Wilmington, Delaware, Aug. 16, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Electronic Lab Notebook (ELN) Market by Component (Software and Services), Delivery Mode (Cloud Based/ Web Based and On Premise) and End User (Life Science, Chemical Industries, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the electronic lab notebook (ELN) market was valued at $392.0 million in 2023, and is estimated to reach $841.7 million by 2033, growing at a CAGR of 7.9% from 2024 to 2033.
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The global electronic lab notebook market is experiencing growth due to several factors such as rise in R&D activities in the life science domain for drug development and technological advancements in the electronic lab notebook industry.
Prime determinants of growth
The global electronic lab notebook market is experiencing growth due to several factors such as a surge in trend in research labs towards digitalization, a rise in R&D across businesses, and the requirement for effective data management and researcher communication. Features like data organization, searchability, security, and accessibility that come with electronic lab notebooks improve productivity and simplify processes in research settings. The use of cloud-based electronic lab notebooks also makes data accessible from a distance, which makes it easier for teams who are spread out geographically to collaborate. The market for electronic lab notebooks is also developing as a result of rising regulatory compliance requirements and the tendency to outsource research tasks.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $392.0 million |
| Market Size in 2033 | $841.7 million |
| CAGR | 7.9% |
| No. of Pages in Report | 280 |
| Segments Covered | Component, Delivery Mode, End User, and Region. |
| Drivers | Technological advancements in the electronic lab notebook industry |
| Rise in need for effective data management | |
| Surge in R & D activities | |
| Opportunities | Rising investments in Healthcare IT |
| Restraint | Data security concerns |
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Segment Highlights
Cloud based/ web-based segment to maintain its dominance by 2033
The demand for electronic lab network is expected to surge as they provide a digital solution for organizing and storing experiments, procedures, and data, thus, electronic lab notebooks, or ELANs, have grown to be indispensable instruments in contemporary research laboratories. There has been an increasing demand, especially in the lifespan domain, for R&D activities in drug development. Further, the process of documenting experimental methods, findings, and observations is streamlined by ELNs. They facilitate researchers' work management and teamwork by providing searchable databases, templates for standard protocols, and tools for data organization. Mechanisms for protecting research findings and upholding data integrity are offered by ELNs. Mechanisms for protecting research findings and upholding data integrity are offered by ELNs.
To assist stop data loss, manipulation, or unauthorized access, features including version control, electronic signatures, and access controls are included. There are strict guidelines for recording research activity in many sectors, especially in regulated fields like biotechnology and pharmaceuticals. By offering electronic signatures, audit trails, and report generation tools, ELNs provide options for upholding regulatory compliance. By eliminating the requirement for physical storage space, consuming less paper, and simplifying administrative chores related to data administration, switching from conventional paper-based lab notebooks to electronic solutions can result in cost savings.
Regional Outlook
North America to maintain its dominance by 2033
By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. This is attributed to its advanced technology infrastructure, strong demand for efficient data management solutions, supportive regulatory environment, and collaborative ecosystem fostering innovation and market growth in the electronic lab network. However, the Asia-Pacific region is expected to witness rapid industrialization in countries like China and India, which has led to the establishment and expansion of manufacturing facilities, including advancements and accessibility of such devices. This is expected to drive the market growth during the forecast period.
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Key Players:
- Abbott Laboratories
- Agilent Technologies, Inc.
- Arxspan, LLC
- Benchling, Inc.
- Eppendorf AG
- LabVantage Solutions Inc.
- Lab Archives
- Perkin Elmer
- BioVia Corporation
- Dassault Systemes SE
The report provides a detailed analysis of these key players in the global electronic lab notebook market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Recent Developments in Electronic Lab Notebook (ELN) Market Worldwide
- In November 2023, SciNote Electronic Lab Notebook (ELN) , an industry leader in R&D ELN and digital laboratory solutions, partnered with Ganymede Bio, the cloud infrastructure provider purpose-built for the life sciences and manufacturing industries, to redefine how data is collected and consumed within laboratories. With Ganymede's data platform, SciNote users can now connect data from any lab instrument, do efficient analysis with their preferred apps, and have experimental results immediately tagged and entered the relevant notebook entries.
- In August 2022, LabKey announced the launch of an electronic lab notebook to meet the increasing complexity of scientific research. The ELN is fully integrated with two of LabKey's flagship products- Sample Manager and Biologics LIMS.
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