Laboratory Informatics Market

The global laboratory informatics market is projected to reach USD 8.7 billion by 2029 from USD 5.3 billion in 2024, at a CAGR of 10.4% during the forecast period. Growth in this market is driven by the growing emphasis on quality assurance, the rising need for efficient data management, and the integration of sophisticated technologies like AI and machine learning with lab informatics solutions. These technologies are leveraged to analyze vast amount of data generated in laboratory as ML algorithms can detect the correlations based on historical data and AI can design experiments by suggesting parameters based on existing data. For instance, LabVantage Solutions offers LabVantage Analytics, an advanced analytics solution integrated with its LIMS platform that leverages AI and machine learning to provide actionable insights from LIMS. However, the resistance to change, high setup and operational costs, and complexity of integration and interoperability are expected to restrain market growth to a certain extent.

The prominent players operating in the Laboratory Informatics market include Thermo Fisher Scientific Inc. (US), LabVantage Solutions Inc. (US), LabWare (US), STARLIMS Corporation (US), Agilent Technologies (US), Waters Corporation (US), LabLynx LIMS (US), Dassault Systèmes (France), Revvity (Perkinelmer) (US), Accelerated Technology Laboratories, Inc. (US), Labworks (US), IDBS (UK), Xybion Digital Inc. (US), Novatek International (Canada), Agaram Technologies Pvt Ltd (India), Siemens (Germany), Caliber Technologies (US), Clinsys (US), Labtrack (US), Labkey (US), Benchling (US), CloudLIMS (US), SciNote LLC (US), L7 Informatics, Inc. (US), QBench (US). These companies adopted strategies such as product launches, product updates, expansions, partnerships, collaborations, mergers and acquisitions to strengthen their market presence in the laboratory informatics market.

To know about the assumptions considered for the study download the pdf brochure

Thermo Fisher Scientific Inc. (US) is one of the leading laboratory informatics companies across the globe. The company provides scientific services and products like LIMS, enterprise data and workflow connectivity, chromatography data system, inventory and asset management, laboratory automation solutions, among others. The company also provides various services such as Validation, consulting and planning, test development and execution, and validation training, Cloud Services, Implementation, product support, etc to support customers across various sectors such as Pharma/Biotech, QA /QC, Oil and Gas, Metals and Mining, Forensic Testing, Water And Environmental Testing, Food & Beverage Testing. Thermo Fisher is actively collaborating with other companies to improve its informatics solutions. For instance, in November 2023, Thermo Fisher Scientific and Flagship Pioneering (US) expanded their partnership to to establish new platform companies, focusing on innovative tools to advance the biotech ecosystem and expedite the development of pioneering therapies. The company has a presence across the Americas, APAC, and EMEA regions.

LabVantage Solutions, Inc. (US) stands out as a prominent player in the laboratory informatics market, The company offers laboratories worldwide a comprehensive range of informatics products and services. It combines industry knowledge with technology to optimize laboratory operations effectively. Their offerings include LIMS, electronic lab notebooks (ELN), and business intelligence solutions such as Laboratory Execution System and Scientific Data Management System in sectors such as Pharma & Biotech, Biobanking, Diagnostics, Food & Beverage, Oil & Gas, Contract Testing, Cancer Research, Public Health Labs, Consumer Packaged Goods, Forensic and Government. LabVantage has been actively expanding its presence through acquisitions and technology integrations. For example, in May 2024 they bolstered their presence in the Asia Pacific region by acquiring SEIN Infotech (located in South Korea) to incorporate EHS management solutions. These endeavors demonstrate LabVantages dedication to innovation and market leadership within the landscape of the laboratory informatics market. The company has established offices across the Americas, Europe, Asia Pacific and the Middle East, as Africa.

Related Reports:

Laboratory Informatics Market by Type (LIMS, ELN, CDS, LES, SDMS), Component (Software, Service, Support), Delivery (On premise, Cloud (SaaS, PaaS, IaaS)), Industry (Pharma, Biotech, CRO, Chemical, Agri, FnB, Oil, Gas), & Region - Global Forecast to 2029

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]