Laboratory Informatics Market

Product Launches was the key Growth Strategy Adopted by the Market Players to Maintain and Improve their Position in the Global Laboratory Informatics Market

The laboratory informatics market is expected to reach USD 3.16 Billion by 2022 from USD 2.32 Billion in 2017, at a CAGR of 6.4% during the forecast period. The need for lab automation, technological advancements, rising pressure to comply with regulatory standards, and growing demand in biobanks/biorepositories, academic research institutes, and CROs are the major factors driving the growth of the laboratory informatics market.

Product Launches was the key growth strategy adopted by the market players to maintain and improve their position in the global laboratory informatics market. Partnerships, collaborations, and agreements accounted for the second largest share of the overall growth strategy mapped from 2014-2017. Some of the leading players who adopted this growth strategy include Thermo Fisher Scientific, Inc. (US), LabVantage Solutions, Inc. (US), LabWare (US), and Agilent Technologies (US).

The laboratory informatics market is diversified and highly competitive, with a large number of players competing for market space, including mid-tier companies and startup firms. Thermo Fisher Scientific, Inc. (US), LabVantage Solutions, Inc. (US), and LabWare (US) dominate the market. Other leading players in the market include Abbott Informatics (US), Waters Corporation (US), PerkinElmer Inc. (US), Agilent Technologies (US), IDBS (UK), Accelerated Technology Laboratories, Inc. (US), RURO, Inc. (US), Dassault Systèmes (France), Autoscribe Informatics (UK), LabLynx, Inc. (US), Novatek International (Canada), ChemWare (US), Computing Solutions, Inc. (US), Kinematix (US), Promium LLC (US), JusticeTrax (US), LABTrack LLC (US), Sapio Sciences (US), LABWORKS (US), and NIPPON Control Systems Corporation (Japan).

Thermo Fisher Scientific was the leading player in the global laboratory informatics market in 2016. The leading position of the company is attributed to its strong brand image and robust product portfolio. To maintain a leading position in the market, the company focuses on adopting inorganic growth strategies. This is evident from the company’s recent acquisition of Core Informatics (US) in March 2017. This acquisition is expected to provide Thermo Fisher an edge over the other leading players as it will become the only company to offer dedicated SaaS based solutions. Also, Thermo Fisher will be able to offer other lab informatics solutions such as LIMS, ELN, and SDMS solutions to its existing user base; thus strengthening their market presence.

LabVantage Solutions was the second-largest player in the laboratory informatics market 2016. The company has a strong portfolio of informatics products and solutions. To maintain its strong position in the market, the company focuses on organic strategies. Some of the recent launches by the company include LabVantage 8.2 (March 2017); LabVantage 8 Pharma (January 2017), and LabVantage 8 (February 2016). Apart from new product launches, LabVantage focuses on adopting inorganic growth strategy such as partnerships. For instance in August 2016, LabVantage Solutions, Inc. (US) entered into a partnership with Lonza AG (Switzerland) to offer purpose-built environmental monitoring capabilities integrated with LIMS for Life Science industry.

Related Reports:

Laboratory Informatics Market by Solution (CDS, ELN, EDC, LES, ECM, LIMS, SDMS), Component (Software, Services), Delivery (On-Premise, Cloud, Hosted), Industry (CRO, CMO, Pharmaceutical, Biotechnology, Chemical, Agriculture, Oil) - Global Forecast to 2022

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Report Code
HIT 4484
Published ON
Aug, 2017
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