The global scientific data management system market is anticipated to grow from 2020 to 2027 due to the increasing demand for the automation of laboratories. Rising academic research and development has increased the number of technologically advanced laboratories that require software tools for data storage, sharing, management & security thereby leading to the scientific data management system (SDMS) market growth. Furthermore, the prevalence of infectious diseases such as COVID-19 has resulted in social distancing and lockdowns. There has been a considerable shortage of manpower due to the shutdown. This has necessitated the implementation of scientific data management systems hence increasing the demand.
On the basis of deployment mode, the scientific data management system can be segmented into on-premise based and into cloud-based. The on-premise scientific data management system has gained popularity because institutions have complete control over the software thereby preventing data breaching. Moreover, it is convenient to install the software and store data that can be used for future re-processing. Furthermore, the cloud-based system is the dominant market segment and is expected to propel the market over the forecast period. This can be attributed to the free storage space to organize and store files and folders which can be accessed easily during audits and cross-checking.
On the basis of end-use, SDMS can be segmented into laboratories, research institutes & hospitals. The laboratory segment has a dominant market share. The rise in the number of experiments conducted daily has resulted in ample data generation. Thus, SDMS captures, archives, and catalogs the generated data. Moreover, there is a considerable demand for SDMS in research laboratories as they frequently import and export data with partner institutions. SDMS helps in capturing data from remote sites and imports the data into the common repository hence allowing research institutes to easily access the information. This has increased the demand for SDMS in the research institutes. Furthermore, the incorporation of SDMS in hospitals has increased market growth. SDMS stores patient data, medical records, and patient history. It also creates a customized workflow to ensure that these documents are approved and reviewed by the concerned people.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA. North America will hold the dominant regional share followed by the European Countries due to its high digital literacy and policies supporting the deployment of a scientific data management system. Moreover, the presence of key market players such as TIBCO Software and Abbott Laboratories in the regions is fueling the market growth.
Asia Pacific region will witness lucrative growth over the forecast period due to the rising investments in the healthcare industry for lab automation & the adoption of technologically advanced equipment. Moreover, increased government funding and favorable initiatives are augmenting the demand for scientific data management system software.
The key market players Abbott Laboratories, Thermo Fisher Scientific Inc., Accelerated Technology Laboratories Inc, LabVantage Solutions Inc., Merck KGaA, SciCord LLC, TIBCO Software Inc., and Shimadzu Corporation. These players are involved in new product launch, strategic collaborations, and regional expansion to strengthen their position amongst competitors. For instance, in 2019, TIBCO Software Inc, which is involved in data analytics and API management software acquired SnappyData Inc. to enhance its data management and analytics portfolio.
b. The global scientific data management system market is expected to register a substantial growth owing to adoption of technologically advanced equipment.
b. The global scientific data management system market is expected to register a substantial growth rate in the next five years. The adoption of technologically advanced equipment and favorable government initiatives is expected to augment the market growth.
b. North America dominated the scientific data management system market with the highest share in 2019. This is attributable to high digital literacy and presence of key market players.
b. Some key players operating in the scientific data management system market include Abbott Laboratories, Thermo Fisher Scientific Inc., Accelerated Technology Laboratories Inc, LabVantage Solutions Inc., Merck KGaA, SciCord LLC, TIBCO Software Inc., and Shimadzu Corporation.
b. Key factors driving the scientific data management system market growth include rising research and development & the adoption of technologically advanced equipment.
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