The accelerating adoption of advanced technology in genetic testing and genomic practices are likely to augment the growth of the global laboratory informatics market during the forecast period, 2020 to 2030. An increment sought after for laboratory robotization is relied upon to fuel the appropriation in the coming years. Information created by research facilities has drastically ascended in the previous few decades inferable from rising innovative headways in sub-atomic genomics and hereditary testing rehearses. What’s more, the shift of inclination toward customized medication, disease genomics considers, and expanding patient commitment necessity is required to upsurge the interest for lab robotization frameworks.
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The global laboratory informatics market is classified on the basis of product, delivery mode, component, end-use, and region. Based on segmentation by product, the market is grouped into Enterprise Content Management (ECM), Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS), Scientific Data Management Systems (SDMS), Laboratory Information Management Systems (LIMS), Chromatography Data Systems (CDS), Laboratory Execution Systems (LES), and Electronic Lab Notebooks (ELN).
The report offers insights into the market and discusses the prime factors aiding to its growth. Moreover, the report throws light on other parameters such as restraints, challenges, current trends, and upcoming opportunities that will shape the future of the market in the positive way. Additionally, the report lists the key segments and mentions the leading one with factors attributing to its growth. The impact of the novel COVID19 pandemic on the global laboratory informatics market is also discussed thoroughly in this report.
Laboratory Informatics Market: Company Profiles
Companies are indulging in merger and acquisition strategies to gather more revenues on the one side and emerge dominant on the other. Other players are investing in research and development of better software solutions, and advanced products, thereby gaining a competitive edge in the overall market.
Some of the well-known players of the global laboratory informatics market include:
- Abbott Informatics
- McKesson Corporation
- Agilent Technologies
- LabVantage Solutions Inc
- Thermo Fisher Scientific Inc.
- Waters Corporation
- ID Business Solutions Ltd.
- LabLynx Inc.
- PerkinElmer Inc.
- Core Informatics
Laboratory Informatics Market: Drivers and Restraints
The increasing demand for lab automation activities is likely to aid in expansion of the global laboratory informatics market. Besides this, the growing adoption by bio repositories and bio banks will also boost the growth of this market. Additionally, the introduction of advanced software technology and the growing support from government in terms of regulatory approvals will also help create lucrative growth opportunities for the market in the years to come.
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Laboratory Informatics Market: Geographical Insights
Regionwise, North America earned the largest share in the global laboratory informatics market. This is owing to the increasing rate of digital literacy and the rising cost on medical infrastructure and digital facilities. Additionally, the presence of a well-established healthcare infrastructure and facilities is likely to aid in expansion of the market for this region in the coming years as well. On the other side, the market in Asia Pacific is expected to witness lucrative growth opportunities during the forecast period, on account of the improving healthcare facilities and infrastructures. Moreover, the supporting initiatives in the form of insurance plans, healthcare systems, and medical services, will help the developing nations such as China, India, Japan, and others generate significant revenues in the coming years.
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