Increasing Awareness About Lab Informatics Solutions Leading to the China Laboratory Informatics Market Growth During 2020-25

The China Laboratory Informatics market is growing at a rapid pace due to rising spending toward R&D activities in drug development, increasing awareness about lab informatics solutions, and growing adoption of robotics and process automation in healthcare. Moreover, a boost in expenditure by the companies for advancement in molecular genomics and hereditary testing practices, growing data volume, and escalating degree of adoption of biorepositories and biobanks are leading to a positive impact on the growth of the market in the forthcoming years.

According to MarkNtel Advisors’ research report titled “China Laboratory Informatics Market Analysis, 2020”, the China Laboratory Informatics market is anticipated to grow at a CAGR of around 13% during 2020-25. Based on product type, Laboratory Information Management Systems (LIMS) acquired the largest market share in the China Laboratory Informatics market in 2019. This is due to rising inclination of the major verticals such as pharma and biotechnology, biobank and biorepository etc. toward the adoption of LIMS in order to increase the efficiency of the workforce and to reduce the number of transcription errors. Moreover, increasing adoption of LIMS in biobanks and biorepositories is fueling the growth of the market in the forthcoming years.

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“China Laboratory Informatics Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Laboratory Informatics providers across the country. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Services Segment Acquired the Largest Share in the Market Based on component, service segment acquired the largest market share in the China laboratory informatics market in 2019. The growth of the segment is attributed to adoption of various advanced technologies by the vendors (solution offering), rising deployment of cloud-based solutions among various end-user industries, and growing demand for consulting.

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Based on deployment, cloud-based deployment is growing at a steady rate in the laboratory informatic market owing to the factors such as rising integration of cloud solutions in verticals such as pharma and biotechnology, biobanks and bio repositories, molecular diagnostics, & clinical research labs in order to reduce the operating cost and to have real-time data tracking along with surging advancement in cloud-based software solutions by the market players. Thus, this is expected to spur the growth of the market in the country in the near future as stated in MarkNtel Advisors’ research report “China Laboratory Informatics Market Analysis, 2020”.

According to MarkNtel Advisors, the key players with a considerable market share in the China Laboratory Informatics market are Lab Vantage, LabLynx, Autoscribe, Perkin Elmer, Thermofisher Scientific, Beijing Lab Ware and Sci & Tech Co., Agilent Technologies (Beijing), Abbott Laboratories, Waters Corporation, McKesson Corporation, etc.

Market Segmentation:

1. By Product Type (Electronic Lab Notebooks (ELNs), Laboratory Information Management Systems (LIMS), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management Systems, Laboratory Execution Systems (LES), Enterprise Content Management Systems (ECM), Scientific Data Management Systems (SDMS)),
2. By Components (Service & Software),
3. By Industry (Pharma and Biotechnology, Biobanks and Bio Repositories, Molecular Diagnostics & Clinical Research Labs, Contract Service Organisation, Academia),
4. By Deployment Model (Remote Hosting, On-Premise Model, Cloud-Based Model),
5. By Company (Lab Vantage, LabLynx, Autoscribe, Perkin Elmer, Thermofisher Scientific, Beijing LabWare and Sci & Tech Co., Agilent Technologies (Beijing), Abbott Laboratories, Waters Corporation, McKesson Corporation

Key questions answered in the study:

1. What are the current and future trends of the laboratory informatics industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the laboratory informatics industry?
5. What are the customer orientation, purchase behavior, and expectations from the laboratory informatics firms across various regions?

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