Laboratory Informatics Market To Reach $5.21 Billion By 2030

Laboratory Informatics Market Growth & Trends

The global laboratory informatics market size is anticipated to reach USD 5.21 billion by 2030, growing at a CAGR of 5.13% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising regulatory pressures to accelerate the adoption of Laboratory Information Management Systems (LIMS) among life sciences companies, aiding in compliance management and cost-effective workflow management needs are driving the market growth. The surge in LIMS usage by biobanks and the demand for integrated healthcare are primary growth drivers. Moreover, advancements in LIMS technology are set to further propel market expansion in the coming year.

Data generated by laboratories has significantly increased over the forecast period owing to rapid technological advancements in molecular genomics and genetic testing practices. In addition, shifts in preference toward personalized medicine, cancer genomics studies, and increasing patient engagement are anticipated to fuel the market growth in the coming years. The increasing emphasis on using big data and modeling in research, along with the incorporation of AI and machine learning in healthcare, is driving market growth.

Tools such as Tableau and Spotfire are enhancing data visualization capabilities and enabling the generation of innovative insights in laboratory settings. As a result, industry leaders are heavily investing in these technologies to stay ahead in the market. For instance, in August 2021, IDBS and Tableau publicized a strategic corporation to integrate Tableau into the IDBS suite of products. The partnership will enhance IDBS’s product offerings. These initiatives are anticipated to boost market growth over the forecast period.

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Laboratory Informatics Market Report Highlights

• Based on product, the LIMS segment dominated the market in 2023. This is attributed to the associated benefits such as data tracking and management with fewer errors.

• Based on delivery mode, the web-based segment dominated the market in 2023. This is attributed to the demand for streamlined data management and analysis, alongside the exponential growth in data volume and diverse formats

• Based on components, the services segment dominated the market in 2023. This is attributed to the increasing demand for versatile, scalable LIMS solutions for efficient data and process management that is driving growth, with large pharma and research labs outsourcing advanced analytics due to internal limitations.

• Based on end use, the life science companies segment dominated the market in 2023. This is attributed to the rising demand for laboratory informatics to drive product innovation, enhance quality, and boost operational efficiency.

• North America region held the largest market share in 2023 which is attributed to supportive government initiatives promoting the adoption of LIMS.

• In February 2023, LabWare launched LabWare 8, which integrates LIMS, ELN, Mobile, and LabWare Analytics into the LabWare Enterprise Laboratory Platform (ELP), providing the most adaptable and functionally complete solution for laboratories of any size.

Laboratory Informatics Market Segmentation

Grand View Research has segmented the global laboratory informatics market based on the product, delivery mode, component, end use, and region:

Laboratory Informatics Product Outlook (Revenue, USD Million, 2018 - 2030)

• Laboratory Information Management Systems (LIMS)

• Electronic Lab Notebooks (ELN)

• Scientific Data Management Systems (SDMS)

• Laboratory Execution Systems (LES)

• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)

• Chromatography Data Systems (CDS)

• Enterprise Content Management (ECM)

Laboratory Informatics Delivery Mode Outlook (Revenue, USD Million, 2018 - 2030)

• Web-based

• On-Premise

• Cloud Based

Laboratory Informatics Component Outlook (Revenue, USD Million, 2018 - 2030)

• Software

• Services

Laboratory Informatics End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Life Sciences

  • Pharmaceutical and Biotechnology Companies

  • Biobanks/Biorepositories

  • Contract Services Organizations

  • Molecular Diagnostics & Clinical Research Laboratories

  • Academic Research Institutes

• CROs

• Chemical Industry

• Food & Beverage and Agriculture Industries

• Environmental Testing Laboratories

• Petrochemical Refineries and Oil & Gas Industry

• Other Industries (Forensics and Metal & Mining Laboratories)

Laboratory Informatics Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Laboratory Informatics Market

• Abbott

• Agilent Technologies, Inc.

• IDBS

• LabLynx, Inc.

• LabVantage Solutions, Inc.

• LabWare

• McKesson Corporation

• PerkinElmer, Inc.

• Thermo Fisher Scientific, Inc.

• Waters