SAN FRANCISCO, November 16, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc. (GIA), the leading market research firm, today released its report titled “Laboratory computing – Trajectory and analysis of the world market”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 8; Posted: October 2021
Executive pool: 2471
Companies: 86 – Actors covered include Abbott Informatics; Agilent Technologies, Inc .; Arxspan, LLC; Autoscribe Informatics, Inc .; Bio-ITech BV; Bytewize AB; Dassault SystÃ¨mes; ID Business Solutions Ltd. (IDBS); iVention BV; KineMatik Ltd. ; Lablynx, Inc .; Labvantage Solutions, Inc .; LabWare, Inc .; Labworks LLC. ; PerkinElmer, Inc .; RURO, Inc .; Thermo Fisher Scientific, Inc .; Water Corporation and others.
Blanket: All major geographies and key segments
Segments: Solution (Laboratory Information Management Systems (LIMS), Electronic Laboratory Notebooks (ELN), Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES), Enterprise Content Management ( ECM), other solutions); End use (life science companies, contract research organizations, chemical industries, food and agriculture industries, environmental testing laboratories, other end uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; and rest of Europe); Asia Pacific; Rest of the world.
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Global Laboratory Computing Market to Reach US $ 4.5 billion by 2026
The term “laboratory computing” refers to the application of information technology in a specialized manner for the purpose of optimizing laboratory operations for extended use. The growth of the global market is expected to be driven by advancements in integrated laboratory IT solutions, the growing need for laboratory automation, the growing demand for bio-repositories and biobanks, the growing demand from academic research institutes and research organizations under contract (CRO) and the growing need to adhere to regulatory standards The advent of big data analytics and digital systems is fueling the growth of laboratory computing. Based on their ability to generate reliable information, several health service providers are now integrating laboratory computer systems. This helps them dramatically reduce misdiagnosis while improving patient outcomes. Ongoing technological advancements are helping companies deliver interactive and faster laboratory computing solutions to end users. The introduction of digital platforms, automated workstations and system instrument software enables end users to improve operational efficiency and minimize manual errors.
In the midst of the COVID-19 crisis, the global laboratory computing market is estimated to be US $ 2.9 billion in 2020, is expected to reach a revised size of US $ 4.5 billion by 2026, with a CAGR of 7.8% over the analysis period. Laboratory Information Management Systems (LIMS), one of the segments analyzed in the report, is expected to grow at a CAGR of 8.9% to reach US $ 2.5 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Electronic Laboratory Notebooks (ELN) segment is readjusted to a revised CAGR of 7.3% for the next 7-year period. This segment currently represents a 21.3% share of the global laboratory computing market. The growing desire to minimize data processing errors, along with the growing popularity of integrated services are fueling the demand for Laboratory Information Management Systems (LIMS). The advanced electronic laboratory notebook (ELN) systems market is expected to experience strong growth owing to larger implementations in analytical chemistry laboratories.
The US market is estimated at $ 1.3 billion in 2021, when China is expected to reach $ 454.8 million by 2026
The laboratory computing market in the United States is estimated at US $ 1.3 billion in 2021. The country currently represents 42.8% of the world market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 454.8 million during the year 2026, with a CAGR of 10.5% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 6.6% and 7.5% respectively over the period of analysis. In Europe, Germany is expected to grow by around 6.7% CAGR while the rest of the European market (as defined in the study) will reach US $ 495.9 million at the end of the analysis period. North America dominates the global laboratory IT systems market, owing to favorable policies to promote the deployment of laboratory IT solutions, the availability of superior infrastructure as well as the digital culture and presence of large pharmaceutical companies. In addition, factors such as the growing adoption of integrated laboratory systems, the growing need for early drug discovery, the increase in biobanks, growing government funding for research activities, stringent regulatory requirements and the Expanding the range of IT laboratory products and services are factors that are driving the growth of the market. . Asia Pacific is expected to experience robust growth, supported by increased R&D spending from the private and public sectors, an increase in the number of CROs providing LIMS solutions and growing awareness of LIMS.
Scientific Data Management Systems (SDMS) segment to be achieved $ 405.8 million by 2026
A Scientific Data Management System (SDMS) refers to a software tool that acts as a Document Management System (DMS) to capture, catalog and archive data generated by various laboratory instruments such as mass spectrometry and HPLC, and applications such as LIMS, ELN and analytical applications. In the global Scientific Data Management Systems (SDMS) segment, United States, Canada, Japan, China and Europe will lead to the estimated 6.3% CAGR for this segment. These regional markets representing a combined market size of 243 million US dollars in 2020 will reach a projected size of US $ 369.9 million at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 33.9 million by 2026. Following
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