Global Laboratory Informatics Market Future Insights and Growth Statistics By 2027

 Market Insights

The global laboratory informatics market is forecasted to experience strong growth over the forecast period. The market held a valuation of $2422 million in 2018 and expected to register a CAGR of 7.2% over the forecast period, 2019-2025, according to Market Research Future.

Several other factors, such as the increasing number of CROs using increasingly cloud-based platforms, the growing preference for personalized medicines, untapped emerging markets, increasing regulatory approvals, and increased research and development in the medical field, should stimulate market growth.

Due to increased workload, cost constraints, and technological progress, the nature of the pathology changes rapidly, depending on market needs. The new lab systems are manufactured with the best technologies to mitigate today’s global demand. New approaches to laboratory information management are now needed to meet changing health system requirements.

The growth in this market is mainly due to the growing need for laboratory automation, the development of integrated IT solutions, the growing need for compliance with legal standards, and the growing demand for biobanks. In addition, lack of integration standards and high maintenance and service costs are likely to slow growth in this market to some extent.

However, high maintenance and service costs can hinder the market growth during the forecast period.

Market Segmentation

The global laboratory informatics market is bifurcated based on component, product, deployment model, end-user, and industry.

The product segment is diversified into Chromatography Data Systems (CDS), Electronic Data Capture (EDC), Laboratory Execution Systems (LES), Scientific Data Management Systems (SDMS), Laboratory Information Management Systems (LIMS), Clinical Data Management Systems (CDMS), Electronic Lab Notebooks (ELN), and Enterprise Content Management (ECM). The LIMS segment is further divided into industry-specific LIMS and broad-based LIMS.

The component segment is bifurcated into services and software.

The global laboratory informatics market is also classified based on the deployment model into remotely hosted models, on-premise models, and cloud-based models.

The end-users of the laboratory informatics market are life sciences companies, CROs, environmental testing laboratories. However, the CROs segment is anticipated to show a rapid growth trend owing to high demand from outsourcing companies as a step to curb the healthcare costs.

Moreover, based on the industry, the global laboratory informatics market is segregated into chemicals environmental testing laboratories, petrochemical refineries, oil & gas, agriculture, and life science.

Regional Insights

The global laboratory informatics market headed by North America and is set to sustain its dominance owing to the presence of some leading industry giant.  North America is anticipated to uplift its market share in the coming future due to developed healthcare infrastructure and convenient compensation facilities in the region. The United States is the leading market in the region owing to an inclination for digital healthcare in the nation and heavy investments of key players to build sophisticated operational facilities.

Asia Pacific region is anticipated to grow at significant pace to high number of CROs presenting LIMS solutions in the region. China and India are anticipated to come out as leading destinations for outsourcing. Deployment of high-tech medical equipment that helps to retrieve factual data has enhanced the demand for laboratory informatics.

Key Players

Industry players are largely focusing on the latest methodologies to develop efficient solutions. These key players include Agilent Technologies, Inc, Labvantage Solutions, McKesson Corporation, Dassault Systèmes, Labworks LLC, KineMatik, Lablynx, Waters, Autoscribe Limited, Perkinelmer Inc., IDBS, Thermo Fisher Scientific Inc., and Perkinelmer Inc.

Recent Updates

  • Autoscribe Informatics has declared the selection of Mediproview Technology as its distributor in China for Laboratory Information Management System (LIMS) products. Mediproview, emphasizes on the specialist software delivery dedicated for laboratories. The tools comprise an instinctive visual workflow screen editor that deploys point-and-click and drag-and-drop methods to list boxes, add fields, and other erudite controls, deprived of the necessity of programming skills.

Browse Premium Research Report with Tables and Figures @ https://www.marketresearchfuture.com/reports/laboratory-informatics-market-8106

About US:

Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Comments

Post a Comment

Popular posts from this blog

Root Canal Market share Valuation, Trends and Forecast to 2027

  The Global Root Canal Market could touch the valuation of USD 21.0 billion by 2023, asserts Market Research Future (MRFR). It is expected to achieve a CAGR of 8.0 % during the forecast period (2017-2023). Growth Drivers and Key Barriers The global root canal market benefits from the rising demand for the treatment owing to the expanding population and the subsequent surge in the number of procedures performed. The boost in number of screenings, greater stress on restorative dental procedures, greater consumption of starch-rich diets and fast foods and rising efficacy, efficiency and success rate of root canal treatment has taken the market to greater heights.  Having said that, the high cost of root canal treatment could act as a barrier for the market in the near future. However, as product development is one of the best strategies for market growth, the market could observe exponential growth in the coming years. This factor stands true on the back of technological advancements
Read more

Cardiovascular Ultrasound Market,Growth, Demand and Key Players to 2027

  GE Healthcare (U.S.), Philips Healthcare (The Netherlands), Siemens Healthcare (Germany), Hitachi Medical Corporation (Japan), Toshiba Medical Systems Corporation (Japan) are some of the prominent players at the forefront of competition in the Global Cardiovascular Ultrasound Market and are profiled in MRFR Analysis.  Global Cardiovascular Ultrasound  Market - Overview Cardiovascular ultrasound imaging system market has increased due to increase in the incidence of cardiovascular diseases, changing lifestyle of people, increase in incidence of diabetes and other risk factors favouring the growth of this market. Increase in demand of cardiovascular ultrasound imaging system in hospitals for diagnosis of heart disease or before any surgical procedure favour the growth of this market.     Cardiovascular diseases gain a huge attention due to increasing prevalence. Due to increasing number of death from cardiovascular diseases, number of companies are in a race for the introduction of th
Read more

Root Canal Market Leading Players, Sales Projection and COVID-19 Impact Analysis By 2027

  Market Scenario A root canal is a dental procedure involving the removal of the central pulp from the tooth. A root canal is performed when the pulp of a tooth is injured, inflamed or infected. The objective of the root canal is to save the structure of the tooth and to prevent infection of the gums and other teeth. Common causes of the root canal treatment include deep decay due to the cavity, a chip or crack in the tooth, an injury to the tooth, infection, and others. The most common symptoms of damaged pulp include pain, swelling, and a heat sensation in the gums. also read @  http://www.marketwatch.com/story/root-canal-market-trends-size-share-demand-forecast-business-revenue-investment-opportunities-competitor-strategies-and-impact-of-covid-19-2021-01-17 Growth Drivers and Key Barriers The global root canal market benefits from the rising demand for the treatment owing to the expanding population and the subsequent surge in the number of procedures performed. The boost in nu
Read more