China Laboratory Informatics Market Size, Share, Demand, Trends, Growth and Forecast Analysis Report With COVID19 Impacts

The China Laboratory Informatics Market is expected to grow at a CAGR of more than 10% in the forecast period of 2021-26, says MarkNtel Advisors in their research report. The continuously emerging need for automation in laboratories, coupled with integrated system development for labs, shall drive the market during 2021-26.

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Moreover, the prime demand for laboratory informatics solutions emerges from biobanks & biorepositories. China is amongst the largest healthcare markets worldwide, mainly due to the massive demography, aging population, frequent epidemics, etc. Hence, the demand for laboratory informatics solutions is significantly increasing in the country.

Furthermore, the need for modernization of several laboratories with sophisticated IT integration is surging to enhance their operational efficiencies, which is another crucial aspect expected to boost the country’s laboratory informatics market in the years to come.

Key Questions Answered in the Study
1. What are the current & future trends in the China Laboratory Informatics Market?
2. How has the industry been evolving in terms of geography & service adoption?
3. How has the competition been shaping across China, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the China Laboratory Informatics Market?
5. What are the customer orientation, purchase behavior, and expectations from Laboratory Informatics providers across China?

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Biobank & Biorepositories Registered the Fastest Growth During 2016-20

Based on the Industry, the market bifurcates into:
• Pharma and Biotechnology
• Biobanks & Bio Repositories
• Molecular Diagnostics & Clinical Research Labs
• Contract Service Organization
• Academia
• Food and Beverage
• Chemical Industry
• Petrochemical Refinery & Oil and Gas Industry

Of these segments, Biobanks & Biorepositories registered the fastest growth in the China Laboratory Informatics Market during 2016-20. The growing deployments of laboratory informatics across biobanks in China attributes to its ability to manage the entire lifecycle of samples & their data. In 2016, the country established its first national-level gene storage bank, China National GeneBank (CNGB), approved & funded by the Chinese government. It aims to promote life science research & innovation through effective bio resource digitalization & conservation.

Moreover, during 2010-19, several biobanks across the country have emerged while many that have strengthened their operations include China Kadoorie Biobank, Shanghai Zhangjiang Biobank, etc. Besides this, several hospitals & specialty care centers are also establishing biobanks to explore the growing market potential.

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“China Laboratory Informatics Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.

Cloud-Based Model Dominated the China Laboratory Informatics Market
Based on the Deployment Mode, the market segments into:
• Remote Hosting
• On-Premise Model
• Cloud-Based Model

Of these three, the Cloud-Based Model held the largest share of the China Laboratory Informatics Market in the previous few years. The segment growth attributes to the mounting adoption of the cloud-based model in the healthcare industry to enhance their operations.

Cloud, being flexible, efficient, and enables lab specialists to focus on lab priorities rather than IT infrastructure, is a feasible option for most of the computing workload in the laboratory, from sample management to complex analytics to secure data storage. Hence, these aspects led the segment to attain the largest market share in the previous years, reveals MarkNtel Advisors in their research report, “China Laboratory Informatics Market Analysis, 2021.”

According to MarkNtel Advisors, the leading industry players in the China Laboratory Informatics Market include Lab Vantage, LabLynx, Autoscribe, Perkin Elmer, Thermofisher Scientific, Beijing LabWare Sci & Tech Co., Agilent Technologies (Beijing), Abbott Laboratories, Waters Corporation, and McKesson Corporation.

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 & Bio Repositories, Molecular Diagnostics & Clinical Research Labs, Contract Service Organization, Academia, Food and Beverage, Chemical Industry, Petrochemical Refinery & Oil and Gas Industry)
4. By Deployment Model (Remote Hosting, On-Premise Model, Cloud-Based Model)
5. By Competitors (Lab Vantage, LabLynx, Autoscribe, Perkin Elmer, Thermofisher Scientific, Beijing LabWare Sci & Tech Co., Agilent Technologies (Beijing), Abbott Laboratories, Waters Corporation, McKesson Corporation)

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About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.