Healthcare Laboratory Informatics Market Size to Register USD 1.8 billion During the Period 2017 - 2024

MaketStudyReport.com adds a New Healthcare Laboratory Informatics Market Research Report for the period of 2017 - 2024 that shows the growth of the market is rising at 2024.
Healthcare Laboratory Informatics Market size will exceed USD 1.8 billion by 2024; as per a new research report.
Laboratory Information Management Systems (LIMS) will witness lucrative growth due to lesser errors and easy data tracking. However, the growing demand in research industries and life sciences to reduce the number of errors in qualitative analysis and data management should drive the segment growth.
Cloud-based solutions will exhibit significant growth due to its increasing adoption by healthcare organizations. Cloud-based big data services such as SaaS, PaaS, IaaS, CaaS, XaaS, and Maas are being introduced in many healthcare organizations to provide quick access to information at low cost.
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The above information is provided on a regional and country basis for the following:
 North America
 Europe
 Asia Pacific
 Latin America
 MEA
Healthcare Laboratory Informatics Downstream Derivatives Market Potential
• Laboratory Information Management System (LIMS)
• Electronic Lab Notebook (ELN)
• Scientific Data Management System (SDMS)
• Chromatography Data System (CDS)
• Laboratory Execution System (LES)
Healthcare Laboratory Informatics preparation market by Application:
• Biotech companies
• Pharmaceuticals
• Clinicals
Laboratory Informatics Market in Healthcare by Deployment
• On premise
• Cloud based
Laboratory Informatics Market in Healthcare by Component
• Services
• Software
Growth drivers:
• Rising demand of scientific data integration solutions in developed countries
• Technological advances in software solutions in developed markets
• Increasing R&D activities in Asia Pacific
• Growing market penetration rates in emerging countries
• Rising demand for cost-effective workflow management systems in developing economies
• Industry pitfalls & challenges
• Dearth of integration standards
Rising demand for scientific data integration solution will drive global healthcare laboratory informatics market. Shift in trend from biological and scientific mechanisms to advancements driven by data integration patterns should propel business growth.
Adoption of technologically advanced software solutions and use of laboratory information management systems allow better diagnosis and improve regulatory compliance. Innovations such as high throughput screening (HTS) technology, ultrahigh throughput screening (UHTS) instruments and cloud based solutions will further stimulate industry growth. However, industry growth may be hindered by lack of trained professionals, increasing competitiveness and lack of integration standards.
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Healthcare Laboratory Informatics on the basis Key insights from the report include:
Services contributed to over 50% of industry share owing to its increasing acceptance due to low capital and resource requirement. Growing popularity of could services has fueled the use of software as a services(SaaS) over the coming years.
Clinics will witness significant growth over the coming years. Growing use of laboratory informatics for patient health information tracking, patient engagement, and quality assurance is expected to fuel the business growth.
U.S. healthcare laboratory informatics market should witness significant growth over the forecast years. Favorable government initiatives and boom in health IT will stimulate business growth. Furthermore, rising demand for quality diagnosis with minimum errors and integration of laboratories with information systems will fuel the industry growth.
Germany held the largest regional revenue share in 2016 due to technological advances in healthcare IT and the growing demand for cost effective workflow management systems.
China healthcare laboratory informatics market will witness robust growth over the coming years due to increasing R&D expenditure by the private and public agencies coupled with increasing level of health awareness.
Brazil will experience robust growth due to adoption of comprehensive enterprise integration solution to streamline business operations. Increasing R&D expenditure in biotech and pharmaceutical companies has gradually increased to develop cost effective and technologically advanced solutions over the forecast years.
Key industry players in healthcare laboratory informatics market include Abbott Informatics, Perkin Elmer, Thermo Fisher, and LabVantage. These players are consolidating their market position by adopting advanced technologies, entering into partnerships, and collaborating for geographical expansion.
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