With 5.8% CAGR: The Laboratory Informatics Market worth US$ 5.5 billion by 2032 Globally - Report by Persistence Market Research

During the forecast period (2022-2032), the cloud-based deployment mode of laboratory informatics will be accounted for the highest CAGR (6%)

New York, Feb. 22, 2023 (GLOBE NEWSWIRE) -- The Laboratory Informatics Market was valued at US$ 3.2 billion in 2022 and is expected to grow at a CAGR of 5.8% from 2023 to 2032, reaching a market size of US$ 5.5 billion by 2032. The market is segmented by component, deployment model, industry, and region.

Laboratory informatics refers to the application of information technology in the management and automation of laboratory operations, data management, and analysis. Laboratory informatics includes software, hardware, and services that are used to manage laboratory operations such as sample management, data management, and analysis. The laboratory informatics market has seen significant growth in recent years, driven by the increasing demand for automation and digitization in laboratories.

The cloud-based category led the market in 2021, accounting for more than 40% of revenue, and is likely to retain its dominance throughout the forecast period. Cloud-based technology allows for remote storage of vast volumes of data, freeing up space on devices and facilitating data retrieval based on client requirements. Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS) are the three services provided by the technology (SaaS). SaaS-based services are provided for the cloud-based analytics software. IBM's Watson Analytic services are available as a SaaS platform. 

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Cloud-based LIMS services are provided by companies such as Core Informatics and LabVantage Solutions, Inc. CROs are increasing their use of cloud-based platforms owing to the accompanying benefits such as lower personnel costs, less time and space required for system setup, and secure access to clinical data. Other advantages of cloud-based solutions include real-time data tracking, remote data access, and a simple ecosystem. These aforementioned aspects are projected to provide profitable chances for this market. 

The on-premise delivery approach entails installing services and solutions on computers located within the firm. Web-based LIMS systems are made available to users via web servers that employ the internet protocol. Web-based solutions are made up of four components: an internet connection, a web server, a data administrator, and a software coding system. Using the internet and web-based services allows access to even the most remote places using only one computer or monitoring equipment in labs. Over the projection period, rising usage of cloud computing solutions is likely to hinder the growth of the web-based and on-premise categories. 

Key Takeaways from the Market Study 

  • The global Laboratory Informatics market is worth more than US$ 3.2Bn at present.  
  • Value of the Laboratory Informatics market is projected to increase at a CAGR of around 5.8% during 2022 – 2032 
  • The major product that is used and has high demand is Laboratory Information Management Systems (LIMS) which will be accounted for 6.1% CAGR during (2022-2032) 
  • The US market for Laboratory Informatics is projected to expand at a CAGR of around 6.1% during 2022 – 2032. 

Extensive development in the healthcare industry has prompted prominent Laboratory Informatics manufacturers to launch highly robust and durable components, aimed at increasing facilities and services to the medical industry and also provide renewed growth opportunities, comments a Persistence Market Research analyst. 

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Competitive Landscape 


Several regional and global players operating in this market. These companies compete based on the innovation of their products, their quality, their brand reputation, and their market presence to sell their products through various industries. A variety of strategies are being employed by companies to remain competitive.   

  • In August 2021, Abbott Informatics released STARLIMS Laboratory Execution System v1.1. Based on the most recent STARLIMS Quality Manufacturing QM 12.2 standard, this is the case. 
  • LabVantage Analytics, a full-featured, self-service advanced analytics solution that allows users to easily explore, analyze, and visualize LIMS, enterprise, and external data to gain actionable business insights, will be launched by LabVantage Solutions, Inc. in March 2021. 
  • GoMeyra MD, a next-generation healthcare management platform, will be available in July 2021. 

 More Insights Available 

Persistence Market Research, in its new offering, presents an unbiased analysis of the Laboratory Informatics market, presenting historical market data (2017-2021) and forecast statistics for the period of 2023-2032. 

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The study reveals essential insights based on

  • Product Type (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), Sclerotherapy, Cellulite Treatment),
  • Deployment Mode (On-premise, Web-hosted and Cloud-based),
  • Component (Software and Services),
  • End-User (Sciences, CROs, Chemical Industry, F&B and Agriculture, Environmental Testing Labs, Petrochemical Refineries & Oil and Gas Industry, Other End-Users)
  • across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa). 

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