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The North America laboratory informatics market size reached a value of nearly USD 1456.64 million in 2023. The market is projected to grow at a CAGR of 6.5% between 2024 and 2032 and reach around USD 2558.49 million by 2032.
Using laboratory informatics, laboratories leverage information technology to optimise their operations by automating workflows and managing samples. Additionally, they can produce reliable results quickly, and track data from sequencing runs over time to improve efficiency. In 2021, the biosciences sector in the United States accounted for USD 2.9 trillion.
One of the factors driving the North America laboratory informatics market growth is the growing demand for cloud-based laboratory informatics platforms. The IT sector is a major contributor to US GDP and in 2023, the sector accounted for USD 1.5 trillion. As a result, development and innovation in cloud-based LIMS are increasing. These systems can efficiently minimise data loss and downtime and ensure business continuity. Additionally, by facilitating remote collaboration among stakeholders, these systems enhance real-time decision-making.
Growing life sciences sector; increasing adoption of LIMS; growing trend of automation; and favourable government initiatives are aiding the North America laboratory informatics market growth
August 2023
STARLIMS Corporation expanded its solution suite by acquiring Labstep, a cutting-edge research and development Electronic Laboratory Notebook (ELN).
July 2023
Revvity Signals Software entered into a strategic relationship with Scitara, a global provider of cloud-based solutions for the scientific industry, to transform the working of R&D across the biotech, pharmaceutical, and chemical sectors.
June 2023
LabVantage Solutions formed a global cooperation agreement with Holo4Labs (H4L) to integrate H4L’s mixed reality technology with its LabVantage LIMS platform.
December 2022
LabVantage Solutions unveiled version 8.8 of its LabVantage LIMS platform, delivering a range of enhancements focused on accuracy, speed, usability, and security.
Downstream demand from the life sciences sector
Laboratory informatics provide information regarding the sample collected, including the date it was received and experimental data associated with it, boosting its deployment in the life sciences sector.
Increasing adoption of LIMS
There is a growing adoption of cloud-based laboratory informatic systems as they are cost-effective, provide automated backups, and ensure uninterrupted business operations by reducing downtime.
Growing demand for automation in laboratories
Laboratories in the United States and Canada are extensively incorporating strategies such as automation in pre- and post-analytic steps, like sorting, labelling, barcoding, decapping, aliquoting and recapping specimens.
Favourable government initiatives
Government institutions across the region are encouraging the adoption of advanced laboratory informatics in sectors like agriculture, life sciences, and medicine, among others.
Figure: Healthcare Spending by U.S. Government, 2018-2022
Laboratory technologies are often considered to be at the forefront of medical advancements. Reportedly, the number of diagnostic and medical laboratories in the U.S. exceeded 28,000 in 2021, and the sector has witnessed steady growth over the years. With the rapid influx of data and the increasing complexity of experiments, artificial intelligence (AI) and machine learning (ML) techniques are increasingly being employed to support analytics such as descriptive analytics, predictive analytics, and prescriptive analytics.
Furthermore, laboratories are increasingly adopting cloud and mobile technologies. The adoption of cloud lab informatics allows personnel to access data in real-time making it easy to make data-driven decisions quickly. Smart lab tools, such as informatics, support scientists in their work leading to the reduction in manual labour and further improving research efficiency, propelling the North America laboratory informatics market.
North America Laboratory Informatics Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
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Laboratory Information Management System (LIMS) is expected to dominate the North America laboratory informatics market share as it plays a crucial role in helping laboratories achieve regulatory compliance by monitoring and documenting activities related to compliance.
Modern laboratories are equipped with LIMS, enabling the automation of workflows. LIMS can also integrate instruments, and manage laboratory data and related information easily, quickly, and reliably.
The shortage of medical and clinical laboratory staff, including lab technologists and technicians in the United States, can be resolved by the wide introduction of LIMS due to the automation of services. This further helps in managing the operational costs of the laboratories.
With the rise in digital scientific data, funding agencies like the National Institutes of Health (NIH) of the United States have implemented research data management policies such as Data Management and Sharing policies supporting the adoption of ELNs. ELN, a digital replacement for the paper lab notebook is used to record, archive, share and protect data. The adoption of ELN improves data integrity and promotes collaboration across the organisation.
Key players in the North America laboratory informatics market are increasing their collaboration, partnership, and research and development activities to gain a competitive edge
STARLIMS Corporation
STARLIMS Corporation, headquartered in the United States and founded in 1986, offers Laboratory Information Management System (LIMS) for comprehensive product lifecycle management and Scientific Data Management System (SDMS).
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific Inc., headquartered in the United States and founded in 1962, offers Laboratory Information Management Systems (LIMS), Electronic Lab Notebook, Lab Execution System, and Data integration software.
Labware, Inc.
Labware, Inc., headquartered in the United States and founded in 1987, offers SAAS LIMS, Cloud-hosted LIMS, and Self-hosted LIMS.
LabVantage Solutions Inc.
LabVantage Solutions Inc., headquartered in the United States and founded in 1989, offers a Laboratory information management system (LIMS), embedded electronic laboratory notebook (ELN), laboratory execution system (LES), scientific data management system (SDMS), and advanced analytics solution.
Other key players in the North America laboratory informatics market include Agilent Technologies, Inc., Lablynx, Inc., Revvity Inc.
The United States of America is a prominent region due to its extensive number of laboratories. In the United States, more than 7 billion laboratory tests are performed each year. Furthermore, reportedly, about 70% of all medical decisions are based on laboratory test results in the United States. With the rising importance of accurate analysis, rapid influx of data, and the increasing complexity of experiments, the use of technologies such as artificial intelligence in the diagnostic and medical laboratories in the country is witnessing steady growth.
Reportedly, through the Laboratories Canada strategy launched in 2018, over CAD 146.6 million in investments have been made to date as part of its first phase of development from 2019-2023, focusing on renovating or replacing outdated federal laboratories and equipping federal scientists with modern facilities and tools. Laboratories across Canada are adopting LIMS software to aid in the effective and efficient management of workloads and to balance productivity with accuracy.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market value was nearly USD 1456.64 million.
The market is projected to grow at a CAGR of 6.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 2558.49 million by 2032.
The major drivers include downstream demand for laboratory informatics from the life sciences sector and favourable government initiatives promoting the automation of laboratory informatics.
The key trends of the market include the growing adoption of cloud-based laboratory informatic systems and the growing demand for automation in laboratories.
The different components of laboratory informatics include software and services.
The major end uses of laboratory informatics include life science, chemical and petrochemicals, oil and gas, and agriculture, among others.
The major players in the market include Dassault Systems, STARLIMS Corporation, Thermo Fisher Scientific Inc., Labware, Inc., LabVantage Solutions Inc., Agilent Technologies, Inc., Lablynx, Inc., and Revvity Inc.
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