U.S. Laboratory Informatics Market Worth $1.62 Billion By 2030

U.S. Laboratory Informatics Market Growth & Trends

The U.S. Laboratory informatics market size is expected to reach USD 1.62 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.5% over the forecast period. The rising demand for lab automation and information management activities owing to the increasing amount of data generated by research laboratories is one of the primary growth stimulants for the market. The COVID-19 pandemic management has become the key challenge across the globe. Clinical laboratories are struggling to manage the rapid influx of COVID-19 testing samples, which, in turn, is affecting their ability to offer precise testing.

The implementation of automated solutions, such as Laboratory Information Management Systems (LIMS), is anticipated to relieve this stress on clinical laboratories by encouraging efficient testing of voluminous samples. Laboratories are important to both research and manufacturing companies in the healthcare industry. A large amount of data is generated in these labs, which is impossible to capture, collect, store, and analyze manually. This is creating insurmountable obstacles for data management processes and conventional documentation requirements, especially in regulated environments, such as the life sciences sector.

Most laboratories manage information by combining manual & automatic methods and process it by using independent non-integrated data-processing systems. The use of isolated systems in laboratories hamper timely data transfer across information management systems, leading to unexpected delays and additional costs. In addition, manual transfer methods increase the likelihood of errors/loss, leading to added QA controls and a high number of manual transcription steps, which result in decreased efficiency and longer throughput time. The seamless flow of information from raw data to reusable knowledge is managed by a combination of various informatics systems.

In a laboratory, the deployment of these informatics systems is highly dependent on the environment (such as discovery, development, or manufacturing) and scientific domain (such as biology, chemistry, among others). The application of an informatics system in drug discovery is different from how it is used in clinical and manufacturing domains. The overall focus of laboratory informatics is efficiency improvement with respect to paperless information management, regulatory compliance, information quality, and labor cost. The aforementioned benefits are expected to augment the market over the forecast period.

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U.S. Laboratory Informatics Market Report Highlights

• The LIMS segment held a substantial share of the global revenue in 2022 owing to the high adoption by biobanks coupled with increased demand for integrated healthcare solutions

• The cloud-based solutions segment is expected to register a significant CAGR over the forecast period owing to the advantages of these solutions over on-premise and web-hosted solutions

• The services component segment held the largest share in the market in 2022 due to the increasing trend of outsourcing by life science companies

• On the basis of end-use, the life science segment accounted for the maximum revenue share in 2022 due to the high adoption of laboratory informatics systems

• Market players are involved in extensive research for innovation and upgrade of the existing systems. Thus, the introduction of new products is expected to provide this market with lucrative growth opportunities

• In November 2021, PerkinElmer, Inc. publicized the introduction of its PKeye Workflow Monitor, a cloud-based platform allowing laboratory workers to remotely manage and monitor the company’s instruments and workflows in real-time

U.S. Laboratory Informatics Market Segmentation

Grand View Research has segmented the U.S. laboratory informatics market on the basis of product, delivery mode, component, and end use:

U.S. Laboratory Informatics Product Outlook (Revenue, USD Million, 2017 - 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)

U.S. Laboratory Informatics Delivery Mode Outlook (Revenue, USD Million, 2017 - 2030)

• On-Premise

• Web-hosted

• Cloud-based

U.S. Laboratory Informatics Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software

• Services

U.S. Laboratory Informatics End-use Outlook (Revenue, USD Million, 2017 - 2030)

• Life Sciences

  • Pharmaceutical and Biotechnology Companies

  • Biobanks/Biorepositories

  • Contract Services Organizations

  • Molecular Diagnostics & Clinical Research Laboratories

  • Academic Research Institutes

• CROs

• Chemical Industry

• Petrochemical Refineries and Oil & Gas

• Food & Beverages and Agriculture

• Environmental Testing Labs

• Others Industries

List of Key Players of U.S. Laboratory Informatics Market

• Thermo Fisher Scientific, Inc.

• Waters

• LabWare

• Core Informatics

• LabVantage Solutions, Inc.

• LabLynx, Inc.

• PerkinElmer Inc.

• Abbott

• Agilent Technologies, Inc.

• IDBS