by An electronic lab notebook (ELN) is a software which is used by scientists in various industries like pharmaceutical, biotechnology, chemicals, food and beverage, academic research organizations etc to maintain records of their research electronically instead of paper. ELNs help store experimental process, protocols, results, data, and media files generated during research in a centralized and secured place which can be easily accessed. It also helps in maintaining intellectual property rights of research by handling permissions and controlling access to projects and data.
The global Electronic Lab Notebook Market is estimated to be valued at US$ 442.68 Mn in 2023 and is expected to exhibit a CAGR of 8.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing focus on data integrity and security in research is a major factor driving growth of the electronic lab notebook market. ELNs help maintain security of data by handling permissions and controlling access to sensitive data. It ensures data is not contaminated accidentally or deliberately altered by unauthorized modification which is a big advantage over paper notebooks. Furthermore, increasing adoption of technologies like artificial intelligence, cloud computing etc by research organizations is also supplementing the market growth. For instance, some ELN systems offer features like automated data extraction using AI which saves time. Cloud-based ELNs provide accessibility from anywhere. However, high costs associated with implementation and maintenance of ELNs may hamper market growth.
Segment Analysis
The electronic lab notebook market is segmented into on-premises and cloud-based segments. The cloud-based segment is dominating the market and is expected to witness high growth over the forecast period. This is attributed to enhanced scalability and flexibility offered by cloud-based solutions. Cloud-based electronic lab notebooks allow users to access data from any device with an internet connection. They do not require expensive servers or IT support teams.
Key Takeaways
Political: Government initiatives promoting research collaborations and open science are augmenting the adoption of electronic lab notebooks across many industries.
Economic: Growing R&D spending across industries like pharmaceuticals, biotechnology, and chemicals is propelling the demand for electronic solutions that enhance productivity and collaboration in labs.
Social: Increasing awareness among scientists about benefits of digitization and data security is driving preferences for electronic formats over traditional paper-based lab notebooks.
Technological: Advancements in cloud computing, mobility, and Internet of Things are enabling the development of more scalable and user-friendly electronic lab notebook solutions.
Key Takeaways
The Global Electronic Lab Notebook Market Size is expected to witness high growth, exhibiting CAGR of 8.5% over the forecast period, due to increasing digitization of research workflows across industries. North America is expected to continue dominating the market owing to presence of major players and increasing R&D investments by biotechnology and pharmaceutical companies in the region. Asia Pacific is anticipated to be the fastest growing region, driven by growing life sciences industry in countries like China and India.
Key players operating in the electronic lab notebooks market are DASSAULT SYSTEMES SA, Arxspan LLC., LabArchives, LLC, Abbott Informatics Corp., PerkinElmer, Inc., LabWare, Inc., Bruker Corporation, ID Business Solutions Ltd., and Kinematik US & Inc. Dassault Systemes and LabArchives captured the dominant market shares in 2022 due to their comprehensive solution portfolios and global presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
