The lab inventory management software global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Lab Inventory Management Software Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The lab inventory management software market size has grown rapidly in recent years. It will grow from $2.22 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 12%. The growth in the historic period can be attributed to growth in genomics and precision medicine, growth in the number of clinical trials, rise of biobanking, increasing awareness of digital inventory solutions, growing academia and research sector.
The lab inventory management software market size is expected to see rapid growth in the next few years. It will grow to $3.93 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The growth in the forecast period can be attributed to increasing research and development in life sciences, rising adoption of digital solutions, growing biopharma sector, growth in cloud adoption, high demand for software that meets GMP and other standards. Major trends in the forecast period include automation and AI integration, demand for accurate sample tracking, rapid evolution of features and tools in lab management software, IoT integration, demand for highly customizable software solutions.
Order your report now for swift delivery @
Scope Of Lab Inventory Management Software Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Lab Inventory Management Software Market Overview
Market Drivers –
The rising research and production activities in the pharmaceutical companies is expected to propel the growth of the lab inventory management software market going forward. Research and production involve investigating and developing knowledge or products to produce goods or services based on the research. Innovation in drugs and therapies, advancements in biotechnology, growing investment in research and development, and the need to address unmet medical needs drive the research and development in the pharma industry. Lab inventory management software is essential for research and production activities in the pharmaceutical industry. It ensures accurate tracking of critical supplies, reagents, and equipment, supports regulatory compliance with detailed audit trails, tracks expiration dates, and helps manage complex inventories to maintain productivity. For instance, in February 2024, according to a report published by the Office for National Statistics, a UK-based government department, the pharmaceuticals product group made the largest contribution to business R&D in the UK in 2022, accounting for $11.9 billion (£9.0 billion), which represented 17.9% of the total R&D performed by UK businesses. Therefore, the rising research and production activities in the pharmaceutical companies are driving the growth of the lab inventory management software market.
Market Trends –
Major companies operating in the lab inventory management software market are developing innovative technology, such as digital lab platforms, to enhance operational efficiency and streamline processes. A digital lab platform is a comprehensive software system that integrates various laboratory functions, such as data management, workflow automation, and analysis, into a unified digital environment for enhanced efficiency and accuracy. For instance, in April 2024, eLabNext, a Netherlands-based lab digitization company, launched the eLabNext Developer. The eLabNext Developer is a pioneering platform designed to democratize digital lab tool development, transforming the life sciences research and development landscape. It offers exceptional adaptability and future-proof capabilities, including integrating artificial intelligence (AI) and machine learning (ML) to enhance the eLabNext experience. As the first comprehensive and open developer environment in the Life Science R&D sector, it enables users to customize and extend eLabNext functionality to meet their specific needs. Additionally, it allows life sciences companies to integrate their products and services with digital labs through the development and commercialization of add-ons available in the eLabNext Marketplace.
The lab inventory management software market covered in this report is segmented –
1) By Type: Cloud-Based, Web-Based, On-Premise
2) By Pricing Model: Subscription, One-Time
3) By Application: Biotech, Drug, Testing, Research
4) By Industry: Pharmaceutical, Biotechnology, Chemicals, Manufacturing, Academia And Research, Other Industries
Get an inside scoop of the lab inventory management software market, Request now for Sample Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=19541&type=smp
Regional Insights –
North America was the largest region in the lab inventory management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the lab inventory management software market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Dassault Systèmes SE, Odoo SA, Benchling Inc., LabWare Inc., LabVantage Solutions Inc., Eppendorf SE, Dotmatics Ltd., Lablynx Inc., Titian Software Ltd., Quartzy Inc., Clustermarket Ltd., Labguru Healthcare Private Limited, LabCollector, CloudLIMS Lab Solutions Pvt. Ltd., SciNote Electronic Lab Notebook, Arxspan, LIMSABC, LabSuit Project Ltd., CrelioHealth Pvt. Ltd., eLabNext, Genemod
Table of Contents
- Executive Summary
- Lab Inventory Management Software Market Report Structure
- Lab Inventory Management Software Market Trends And Strategies
- Lab Inventory Management Software Market – Macro Economic Scenario
- Lab Inventory Management Software Market Size And Growth
…..
- Lab Inventory Management Software Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
Read Related Reports:
https://goodprnews.com/osteosynthesis-devices-market-analysis/
https://topprnews.com/pressure-ulcer-detection-device-market-size/
Learn About Us:
The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
