Electronic Lab Notebook Market
Number of pages: 100 | Report Format: PDF | Published date: April 11, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 636.85 million |
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Revenue Forecast in 2031 |
US$ 954.60 million |
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CAGR |
4.6% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Technology, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global electronic lab notebook market was valued at US$ 636.85 million in 2022 and is expected to register a revenue CAGR of 4.6% to reach US$ 954.60 million by 2031.
Electronic Lab Notebook Market Fundamentals
An Electronic Lab Notebook (ELN) is a software instrument that virtually replicates the conventional paper lab notebooks used in science to document experimental findings. It enables scientists to observe, look for, and exchange experiment findings. Researchers can use an ELN to record procedures, lab activity, observations, notes, and other data in digitized form and from various devices. ELNs have several benefits over conventional paper journals, including data protection, monitoring, and teamwork, and they enable good research data management practices.
Despite society's expanding digital nature, some areas of study remain securely entrenched in the past, such as the laboratory journal, the last surviving paper component of an experiment. Countless electronic laboratory notebooks (ELNs) have been developed to digitize laboratory record-keeping processes. Still, none have emerged as a "key player" in the ELN market, owing to the numerous adoption barriers identified in previous research and further explored in the user studies presented here. The major issues noted are available ELNs' cost, the convenience of use (or absence thereof), and accessibility problems across various devices and operating systems.
ELNs are classified into two types: unique ELNs" have characteristics intended to operate with unique applications, scientific instruments, or data categories. "Cross-disciplinary ELNs" or "Generic ELNs" are intended to facilitate entry to all data and information required in a lab journal. Solutions vary from ELN-specific programs built from the ground up to changes or direct use of more general programs. Using more general software as an ELN includes using OpenWetWare, a MediaWiki setup (the same software that Wikipedia uses), or general note-keeping software such as OneNote. ELNs appear in a variety of shapes and sizes. They can be standalone apps, client-server applications, or completely web-based. Some people use a lab-notebook approach, and others resemble a blog.
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Electronic Lab Notebook Market Dynamics
A rise in laboratory automation demand is expected to drive ELN adoption. The main reasons for pushing development include process optimization, better regulation compliance, reduced labor costs, improved data quality, and faster delivery. Furthermore, the growing use of bots and process automation in healthcare has resulted in reproducible and repetitive operations. Setting up, running, and analyzing experimental findings in significantly less time is now feasible. The increasing use of high throughput systems has allowed efficient assessment of experimental findings, which improves laboratory operations overall. The ELN is a user-friendly interface that provides search capability for data retrieval and inventory browsing connected to lab notes.
With its complex iterative processes and methods, manufacturing necessitates strict systems that allow cooperation. With little interruption, these systems must be strong, steady, repeatable, and dependable. The focus is increasing the speed with which services or goods are delivered and supporting regulatory inspection. Because most industrial processes are process-driven, they are simple to re-engineer. Virtual and electronic laboratories are needed for life sciences businesses to develop innovative products, increase quality and operational efficiency. The reasons above are expected to drive the market revenue during the forecast period.
In recent years, researchers in the life sciences company have been progressively utilizing ELNs. The business studies various fields, including chemicals, pharmaceuticals, and others. Growing concerns about reproducibility problems, combined with an increase in the number of instances of research misconduct, have led to the importance of document security. Furthermore, the rising regulatory strain on data security has boosted the demand for ELNs in the life sciences sector. Arxspan LLC, for instance, provides 'ArxLab,' a computerized lab notebook with preset biology apps. It is built on a cloud-based framework and helps to simplify processes, improve productivity, secure, confidential intellectual property, and comply with standard regulations.
Electronic Lab Notebook Market Ecosystem
The global electronic lab notebook market is analyzed from four perspectives: product, technology, end-user, and region.
Electronic Lab Notebook Market by Product
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The global electronic lab notebook market is segmented based on the product into cross-disciplinary ELN and specific ELN.
During the forecast period, the cross-disciplinary ELN segment is expected to account for the largest market revenue share. This segment's large market share is ascribed to R&D labs choosing flexible generic ELNs over specific ELNs because their research does not rigorously classify into a single category. Cross-disciplinary ELN is in high demand because it meets various scientific requirements, is simple to use, and caters to numerous disciplines.
Electronic Lab Notebook Market by Technology
The global electronic lab notebook market is segmented based on technology into proprietary ELN and open-source ELN.
During the forecast period, the proprietary ELN segment will account for the largest electronic lab notebook market revenue share. The large market share of this category can be attributed to the fastest service/support, improved security and dependability, frequent availability of new goods and updates, and improved usefulness.
Electronic Lab Notebook Market by End User
The global electronic lab notebook market is segmented based on end-user into pharmaceutical companies, biotechnology companies, contract research organizations (CROS), academic research institutes, and others.
Pharmaceutical companies are expected to account for the largest electronic lab notebook market revenue share. This segment's large market revenue share is attributed to increasing governmental demands on pharmaceutical firms to keep data integrity, validity, and security. Furthermore, rising R&D activities and the growing need to improve laboratory output and cost-effectiveness motivate pharmaceutical companies to engage in ELN solutions.
Due to the increasing tendency of outsourcing, the CROs segment is expected to exhibit profitable revenue expansion during the forecast period. The increasing usage of ELN by outsourcing businesses to reduce healthcare costs contributes to the profitable development of CROs and BPO sectors. These provide additional advantages such as effective data input, decreased time, and quicker delivery. It is also used in investigative science, the food and beverage business, and other pharma labs. The rising need to reduce operational expenses, combined with the advantages of using electronic lab notebooks, are key factors expected to add to the development of this segment, driving the segment's revenue share.
Electronic Lab Notebook Market by Region
The global electronic lab notebook market is segmented based on region into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America will likely dominate the global market with the largest revenue share during the forecast period. North America's technologically advanced infrastructure and policies encouraging the use of ELN in labs are driving up demand for the region's electronic lab notebook market. Furthermore, the trend of various stakeholders is fueling the development of good laboratory practices in pharmaceutical sectors and life science. The rapid digitization of records and intensive ICT study for the scientific community has boosted the possibilities of the North American electronic lab notebook industry. Significant industry players such as Abbott Informatics Corporation, AgileBio, and others are crucial in driving the electronic lab notebook (ELN) market in the United States. AGiloBio's Lab Collector tool manages lab data and improves file organization. Such factors fuel the development of the electronic lab notebook (ELN) industry in the United States.
Europe is expected to show lucrative revenue growth during the forecast period. Moreover, France is seeing a rise in ELN solution providers as the country prioritizes lab digitalization. Many laboratories in the business, including scholarly and scientific research, life sciences, and others, have moved their paperwork to the electronic lab notebook. (ELN). Electronic lab notebook solutions allow better reproducibility and increased output, which academic and business groups recognize. In addition, as the country's healthcare sector expands, businesses are constantly implementing lab automation solutions. As a result of these variables, the market for electronic lab notebooks in the nation will see numerous opportunities.
Asia Pacific has proven to be a competitive industry. The regional revenue is driven by researchers' growing emphasis on complying with shifting regulatory standards at the regional level. The growing number of translational research initiatives in the pharmaceutical business significantly expands the potential for new opportunities in the Asia Pacific electronic lab notebook market. Furthermore, Electronic labs notebook markets providers such as SunBio IT Solutions Pvt. Ltd., TAS India Pvt Ltd., and others are concentrating on expanding their business prospects as the availability and knowledge of laboratory solutions grow. Furthermore, an increasing number of clinical trials is expected to fuel the development of the Indian electronic lab notebook (ELN) market. All these reasons contribute to the country's rising desire for electronic lab notebooks (ELN).
Competitive Landscape of the Global Electronic Lab Notebook Market
The market is highly competitive, with numerous big and small competitors. The prominent players continuously engage in strategic endeavors such as new product launches, technical advancements, and mergers and acquisitions to acquire a larger market share. Companies created technologically advanced platforms, such as cloud-based ELN with SaaS, improved goods with greater usefulness to obtain an advantage over rivals.
The prominent market players operating in the global electronic lab notebook market include:
Strategic Development in the Electronic Lab Notebook Market
An Electronic Lab Notebook (ELN) is a software instrument that virtually replicates the conventional paper lab notebooks used in science to document experimental findings. It enables scientists to observe, look for, and exchange experiment findings. Researchers can use an ELN to record procedures, lab activity, observations, notes, and other data in digitized form and from various devices.
The proprietary ELN segment led the global electronic lab notebook market.
The expected size of the global electronic lab notebook market in 2031 is 954.60 million.
The expected revenue CAGR of the global electronic lab notebook market during the forecast period will be 4.6%.
Some prominent market players operating in the global electronic lab notebook market include LabWare, Core Informatics, Agilent Technologies, and others.
*Insights on financial performance are subject to the availability of information in the public domain