Growing trend of laboratory automation and technological advancements in the fields of genomics and genetic testing procedures are some of the key factors driving market revenue growth
According to Emergen Research, the global laboratory informatics market size was USD 2.54 billion in 2020 and is expected to reach USD 4.21 billion in 2028 and register a revenue CAGR of 6.5% during the forecast period, 2021-2028.
The global laboratory informatics market revenue growth is majorly driven by technological advances in laboratory information management systems (LIMS), rapid adoption of laboratory informatics software solutions in bio-banks and bio-repositories, growing demand for advanced and cost-effective laboratory automation solutions, and growing need for scientific data integration solutions. Laboratory informatics is a specialized application of information technology that is designed to optimize the efficiency of lab operations using advanced software and data management tools.
Claim Your FREE Sample Copy with Table of content@ https://www.emergenresearch.com/request-sample/435
It helps record, process, and interpret scientific data in research & development projects and lab testing procedures. Moreover, it aids in laboratory data management and maximizes lab workflow. Rising volumes of diagnostic laboratory tests and growing need for laboratory automation due to high accuracy in results and reduced human errors are other major factors expected to contribute to the global market revenue growth. Market revenue growth, however, is hampered to some extent due to factors such as shortage of skilled laboratory personnel, lack of regulatory standards for laboratory informatics solutions, and high maintenance and service costs.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Cloud-based Segment Accounted for Largest Revenue Share in 2020:
Based on deployment, the cloud-based segment accounted for the largest revenue share in the global laboratory informatics market in 2020. The cloud technology helps in storage of large volumes of data remotely and facilitates data recovery based on the various requirements of clients. Rapid adoption of cloud-based laboratory informatics solutions in the healthcare sector is a key factor expected to drive revenue growth of this segment over the forecast period.
Laboratory Information Management Systems Segment to Register Fastest Revenue CAGR:
Based on solution, the laboratory information management systems segment is expected to register the fastest revenue growth rate in the global laboratory informatics market over the forecast period. Laboratory informatics management systems help to centralize laboratory workflows, standardize lab tests and procedures, and offer accurate control of laboratory processes. Rising awareness of the advantages of laboratory informatics management systems is a major factor boosting revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America laboratory informatics market held the largest revenue share in the global market in 2020. Rising trend of laboratory automation, increasing demand for outsourced laboratory testing services, growing need for reducing lab operational costs, and presence of major industry players in the region, including Agilent Technologies, Cerner Corporation, Waters Corporation, and PerkinElmer, are key factors contributing to the revenue growth of the market in the region.
Check Our Prices@ https://www.emergenresearch.com/select-license/435
Major Companies in the Market Include:
- Agilent Technologies, Inc.
- Dassault Systèmes SE
- LabLynx, Inc.
- Thermo Fisher Scientific, Inc.
- LabVantage Solutions, Inc.
- Cerner Corporation
- McKesson Corporation,
- PerkinElmer, Inc.
- Accelerated Technology Laboratories Inc.
- Waters Corporation
For the purpose of this report, Emergen Research has segmented the global laboratory informatics market based on component, deployment, solution, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018-2028)
Deployment Outlook (Revenue, USD Billion; 2018-2028)
Solution Outlook (Revenue, USD Billion; 2018-2028)
- Electronic Data Capture
- Electronic Lab Notebooks
- Laboratory Information Management Systems
- Scientific Data Management Systems
- Laboratory Execution Systems
- Clinical Data Management Systems
- Enterprise Content Management
- Chromatography Data Systems
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Pharmaceutical & Biotechnology Industries
- Food & Beverage Industry
- Oil & Gas Industry
- Contract Research Organizations
- Environmental Testing Laboratories
- Petrochemical Refineries
Click to access the Report Study, Read key highlights of the Report and Look at Projected Trends: https://www.emergenresearch.com/industry-report/laboratory-informatics-market
Region Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Take a Look at our Related Reports:
Bioelectric Medicine Market By Product Type (Cardioverter defibrillators, Spectromolecular, Cohlear implants, Spinal cord stimulators, Brain stimulators, Sacral and vagus nerve stimulators), By Application (Arrhythmia, Pain Management, Sensorineural hearing loss, Parkinson’s disease, Tremor, Depression), By End User (Hospitals, Ambulatory Surgery Centers, Diagnostic Centers) and By Regions Forecasts to 2027
Smart Stethoscope Market Analysis By Type (Wireless Stethoscope, Wired Stethoscope), By Application (Hospitals, Ambulatory Surgical Units, Clinics, Others), By End Use, By Region, Forecast to 2027
Automated Breast Ultrasound Market Analysis By Product Type (Automated Breast Ultrasound System, Automated Breast Volume Scanner), By Application (Screening, Pre-operative Evaluation), By End-User (Hospitals, Ambulatory Surgical Units, Diagnostic Centers, Others), By Region, Forecast to 2027
AI In Healthcare Market Analysis By Technology Type (Machine Learning, Computer Vision, Natural Language Processing, Others), By Software Type (AI Platform, AI Solutions, Deployment & Integration, Support & Maintenance), By Hardware Type (Processor, Network, Memory), By Application (Inpatient Care & Hospital Management, Medical Imaging & Diagnostics, Drug Discovery & Research, Virtual Assistants, Others), By End-User Type (Pharmaceuticals & Biotechnology Companies, Hospitals & Healthcare Providers, Patients, Others), By Region, Forecast To 2027
Big Data in Healthcare Market By Component (Software, Services), By Deployment (On-Premises, Cloud), By Analytics Type (Predictive Analytics, Descriptive Analytics), By Application (Clinical Analytics, Financial Analytics), By End User (Hospitals and Clinics), and By Region, Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
Corporate Sales Specialist
Emergen Research | Web: www.emergenresearch.com
Direct Line: +1 (604) 757-9756
Read Full Press Release: https://www.emergenresearch.com/press-release/global-laboratory-informatics-market