Global Laboratory Informatics Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Laboratory Informatics Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by Trusted Business Insights. The global laboratory informatics market report has been segmented on the basis of product, deployment mode, component, end-use, and region.

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Global Laboratory Informatics Market: Overview

Laboratory informatics is one of the application that are related to data management tools, platform of instruments, software that helps in allowing scientific data that can be processed, captured, and interpreted for immediate use and also managing, storing, and sharing for supporting future research and development. Laboratory informatics is the specialized application of information technology for extending and optimizing laboratory operations through a platform of data management tools, software, instruments.

Global Laboratory Informatics Market: Dynamics

Rapid technological advancements in various molecular genomics and hereditary testing practices and shifting customer inclination towards cancer genomics studies, personalized medicine and increasing patient engagement requirements are among the other major factors that drive the growth of the laboratory informatics market. In addition, increasing adoption of laboratory information management systems.

Increasing afflictions from various regulatory authorities for implementation lab automation systems and increasing adoption of robotics and process automation in healthcare has reduced operations.

Increasing burden from supervisory authorities for implementing lab automation systems and increasing adoption of process automation and robotics in healthcare helps in rendering operations repeatable and reproducible are among major opportunities in the global laboratory informatics market.

Rising technological advancements in hereditary testing practices and molecular genomics are among the major factor expected to drive the growth of global laboratory informatics. In addition, increasing adoption of laboratory information management systems as it helps in hospital-based labs for reducing the incidence of diagnostic errors and also helps in managing high data volumes and increasing adoption of biorepositories and biobanks and many research institutes are among the other factors that drive the growth of global laboratory informatics market.

However, the lack of trained professionals and a lack of integration standards in laboratory information is hampering the growth of the global market.

Global Laboratory Informatics Market: Segment Analysis

Laboratory information management system is mostly used as they are useful in hospital labs due to increasing adoption of LIMS in hospital & research labs and rising application scope for workflow management, patient health information tracking, billing, patient engagement, and quality assurance.

Cloud-based deployment mode is one of the most useful modes as on-demand self-serving analytics as it does not require any investments for hardware.

Global Laboratory Informatics Market: Region Analysis

North America region is opting for laboratory informatics as there is a growing demand for the amalgamation of laboratory systems, increasing funding from the government for research activities, a growing number of biobanks, easy availability of laboratory informatics services, and strict government regulations across various industries. Thus, market in North America is expected to register significant revenue share in the global market.

The laboratory informatics market in Asia Pacific is expected for contributing highest market share in the global market due to the increasing number of CROs who are offering LIMS in this region. Increasing demand for laboratory informatics in countries such as Japan and China due to increasing need for contain operational costs acquired in information management and analysis is also one of the factor that fuels the growth of the market in Asia Pacific region.

Global Laboratory Informatics Market Segmentation:

Segmentation by Product:

Laboratory Information Management Systems (LIMS)
Electronic Lab Notebooks (ELN)
Scientific Data Management Systems (SDMS)
Laboratory Execution Systems (LES)
Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
Chromatography Data Systems (CDS)
Enterprise Content Management (ECM)

Segmentation by Delivery mode:

On-premise
Web-hosted
Cloud-based

Segmentation by Component:

Software
Services

Segmentation by End-use:

Life Sciences
CROs
Chemical Industry
Food and Beverage and Agriculture Industries
Environmental Testing Laboratories
Petrochemical Refineries & Oil and Gas Industry
Other Industries (Forensics and Metal & Mining Laboratories)