streamline laboratory operations through the utilization of information technology, facilitating the management of laboratory data and information. For instance, in September 2022, Version 7.7.1 of Thermo Fisher Scientific, Inc.'s Watson Laboratory Information Management System software has been released, allowing customers to put Watson on a cloud platform while maintaining compliance with 21 CFR Part 11 for Open Systems rules.
By product, laboratory information management systems (LIMS) was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the rising integration in biobanking sector, growing investment by major market players, surge in demand within the life sciences & research sectors for fully integrated services aimed at reducing data management errors and enhancing the qualitative analysis of research data, and increasing focus on expansion initiatives by market players. For instance, in July 2022, LabWare disclosed that Yposkesi has opted for its 'LabWare Pharma Solution' Laboratory Information Management System (LIMS) for deployment at its facility in Corbeil-Essonnes, France. Yposkesi, a prominent Contract Development and Manufacturing Organization (CDMO) specializing in gene therapy viral vector production in Europe, intends to enhance its regulatory health compliance and streamline multiple analytical processes with this implementation. Additionally, Enterprise Content Management (ECM) is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of Enterprise Content Management (ECM), primarily due to its provision of integrated and thorough solutions tailored to address the expanding complexities within the healthcare sector. ECM presents a centralized method for capturing, generating, organizing, accessing, and analyzing an organization's complete range of media, knowledge assets, and electronic documents. Companies providing ECM services typically offer consultation, design, implementation, and maintenance of these software solutions.
By delivery mode, cloud-based was the highest revenue-grossing segment in the global laboratory informatics market in 2023. Cloud-based technology enables the remote storage of vast data volumes, freeing up space on devices and enabling seamless data retrieval tailored to client requirements. SaaS-based services include cloud-based analytics software, such as IBM's Watson Analytic services offered on the SaaS platform. Additionally, on-premise is predicted to grow at the fastest CAGR during the forecast period as it entails installing services and solutions on computers within the organization and witnessing increasing collaborations among market players. For instance, in April 2022, Scitara unveiled a collaboration with PerkinElmer to integrate the PerkinElmer Signals Research Suite informatics platform with laboratory instruments, applications, and resources using the Scitara Scientific Integration Platform (SIP). This partnership is geared towards achieving digital transformation by establishing a fully interconnected laboratory with standardized data integrity, data mobility, user adaptability, and system versatility.
By component, services was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the rising trend in outsourcing Laboratory Information Management System (LIMS) solutions, increasing user awareness of the benefits they offer. Large pharmaceutical research laboratories often lack the resources and expertise needed for analytics deployment, leading them to outsource these services. Contract Research Organizations (CROs) provide laboratory informatics services in comprehensive packages, covering various areas such as compliance with promotional spend, social media analytics, manufacturing processes, preventive maintenance, predictive analytics for medical device failures, and benchmarking solutions. Additionally, software is predicted to grow at the fastest CAGR during the forecast period owing to the availability of technologically advanced software, including Software as a Service (SaaS), provides efficient information management solutions for laboratories, and increasing introduction of such advanced solutions. The software designed for laboratory informatics is capable of executing essential tasks such as data capture, storage, interpretation, and analysis. Regular updates to this software are crucial to align with the latest analytical techniques. For instance, in May 2022, LabLynx introduced the 'CannaQA Standard Edition' Laboratory Information Management System (LIMS) solution, a component of its CannaQA solution suite tailored for startup and emerging cannabis testing labs. This offering is designed to deliver quick turnaround times and streamline testing workflows, incorporating features aimed at enhancing efficiency. Additionally, it incorporates the CannaQA submitter portal, allowing real-time updates on the LIMS as test requisitions are submitted.
By end-user, life science was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the growing demand for laboratory informatics within the life sciences sector, the demand for innovate products, enhance product quality, & boost operational efficiency, increasing requirement for virtual & electronic laboratories, rising technological advancements in healthcare, intensified research & development in medicine, surge in the adoption of Laboratory Information Management Systems (LIMS) in hospital & research laboratories, and upsurge in mergers & acquisitions among market players. For instance, in October 2022, LabVantage Solutions revealed its merger with Biomax Informatics aimed at enhancing scientific exploration and product innovation, while also elevating the delivery of enhanced services to clients. Biomax Informatics specializes in software solutions and services primarily for the life sciences, healthcare, and information technology industries. Additionally, CROs is predicted to grow at the fastest CAGR during the forecast period owing to the rising inclination towards outsourcing, with outsourcing companies increasingly embracing Laboratory Information Management Systems (LIMS) to mitigate healthcare expenses, alongside recognizing the advantages of LIMS utilization. Moreover, LIMS is also utilized in forensic science, as well as in the metal and mining sectors, in addition to various pharmaceutical laboratories.
North America region is anticipated for the highest revenue share during the forecast period owing to the deployment of laboratory information systems is bolstered by supportive policies, the presence of infrastructure with high digital literacy, increasing healthcare costs & mounting pressure to reduce expenses are driving the need to lower the cost curve, the existence of well-established pharmaceutical companies, and rise in collaborations among market players. For instance, in June 2022, LabVantage Solutions and Holo4Labs have entered into a worldwide collaboration agreement to integrate LabVantage LIMS with Holo4Labs' mixed reality software solution. This integration utilizes VR Microsoft HoloLens 2 goggles, allowing laboratory technicians to view hologram overlays. These overlays assist in various tasks, including identifying and managing reagents, locating samples accurately, and identifying instruments requiring calibration before conducting experiments or analyses. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of Contract Research Organizations (CROs) providing Laboratory Information Management System (LIMS) solutions, increasing trend of companies outsourcing LIMS to cut down on support system expenses and enhance operational effectiveness, rising need to control operational costs associated with information management and analysis, and increase in expansion efforts among market players. For instance, in February 2023, The implementation of the STARLIMS Laboratory Information Management System project has begun for the life sciences division of Waker Bioscience in Shanghai. Waker Bioscience Co., Ltd., a prominent player in the Chinese gene therapy risk assessment sector, has enlisted the assistance of STARLIMS to improve operational efficiency through automation. This initiative is aimed at achieving long-term digitization objectives and compliance with regulations.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Growing launch of laboratory informatics software is predicted to boost the market growth during the forecast period. Laboratory informatics aims to streamline laboratory operations through the utilization of information technology, facilitating the management of laboratory data and information. For instance, in September 2022, Version 7.7.1 of Thermo Fisher Scientific, Inc.'s Watson Laboratory Information Management System software has been released, allowing customers to put Watson on a cloud platform while maintaining compliance with 21 CFR Part 11 for Open Systems rules.
By product, laboratory information management systems (LIMS) was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the rising integration in biobanking sector, growing investment by major market players, surge in demand within the life sciences & research sectors for fully integrated services aimed at reducing data management errors and enhancing the qualitative analysis of research data, and increasing focus on expansion initiatives by market players. For instance, in July 2022, LabWare disclosed that Yposkesi has opted for its 'LabWare Pharma Solution' Laboratory Information Management System (LIMS) for deployment at its facility in Corbeil-Essonnes, France. Yposkesi, a prominent Contract Development and Manufacturing Organization (CDMO) specializing in gene therapy viral vector production in Europe, intends to enhance its regulatory health compliance and streamline multiple analytical processes with this implementation. Additionally, Enterprise Content Management (ECM) is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of Enterprise Content Management (ECM), primarily due to its provision of integrated and thorough solutions tailored to address the expanding complexities within the healthcare sector. ECM presents a centralized method for capturing, generating, organizing, accessing, and analyzing an organization's complete range of media, knowledge assets, and electronic documents. Companies providing ECM services typically offer consultation, design, implementation, and maintenance of these software solutions.
By delivery mode, cloud-based was the highest revenue-grossing segment in the global laboratory informatics market in 2023. Cloud-based technology enables the remote storage of vast data volumes, freeing up space on devices and enabling seamless data retrieval tailored to client requirements. SaaS-based services include cloud-based analytics software, such as IBM's Watson Analytic services offered on the SaaS platform. Additionally, on-premise is predicted to grow at the fastest CAGR during the forecast period as it entails installing services and solutions on computers within the organization and witnessing increasing collaborations among market players. For instance, in April 2022, Scitara unveiled a collaboration with PerkinElmer to integrate the PerkinElmer Signals Research Suite informatics platform with laboratory instruments, applications, and resources using the Scitara Scientific Integration Platform (SIP). This partnership is geared towards achieving digital transformation by establishing a fully interconnected laboratory with standardized data integrity, data mobility, user adaptability, and system versatility.
By component, services was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the rising trend in outsourcing Laboratory Information Management System (LIMS) solutions, increasing user awareness of the benefits they offer. Large pharmaceutical research laboratories often lack the resources and expertise needed for analytics deployment, leading them to outsource these services. Contract Research Organizations (CROs) provide laboratory informatics services in comprehensive packages, covering various areas such as compliance with promotional spend, social media analytics, manufacturing processes, preventive maintenance, predictive analytics for medical device failures, and benchmarking solutions. Additionally, software is predicted to grow at the fastest CAGR during the forecast period owing to the availability of technologically advanced software, including Software as a Service (SaaS), provides efficient information management solutions for laboratories, and increasing introduction of such advanced solutions. The software designed for laboratory informatics is capable of executing essential tasks such as data capture, storage, interpretation, and analysis. Regular updates to this software are crucial to align with the latest analytical techniques. For instance, in May 2022, LabLynx introduced the 'CannaQA Standard Edition' Laboratory Information Management System (LIMS) solution, a component of its CannaQA solution suite tailored for startup and emerging cannabis testing labs. This offering is designed to deliver quick turnaround times and streamline testing workflows, incorporating features aimed at enhancing efficiency. Additionally, it incorporates the CannaQA submitter portal, allowing real-time updates on the LIMS as test requisitions are submitted.
By end-user, life science was the highest revenue-grossing segment in the global laboratory informatics market in 2023 owing to the growing demand for laboratory informatics within the life sciences sector, the demand for innovate products, enhance product quality, & boost operational efficiency, increasing requirement for virtual & electronic laboratories, rising technological advancements in healthcare, intensified research & development in medicine, surge in the adoption of Laboratory Information Management Systems (LIMS) in hospital & research laboratories, and upsurge in mergers & acquisitions among market players. For instance, in October 2022, LabVantage Solutions revealed its merger with Biomax Informatics aimed at enhancing scientific exploration and product innovation, while also elevating the delivery of enhanced services to clients. Biomax Informatics specializes in software solutions and services primarily for the life sciences, healthcare, and information technology industries. Additionally, CROs is predicted to grow at the fastest CAGR during the forecast period owing to the rising inclination towards outsourcing, with outsourcing companies increasingly embracing Laboratory Information Management Systems (LIMS) to mitigate healthcare expenses, alongside recognizing the advantages of LIMS utilization. Moreover, LIMS is also utilized in forensic science, as well as in the metal and mining sectors, in addition to various pharmaceutical laboratories.
North America region is anticipated for the highest revenue share during the forecast period owing to the deployment of laboratory information systems is bolstered by supportive policies, the presence of infrastructure with high digital literacy, increasing healthcare costs & mounting pressure to reduce expenses are driving the need to lower the cost curve, the existence of well-established pharmaceutical companies, and rise in collaborations among market players. For instance, in June 2022, LabVantage Solutions and Holo4Labs have entered into a worldwide collaboration agreement to integrate LabVantage LIMS with Holo4Labs' mixed reality software solution. This integration utilizes VR Microsoft HoloLens 2 goggles, allowing laboratory technicians to view hologram overlays. These overlays assist in various tasks, including identifying and managing reagents, locating samples accurately, and identifying instruments requiring calibration before conducting experiments or analyses. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of Contract Research Organizations (CROs) providing Laboratory Information Management System (LIMS) solutions, increasing trend of companies outsourcing LIMS to cut down on support system expenses and enhance operational effectiveness, rising need to control operational costs associated with information management and analysis, and increase in expansion efforts among market players. For instance, in February 2023, The implementation of the STARLIMS Laboratory Information Management System project has begun for the life sciences division of Waker Bioscience in Shanghai. Waker Bioscience Co., Ltd., a prominent player in the Chinese gene therapy risk assessment sector, has enlisted the assistance of STARLIMS to improve operational efficiency through automation. This initiative is aimed at achieving long-term digitization objectives and compliance with regulations.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Delivery Mode, Component, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
Segmentation: Laboratory Informatics Market Report 2023 - 2034
Laboratory Informatics Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
- Laboratory Information Management Systems (LIMS)
- Scientific Data Management Systems (SDMS)
- Enterprise Content Management (ECM)
- Chromatography Data Systems (CDS)
- Laboratory Execution Systems (LES)
- Electronic Lab Notebooks (ELN)
Laboratory Informatics Market Analysis & Forecast by Delivery Mode 2023 - 2034 (Revenue USD Bn)
- Cloud-based
- Web-hosted
- On-premise
Laboratory Informatics Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Services
- Software
Laboratory Informatics Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Life Sciences
- Molecular Diagnostics & Clinical Research Laboratories
- Pharmaceutical and Biotechnology Companies
- Contract Services Organizations
- Academic Research Institutes
- Biobanks/Biorepositories
- CROs
- Chemical Industry
- Environmental Testing Laboratories
- Food & Beverage And Agriculture Industries
- Petrochemical Refineries And Oil & Gas Industry
- Other Industries
- Forensics
- Metal & Mining Laboratories
Laboratory Informatics Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Laboratory Informatics Market: Product Estimates & Trend Analysis
8. Laboratory Informatics Market: Delivery Mode Estimates & Trend Analysis
9. Laboratory Informatics Market: Component Estimates & Trend Analysis
10. Laboratory Informatics Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Laboratory Informatics Market
13. Europe Global Laboratory Informatics Market
14. Asia Pacific Global Laboratory Informatics Market
15. Latin America Global Laboratory Informatics Market
16. MEA Global Laboratory Informatics Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- LabVantage Solutions Inc.
- ID Business Solutions Ltd.
- Thermo Fisher Scientific Inc.
- LabLynx Inc.
- Agilent Technologies
- Abbott Informatics
- McKesson Corporation
- PerkinElmer Inc.
- LabWare
- Waters Corporation
