LONDON, Sept. 03, 2018 (GLOBE NEWSWIRE) -- According to this latest publication from Meticulous Research®, the global Electronic Lab Notebook (ELN) market is expected to grow at a CAGR of 6.8% from 2018 to reach USD 557.9 million by 2023, driven by growing automation in laboratories and shift from paper notebooks to digital data, technological advancements in laboratory solutions, and rising pressure for regulatory compliance.
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Cloud-based ELNs are rapidly gaining traction especially by the small and medium-sized application industries as there are no setup costs and ongoing maintenance costs; documents are easy to access from anywhere; and most leading players guarantee reliability. On the other hand, on-premise ELN offers full control over data security and privacy, and data can also be accessed offline. However, higher cost of deployment and maintenance, and need for robust internal IT staff for the reliability, speed, service performance, and software updates make this model preferred mainly by the large organizations with a big IT department. Owing to these reasons, web and cloud-based ELNs are expected to witness rapid surge in the demand in the coming years.
Pharmaceutical companies are currently the leading adopters of ELN owing to growing R&D spending, increasing need to improve laboratory productivity and cost efficiency, and comply by the strict regulatory requirements in this industry.
Based on license type, the ELN market study covers proprietary licensed ELNs and open source ELNs. There is increasing interest in open source ELNs; however, proprietary license comprised the major market share in 2017.
Geographically, the U.S. commanded the largest share mainly attributed to the advanced laboratory infrastructure, growing demand for integration of laboratory systems, growing digitalization, rising government funding for research activities, stringent regulatory requirements across industries, and presence of several key players in this region improving product availability.
The key players operating in the global ELN market are Abbott Informatics, 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 others.
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