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Laboratory Informatics Market Outlook 2019 | Shows Industry Overview, Size, Share, Remarkable Growth Factors, Types, and Applications Forecast to 2024

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The “Laboratory Informatics Market” 2019 report provides market size (value and volume), market share, growth rate by types, applications, and combines both qualitative and quantitative methods to make micro and macro forecasts in different regions or countries. Laboratory Informatics Market report also aims to provide useful and comprehensive insights into current market trends and future growth scenarios. Laboratory Informatics market report contains information like SWOT analysis, business highlights, strength, weakness, threats and opportunities of industry.

Top Manufacturers of Laboratory Informatics Market Are:

  • Abbott Laboratories (Abbott Informatics Corporation)
  • Agilent Technologies
  • Cerner Corporation
  • McKesson Corporation
  • Thermo Fisher Scientific Inc.
  • LabLynx Inc.
  • LabVantage Solutions Inc.
  • LabWare Inc.
  • PerkinElmer Inc.
  • Waters Corporation

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    Market Overview:

  • The global laboratory informatics market was valued at USD 2,395.69 million in 2018, and is estimated to be valued at USD 3,729.23 million in 2024, witnessing a CAGR of 7.65%. Factors that are driving the market include high accuracy and efficiency of results, increasing applications of lab informatics solutions, and increasing number of diagnoses.
  • Owing to the increased workload, cost constraints, and advancements in technologies, the nature of pathology is rapidly changing, as per the need of the market. New laboratory systems are manufactured with the best technologies to alleviate the current global demand. New approaches for managing laboratory information are now required to fulfill the changing requirements of the healthcare system. The primary concern for clinicians is the accuracy of the information that they get through various resources. However, it was stated by the World Health Organization that around 5% of the patients face diagnostic errors each year in the developed countries, and about 7% of the abnormal test results are not delivered to the patients. Thus, to avoid these diagnostic errors and to provide better services, clinics and laboratories are implementing various tools, such as laboratory information systems (LIS) and LIMS.

    Scope of the Report:

  • Laboratory informatics is the specialized application of information with the help of a platform consisting of equipment, software, and data management tools that allow scientific data to be captured, migrated, processed, and interpreted for immediate use, as well as for future use.

    Laboratory Informatics Market Report Answers the Following Questions:

    • What will the market size and the growth rate be in 2024?
    • What are the key factors driving the global Laboratory Informatics market?
    • What are the key market trends impacting the growth of the global Laboratory Informatics market?
    • What are the challenges to market growth?
    • Who are the key vendors in the global Laboratory Informatics market?
    • What are the market opportunities and threats faced by the vendors in the global Laboratory Informatics market?
    • Trending factors influencing the market shares of the relevant regions.
    • What are the key outcomes of the five forces analysis of the global Laboratory Informatics market?

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    Key Market Trends:

    Laboratory Information Management System is Expected to hold its Highest Market Share in the Product

    In the product segment of the laboratory informatics market, laboratory information management system is believed to have the largest market size and is expected to witness a CAGR of 7.18% during the forecast period.

    LIMS are usually intended for the laboratories having recurring workflows, such as quality control laboratories. LIM system contains a special data structure, and the processes of the laboratory (workflow) should already be established in a certain format. LIMS products have been losing market share to electronic lab notebooks (ELN) and laboratory execution system (LES) in the recent years. This trend can be observed in the sales growth of LES vendors and in the investment of large LIMS providers in the field of ELN and LES. Some of the major players in the market studied, such as LabVantage Solutions Inc., have invested heavily, in order to develop comprehensive and highly integrated LES and ELN capabilities.

    North America Domainates the Market and is Expected to do the Same in the Forecasted Period

    North America currently dominates the market for laboratory informatics and is expected to continue its stronghold for a few more years. This region is expected to increase its market share in the future, owing to the well-established healthcare industry and better reimbursement facilities in the region. The United States holds the majority of the market in the North American region, due to the higher adoption of digital healthcare in the country and the rising investments done by the companies over there.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    The report provides key statistics on the market status of the Laboratory Informatics Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Laboratory Informatics.

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    Report Objectives:

    • Analyzing the size of the Laboratory Informatics market on the basis of value and volume.
    • Accurately calculating the market segments, consumption, and other dynamic factors of different sections of the global Laboratory Informatics market.
    • Determining the key dynamics of the Laboratory Informatics market.
    • Highlighting significant trends of the Laboratory Informatics market in terms of manufacture, revenue, and sales.
    • Deeply summarizing top players of the Laboratory Informatics market and showing how they compete in the industry.
    • Studying industry processes and costs, product pricing, and various trends related to them.
    • Displaying the performance of different regions and countries in the global Laboratory Informatics market.

    Detailed TOC of Laboratory Informatics Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 High Accuracy and Efficiency of Results
    4.2.2 Increasing Applications of Lab Informatics Solutions
    4.2.3 Increasing Number of Diagnoses
    4.3 Market Restraints
    4.3.1 Lack of Integration Standards for Laboratory Informatics
    4.3.2 Lack of Skilled Professionals
    4.4 Industry Attractiveness – Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Product
    5.1.1 Laboratory Information Management System (LIMS)
    5.1.2 Electronic Lab Notebooks (ELN)
    5.1.3 Enterprise Content Management (ECM)
    5.1.4 Laboratory Execution System (LES)
    5.1.5 Chromatography Data System (CDS)
    5.1.6 Scientific Data Management System (SDMS)
    5.1.7 Electronic Data Capture (EDC) and Clinical Data Management Systems (CDMS)
    5.2 By Component
    5.2.1 Services
    5.2.2 Software
    5.3 By Delivery Mode
    5.3.1 On-premise
    5.3.2 Web-hosted
    5.3.3 Cloud-based
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 Germany
    5.4.2.2 United Kingdom
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Abbott Laboratories (Abbott Informatics Corporation)
    6.1.2 Agilent Technologies
    6.1.3 Cerner Corporation
    6.1.4 McKesson Corporation
    6.1.5 Thermo Fisher Scientific Inc.
    6.1.6 LabLynx Inc.
    6.1.7 LabVantage Solutions Inc.
    6.1.8 LabWare Inc.
    6.1.9 PerkinElmer Inc.
    6.1.10 Waters Corporation

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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