The Electronic Lab Notebook Market is slated to grow on a stellar note going forward. The current situation is that digitization, which has the capacity of changing the dynamics of any vertical, has made a beeline to the healthcare vertical. The world out there no more depends on references for choosing healthcare services but goes for 360-degree research before arriving at the final decision. This would be the digitized healthcare vertical in the future.
Electronic lab notebooks (ELN) is a computer programmed electronic device, which is capable of storing the data related to the lab experiments or researches. In addition, it enables the user to access the stored data for future reference and data sharing with other users.
It is not only a replacement of laboratory paper notebook but also helps in the management of data in an orderly manner and provides security. Electronic lab notebooks are widely used by the researchers and engineers working in research and development laboratories of pharmaceuticals, chemicals and healthcare institutions, where huge number of experiment results, procedures and results are documented, stored and shared among the scientists.
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The potential benefits of electronic lab notebook includes better data management, avoid data loses, eliminate work forgery, and ease in searching and data mining. The electronic lab notebook being a core part of laboratory informatics strategy, it is adopted worldwide among the scientists and researchers, hence proving to be a beneficial product in the market.
The global electronic lab notebook market is primarily driven by the increasing demand for the electronic lab notebook among the scientists and researchers working in different sectors such as analytical chemistry, pharmaceuticals and healthcare. With innovations in developing drugs it is a necessity to maintain and safe secure the records related to the inventions.
Thus, the use of electronic lab notebook eliminates the conventional method of maintaining the records in paper notebook providing more security to the intellectual property. However, the adaptability of electronic lab notebooks in the academic research is low which might restrain the market.
Limited number of market players supplying electronic lab notebooks and the cost of this handy device might pose as a restraint to the market. On the other hand, these restraints will provide opportunities for new entrants to the electronic lab notebook market.
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Global Electronic Lab Notebook Market: Market Segmentation
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| Based on data storage |
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Based on the geographic regions, global electronic lab notebook market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan, and Middle East & Africa. The North America market for electronic lab notebook dominates the global market with largest market share among the aforementioned regions.
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The adoption of new technologies in the region along with the acts for patient safety and efficient data management in the healthcare laboratories in the region attributes to the growth of the market in the region. Western Europe market for electronic lab notebook trails behind the North American market.
With increasing healthcare infrastructure and IT developments in the regions like Latin America, Asia-Pacific and Eastern Europe provides lucrative opportunities for the electronic lab notebook market in the region.
Some of the major players identified in the global electronic lab notebook market includes Arxspan,DASSAULT SYSTÈMES, LabArchives, LLC., LabWare, and Abbott Informatics among others.
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