Resources
About Us
North America Laboratory Informatics Market By Product (LIMS, ELN, LES, EDC, ECM, CDMS, SDMS), Component (Services, Software), Delivery (On Premise, Cloud, Web), End User (Pharma, Biotech, MDx, Biobank, CRO, F and B, Oil, Gas, Chemical) - Forecast To 2024
Report ID: MRHC - 10417 Pages: 133 Sep-2018 Formats*: PDF Category: Healthcare Delivery: 2 to 4 Hours Download Free Sample ReportResearch laboratories and organizations across North America are increasingly modernizing their approach and using laboratory informatics solutions for capturing, tracking, managing, and sharing their research and manufacturing data. Moreover, scientific advances in the fields of genomics, proteomics, and personalized medicine exponentially increase the need for efficient data management. Laboratory informatics solutions are helping researchers and scientists seamlessly gather, store, retrieve, monitor, search, share, report and collaborate their work thereby saving time and simplifying work procedures. The North America laboratory informatics market is expected to reach $1,715.0 million by 2024, growing at a CAGR of 6.2% from 2018 to 2024.
Increasing R&D activities & growing automation drives the market growth
Increasing R&D activities help in drug discovery and drug development. This in turn, boosts the demand for efficient lab and data management. Growing number of companies involved in R&D are shifting from traditional old systems to digital laboratory solutions. This is because laboratory informatics solutions allow researchers to capture the experiment process, relevant data, and conclusions that were drawn, while simultaneously facilitating a searchable repository of experimental data that researchers can access for effective collaboration. North American R&D spending in the life sciences industry increased by 4.5% to reach $177.6 billion in 2017 while, the U.S. R&D spending for the life sciences industry increased by 3.5% to reach $74.6 billion in 2017. Moreover, academic research is a strong and essential component of the total R&D environment in the U.S. performing nearly 60% of all the basic research. Life sciences field has the largest application of academic research, comprising more than 56% of all academic R&D funding. Thus, significant government funding and academic research focused on life sciences applications provide growth impetus for North American laboratory informatics market.
Click here to: Get Free Request Sample Copy of this report
Laboratories face unstoppable pressure to produce faster turnaround times and reduce errors to improve the research work. Laboratory automation has continued to evolve and expand its capabilities to become an indispensable necessity. Factors such as rising pressure to abide by regulations, improving lab infrastructure, progressing drug discovery and outsourcing of research to CROs, and need to improve efficiencies and have competitive edge in the market are pushing laboratories across the globe towards automation. With growing automation, it becomes essential to manage increasing volumes of data at a faster rate. Informatics solutions can significantly improve the effectiveness and efficiency of an organization’s laboratory operations. Furthermore, the automation of laboratory processes and the integration of data provide a platform to drive scientific decisions, improve quality, and ultimately enable lab professionals to productively advance research, development, and manufacturing. Thus, growing lab automation subsequently drives the growth of the North America laboratory informatics market.
Key Findings in the North America Laboratory Informatics Market Study:
Laboratory Information Management System (LIMS) to witness the largest demand during the forecast period
LIMS solutions are widely adopted as they meet broad range of scientific needs with their ability to provide a suitable environment that is easy to use across multiple disciplines. Moreover, LIMS help laboratories to reduce manual efforts, labor cost, cost of error, and throughput time; offer paperless information management and effective data analytics; improve data traceability, accessibility, security and sharing; streamline processes; enhance quality management; abide by the regulatory requirements, and provide better control of all business processes and decision support. Such factors contribute to the largest share and fastest growth of LIMS market during the forecast period.
On-premise informatics currently dominates the market but web & cloud-based solutions are rapidly gaining traction
On-premise informatics dominates the market as it has been traditionally adopted mode of software delivery, and provides better customization options, total ownership and authority, and security. However, cloud-based informatics segment is expected to witness the highest CAGR during the forecast period owing to factors such as no upfront capital investment for hardware, extreme storage flexibility and scalability, real-time accessibility from anywhere, and pay-as-you-go pricing features.
Life Sciences industry is the largest end user of laboratory informatics solutions in this region
Life sciences industry is expected to continue dominate the North American laboratory informatics market during the forecast period. The high growth of this end-user segment is mainly attributed to growing R&D activities and outsourcing to CROs, presence of strict regulatory guidelines, growing academic research, increasing biobanks and biorepositories, replacement of old legacy systems with advanced informatics solutions, growing automation, and rising need to integrate laboratory systems.
The U.S. comprise significant market share in the North America laboratory informatics market
This research report analyzes North America laboratory informatics market including the U.S., and Canada. The U.S. majorly dominates the North American laboratory informatics market owing to presence of advanced laboratory infrastructure, growing demand for integration of laboratory systems, growing digitalization, rising government funding for research activities, easy availability of laboratory informatics products and services, stringent regulatory requirements across industries, and presence of several key players in this region improving product availability and support services. Improving laboratory infrastructure and automation in the country is changing the workflow of laboratories and is enabling greater penetration of technologies and workflows in research & development labs, food & beverage industries, CROs & CMOs, and various other sectors.
Key players analyzed in this report
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2015-2018). The major players operating in North American laboratory informatics market are Abbott Informatics Corporation, Agilent Technologies, Inc., Arxspan, LLC, Autoscribe Informatics, Dassault Systemes SE, GenoLogics (Illumina, Inc.), LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., Novatek International, PerkinElmer, Inc., Promium LLC, RURO, Inc., Sapio Sciences LLC, Thermo Fisher Scientific Inc., and Waters Corporation, among others.
Scope of the report
Market by Product:
Market by Mode of Delivery:
Market by Component:
Market by End User:
Market by Geography:
Key questions answered in the report:
Increasing R&D activities & growing automation drives the market growth
Life sciences industry accounted for the largest share of the North America laboratory informatics market
North America laboratory informatics market favors both global and local manufacturers that compete in multiple segments
Recent partnerships, acquisitions, and expansions have taken place in the North America laboratory informatics market
Published Date: Jun-2024
Published Date: Jul-2023
Published Date: Jan-2023
Published Date: Oct-2018
Please enter your corporate email id here to view sample report.
Subscribe to get the latest industry updates