The healthcare laboratory informatics market is likely to gain traction across clinical laboratories, bringing revenues close to USD 496 million yearly by 2024. This is considering the inclining necessity for regulatory compliance in China, India, and Eastern Europe and across several developing economies. There is also a rising demand for compatible and affordable software platforms like SaaS-based cloud LIMS.
The global healthcare laboratory informatics industry has indeed witnessed an increasing demand for services and software components. Rising popularity of software as a services (SaaS) has in a way fueled the growth of healthcare laboratory informatics. Driven by the extensive development of technologically innovative solutions to combat the rising demands from the healthcare fraternity, healthcare laboratory informatics market size from service components is anticipated to hit USD 1,484.0 million by 2024.
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Cloud-based healthcare laboratory informatics market is gaining immense business opportunities as it has effectively provided services via internet combating the locational barriers. Providing alerts to patients about health risks, disease monitoring, and geospatial mapping are few of the service areas presented by cloud computing technology. Indeed, cloud technology also helps labs to streamline operations, save resources, and ensure user satisfaction. As per estimates, cloud-based healthcare laboratory informatics industry share is expected to register a CAGR of 8.8% over 2018-2024.
On the product front, laboratory information management systems (LIMS) is witnessing a phenomenal demand from biobanks and biotech companies. Factors such as easy data tracking and less errors have led the LIMS healthcare laboratory informatics industry to witness lucrative growth over its other counterparts including Electronic lab notebooks (ELN), scientific data management systems (SDMS), and Chromatography Data System.
Speaking of the geographical scenario, Asia Pacific healthcare laboratory informatics market, driven by Japan, is anticipated to witness a robust growth trend over the coming years. The demand is attributed to increasing research and development activities by both the private and public healthcare agencies. On account of the extensive implementation of these solutions by biobanks and the escalating demand for integrated healthcare lab informatics solutions, the Japan healthcare laboratory informatics industry size is expected to hit USD 168.1 million by 2024.
The market players are rapidly indulging in growth strategies like M&As, geographical expansion, and R&D to sustain their position in the fiercely competitive terrain. Some of the renowned names in the healthcare laboratory informatics industry include Perkin Elmer, LabVantage, Thermo Fisher, Abbott Informatics.
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Partial Chapter of the Table of Content
Chapter 4. Healthcare Laboratory Informatics Market, By Product
4.1. Market share by product, 2017 & 2024
4.2. Laboratory Information Management System (LIMS)
4.2.1. Market size, by region, 2013 – 2024 (USD Million)
4.3. Electronic Lab Notebook (ELN)
4.3.1. Market size, by region, 2013 – 2024 (USD Million)
4.4. Scientific Data Management System (SDMS)
4.4.1. Market size, by region, 2013 – 2024 (USD Million)
4.5. Chromatography Data System (CDS)
4.5.1. Market size, by region, 2013 – 2024 (USD Million)
4.6. Laboratory Execution System (LES)
4.6.1. Market size, by region, 2013 – 2024 (USD Million)
4.7.1. Market size, by region, 2013 – 2024 (USD Million)
Chapter 5. Healthcare Laboratory Informatics Market, By Deployment
5.1. Market share by deployment, 2017 & 2024
5.2. On premise
5.2.1. Market size, by region, 2013 – 2024 (USD Million)
5.3. Cloud based
5.3.1. Market size, by region, 2013 – 2024 (USD Million)
Chapter 6. Healthcare Laboratory Informatics Market, By Component
6.1. Market share by procedure, 2017 & 2024
6.2.1. Market size, by region, 2013 – 2024 (USD Million)
6.3.1. Market size, by region, 2013 – 2024 (USD Million)
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