The global laboratory informatics market was valued at $4,341.2 million in 2021 and is anticipated to reach $12,677.0 million by 2032, witnessing a CAGR of 10.27% during the forecast period 2022-2032. The growth in the global laboratory informatics market is expected to be driven by the increased efficiency of laboratories due to their usage and better data management. Additionally, it saves time and money.

Market Lifecycle Stage

Laboratory informatics plays an essential role in laboratories fulfilling quality standards, eliminating transcribing mistakes, shortening the time it takes from specimen receipt to results reporting, and improving patient outcomes.

Over the last decade, technical developments in laboratory equipment have resulted in increasing specimen numbers, as well as a growing need for and dependence on laboratory data to support clinical and public health demands. These advancements indicated that paper-based record keeping and results reporting were impractical and could not serve the laboratory’s commercial demands.

As a result, there has been a significant increase in the need for laboratory informatics adoption at all levels. This expanded usage of laboratory informatics has enabled end customers to describe particular system requirements, prompting suppliers to design more appealing and practical products and feasible laboratory informatics choices.

Impact

• The presence of major instrument providers of laboratory informatics has a major impact on the market. For instance, in June 2020, Agilent Technologies, Inc. and Thermo Fisher Scientific Inc.’s expanded multivendor control approach to laboratory informatics enables clients to pick the finest hardware and software for their needs.

This execution of its mutual compatibility principle would allow customers of Agilent Technologies and Thermo Fisher Scientific to select a chromatography data system from either company Agilent OpenLab CDS or Thermo Fisher Chromeleon to manage analytical instruments from both companies.

• Companies such as IDBS (Danaher.) partnered with Synthace in December 2021 in order to provide IDBS Polar users with cutting-edge data infrastructure for high-throughput process development (HTPD) studies.

Synthace’s cloud-based automation platform works in tandem with Polar’s HTPD to accelerate bioprocess development by enabling better decision-making through more reliable data sets, comprehensive data analysis, and modern enterprise data management, allowing the team to adopt a faster throughput approach and significantly reduce timelines. This combined solution allows users to scale safely to hundreds of automated, parallelized experiments per month.

Impact of COVID-19

During the COVID-19 pandemic, the development of laboratory software and technologies really took off as people were working remotely, and thus digital solutions became a requirement for a productive laboratory. Also, increased laboratory demands for testing, genomics, drug development, and vaccinations also meant they had to become more efficient and provide faster, quicker, and more efficient results.

In addition to this, these demands had to be fulfilled with laboratory space restrictions and demanding timelines. Thus, scaling up testing and research could only be solved by using laboratory informatics tools like LIMS and ELN. These tools helped scientists collaborate and work better even in a reduced-capacity working environment.

Many laboratory informatics manufacturers fastened their implementation process to help laboratories better fight the coronavirus. For example, CloudLIMS helped multiple labs set up within less than a week by implementing FDA-approved and preconfigured workflows.

The key challenges faced by laboratories testing COVID-19 included rapid configuration of FDA-approved workflows, standardization, and validation of new COVID-19 testing methods, reporting results according to FDA and CDC guidelines, and following the internal regulatory CLIA ISO and HIPAA guidelines.

Market Segmentation:

Segmentation 1: by Type

• 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)
• Scientific Data Management Systems (SDMS)
• Quality Management Systems (QMS)

Based on type, the global laboratory informatics market is expected to be dominated by laboratory information management systems (LIMS). This is due to the high number of applications performed by LIMS and its ease of integration with other systems.

Segmentation 2: by Offering

• Platform
• Standalone
• Add-On

Based on offering, the global laboratory informatics market is dominated by standalone systems. However, platform is the fastest growing segment. This is because laboratories are realizing the need for more than one laboratory informatics system type, which is easier to integrate with platforms.

Segmentation 3: by Component

• Software
• Consulting Service

Based on component, the global laboratory informatics market is expected to be dominated by software. This is due to the higher number of software companies than consulting ones.

Segmentation 4: by Deployment

• On-Premises
• Cloud-Based
o SaaS
• Remotely Hosted

Based on deployment, the global laboratory informatics market is dominated by the cloud-based segment. The growth of the cloud-based segment is primarily attributed to its low cost and improving privacy concerns.

Segmentation 5: by End User

• Pharma and Biotechnology
• Biobanks and Biorepositories
• Molecular Diagnostics and Clinical Research Labs
• Contract Research Organizations (CROs)
• Academia
• Food and Beverage
• Chemical Industry
• Petrochemical Refinery and Oil and Gas Industry

Based on end user, the global laboratory informatics market was dominated by pharma and biotechnology. The growth of this segment is primarily attributed to the high use of laboratories in these fields. Additionally, with many software specifically designed to be used by this end user, their use is growing significantly.

Segmentation 6: by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Rest-of-the-World

North America dominated the global market with a revenue of $1,773.5 in 2021. However, the Asia-Pacific region, constituting several emerging economies, is expected to register the highest CAGR of 11.55% during the forecast period 2022-2032.

Recent Developments in the Global Laboratory Informatics Market

• In February 2022, Agilent Technologies, Inc. acquired advanced artificial intelligence (AI) technology developed by Virtual Control. With this acquisition, the company incorporated ACIES software into the industry’s premier gas chromatography and mass spectrometry (GS/MS) platform, which boosted productivity, efficiency, and throughput in laboratories worldwide.

• In October 2021, PerkinElmer, Inc. introduced Signals Research Suite, a complete cloud-based solution hosted on Amazon Web Services. The suite is a secure informatics platform that provides pharmaceutical and industrial companies with comprehensive, end-to-end scientific data and workflow management.

• In July 2021, Abbott’s STARLIMS Corporation upgraded to Technology Platform v12.2. Functionality and upgrades have been improved, and all of the features from prior versions of ELN are available in HTML5: Standard Operating Procedures (SOP) document viewer. The new HTML5 design enhanced start-up efficiency, integration, and usability.

• In August 2020, Thermo Fisher Scientific expanded SampleManager LIMS software deployment model choices which enabled laboratories with end-to-end support for software deployment in the Amazon Web Services (AWS) cloud. The customers of LIMS software can use the system’s enhanced functionality and integration capabilities without investing considerable resources in the setup and continuing administration of a cloud environment.

Demand – Drivers and Limitations

Following are the demand drivers for the global laboratory informatics market:

• Reduced Human Error and Increased Efficiency
• Time Savings and Increased Revenue
• Increasing Implementation of Laboratory Informatics in All Industries

The market is expected to face some limitations too due to the following challenges:

• Slow Speed of Implementation
• Trained Professionals Needed
• Data Migration Highly Error-Prone and Time Consuming

How can this report add value to an organization?

Product/Innovation Strategy: The report considers both software and services-based companies. The industry is seeing constant development and product launches with new and innovative upgrades. Additionally, emerging technologies like AI and ML are also expected to be integrated into laboratory informatics systems soon, which is expected to further boost the market growth.

Growth/Marketing Strategy: The key components in laboratory informatics are the software and consulting services. The cost of software depends on the number of integrations you want the software with. However, the consulting charges usually surpass the cost of instruments, and consulting services are necessary to ensure the purchase of the right type of instruments and their correct integration and placements.

Competitive Strategy: The key players in the global laboratory informatics market have been analyzed and profiled in the study, consisting of both software-based and service-based companies, as well as a few emerging companies.

Moreover, a detailed competitive benchmarking of the players operating in the global laboratory informatics market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts, analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:

Company Type 1: Public Companies

• Agilent Technologies, Inc.
• Abbott. (STARLIMS Corporation.)
• BD.
• Bio-Rad Laboratories, Inc.
• Dassault Systèmes (Biovia)
• Danaher. (IDBS)
• Illumina, Inc.
• Merck KGaA
• PerkinElmer, Inc.
• Thermo Fisher Scientific Inc.
• Waters.

Company Type 2: Private Companies

• Accelerated Technology Laboratories, Inc.
• CSols Inc.
• LabVantage Solutions Inc.
• LabWare
• MGI Tech Co., Ltd.
• Benchling.
• LabLynx, Inc.

The post Laboratory Informatics Market – A Global Market and Regional Analysis: Focus on Type, Offering, Component, Deployment, End User, and Region Analysis – Analysis and Forecast, 2022-2032 first appeared on CRI Report.

Market Segmentation

• Product Type (Platforms and Devices)
• Application (Stress, Anxiety, Depression, Bipolar Disorder, Schizophrenia, and Others)
• Therapy (Cognitive Behavior Therapy, Electrotherapy, and Others)
• End Users (Patients, Providers, Employers, and Others)

Regional Segmentation

• North America – U.S., and Canada
• Europe – Germany, U.K., France, Italy, Spain, Rest-of-Europe
• Asia-Pacific – China, Japan, India, Australia, South Korea, and Rest-of-Asia-Pacific
• Rest-of-the-World

Growth Drivers

• Growing Demand for Teleconsultations in the Wake of COVID-19 Pandemic
• Increasing Funding Activity in Digital Mental Health Landscape
• Rising Adoption of Digital Mental Health Solutions in Emerging Economies
• Entry of Pharmaceutical Companies in Digital Mental Health Paradigm

Market Restraints

• Lack of Clinically Validated Scientific Data
• User Data Privacy Concerns

Market Opportunities

• Development of Portable Mental Health Devices
• Development of Novel Therapies for Mental Health Treatment
• Product Portfolio Expansion
o Technology Integrated Solutions for Severe Mental Health Illnesses
o Provider-Centric Mental Health Platforms
• Business Collaborations
o Partnership Between Non-Healthcare Companies and Mental Health Platform Developers
o Partnerships with Local Mental Health Facilities for Expansion in Non-English-Speaking Regions

Key Companies Profiled

AbleTo, Inc., Calm, Electromedical Products International, Inc., Flow Neuroscience AB, Ginger, HAPPIFY HEALTH, Headspace Inc., Lyra Health, Inc., Monsenso A/S, Neuronetics, Pear Therapeutics, Inc., Psious, Quartet Health, Talkspace, Teladoc Health, Inc., Woebot Health, and Ybrain, INC.

Key Questions Answered in this Report:

• How do attributes such as the prevalence of mental illnesses, physician density, and payment scenario impact the global emerging mental health devices and platforms market?
• What impact did the COVID-19 pandemic have on the adoption of mental health mobile applications?
• What were the key developments in the global emerging mental health devices and platforms market during the COVID-19 pandemic?
• What impact do the emerging mental health devices and platforms have on the industry ecosystem?
• What are the key technologies that received significant funding in 2020?
• Which key synergistic activity was majorly utilized by the companies in the global emerging mental health devices and platforms market?
• What are the pipeline products that are anticipated to be commercialized during the forecast period 2021-2030?
• What are the key business models employed by the companies operating in the market?
• What are the key driving and inhibiting factors in the global emerging mental health devices and platforms market? What will be their impact on the market during the forecast period 2021-2030?
• Which mental health application is anticipated to witness significant growth during the forecast period 2021-2030?
• Which mental health therapy held the largest share in the global emerging mental health devices and platforms market in 2020?
• Which region holds the highest growth potential in the global emerging mental health devices and platforms market during the forecast period 2021-2030?
• Who are the end users of the novel mental health solutions? Which end-user category holds the significant growth potential during the forecast period 2021-2030?

Key USPs of the Report

Following are some of the key contents of the report:

• Funding Scenario
This section encompasses a description of the current funding landscape in the global emerging mental health devices and platforms market for key players.

• Key Technology Trends
This section identifies key technology trends that would influence the market and their short-term, mid-term, and long-term growth potential.

• Pipeline Analysis
This section comprises information on the pipeline products that would impact the growth trajectory of the global emerging mental health devices and platforms market

• Impact of COVID-19
This section of the report encompasses the following:
o Impact on government initiatives and regulations
o Future impact (Short-, mid-, and long-term)
o Key developments during the COVID-19 pandemic
o Scenario comparison analysis

Also, the report provides:

• A detailed analysis and growth forecast (2021-2030) for different market segments
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth

Scope of the Global Emerging Mental Health Devices and Platforms Market

The purpose of the study is to enable the reader to gain a holistic view of the global emerging mental health devices and platforms market, by each of the segments mentioned above.

The report constitutes an in-depth analysis of the global emerging mental health devices and platforms market, including a thorough analysis of the applications. The study also provides market and business-related information on various products, applications, therapies, and end users. The report considers emerging mental health devices and mobile health platforms.

Key Companies in the Global Emerging Mental Health Devices and Platforms Market

Some of the key players contributing to the global emerging mental health devices and platforms market include AbleTo, Inc., Calm, Electromedical Products International, Inc., Flow Neuroscience AB, Ginger, HAPPIFY HEALTH, Headspace Inc., Lyra Health, Inc., Monsenso A/S, Neuronetics, Pear Therapeutics, Inc., Psious, Quartet Health, Talkspace, Teladoc Health, Inc., Woebot Health, and Ybrain, INC.

Healthcare Mobility Solutions market : Segmented by Products and Services (Mobile Devices, Mobile Applications, Enterprise Mobility Platforms); By Application (Enterprise Solutions, mHealth Applications); By End User (Healthcare Payers, Healthcare Providers, Patients) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030

The post Global Emerging Mental Health Devices and Platforms Market: Analysis and Forecast, 2021-2030 first appeared on CRI Report.