Redding, California, Aug. 24, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘North America Electronic Lab Notebooks Market by Product (Cross-disciplinary, Specific), Technology (Proprietary, Open-source), Channel (Web & Cloud-based, On-premise), End User (Pharmaceutical, Biotech, CROs, Academia/Research, F&B) - Forecast to 2030,' published by Meticulous Research®, the North America electronic lab notebooks market is projected to reach $372.7 million by 2030 at a CAGR of 6.8% from 2023 to 2030.
Electronic lab notebooks (ELNs) are laboratory management solutions designed to replace conventional (paper) lab notebooks. An ELN, in its most basic form, functions as a lab notebook. They provide benefits such as improved data management & security, auditing, results interpretation, and collaboration. There are two types of ELNs—cross-disciplinary or multi-disciplinary ELNs and specific ELNs. Scientists use cross-disciplinary ELNs when working in multiple disciplines or fields.
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Web & cloud-based electronic lab notebooks are flexible and highly scalable solutions for capturing, analyzing, managing, and sharing laboratory and research data. ELNs are adopted by pharmaceutical and biotechnology companies, academic/research institutes, contract research organizations, food & beverage companies, and forensic laboratories, among other end users.
The North America electronic lab notebooks market is driven by the increasing R&D activities in the life sciences industry, the growing use of automation in laboratories, technological advancements in laboratory informatics solutions, and the rising need to comply with regulatory frameworks. Furthermore, the growing scope of cloud-based ELNs and the integration of artificial intelligence are some of the factors expected to generate growth opportunities for the players operating in this market.
However, cost constraints, the reluctance to replace traditional lab notebooks with electronic lab notebooks, and data security & privacy concerns are expected to hamper the growth of this market.
Increased Demand for ELNs Among Pharmaceutical and Biotechnology Companies Due to the Growing Focus on Research & Development
Pharmaceutical and biotechnology companies constantly focus on research and development (R&D) as a core aspect of drug development. The pharmaceutical and biotechnology industries continue to grow due to increasing investments in R&D to cater to the growing need for new medical breakthroughs. Research & development are becoming increasingly important for drug approvals. For instance, the U.S. FDA’s Center for Drug Evaluation and Research (CDER) approved 50 novel drugs in 2021 and 37 in 2022. Of these 37 drugs, 20 were intended to treat rare or orphan diseases. Moreover, in 2022, CDER approved the 40th biosimilar product.
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Furthermore, the U.S. is home to top-ranking global pharmaceutical companies, such as Johnson & Johnson, Pfizer, AbbVie Inc., Merck, and Bristol Myers Squibb. These companies are increasing their R&D expenditures every year. For example, in 2021, Johnson & Johnson spent $14.7 billion on research and development, a 21% increase over 2020. Also, in 2021, AbbVie Inc. spent $7,084 million on research and development, a 13% increase over $6,557 million in 2020.
U.S. pharmaceutical companies’ increasing R&D expenditures are expected to drive the adoption of electronic lab notebooks, supporting market growth.
The report includes an extensive assessment of the North America electronic lab notebooks market based on product, technology, channel, end user, and geography. The study also evaluates the key growth strategies adopted by major market players in the last 3–4 years.
The key players operating in the North America electronic lab notebooks market are Abbott Laboratories (U.S.), Agilent Technologies, Inc. (U.S.), Arxspan, LLC (U.S.), Benchling, Inc. (U.S.), Eppendorf AG (Germany), Dassault Systemes SE (France), ID Business Solutions (IDBS) Ltd. (U.K.), KineMatik Inc. (U.S.), Lab-Ally, LLC (U.S.), Labforward GmbH (Germany), Labii Inc. (U.S.), LabArchives, LLC. (U.S.), LabLynx, Inc. (U.S.), LABTrack, LLC. (U.S.), LabWare, Inc. (U.S.), Mestrelab Research, S.L. (Spain), PerkinElmer, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Waters Corporation (U.S.), among others.
The North America electronic lab notebooks market is segmented based on product, technology, channel, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
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Based on product, the cross-disciplinary ELN segment is expected to account for the larger share of the North America electronic lab notebooks market in 2023. The large market share of this segment is attributed to the benefits of cross-disciplinary ELNs over specific ELNs, such as reduced IT overhead costs, improved workflow management across disciplines, and better collaboration capabilities across research areas.
Based on technology, the proprietary ELN segment is expected to account for the larger share of the North America electronic lab notebooks market in 2023. The large market share of this segment is attributed to the benefits of proprietary ELNs, such as better security, availability of all the desirable features, and quick and efficient software support.
Based on channel, the web & cloud-based ELN segment is expected to account for the larger share of the North America electronic lab notebooks market in 2023. The large market share of this segment is attributed to the advantages of web & cloud-based ELNs over on-premises ELNs, such as greater flexibility, easy data sharing, and real-time analysis.
Based on end user, the pharmaceutical companies segment is expected to account for the largest share of the North America electronic notebooks market in 2023.The large market share of this segment is attributed to the increasing adoption of laboratory informatics solutions in the pharmaceutical industry and the industry’s rapid digital transformation.
Based on geography, in 2023, the U.S. is expected to account for the larger share of the North America electronic lab notebooks market. The large market share of the U.S. is attributed to the country’s well-established economy and financial capability to adopt new & advanced technologies, strict government regulations that encourage laboratories across industries to deploy data management systems, high level of automation in laboratories, presence of leading ELN vendors, growing need for integration of laboratory systems, and rapidly growing adoption of cloud-based ELN solutions.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/north-america-electronic-lab-notebooks-market-5604
Scope of the Report:
North America Electronic Lab Notebooks Market Assessment– by Product
- Cross-disciplinary ELN
- Specific ELN
North America Electronic Lab Notebooks Market Assessment–by Technology
- Proprietary ELN
- Open-source ELN
North America Electronic Lab Notebooks Market Assessment– by Channel
- Web & Cloud-based ELN
- On-premise ELN
North America Electronic Lab Notebooks Market Assessment– by End User
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations (CROs)
- Academic & Research Institutes
- Food & Beverage Companies
- Others End Users
North America Electronic Lab Notebooks Market Assessment– by Geography
- U.S.
- Canada
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