Overview

Electronic Lab Notebook Market is poised to value USD 735.48 million by 2028 end at a CAGR of 7.1% during the forecast period 2022 to 2028.

Electronic lab notebooks are used for recording data, systematically documenting lab results that can be incorporated with lab automation. Rising demand for lab automation, increased expenditure for research and development activities, advancements in technology, rising emphasis for abiding stringent regulations are some key factors contributing to the growth of the market.

Laboratories are expected to generate faster outcomes with least errors, which mounts unsurmountable pressure on lab workers. But with the introduction of lab automation has expanded the capabilities of these labs resulting in an efficient workflow. With increased automation, it becomes necessary to manage the rising data volume. Furthermore, there is an additional pressure over labs for abiding the strict regulations and keeping the lab infrastructure as updated as possible which is likely to restrain the electronic lab notebook market growth.

The ELN manufacturers are emphasizing on offering cloud and web based electronic lab notebook solutions, providing multi-disciplinary ELNs with enhanced integration capabilities. Furthermore, there has been a significant rise in the acceptance of cloud-based and web- based solutions for real-time analysis, cost effectiveness, software and system integration, ease of data access, internal and external sharing. Moreover, rising dependence on cloud-based platforms and accessibility to cloud informatics, rising necessity for reducing cost, improvements in the efficiency and speed of workflow, maximizing relevant business intelligence that has opened new growth opportunities for market growth.

Market Segmentation:

By Product
•   Cross Disciplinary ELN
•   Specific ELN
By License Type
•   Open Source ELNs
•   Proprietary Licensed ELNs
By Delivery Mode
•   Web Based ELN
•   Cloud Based ELN
By End User
•   Pharmaceutical and Biotechnology Companies
•   Academic and Research Institutes
•   Contract Research Organizations
•   Food and Beverage Companies
By Region
•   North America
•   Europe
•   Asia-Pacific
•   Latin America
•   Middle East and Africa

The market is fragmented into product, license type, delivery mode, end user and region. The product segment is classified into cross disciplinary ELN and specific ELN. The cross disciplinary ELN segment is predicted to hold the largest electronic lab notebook market share as they are widely accepted and are implemented across a range of applications. Furthermore, these ELNs aid in reducing IT overhead costs, standardization of data, storage security of the IP of an organization and improvements in the management of workflow.
The license type segment is bifurcated into open source ELNs and proprietary licensed ELNs. Although open source ELNs are garnering more interests, the proprietary license is predicted to dominate the market during the forecast period due to its benefits like software ownership, efficient and fast support and most importantly, the capability of customization. The delivery mode segment is classified into web based and cloud based ELNs and on-site ELNs. The end user segment is fragmented into pharmaceutical companies, biotechnology companies, CROs and CMOs, food and beverage companies and academic research institutes. The pharmaceutical companies are expected to lead the market during the forecast period owing to rise in the number of research and development activities and increased necessity for improving the productivity of labs.

Regional Analysis:

The North America region is predicted to lead the market owing to the advancements in automation technology, rise in the number of laboratories and CROs in the region. The Asia Pacific region, on the other hand, is expected to grow at a faster rate during the forecast period owing to a rising emphasis of the government on laboratory infrastructure and digitization, escalating life science industry, growing awareness and availability of lab solutions. Furthermore, increased usage of automation for research purposes, cost effective operations along with an enhanced purchasing power. China is amongst the forerunners in the integration of ELN owing to rising economic expansion and urbanization, rise in the number of initiatives undertaken by government organizations.

Competitive Landscape:

Some of the key market players 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., Waters Corporation.

FutureWise Key Takeaways:

• Growth prospects
• SWOT analysis
• Key market trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global electronic lab notebook market by product, by license type, by delivery mode, by end user and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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