Healthcare Laboratory Informatics Market Scope
Healthcare data informatics is a software that helps in storing, capturing, managing, and transmitting a patient’s information on a health care system. This software helps doctors and patients to analyze the healthcare data for effective decision making. These software helps in reducing human errors, cost, and operational errors as well as provides better healthcare services. These systems handle data related to the activities of providers and health organizations. The growing need for clinical workflow management will boost the demand for healthcare laboratory informatics globally.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Player Names Abbott Informatics (United States), Agaram Technologies Pvt Ltd (India), AgileBio LLC (United States), Agilent Technologies (United States), CSols Inc. (United States), Genologics (Canada), ID Business Solutions Ltd. (United Kingdom), Infosys (India), LabLynx, Inc. (United States), LabVantage Solutions, Inc. (United States), LabWare (United States), PerkinElmer, Inc. (United States) and Tech Mahindra (India) |
CAGR | 20.3% |
The global healthcare laboratory informatics market is fragmented by numerous key players who have the bargaining power high in this market as there are many regional manufacturers. The intensity of rivalry appears to be high in this market as competitors are numerous and the products are undifferentiated. Major companies in this market are constantly working towards introducing innovative products & services to enhance their market presence. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Healthcare Laboratory Informatics market throughout the predicted period.
Player Names Abbott Informatics (United States), Agaram Technologies Pvt Ltd (India), AgileBio LLC (United States), Agilent Technologies (United States), CSols Inc. (United States), Genologics (Canada), ID Business Solutions Ltd. (United Kingdom), Infosys (India), LabLynx, Inc. (United States), LabVantage Solutions, Inc. (United States), LabWare (United States), PerkinElmer, Inc. (United States) and Tech Mahindra (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Thermo Fisher Scientific (United States) and Waters Corporation (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Healthcare Laboratory Informatics market by Type , by Application (Biotech Companies, Pharmaceuticals, Environmental Testing Laboratories and Other) and Region with country level break-up.
On the basis of geography, the market of Healthcare Laboratory Informatics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In December 2020, DataLink completed acquisition of Orizon360°, a healthcare data integration and financial informatics company. This acquisition expanded the DataLink’s capability in advancing clinical data connectivity, payer-agnostic data integration and risk and quality management for our new and current customers.
In December 2022,LabVantage Solutions, Inc., the leading provider of laboratory informatics solutions and services, including purpose-built LIMS solutions that allow labs to go live faster and at a lower total cost, today announced the launch of version 8.8 of its industry-leading LabVantage LIMS platform
Influencing Trend:
Technological Advancements In Software Solutions
Market Growth Drivers:
Rising Demand Of Scientific Data Integration Solutions and Increasing Need For Clinical Workflow Management
Challenges:
Interfacing With Diverse Laboratory Instruments
Restraints:
High Maintenance And Service Costs
Opportunities:
Increasing Availability Of Cost-Effective Informatics Solutions and Significant Growth Potential In Emerging Countries
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Healthcare Laboratory Informatics Providers, Cloud Service Providers, Venture Capitalists, Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry