The global laboratoryinformatics market size was USD 2.37 Billion in 2019 and is expected to reachUSD 3.87 Billion by 2027, at a CAGR of 6.8% during the forecast period. Theglobal laboratory informatics market is expected to expand significantly in thenext few years, due to increasing need for scientific data integrationsolutions and growing adoption of laboratory information management systems.Besides, emergence of cost-effective solutions for informatics is alsoanticipated to fuel the global laboratory informatics market during theforecast period. Moreover, growing adoption of laboratory automation todecrease operational expenses is likely to boost the global laboratoryinformatics market in the near future.
The report is updated with thelatest impact of the novel coronavirus pandemic on the market. The pandemic hasdrastically altered the market dynamics and trends and demands. It has alsodisrupted the supply chain and generated financial difficulties. The reportcovers the comprehensive effect of the pandemic on the industry and offers aninitial and future impact assessment of the impact of the COVID-19 pandemic onthe Laboratory Informatics Market business sphere.
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KeyHighlights of Report
In January 2020, Andrew Alliance SA was acquired by WatersCorporation. The addition of Andrew Alliance extends Waters' technology rangeto incorporate modern robots and applications, which would help increase theworkflow of customers across healthcare, biotechnology, and molecular biologyindustries.
Due to the rising demand for cost-efficient, secure, andreliable implementations, the service segment is expected to dominate themarket for laboratory informatics, expanding at a CAGR of 6.8% during theforecast period.
During the forecast period, the cloud-based segment islikely to lead the market. In the healthcare sector, emergence of cloud-basedtechnology allows enterprises to be more responsive to consumer requirements,which would boost the segment in the near future.
Due to advantages associated with use of laboratoryinformation management systems, the laboratory information management systemssegment is likely to hold the largest market share throughout the forecastperiod. This system is a flexible technology interface for centralizingworkflows in a laboratory.
Due to growing need to manage massive data volumes to storeimportant information, the pharmaceutical & biotechnology segment isprojected to lead the market during the forecast period.
During the forecast period, the North America region isanticipated to lead the global market for laboratory informatics. Presence ofdeveloped pharmaceutical companies and increasing need for reducing operationalcosts of storing and transmitting the information in the region are driving themarket in North America.
Key market participants include Agilent Technologies, Inc.,Dassault Systèmes SE, LabLynx, Inc., Thermo Fisher Scientific, Inc., LabVantageSolutions, Inc., Cerner Corporation, McKesson Corporation, PerkinElmer, Inc.,Accelerated Technology Laboratories, Inc., and Waters Corporation
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RegionalLandscape
North America (U.S., Canada)
Europe (U.K., Italy, Germany,France, Rest of EU)
Asia Pacific (India, Japan,China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil,Argentina, Rest of Latin America)
Middle East & Africa (SaudiArabia, U.A.E., South Africa, Rest of MEA)
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