San Francisco, 12
September 2018: The U.S. laboratory informatics market size is expected to reach USD 1.45 billion by 2025,
according to a new report by Grand View Research, Inc., progressing at a CAGR
of 4.9% during the forecast period. Rising demand for lab automation and
information management activities owing to increasing amount of data generated
by research laboratories is one of the primary growth stimulants for the
market.
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. Use of isolated systems in
laboratories hamper timely data transfer across information management systems,
leading to unexpected delays and additional costs. Additionally, manual
transfer methods increase likelihood of errors/loss leading to added QA
controls and high number of manual transcription steps result in decreased
efficiency and longer throughput time.
Seamless flow of
information from raw data to reusable knowledge is managed by a combination of
various informatics systems. In a laboratory, deployment of these informatics
systems is highly dependent on environment (such as discovery, development, or
manufacturing) and scientific domain (such as biology, chemistry, among
others).
Application of an
informatics system in drug discovery is different from how it is used in
clinical and manufacturing domains. 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.
Access Research Report
of U.S. Laboratory
Informatics Market @ www.grandviewresearch.com/industry-analysis/us-laboratory-informatics-market
Further
key findings from the study suggest:
· The LIMS segment held the substantial share
of approximately 42.0% based on product in 2017, owing to rising adoption of
LIMS solutions by biobanks coupled with increasing demand for integrated
healthcare solutions
· The cloud-based solutions segment is
expected to register a CAGR of 5.5% over the forecast period owing to
advantages over on premise and web-based solutions
· Services held the largest share in the
market on the basis of component in 2017 due to increasing trend of outsourcing
by life science companies
· On the basis of end use, the life science
segment was the leading revenue contributor in the market in 2017 owing to
rising adoption of laboratory informatics systems
· CROs are expected to exhibit a CAGR of 5.6%
over the forecast period owing to growing number of CROs.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/healthcare-it
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, 2014 - 2025)
·
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, 2014 - 2025)
·
On-premise
·
Web-hosted
·
Cloud-based
U.S. Laboratory Informatics Component Outlook (Revenue,
USD Million, 2014 - 2025)
·
Software
·
Services
U.S. Laboratory Informatics End Use Outlook (Revenue, USD
Million, 2014 - 2025)
·
Life Sciences
·
CROs
·
Petrochemical Refineries & Oil and Gas
Industry
·
Chemical Industry
·
Food and Beverage and Agriculture
Industries
·
Environmental Testing Laboratories
·
Other Industries (Forensics and Metal &
Mining Laboratories)
Access Press Release of
U.S. Laboratory Informatics Market@ www.grandviewresearch.com/press-release/us-laboratory-informatics-market-analysis
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.