Press Release

China Laboratory Informatics Market to Experience a Substantial CAGR of Around 8.79% During 2024-30

The China Laboratory Informatics Market is projected to grow at a CAGR of 8.79% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. During the historical years, corporate companies across China were mainly focusing on technological advancement to reduce reliance on prototypes of international companies. Chinese companies are focusing on driving their technological methods to manufacture products, owing to which the R&D investment by these corporate companies has escalated substantially.

Also, these companies were receiving support from the government of the country during the historical years. The government has been offering several tax incentives and funding to corporate companies to support their research efforts. Hence, a large number of corporate companies, specifically those involved in the production of consumer electronics, and devices, were investing & working on research activities, and the demand for laboratory informatics solutions also amplified. These companies were adopting laboratory informatics solutions to simplify their data collection processes, and also to enhance workflow automation to reduce reliance on physical workforce.

Furthermore, in recent years, the food & beverage sectors have also expanded their R&D investment for the development of better food products in sustainable packaging. Moreover, in China, the number of startups offering convenience food products has been escalating in recent years, which were focusing on receiving funding for their R&D activities. Hence, as food & beverage manufacturing increases across the country, the demand for food testing laboratories would also grow. This is primarily because food products require proper composition and nutrient testing before the launch in the market.

Thus, as the burden on food testing laboratories grows, the demand for laboratory informatics solutions is predicted to increase in the coming years, further states the research report, “China Laboratory Informatics Market Analysis, 2024.”

China Laboratory Informatics Market Segmentation Analysis

Laboratory Information Management Systems (LIMS) to Dominate the China Laboratory Informatics Market

Based on the Product Type segment, the market is further bifurcated into Electronic Lab Notebooks (ELNs), Laboratory Information Management Systems (LIMS), Chromatography Data Systems (CDS), Electronic Data Capture (EDC), Enterprise Content Management Systems (ECM), and Others. Of these, LIMS solutions have been one of the majorly dominating software solutions in the market. It offers several benefits to the end users, such as workflow automation and sample management, which has further enhanced its adoption.

Besides, in recent times, it has been found that the agricultural research laboratories of China have been very prompt in adopting LIMS software, as that is considered to be of great use in shortening the time in data analysis & management of research processes. Moreover, huge investments in R&D for developing advanced fertilizer technology were also announced by the agricultural companies to improve production yield. Hence, with growing R&D activities in the agriculture sector, the adoption of LIMS solutions would also escalate.

Pharma and Biotechnology Companies to Experience Substantial Growth in the Market

Based on End Users, the market is further bifurcated into the Life Sciences Industry (Pharma & Biotechnology, Biobanks & Bio Repositories, Molecular Diagnostics & Clinical Research Labs, and Others), Chemical Industry, Food & Beverage, Agriculture, and Others. Of all, Pharma & Biotechnology companies under the life sciences industry segment are quite dominating end-user industries in the China Laboratory Informatics Market. This primarily occurred because biotech companies across the country have rather actively been investing in R&D activities, particularly those having to do with the genomics and proteomics sectors.

Genomics and proteomics research studies generate extensively large volumes of data that are often complex. Hence, Biotech labs have been actively undertaking the implementation of laboratory informatics solutions to collate & analyze effectively the genomic & proteomic data that is generated from the research processes.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including ThermoFisher Scientific Inc., LabVantage Solutions Inc., Dassault Systèmes, STARLIMS Corporation, Autoscribe Informatics Inc., Lablynx Inc., Waters Corporation, Zifo Technologies Pvt. Ltd., Caliber Technologies, Agilent Technologies, and Others re looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the China Laboratory Informatics Market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & software adoption?
5. How has the competition been shaping across various regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-2030?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?