Electronic Lab Notebook Market: Rising Government Funding For Research Activities is Expected To Enhance The Growth of The Electronic Lab Notebook Market
Electronic lab notebook (ELN) is a software tool used to enter observations, protocols, notes, and data by using a computer or mobile device to avoid data losses and ensure regulatory compliance and interoperable data distribution. It is replacing laboratory paper notebooks, as it is more efficient in managing data. Electronic lab notebooks are generally used by researchers, scientists, and engineers working in research and development laboratories where large number of experiment results, procedures, and documents are stored and shared for overall productivity.
Growing trend of digitization across the globe and increasing need of maintaining records electronically in pharmaceutical and bio technology industry are anticipated to fuel the growth of the electronic lab notebook market. For instance, innovations in developing drugs in pharmaceutical industry is a requirement to maintain and secure the records related to the inventions. Additionally, growing usage of electronic lab notebooks in food and beverage industry for food matrices i.e. to monitor authenticity and quality of products is expected to boost the global electronic lab notebook market over the forecast period.
Moreover, growing demand for accuracy, speed, and efficiency in industrial laboratories and rising government funding for research activities is expected to enhance the growth of the electronic lab notebook market. Furthermore, informatics and automation is becoming essential for the life sciences vertical which is anticipated to enrich the growth of the electronic lab notebook market.
Limited adaptability of electronic lab notebooks in academic research worldwide and high initial cost is projected to restrain the global electronic lab notebook market. However, with growing focus on innovation and research and development of electronic lab notebooks by many well-established and emerging players, the electronic lab notebook market is expected to overcome this restraint in the near future.
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The global electronic lab notebook market can be segmented based on deployment, product type, end-user, license type, and region. Based on deployment, the market can be classified into cloud and on-premises. In terms of end-user, market can be segmented into pharmaceutical, biotechnology, contract research, energy, manufacturing, clinical research, chemicals, academic research institutes, government, and food & beverage among others. Based on product type, electronic lab notebooks can be segmented into Cross-Disciplinary ELN and Specific ELN. Furthermore, based on license type, the electronic lab notebook market can be bifurcated into proprietary and open source.