How will COVID-19 impact Laboratory Informatics Market

The
laboratory informatics market is diversified and highly competitive,
with a large number of players competing for market space. Thermo Fisher
Scientific Inc. (US), LabVantage Solutions, Inc. (US), LabWare (US),
Abbott Informatics (US), LabLynx, Inc. (US), Waters (US), Agilent
Technologies, Inc. (US), Autoscribe Informatics (US), Dassault Systèmes
(Paris, France), LABWORKS LLC (US), KineMatik (Ireland), Accelerated
Technology Laboratories (ATL) (US), and PerkinElmer Inc. (US) are some
of the key players in the market.

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This can be attributed
to factors such as growing R&D investments, growing awareness of lab
informatics solutions, increase in drug development-based research, and
rising pressure to comply with regulatory requirements. In addition to
this, the strategic expansion of key players to gain a competitive edge
in developing Asian economies further supports the growth of the Asian
market.

Geographically, the laboratory informatics market is segmented into
North America, Europe, Asia, and the Rest of the World (RoW). In 2018,
North America accounted for the largest market share, followed by
Europe.

The
LIMS segment accounted for the largest share of the laboratory
informatics market in 2018. The large share of this segment can be
attributed to the wide range of benefits associated with the use of
these systems, including increased workflow efficiencies, reduced
transcription errors, easy integration with other lab systems, and
better regulatory compliance.

The on-going COVID-19 pandemic—and the worldwide reaction to it—has
compelled companies to radically rethink their strategies and the way
they operate. We salute the industry experts helping companies survive
and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the laboratory informatics market. We are working diligently to help companies take rapid decisions by studying:

• The impact of COVID-19 on the laboratory informatics market,
including growth/decline in product type/use cases due to the cascaded
impact of COVID-19 on the extended ecosystem of the market
• The rapid shifts in the strategies of the Top 50 companies in the Laboratory Informatics Market
• The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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laboratory informatics market: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203037633


According to the recent report ” Laboratory Informatics Market by Type
of Solution (LIMS, ELN, ECM, SDMS), Component (Software, Service),
Deployment, Industry (Pharmaceutical, Biotechnology, Chemical,
Agriculture, Petrochemical, oil & gas) – Global Forecasts to 2024 “,
published by MarketsandMarkets™, the global is estimated to reach USD
3.8 billion by 2024 from USD 2.6 billion in 2019, at a CAGR of 7.5%
during the forecast period.

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The
laboratory informatics market has been segmented on the basis of type
of solution, component, deployment model, industry, and region. Based
on type of solution, the laboratory informatics market is segmented
into laboratory information management systems (LIMS), electronic lab
notebooks (ELN), chromatography data systems (CDS), electronic data
capture (EDC) & clinical data management systems (CDMS), laboratory
execution systems (LES), enterprise content management (ECM), and
scientific data management systems (SDMS).

These players have adopted
various growth strategies, such as partnerships, acquisitions,
agreements, and expansions as well as new product launches/upgrades, to
further expand their presence in the global market.