The medical industry report “Healthcare Laboratory Informatics Market Size By Product (LIMS,
ELN, SDMS, CDS, LES), By Deployment (On Premise, Cloud Based), By Component
(Services, Software), By End Use (Biotech Companies, Pharmaceuticals,
Clinical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany,
UK, France, China, Japan, India, Australia, Brazil, Mexico, South Africa, Saudi
Arabia), Application Development, Price Trend, Competitive Landscape &
Forecast, 2017 – 2024”, by Global Market
Insights, Inc. says The emergence of digitization and big data analytics is
providing a major push to healthcare laboratory informatics market outlook,
which is projected to exceed a revenue of USD 1.8 billion by 2024, with 9.5%
CAGR projection.
Over the years, the
escalating growth of healthcare laboratory informatics market has been highly
influenced by the surging requirements of laboratories to comply with a
plethora of regulations. The healthcare space that has been witnessing a
paradigm shift from volume to value-based model is adding a renewed dynamism to
the market. The growing volume and complexity of clinical data are
necessitating the requirement of advanced HTS (high throughput screening) and
UHTS (Ultra high throughput screening) solutions that can efficiently derive
meaningful insights. In addition to this, increasing integration of lab
automation in contract manufacturing and research organizations have
significantly accelerated healthcare laboratory informatics market
commercialization.
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This is quite evident
from the increasing adoption rate of cloud computing technology in the
healthcare organizations lately. Cloud computing technology enables customized
services via internet such as disease monitoring, providing alerts to patients
about the risks, and geospatial mapping. Advancement in virtualization and
increasing access to high-speed internet at low cost is allowing healthcare
organization to readily adapt these advanced technological solutions, leaving a
subsequent impact on healthcare laboratory informatics market dynamics.
The renewed healthcare
fraternity where cost effective value-based models have become imperative, the
industry giants are vigorously exploiting the potential growth prospects of the
market. Strategic acquisitions, geographical expansion, and business
partnerships are some of the major strategies adopted by the companies to
maintain their position in the global healthcare laboratory informatics
industry. Leading companies are also integrating informatics solutions to have
a competitive edge in the competitive business landscape. Abbott Informatics,
Perkin Elmer, Thermo Fisher, Perkin Elmer, LabVantage, LabWare, Lablynx, and
Core Informatics are some of the top companies witnessing a strong ground in
the overall healthcare laboratory informatics market.
Browse key industry insights spread across 120 pages
with 98 market data tables & 15 figures & charts from this 2017 report Healthcare Laboratory Informatics Market in
detail along with the table of contents at:
Based on the product
trends, LIMS (Laboratory Information Management Systems) dominated the global
share in 2016. The prime trigger that is enhancing the LIMS based healthcare
laboratory informatics market share is its increasing deployment in biobanks.
Increasing proliferation of integrated healthcare solutions that require
advanced systems to manage a chain of services such as online request
management, data security, regulatory compliance, client billing, and patient
demographics have significantly increased healthcare laboratory informatics
market demand. Other than LIMS, scientific data management systems are also
expected to chart an appreciable growth in the years ahead, with a CAGR projection
of 9% over 2017-2024.
Overall, healthcare
laboratory informatics market share from services observed a notable surge in
2016, covering almost half of the overall volume. The trend is likely to
continue in the same line over the coming years, subject to its low internal IT
resource requirement and comparatively lower capital investment. Software based market will also witness
substantial growth, driven by the increasing demand for technologically evolved
scientific data integrated software solutions in clinics and hospitals. Having
said that, it is imperative to note that clinics will cover a major portion of
the healthcare laboratory industry share in the coming seven years. Growing
incorporations of laboratory informatics for health information tacking and
quality assurance is further fueling the overall industry trend.
Regionally, healthcare
laboratory informatics market has spread its wings mainly across China, U.S.,
and Germany. The expanding healthcare IT industry in these nations remains the
common ground for the regional market growth. Germany’s increasing adoption of
cost-effective workflow management system has led the country to achieve a
global domination in the overall healthcare laboratory informatics market in
2016. China market will also carve a positive growth chart in the years ahead
subject to the ongoing research investments undertaken by both private and
public agencies along with spreading healthcare awareness.
Laboratories play a
pivotal role in the latest healthcare outcome – based business model. Laboratory
information coupled with its scientific data integrated solutions have now
become a vital component in the healthcare IT. Despite the fact that healthcare
laboratory informatics industry is characterized by some of the major
challenges such as unavailability of skilled and trained personnel and
instructors that might hamper the industry’s growth path, yet the rapid pace of
technological developments and its imprint in medical space will bring a
revolutionary change in the way healthcare laboratory informatics market has
been perceived so far.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: https://gminsights.wordpress.com
Connect with us: Facebook | Google+ | LinkedIn | Twitter
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