This Lab Inventory Management Software market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
The lab inventory management software market size has grown rapidly in recent years. It will grow from $2.22 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 12%. The growth during the historic period can be attributed to advancements in genomics and precision medicine, an increase in the number of clinical trials, the rise of biobanking, growing awareness of digital inventory solutions, and the expansion of the academia and research sector.
The lab inventory management software market size is expected to see rapid growth in the next few years. It will grow to $3.93 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The projected growth for the forecast period can be attributed to increased research and development in life sciences, rising adoption of digital solutions, expansion of the biopharma sector, growing cloud adoption, and high demand for software that complies with GMP and other standards. Key trends expected during this period include the integration of automation and AI, a heightened demand for accurate sample tracking, rapid evolution of features and tools in lab management software, IoT integration, and the need for highly customizable software solutions.
The increasing research and production activities in pharmaceutical companies are expected to drive the growth of the lab inventory management software market in the future. Research and production involve exploring and developing new knowledge or products to create goods or services based on that research. Innovations in drugs and therapies, advancements in biotechnology, rising investments in research and development, and the need to address unmet medical needs are key drivers in the pharmaceutical industry. Lab inventory management software plays a crucial role in these activities by ensuring accurate tracking of essential supplies, reagents, and equipment, supporting regulatory compliance with detailed audit trails, managing expiration dates, and handling complex inventories to maintain productivity. For instance, a report published by the Office for National Statistics in February 2024 revealed that the pharmaceuticals sector was the largest contributor to business R&D in the UK in 2022, accounting for $11.9 billion (£9 billion) or 17.9% of the total R&D spending by UK businesses. Consequently, the growth in research and production activities within pharmaceutical companies is fueling the demand for lab inventory management software.
Leading companies in the lab inventory management software market are focusing on developing innovative technologies, such as digital lab platforms, to improve operational efficiency and streamline processes. A digital lab platform is an integrated software system that combines various laboratory functions - such as data management, workflow automation, and analysis - into a single digital environment, enhancing efficiency and accuracy. For example, in April 2024, eLabNext, a Netherlands-based lab digitization company, introduced the eLabNext Developer. This cutting-edge platform aims to democratize digital lab tool development and transform the life sciences research and development field. It features exceptional adaptability and future-proof capabilities, including integration with artificial intelligence (AI) and machine learning (ML) to enhance the eLabNext experience. As the first comprehensive and open developer environment in Life Science R&D, it allows users to customize and extend eLabNext functionality to meet specific needs and enables integration of products and services with digital labs through add-ons available in the eLabNext Marketplace.
In January 2023, 3Shape, a Denmark-based developer and manufacturer of 3D scanners and CAD and CAM software, acquired LabStar for an undisclosed amount. This acquisition brings together two leading companies known for their innovation and excellent customer service, creating new opportunities for dental labs, especially in digital dentistry, to grow and manage their businesses more efficiently. LabStar is a US-based provider of lab inventory management software.
Major companies operating in the lab inventory management software market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Dassault Systèmes SE, Odoo SA, Benchling Inc., LabWare Inc., LabVantage Solutions Inc., Eppendorf SE, Dotmatics Ltd., Lablynx Inc., Titian Software Ltd., Quartzy Inc., Clustermarket Ltd., Labguru Healthcare Private Limited, LabCollector, CloudLIMS Lab Solutions Pvt. Ltd., SciNote Electronic Lab Notebook, Arxspan, LIMSABC, LabSuit Project Ltd., CrelioHealth Pvt. Ltd., eLabNext, Genemod.
North America was the largest region in the lab inventory management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the lab inventory management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Lab inventory management software is a specialized system designed to track, manage, and control inventory within a laboratory environment. It ensures that laboratory supplies, reagents, equipment, and other materials are available as needed, minimizes waste, and maintains compliance with regulatory standards. This software enhances efficiency, reduces errors, and supports improved decision-making in managing laboratory resources.
The main types of lab inventory management software include cloud-based, web-based, and on-premise solutions. Cloud-based lab inventory management software is hosted on remote servers and enables laboratories to track, manage, and organize inventory in real-time from any internet-connected device. It typically offers both subscription and one-time pricing models. This software is used in various applications, such as biotechnology, drug testing, and research, across industries including pharmaceuticals, biotechnology, chemicals, manufacturing, academia, and research, among others.
The lab inventory management software market research report is one of a series of new reports that provides lab inventory management software market statistics, including lab inventory management software industry global market size, regional shares, competitors with a lab inventory management software market share, detailed lab inventory management software market segments, market trends and opportunities, and any further data you may need to thrive in the lab inventory management software industry. This lab inventory management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lab inventory management software market consists of revenues earned by entities by providing services such as inventory tracking and monitoring, order management, data integration and maintenance scheduling. The market value includes the value of related goods sold by the service provider or included within the service offering. The lab inventory management software market also includes sales of barcode scanners and printers, asset management tools, expiration tracking modules, training and simulation software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The lab inventory management software market size has grown rapidly in recent years. It will grow from $2.22 billion in 2023 to $2.49 billion in 2024 at a compound annual growth rate (CAGR) of 12%. The growth during the historic period can be attributed to advancements in genomics and precision medicine, an increase in the number of clinical trials, the rise of biobanking, growing awareness of digital inventory solutions, and the expansion of the academia and research sector.
The lab inventory management software market size is expected to see rapid growth in the next few years. It will grow to $3.93 billion in 2028 at a compound annual growth rate (CAGR) of 12.1%. The projected growth for the forecast period can be attributed to increased research and development in life sciences, rising adoption of digital solutions, expansion of the biopharma sector, growing cloud adoption, and high demand for software that complies with GMP and other standards. Key trends expected during this period include the integration of automation and AI, a heightened demand for accurate sample tracking, rapid evolution of features and tools in lab management software, IoT integration, and the need for highly customizable software solutions.
The increasing research and production activities in pharmaceutical companies are expected to drive the growth of the lab inventory management software market in the future. Research and production involve exploring and developing new knowledge or products to create goods or services based on that research. Innovations in drugs and therapies, advancements in biotechnology, rising investments in research and development, and the need to address unmet medical needs are key drivers in the pharmaceutical industry. Lab inventory management software plays a crucial role in these activities by ensuring accurate tracking of essential supplies, reagents, and equipment, supporting regulatory compliance with detailed audit trails, managing expiration dates, and handling complex inventories to maintain productivity. For instance, a report published by the Office for National Statistics in February 2024 revealed that the pharmaceuticals sector was the largest contributor to business R&D in the UK in 2022, accounting for $11.9 billion (£9 billion) or 17.9% of the total R&D spending by UK businesses. Consequently, the growth in research and production activities within pharmaceutical companies is fueling the demand for lab inventory management software.
Leading companies in the lab inventory management software market are focusing on developing innovative technologies, such as digital lab platforms, to improve operational efficiency and streamline processes. A digital lab platform is an integrated software system that combines various laboratory functions - such as data management, workflow automation, and analysis - into a single digital environment, enhancing efficiency and accuracy. For example, in April 2024, eLabNext, a Netherlands-based lab digitization company, introduced the eLabNext Developer. This cutting-edge platform aims to democratize digital lab tool development and transform the life sciences research and development field. It features exceptional adaptability and future-proof capabilities, including integration with artificial intelligence (AI) and machine learning (ML) to enhance the eLabNext experience. As the first comprehensive and open developer environment in Life Science R&D, it allows users to customize and extend eLabNext functionality to meet specific needs and enables integration of products and services with digital labs through add-ons available in the eLabNext Marketplace.
In January 2023, 3Shape, a Denmark-based developer and manufacturer of 3D scanners and CAD and CAM software, acquired LabStar for an undisclosed amount. This acquisition brings together two leading companies known for their innovation and excellent customer service, creating new opportunities for dental labs, especially in digital dentistry, to grow and manage their businesses more efficiently. LabStar is a US-based provider of lab inventory management software.
Major companies operating in the lab inventory management software market are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Dassault Systèmes SE, Odoo SA, Benchling Inc., LabWare Inc., LabVantage Solutions Inc., Eppendorf SE, Dotmatics Ltd., Lablynx Inc., Titian Software Ltd., Quartzy Inc., Clustermarket Ltd., Labguru Healthcare Private Limited, LabCollector, CloudLIMS Lab Solutions Pvt. Ltd., SciNote Electronic Lab Notebook, Arxspan, LIMSABC, LabSuit Project Ltd., CrelioHealth Pvt. Ltd., eLabNext, Genemod.
North America was the largest region in the lab inventory management software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the lab inventory management software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the lab inventory management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Lab inventory management software is a specialized system designed to track, manage, and control inventory within a laboratory environment. It ensures that laboratory supplies, reagents, equipment, and other materials are available as needed, minimizes waste, and maintains compliance with regulatory standards. This software enhances efficiency, reduces errors, and supports improved decision-making in managing laboratory resources.
The main types of lab inventory management software include cloud-based, web-based, and on-premise solutions. Cloud-based lab inventory management software is hosted on remote servers and enables laboratories to track, manage, and organize inventory in real-time from any internet-connected device. It typically offers both subscription and one-time pricing models. This software is used in various applications, such as biotechnology, drug testing, and research, across industries including pharmaceuticals, biotechnology, chemicals, manufacturing, academia, and research, among others.
The lab inventory management software market research report is one of a series of new reports that provides lab inventory management software market statistics, including lab inventory management software industry global market size, regional shares, competitors with a lab inventory management software market share, detailed lab inventory management software market segments, market trends and opportunities, and any further data you may need to thrive in the lab inventory management software industry. This lab inventory management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The lab inventory management software market consists of revenues earned by entities by providing services such as inventory tracking and monitoring, order management, data integration and maintenance scheduling. The market value includes the value of related goods sold by the service provider or included within the service offering. The lab inventory management software market also includes sales of barcode scanners and printers, asset management tools, expiration tracking modules, training and simulation software. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Lab Inventory Management Software Market Characteristics3. Lab Inventory Management Software Market Trends and Strategies32. Global Lab Inventory Management Software Market Competitive Benchmarking33. Global Lab Inventory Management Software Market Competitive Dashboard34. Key Mergers and Acquisitions in the Lab Inventory Management Software Market
4. Lab Inventory Management Software Market - Macro Economic Scenario
5. Global Lab Inventory Management Software Market Size and Growth
6. Lab Inventory Management Software Market Segmentation
7. Lab Inventory Management Software Market Regional and Country Analysis
8. Asia-Pacific Lab Inventory Management Software Market
9. China Lab Inventory Management Software Market
10. India Lab Inventory Management Software Market
11. Japan Lab Inventory Management Software Market
12. Australia Lab Inventory Management Software Market
13. Indonesia Lab Inventory Management Software Market
14. South Korea Lab Inventory Management Software Market
15. Western Europe Lab Inventory Management Software Market
16. UK Lab Inventory Management Software Market
17. Germany Lab Inventory Management Software Market
18. France Lab Inventory Management Software Market
19. Italy Lab Inventory Management Software Market
20. Spain Lab Inventory Management Software Market
21. Eastern Europe Lab Inventory Management Software Market
22. Russia Lab Inventory Management Software Market
23. North America Lab Inventory Management Software Market
24. USA Lab Inventory Management Software Market
25. Canada Lab Inventory Management Software Market
26. South America Lab Inventory Management Software Market
27. Brazil Lab Inventory Management Software Market
28. Middle East Lab Inventory Management Software Market
29. Africa Lab Inventory Management Software Market
30. Lab Inventory Management Software Market Competitive Landscape and Company Profiles
31. Lab Inventory Management Software Market Other Major and Innovative Companies
35. Lab Inventory Management Software Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Lab Inventory Management Software Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on lab inventory management software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for lab inventory management software? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The lab inventory management software market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Type: Cloud-Based; Web-Based; On-Premise2) By Pricing Model: Subscription; One-Time
3) By Application: Biotech; Drug; Testing; Research
4) By Industry: Pharmaceutical; Biotechnology; Chemicals; Manufacturing; Academia And Research; Other Industries
Key Companies Mentioned: Thermo Fisher Scientific Inc.; Agilent Technologies Inc.; Dassault Systèmes SE; Odoo SA; Benchling Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
The major companies profiled in this Lab Inventory Management Software market report include:- Thermo Fisher Scientific Inc.
- Agilent Technologies Inc.
- Dassault Systèmes SE
- Odoo SA
- Benchling Inc.
- LabWare Inc.
- LabVantage Solutions Inc.
- Eppendorf SE
- Dotmatics Ltd.
- Lablynx Inc.
- Titian Software Ltd.
- Quartzy Inc.
- Clustermarket Ltd.
- Labguru Healthcare Private Limited
- LabCollector
- CloudLIMS Lab Solutions Pvt. Ltd.
- SciNote Electronic Lab Notebook
- Arxspan
- LIMSABC
- LabSuit Project Ltd.
- CrelioHealth Pvt. Ltd.
- eLabNext
- Genemod
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | December 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 2.49 Billion |
| Forecasted Market Value ( USD | $ 3.93 Billion |
| Compound Annual Growth Rate | 12.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 24 |
