Scientific data management system is a system software that is used for the management of documents such as capturing, cataloging, archiving data management made by laboratory instruments and application in a compliant and best suitable manner for later use. The stored data can be of structured, unstructured, or semi structured data type. It can also be considered as the gatekeeper as it serves as platform independent data to informatics application or other consumers. It stores the data generated by the instruments like high performance liquid chromatography, mass spectroscopy, and others. Moreover, it can be used as one of the potential solutions for handling unstructured data that can make up most part of the data of the research and development unit. This data includes the pdf files, images, instruments data, spreadsheets, and other forms of data rendered in the laboratory. It has some advantages, which include retrieve worklist from the laboratory information management system (LIMS) and converts it to sequence files, analyses and creates reports on functions of laboratory instruments, it performs complex calculations and comparisons of two different sample groups. In addition, it acts as an operational database that allows selective input and output of electronic laboratory notebook (ELN) data. It is also used in validating the computer system software in the laboratory. Primarily, the software is developed for data consolidation, management, and asset realization of knowledge.
COVID-19 Scenario Analysis:
With the outbreak of COVID-19 globally and the stipulated lockout, there is an ongoing downturn in the healthcare market. Aside from communities, COVID-19 was equally disastrous for major world economies, especially the healthcare sector. Prominent stakeholders are continuing to adapt their strategy to the rapidly changing situation. COVID-19 is projected to have significant long-term impacts on the healthcare industry. Countries and major players would have to undertake critical healthcare changes until the crisis takes a back seat.
Technological progress, cost containment, and increased access will in the near future be an integral part of healthcare reforms. Digital health and telehealth have taken a front seat in the ongoing outbreak. COVID-19 re-emphasized the importance of remote diagnosis, care and consultation. Over the past few years, regulatory and behavioural barriers have slowed Telehealth growth. However, since many healthcare providers are currently working on video conferencing and telephone calls, this segment's growth will increase several folds over the next two years. The social distancing measures also mandated online consultation of patients with moderate symptoms. In addition, it greatly reduces the burden on hospitals already swamped by counts of COVID-19 patients. Medical IoT devices that live at home with patients are now being used for optimizing outpatient treatment and minimizing repeat visits, and these devices can be further used in a crisis situation. The pandemic led to severe resource constraints. This is expected to result in the development of competitive pricing and value-based pricing models, which will accelerate the market growth in future. Furthermore, the COVID-19 has also resulted in the social distancing and lockdowns and led to the shortage of manpower in the work area. This has impacted the scientific data management system in the way that it increased the demand of implementing the scientific data management system among the end users.
Top impacting factors: market scenario analysis, trends, drivers, impact analysis
Major factors responsible for driving the growth of the scientific data management systems market include rise in the demand for laboratory automation from places like the academic research institutes, increase in the technological advancements, the entry of cloud computing for handling large data volume leading to the adoption of the scientific data management system, surge in the demand of the enhanced data sharing and the reduction in data integration, development in the data security in the software, launch of the new products for the betterment of the professionals, increase in the investments by the companies for the development of the powerful scientific data management system.
However, lack of the skilled and trained professionals and high cost of the maintenance are some of the factors that restrain the growth of the market.
New product launches to flourish the market:
In July 2020, LabVantage Solutions Inc. launched LabVantage platform version 8.5, a new integrated scientific data management system that collects the data and offer high security to the laboratory.
In August 2019, Merck & Co, Inc. acquired the product ProcessPad platform, a new platform from Simplyfeye Software Private Ltd. It monitors and reports the key scientific processes in the real-time.
Surge in the usage of scientific data management systems:
The increase in the number of skilled professionals and new innovations in the software can help to increase the use of the such systems. Furthermore, the reduction in the cost of the maintenance can help to surge the usage of the scientific data management systems.
Key benefits of the report:
- This study presents the analytical depiction of the global scientific data management system industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global scientific data management system market share.
- The current market is quantitatively analyzed to highlight the global scientific data management system market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global scientific data management system market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the scientific data management system market research report:
- Which are the leading market players active in the scientific data management system market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
Scientific Data Management System Market Report Highlights
By Deployment mode
By Component type
By End users
Key Market Players
CSols, Inc., Thermo Fisher Scientific, Inc., Dassault Systemes SE, Abbott Laboratories, Shimadzu Corporation, Merck KGaA, Tibco Software Inc., SciCord LLC, Accelerated Technology Laboratories, Inc., LabVantage Solutions, Inc.