Electronic Lab Notebook (ELN) Market Worth 557.9 Million USD By 2023

Meticulous Research® – leading global market research company published a research report titled “Electronic Lab Notebook Market (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) – Global Forecast to 2023“.

According to this latest publication from Meticulous Research®, the global electronic lab notebook market is expected to grow at a CAGR of 6.8% from 2018 to 2023 to reach USD 557.9 million by 2023, driven by the growing automation in laboratories and digitalization of laboratory data, increasing R&D activities, need for efficient data management in various application industries, technological advancements in laboratory solutions, and rising pressure for regulatory compliance. Moreover, the rapid shift towards cloud-based ELN offers significant growth opportunities for the market players during the forecast period. However, data integration and security concerns may hinder the market growth to some extent.

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The global electronic lab notebook market study presents historical market data in terms of values (2016 and 2017), estimated current data (2018), and forecasts for 2023-by Product Type (Specific ELN, Cross-disciplinary ELN), License Type (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.

Cross-disciplinary or enterprise-wide ELNs are increasingly being adopted as they meet a 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 include 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. Such factors contribute to the largest share and fastest growth of the cross-disciplinary ELNs market during the forecast period.

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There is increasing interest in open source ELNs; however, proprietary license comprised the major market share in 2017 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, a plethora of features, and ability to customize as per requirement.

In 2017, web and cloud-based ELN captured 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.

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 the spotlight during the forecast period.

This research report analyzes major geographies and provides a comprehensive analysis of 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 commanded the largest share of the global electronic lab notebook market in 2017, followed by Europe and Asia-Pacific. However, Asia-Pacific will be the fastest growing regional market due to the accelerated economic growth of many countries in this region, growing government focus on digitization and laboratory infrastructure, growing life sciences industry and outsourcing to CROs in this region, increasing laboratory automation, and growing availability and awareness of laboratory informatics solutions in the region.

The major players operating in 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 among several others.

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About Meticulous Research®

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