Laboratory Informatics Market Size, Share, Growth Report 2032

Laboratory Informatics Market Size

According to a report from Zion Market Research, the global Laboratory Informatics Market was valued at USD 3.78 Billion in 2023 and is projected to hit USD 6.20 Billion by 2032, with a compound annual growth rate (CAGR) of 5.1% during the forecast period 2024-2032.

This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Laboratory Informatics Market industry over the next decade.

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Laboratory Informatics Market: Overview

Laboratory informatics is the use of computing & information tools for effectively handling information management activities in pathology labs. Need for proficiently handling huge volumes of lab data through use of various computing techniques has culminated into tremendous demand for laboratory informatics in recent years. The scenario of pathology solutions is changing drastically due to surging workloads, cost constraints, and technological breakthroughs. In view of this, laboratories are required to fulfill the demand for information swapping with medical electronic record systems and these require use of smart information systems that can facilitate effective interaction between clinicians and lab information specialists. This is predicted to enlarge demand and scope of laboratory informatics.

Informatics has gained paramount significance in lab medicine with former becoming most powerful tool in pathology for the implementation of procedures that has resulted in the improvement of pathological services. In context of the information depicted above, one can draw a brief sketch of laboratory informatics as the tool that aims in achieving the seamless integration of lab data into overall clinical pathway. Reportedly, trends in healthcare informatics are reflected in present priorities of lab medicine such as information security, integrated electronic records, computerized order entry, and audit & recovery. This will proliferate lab informatics demand in near future.

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Laboratory Informatics Market: Growth Drivers

Emergence of effective laboratory medicine service serving as information product and enabling clinicians in taking accurate decisions has resulted in a successful outcomes for patients. This, in turn, will augment growth of laboratory informatics industry. Easy availability of IT tools for fulfilling service requirements of pathological labs will drive laboratory informatics market trends. Need for improving lab-to-lab communications is projected to provide new growth avenues for laboratory informatics market in foreseeable future. Global nature of lab diagnostics business and issues pertaining to direct patient access to health records will embellish laboratory informatics market size. Large-scale use of advanced decision support systems & data mining activities in pathological labs for clinical test selection, down screening, validation of test results, image analysis, risk analysis, and clinical reporting will expand scope, penetration, and growth of laboratory informatics market.

Furthermore, laboratory IT tools have become a de facto prerequisite for improving lab operations and clinical services. This is based on observation that lab systems are most advanced tools used in any healthcare firm and they are apportioned highest importance in medical sector. This is the main reason as to why demand for laboratory informatics is gaining momentum across globe. All these aforementioned aspects are projected to profitably impact growth of laboratory informatics market. However, altering landscape of healthcare informatics with emergence of new electronic health record tools has posed a threat to expansion of pathology computing activities, thereby creating obstacles in path of laboratory informatics market surge.

Laboratory Informatics Market: Report Scope

Laboratory Informatics Market: Regional Analysis

North American Market To Reach Number One Position In Terms of Growth in Size & Revenue By 2032

Emergence of laboratory informatics market in North America over upcoming years can be credited to large-scale deployment of lab information systems in countries such as the U.S. severely affected by COVID-19 pandemic. Rise in bio-banks and easy access to lab informatics products & services will steer expansion of laboratory informatics industry in North America. Well-established healthcare infrastructure & adoption of digital healthcare activities has also contributed immensely towards laboratory informatics market growth in region.

Laboratory Informatics Market: Competitive Players

Some of the mammoth players have established a strong position & brand name in laboratory informatics market through their proficient & seamless service delivery and durable products. We have profiled them in our market research report and they are:

• LabWare
• Thermo Fisher Scientific Inc.
• LabLynx Inc.
• Core Informatics
• PerkinElmer Inc.
• Agilent Technologies
• Waters Corporation
• McKesson Corporation
• ID Business Solutions Limited
• LabVantage Solutions Inc.
• Abbott Informatics

The global Laboratory Informatics Market is segmented as follows:

By Product

• Electronic Lab Notebooks
• Laboratory Information Management System
• Enterprise Content Management
• Laboratory Execution System
• Chromatography Data System
• Scientific Data Management System
• Electronic Data Capture
• Clinical Data Management Systems

By End-Use Industry

• Contract Research Organization
• Chemical Industry
• Pharmaceutical Firms
• Biotech Firms
• Oil & Gas Industry
• Farming

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa