Electronic Lab Notebook (ELN) Market Is Expected To Grow At CAGR Of 7.0% From 2019 To Reach $642.3 million By 2025: Meticulous Research
Meticulous Research- leading global market research company published a research report titled “Electronic Lab Notebook/ELN Market by Type (Specific, Enterprise), License (Proprietary, Open Source), Mode of Delivery (On Premise, Web, Cloud), & End User (Pharmaceutical, Biotech, CRO, CMO, Academia Research, F&B) – Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global electronic lab notebook market is expected to grow at a CAGR of 7.0% from 2019 to reach $642.3 million by 2025. The growth in electronic lab notebook market is mainly attributed to growing automation in laboratories and digitalization of laboratory data, increasing R&D activities, growing need for efficient data management in various application industries, technological advancements in laboratory solutions, and rising pressure for regulatory compliance. However, factors such as limited budgets, data integration and data privacy & security concerns- are likely to hinder the market growth. On the other hand, rapid shift towards cloud based ELN across the globe and rapid adoption of ELN by the emerging economies offer significant growth opportunities in this market.
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Key questions answered in the report-
Which are the high growth market segments in terms of product type, license type, mode of delivery, end user, and region/countries?
What was the historical market for electronic lab notebook across the globe?
What are the market forecasts and estimates for the period 2019–2025?
What are the major drivers, restraints, challenges, and opportunities in the global electronic lab notebook market?
Who are the major players in the global electronic lab notebook market?
How is the competitive landscape and who are the market leaders in the global electronic lab notebook market?
What are the recent developments in the global electronic lab notebook market?
What are the different strategies adopted by the major players in the global electronic lab notebook market?
What are the geographical trends and high growth regions/ countries?
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The global electronic lab notebook (ELN) market study presents historical market data in terms of values (2017 and 2018), estimated current data (2019), and forecasts for 2025-by product type (specific ELN, cross-disciplinary ELN), licensetype (proprietary, open source),mode of delivery(on-premises, web & cloud based), and end user (biotechnology industries, pharmaceutical industries, CROs, and CMOs, academic research institutes, food & beverage industries, and others). The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product type, cross-disciplinary or enterprise-wide ELNs are increasingly being 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, other benefits offered by the cross-disciplinary ELNs are reduced costs of IT overheads, ability to view data across an organization, data standardization, secure storage of an organization’s knowledge and IP in one central location, improved workflow management across disciplines, better collaboration across research areas, and exploitation of information for business decisions and strategic planning.
There is increasing interest in open source ELNs; however, proprietary license is expected to comprise the major market share of the overall ELN market in 2019 and is also expected to dominate the market during the forecast period, owing to its advantages such as ownership of the software, quick and efficient support, plethora of features, and ability to customize as per requirement.
In 2019, web and cloud based ELN market is estimated to hold a major share and is expected to grow at a lucrative rate for their real time data analysis, easy accessibility, reliability, flexibility, scalability, and cost-effectiveness. However, some big organizations are still implementing ELN on-premises due to concerns related to data confidentiality and security on remotely managed servers.
On the basis of end user, pharmaceutical companies are currently the major end users of electronic lab notebooks mainly due to growing regulatory pressures to maintain data integrity, validity and security. Moreover, increasing need to improve laboratory productivity and cost efficiency is driving pharmaceutical industries to invest in ELN solutions. However, biotechnology companies and CROs & CMOs are expected to be in spotlight during the forecast period.
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This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany, U.K., France, Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and Middle East & Africa.
North America region is estimated to command the largest share of the overall electronic lab notebook market in 2019, closely followed by the Europe, and Asia Pacific. However, Asia Pacific region is slated to register the fastest growth during the forecast period, primarily due to accelerated economic growth of many countries in this region, increasing government focus on digitization and laboratory infrastructure, growing life sciences industry and outsourcing to CROs in this region, and growing availability and awareness of laboratory informatics solutions in the region.
The key players operating in the global electronic lab notebook market are Abbott Informatics Corporation, Agilent Technologies, Inc., Arxspan, LLC, Benchling, Inc., Dassault Systemes SE, Bio-ITech BV (eLabJournal), ID Business Solutions (IDBS) Ltd (Danaher Corporation), Kinematic Inc., Lab-Ally LLC, LabArchives, LLC., Labfolder GmbH, Labii Inc., LabLynx, Inc., LABTrack, LLC, LabVantage Solutions, Inc., LabWare, Inc., Mestrelab Research, PerkinElmer, Inc., RURO, Inc., SciNote LLC, Seqome Limited, Thermo Fisher Scientific Inc., and Waters Corporation.
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