European Laboratory Informatics Market- Current outlook and Global Industry Forecast to 2024
Meticulous Research® – leading global
market research company published a research report titled “European 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&B, Oil, Gas, Chemical) –
Forecast to 2024″.
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| European Laboratory Informatics Market |
According to this latest publication from Meticulous
Research®, the European Laboratory Informatics market is expected to
grow at a CAGR of 6.4% from 2018 to reach $1,084.3 million by 2024, driven by
the growing automation in laboratories and digitalization of laboratory data,
increasing R&D activities, need for efficient data management in various
application industries, technological advancements in laboratory solutions, and
rising pressure for regulatory compliance. Moreover, the rapid shift towards
cloud-based solutions offers significant growth opportunities for the market
players during the forecast period. However, the lack of skilled professionals,
data integration and security concerns may hinder the market growth to some
extent.
European laboratory informatics market study presents
historical market data in terms of value (2016 and 2017), estimated current
data (2018), and forecast for 2024-by product type (Laboratory Information
Management System(LIMS), Electronic Lab Notebook (ELN), Chromatography Data
System (CDS), Electronic Data Capture (EDC) &Clinical Data Management
System (CDMS), Laboratory Execution System (LES), Enterprise Content Management
(ECM), and Scientific Data Management System (SDMS)), mode of delivery
(on-premise solutions, cloud-based solutions, and web-based solutions),
component (services and software), end user (life sciences industry, chemical
testing laboratories, food & beverage and agriculture industries, petrochemical
and oil & gas industries, and others). The study also evaluates industry
competitors and analyzes the market at a country level in Europe.
Laboratory Information Management System (LIMS) is
increasingly being adopted in Europe as these solutions help to meet the broad
range of scientific needs with their ability to provide a suitable environment
that is easy to use across multiple disciplines. Moreover, factors such as
technological advancements in LIMS, growing replacement of old legacy LIMS with
COTS LIMS, and growing application of LIMS in biobanking, academic research
institutes and CROs contributes to the largest share and fastest growth of LIMS
market during the forecast period.
The laboratory
informatics solutions are majorly deployed on premises as on-premise solutions
provide better scope for customization, laboratories have total ownership and
authority, and this model is perceived to be more secure.
Life sciences
industry is the leading adopter of laboratory informatics solutions owing to
significant regulatory pressures to maintain data integrity, validity and
security; increasing need to improve lab productivity and cost efficiency; and
the trend towards automation. However, chemical testing laboratories, academic
research institutes, CROs & CMOs, and food & beverage industries are
expected to be the new revenue pockets for market players during the forecast
period.
Laboratory
informatics services commanded the largest share followed by the software in
2017. Services are also expected to witness the highest growth during the
forecast period owing to the growing demand for cloud services and increasing
lab automation, subsequently driving the demand for laboratory informatics
services such as implementation, validation, integration, maintenance,
training, and support.
This research
report analyzes the European region including Germany, U.K., France, Italy,
Spain, Benelux, Nordics and RoE. Laboratory automation in the European region
is increasing on a large scale and this region has a number of pharmaceutical
and biotechnology industries which use laboratory informatics systems for their
end product manufacturing and research and development activities. Other
factors responsible for the increasing adoption are advanced laboratory
infrastructure, rising government funding for research activities, easy
availability of laboratory informatics products and services, stringent
regulatory requirements across industries, and strategic developments by key
players in this region to improve product availability.
The major players
operating in European laboratory informatics market are Abbott Informatics,
Agilent Technologies, Inc., Autoscribe Informatics, Bio-ITech BV (eLabJournal),
Biomed Systems Limited, Broughton Software Limited, Bytewize AB, Dassault
Systemes SE, GenoLogics Life Sciences, Inc. (Illumina, Inc.), Lablynx, Inc.,
LabVantage Solutions, Inc., LabWare Inc., Novatek International, PerkinElmer,
Inc., RURO, Inc., Thermo Fisher Scientific Inc., and Waters Corporation, among
others.
Key questions
answered in the report-
- Which are the high growth
market segments in terms of product, mode of delivery, component, end
user, and countries?
- What is the historical
market for European laboratory informatics market across the globe?
- What are the market
forecasts and estimates from the period 2018-2024?
- What are the major drivers,
restraints, opportunities, and challenges in the European laboratory
informatics market?
- Who are the major players in
the European laboratory informatics market?
- How is the competitive
landscape?
- What are the recent
developments in the European laboratory informatics market?
- What are the different strategies adopted by the
major players in the European laboratory informatics market?
- Who are the local emerging
players in the European laboratory informatics market and how do they
compete with the global players?
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Research® was founded in 2010 and incorporated as Meticulous Market Research
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Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Website: https://www.meticulousresearch.com/
Connect with us | LinkedIn | Twitter |
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