Selbyville, Delaware, Oct. 06, 2021 (GLOBE NEWSWIRE) --
According to latest report “Healthcare Laboratory Informatics Market by Product (Laboratory Information Management System, Electronic Lab Notebook, Scientific Data Management System, Chromatography Data System, Laboratory Execution System), Deployment (On Premise, Cloud Based), Component (Services, Software), End-Use (Biotech Companies, Pharmaceuticals, Clinical), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation healthcare laboratory informatics will cross $4.2 billion by 2027.
Rising demand for scientific data integration solution across various healthcare verticals is expected to drive the market growth in the coming years. Data integration solution combines various existing data clusters, and also adds new data clusters easily. With increasing need for real-time results that are accurate, complete, and provide futuristic business view, the adoption of healthcare laboratory informatics will increase, thereby fostering the market expansion.
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Scientific data management systems (SDMS) segment in the healthcare laboratory informatics market was valued at USD 366.3 million in 2020. The scientific data management system collects, index, organizes, stores, archives, shares, and searches electronic records. It offers a protected, rich content services and central repository to allow organizations to re-use and manage business critical information, comply with corporate and regulatory orders, and allow collaboration for any type of electronic record.
Cloud based solutions dominated more than 66.2% of the healthcare laboratory informatics market share in 2020. Cloud-based big data services such as PaaS, SaaS, CaaS, IaaS, XaaS, and Maas are being introduced in many healthcare organizations that help in cost effective and round the clock access to information. Moreover, cloud-based solution enables biobanks, testing and clinical labs to focus on research instead of spending time in IT resources, managing data, and software purchases. However, it may not be the best choice for every lab, but it can give affordable option to have a high functioning system.
Healthcare laboratory informatics market for software segment will witness 8.9% growth rate till 2027. Growing demand for data organization and rising inclination towards regulatory-compliant software owing to customized software, improved workflows and data visibility is anticipated to fuel the segment growth. Further, growing need for system that aligns with organizational needs will further propel the market demand.
Clinical laboratories segment will reach USD 928.1 million by 2027. The clinical laboratory offers a wide range of clinical safety testing which includes several steps starting from patients’ data collection and analysing to generating the reports. In addition to this, growing demand for a cost-effective and compatible platform such as SaaS based cloud LIMS is poised render positive impact on industry growth during the forecast timeframe.
Asia Pacific healthcare laboratory informatics market is estimated to attain a CAGR of 9.9% by 2027. The demand for fully integrated laboratory information management systems platforms is growing across the region. This is in accordance with the prerequisites of research and life sciences industries. The region is accepting cutting-edge healthcare technologies in order to offer best healthcare solutions to the patients. Furthermore, government initiatives to promote a tiered health care system, reform public hospitals, reduce unwanted drug usage, and health insurance will further stimulate the market value in the coming years.
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Prominent companies involved in the market are Starlims, Agilent Technologies, Benchling, Inc., LabLynx, Inc., LabVantage Solutions, Inc., LabWare, PerkinElmer, Inc., Tech Mahindra, Thermo Fisher Scientific and Waters Corporation. These prominent business leaders focus on new product launch, strategic acquisitions and mergers to strengthen market position.
Table of Contents (ToC) of the report:
Chapter 3 Healthcare Laboratory Informatics Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By deployment
3.4.3 By component
3.4.4 By end-user
3.5 COVID-19 impact analysis
3.6 Technology landscape
3.7 Regulatory landscape
3.8 Porter’s analysis
3.9 Competitive landscape, 2020
3.10 PESTEL analysis
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https://www.gminsights.com/toc/detail/healthcare-laboratory-informatics-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
