The European laboratory informatics market is expected to reach $1,084.3 million by 2024, growing at a CAGR of 6.4% during the forecast period of 2018 to 2024. The life science industry and other research and industrial laboratories across European region are increasingly modernizing their approach and using laboratory informatics solutions for capturing, tracking, managing, and sharing their research and manufacturing data. Moreover, scientific advances in the fields of genomics, proteomics, and personalized medicine exponentially increase the need for efficient data management. Laboratory informatics solutions are helping researchers and scientists seamlessly gather, store, retrieve, monitor, search, share, report and collaborate their work, thereby saving time and simplifying work procedures.
Growing R&D activities and government initiatives across European region
R&D is crucial for drug discovery and development. This in turn, boosts the demand for efficient lab and data management. Growing number of organizations involved in R&D are shifting from traditional old systems to digital laboratory solutions. Laboratory informatics solutions allow researchers to capture the experiment process, relevant data, and conclusions that were drawn, while simultaneously facilitating a searchable repository of experimental data that researchers can access for effective collaboration. In European region, Germany accounted for the largest share of 26.0% of the total R&D spending in 2016 in Europe as stated by R&D Magazine, 2017. According to UNESCO Institute for Statistics, Germany is among the top 10 countries, accounting for 80% of global spending on R&D. Germany spends 2.9% of GDP on R&D and have pledged to substantially increase public & private R&D spending as well as number of researchers by 2030, as part of the Sustainable Development Goals (SDGs).
The European Commission’s new framework, Horizon 2020 is the largest ever research and innovation programme in Europe for various fields including life sciences with a budget of $95 billion (€77 billion) from 2014-2020. In October 2017, The European Commission announced its plans to invest $37 billion (€30 billion) of this fund during 2018-2020 including $2.5 billion (€2 billion) to support Open Science, and $740 million (€600 million) for the European Open Science Cloud, European data infrastructure and high-performance computing. Horizon 2020 opened funding opportunities for future and emerging technologies and ICT Work Programme for life science researchers. Thus, increasing R&D activities and government funding will ultimately boost the demand for effective data management and hence drive the laboratory informatics market in Europe.
Click here to: Get Free Request Sample Copy of this report
Strategic Developments by the key players likely to boost the market growth in European region
The major players operating in the laboratory informatics market are focusing on organic and inorganic growth strategies to leverage growth opportunities in European laboratory informatics market. For instance, in June 2017, Dassault Systemes, SE conducted 2017 European BIOVIA Forum in London, U.K. to discuss benefits of implementing laboratory informatics, new capabilities & product releases, integration, and cloud and hybrid deployments. In November 2016, Autoscribe Informatics opened a new office in the U.K. Further, in July 2016, Autoscribe Informatics appointed Ritme as its distributor for the Matrix Gemini LIMS in France, Italy and Switzerland to expand its penetration into European laboratory informatics market. In March 2015, IDBS (acquired by Danaher Group) expanded its European footprint with the launch of a full-service office in Paris, France.
Key Findings in the European Laboratory Informatics Market Study:
Laboratory Information Management System (LIMS) to witness the fastest growth during the forecast period
LIMS solutions are widely adopted as they meet broad range of scientific needs with their ability to provide a suitable environment that is easy to use across multiple disciplines. Moreover, LIMS help laboratories to reduce manual efforts, labor cost, cost of error, and throughput time; offer paperless information management and effective data analytics; improve data traceability, accessibility, security and sharing; streamline processes; enhance quality management; abide by the regulatory requirements; and provide better control of all business processes and decision support. Such factors contribute to the largest share and fastest growth of LIMS market during the forecast period.
On-premise informatics currently dominates the market; however, web & cloud-based solutions are rapidly gaining traction
On-premise informatics dominates the market as it has been traditionally adopted mode of software delivery, and provides better customization options, total ownership and authority, and security. However, cloud-based informatics segment is expected to witness the highest CAGR during the forecast period owing to factors such as no upfront capital investment for hardware, extreme storage flexibility and scalability, real-time accessibility from anywhere, and pay-as-you-go pricing features.
Click here to: Get Free Request Sample Copy of this report
Services to continue dominate the European laboratory informatics market
Based on components, the European laboratory informatics market study covers services as well as software. Services accounted major share in 2017 and are also expected to dominate the market during the forecast period due to growing demand for cloud services and increasing laboratory automation subsequently driving the demand for laboratory informatics services such as implementation, validation, integration, maintenance, training and support.
Life Sciences industry is the leading adopter of laboratory informatics in Europe
Life sciences industry is expected to continue dominate the European laboratory informatics market during the forecast period. The high growth of this end-user segment is mainly attributed to growing R&D activities and outsourcing to CROs, presence of strict regulatory guidelines, growing academic research, increasing biobanks and biorepositories, replacement of old legacy systems with advanced informatics solutions, growing automation and rising need to integrate laboratory systems.
Germany comprises the largest share in European laboratory informatics market
This research report analyzes the European market including Germany, U.K., France, Italy, Spain, Benelux, Nordics and Rest of Europe (RoE). Germany majorly dominates the European laboratory informatics market owing to the advanced laboratory infrastructure, growing demand for integration of laboratory systems, growing digitalization, rising government funding for research activities, easy availability of laboratory informatics products and services, and stringent regulatory requirements across industries. Laboratory infrastructure and automation in the country is changing the workflow of laboratories and it is helping to penetrate technologies and workflows in research & development labs, food & beverage industries, CROs & CMOs, and various other sectors.
European Laboratory Informatics Market Key players
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 4 years (2015-2018). The major players profiled in the European laboratory informatics market are Abbott Informatics, Agilent Technologies, Inc., Autoscribe Informatics, Bio-ITech BV (eLabJournal), Biomed Systems Limited, Broughton Software Limited, Bytewize AB, Dassault Systemes SE, GenoLogics, Inc. (Illumina, Inc.), Lablynx, Inc., LabVantage Solutions, Inc., LabWare Inc, Novatek International, PerkinElmer, Inc., RURO, Inc., Thermo Fisher Scientific Inc., and Waters Corporation.
Scope of European Laboratory Informatics Market report
Market by Product:
- Laboratory Information Management System (LIMS)
- Electronic Lab Notebook (ELN)
- Chromatography Data Systems (CDS)
- Electronic Data Capture (EDC) & Clinical Data Management System (CDMS)
- Laboratory Execution System (LES)
- Enterprise Content Management (ECM)
- Scientific Data Management System (SDMS)
Market by Mode of Delivery:
- On-premise solutions
- Cloud-based solutions
- Web-based solutions
Market by Component:
Market by End User:
- Life Sciences Industry
- Pharmaceutical and Biotechnology Companies
- Biobanks & Biorepositories
- Academic Research Institutes and Contract Research Organizations (CROs)
- Molecular Diagnostics & Clinical Research Labs
- Chemical Testing Laboratories
- Food & Beverage and Agriculture Industries
- Petrochemical and Oil & Gas Industries
- Others
Market by Geography:
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Benelux
- Nordics
- Rest of Europe
Key questions answered in the report
Growing laboratory information management solutions (LIMS) and chromatography data systems (CDS) helps to drive the adoption of informatics solutions in europian laboratory informatics market.
- How does the penetration of informatics solutions in the life sciences industry and food & beverage and agriculture industry differ from other end users?
- What impact does this have on the adoption of informatics solutions in comparison to other niche applications and end-users?
- Which are the high growth market segments in terms of product, mode of delivery, component, end-user, and regions/countries?
Service segment account for a relatively large proportion of laboratory informatics solutions globally
- What factors contribute to the frequent usage of services in the life sciences industry?
- Conversely, which geographic segment is expected to experience the fastest growth of europian laboratory information management solutions?
Recent partnerships, acquisitions, approvals, and expansions have taken place in the europian laboratory informatics market
- What companies have recently merged/acquired and how will these unions affect the competitive landscape of the laboratory informatics space?
- What companies have created partnerships and how will these partnerships promote a competitive advantage?
- Who are the major players in the laboratory informatics market and what share of the market do they hold?
- Who are the local emerging players in the laboratory informatics market and how do they compete with the global players?
