Redding, California, Feb. 09, 2023 (GLOBE NEWSWIRE) — According to a new market research report, “Electronic Lab Notebook 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) – Global Forecast to 2029,” published by Meticulous Research®, the electronic lab notebook market (ELN) is expected to grow at a CAGR of 7.1% from 2023 to reach $787.7 million by 2029.
Electronic lab notebooks (ELNs) are laboratory management solutions designed to replace paper lab notebooks. ELN in its most basic form acts as a page in a paper lab notebook. It offers various advantages like data management, data security, auditing, results interpretation, and collaborations. There are two types of ELNs—cross-disciplinary or multi-disciplinary and specific ELN. The scientists use the cross-disciplinary ELNs while working in multiple disciplines or fields.
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Web & cloud-based electronic lab notebooks are flexible, highly scalable solutions for capturing, analyzing, managing, and sharing laboratory and research data. ELNs are adopted by biotechnology, academic research, contract research organizations, food & beverages, forensic laboratories, chemicals industry, environmental, petrochemical, and oil & gas industries.
The key factors driving the electronic lab notebook market are 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, growing scope of cloud-based ELNs and untapped markets in emerging economies are some of the factors expected to offer significant growth opportunities for 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.
Impact of COVID-19 on the Electronic Lab Notebook Market
The COVID-19 pandemic led to the expansion of the electronic lab notebook market as researchers and scientists adopted ELNs to continue their research while working remotely. Pharmaceutical institutions and companies had to expedite research to find a cure against the virus and develop a vaccine, straining researchers and scientists. Using paper to maintain records of large volumes of research data tends to be tedious. Electronic lab notebooks simplify keeping records of experiments and research. Electronic lab notebooks made it easy to access data while working remotely.
Moreover, some electronic lab notebooks offer inventory systems that can be integrated with digital laboratory notes, helping researchers to transcribe an experiment without being physically present on-site. Also, ELNs have emailing capabilities, which help researchers stay connected and efficiently communicate within the ecosystem. There has been a surge in the adoption of ELNs as laboratories needed to stay productive and maximize research output even during the pandemic.
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Thus, the outbreak of the COVID-19 pandemic accelerated the adoption of electronic lab notebooks and is expected to positively impact the electronic lab notebook market.
Electronic Lab Notebook Market Overview
The overall electronic lab notebook 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.
Based on product type, the cross-disciplinary ELN segment is estimated to account for the largest share of the electronic lab notebook market in 2023. This segment’s large market share is mainly attributed to the ability of cross-disciplinary ELNs to cater to multiple disciplines for meeting a wide range of scientific needs. Moreover, other benefits of cross-disciplinary ELNs include reduced IT overhead costs, the ability to provide a detailed view of organizational data, secure storage of an organization’s knowledge and IP in one central location, improved workflow management across disciplines, better collaboration capabilities across research areas, and efficient utilization of information for strategic planning and making business decisions. The segment is also expected to witness a rapid growth during the forecast period.
Based on technology, the proprietary ELN segment is estimated to account for the largest share of the ELN market in 2023. Most of the ELNs currently available are proprietary software solutions that enable users to leverage the software provider’s customer service department for troubleshooting and setup. Customer support is a major factor for users with minimal technical skills. Moreover, proprietary ELNs offer more features that appeal to the end-user laboratories/organizations. Thus, more responsive service/support, better security and reliability, frequent availability of new products and upgrades, better usability, and higher demand for closed-source ELNs are expected to drive the growth of the proprietary ELN segment during the forecast period. The segment is also expected to witness a rapid growth during the forecast period.
Based on channel, the web &cloud-based ELN segment is estimated to account for the largest share of the ELN market in 2023. The large market share of this segment is attributed to the benefits of web &cloud-based ELN, such as greater flexibility, easy data sharing capabilities, and real-time analysis capabilities compared to the on-premise ELN.
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Based on end user, the pharmaceutical companies segment is estimated to account for the largest share of the overall ELN market in 2023. The large market share of this segment is attributed to the increasing adoption of laboratory informatics solutions by the pharmaceutical industry and the rapid shift to digital transformation. However, the contract research organizations segment is expected to witness the fastest growth during the forecast period. Pharmaceutical and biotechnology companies are increasingly outsourcing their drug development, preclinical & clinical research, clinical trials management, and pharmacovigilance to contract research organizations (CROs) due to the increasing cost of research, loss of revenue from leading blockbusters going off-patent, and the lack of extensive in-house R&D infrastructure. Moreover, the increasing number of clinical trials and rapidly growing healthcare and life sciences industries are driving research outsourcing, especially in Asian countries, to ensure quick and cost-effective drug discovery. Contract research organizations mainly use ELN solutions to manage the increasing volumes of data, streamline clinical research, expedite drug development, manage communications, abide by the regulatory standards, and gain a competitive edge.
Geographically, North America is expected to dominate the global electronic lab notebook market, followed by Europe and Asia-Pacific in 2023. The large market share of this region is attributed to the high R&D funding in the region, rising demand for electronic lab notebooks in various sectors such as the pharmaceutical & biotech and F&B industries and the presence of top players in the region. However, Asia-Pacific region is expected to be the fastest growing market during the forecast period. Accelerated economic growth of many countries in this region, growing government focus on digitization and laboratory infrastructure, growing life sciences industry and outsourcing to CROs, growing laboratory automation, and increasing availability and awareness of laboratory solutions are some of the key factors responsible for the highest CAGR in this region.
The report also includes an extensive assessment of the product, technology, channel, end user, geography, and key strategic developments in the industry’s leading market participants over the past four years. In recent years, the electronic lab notebook market has witnessed numerous product launches, agreements, collaborations, partnerships, and acquisitions.
The key players operating in the global electronic lab notebook 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.
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Scope of the Report:
Electronic Lab Notebook Market, by Product
- Cross-disciplinary ELN
- Specific ELN
Electronic Lab Notebook Market, by Technology
- Proprietary ELN
- Open-source ELN
Electronic Lab Notebook Market, by Channel
- Web & Cloud-based ELN
- On-premise ELN
Electronic Lab Notebook Market, by End User
- Pharmaceutical Companies
- Biotechnology Companies
- Contract Research Organizations (CROs)
- Academic Research Institutes
- Food & Beverage Companies
- Others End Users
Electronic Lab Notebook Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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