Pharmaceutical Firms Segment To Make Notable Contributions Towards Global Laboratory Informatics Market Shares Over 2021-2028, North American Hit Highest Peak

NEW YORK, UNITED STATES, September 28, 2022 /EINPresswire.com/ -- According to the conclusions of a study by Zion Market Research, the Laboratory Informatics Market generated roughly $3.01 billion in revenue in 2020 and is projected to generate approximately $5.9 billion by 2028. In addition, the Laboratory Informatics Market is anticipated to record increases of around 10.1% between 2021 and 2028. Apparently, the growth of the laboratory informatics market over the assessment period can be credited to the surge in the requirement for lab automation, the creation of integrated laboratory services, and the growing requirement of regulations for making pharma & biotech firms adhere to standard protocols. Apart from this, technological innovations in medical equipment will drive business space. In addition to this, the thriving telehealth industry will contribute sizably toward laboratory informatics market growth within the next seven years. Additionally, a prominent increase in the number of diabetics will chart a profitable roadmap for the laboratory informatics market in years to come. The need for high clinical test efficacy and successful patient outcomes is likely to proliferate laboratory informatics industry expansion in forthcoming years. The report offers an assessment and analysis of the Laboratory Informatics Market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2018 to 2020 along with a forecast from 2021 to 2028 based on revenue (USD Billion).

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Key players influencing market surge and profiled in the study include Agilent Technologies, LabWare, Thermo Fisher Scientific, Inc., McKesson Corporation, LabLynx, Inc., LabVantage Solutions, Inc., Core Informatics, ID Business Solutions Limited, PerkinElmer, Inc., Waters Corporation, and Abbott Informatics.

Laboratory Information Management System Segment To Dominate Product Landscape By 2028

The growth of the laboratory information management system segment over the forecast timeframe can be ascribed to its ability to effectively manage sample flow-related data for enhancing the efficiency of lab functions. Furthermore, these systems are used in labs possessing recurring workflow such as quality control labs.

Pharmaceutical Firms Segment To Make Notable Contributions Towards Laboratory Informatics Market Share Over 2021-2028

Segmental growth over the assessment period can be credited to the massive demand for laboratory informatics in pharmaceutical firms. In addition to this, the flourishing of the pharma sector with the outbreak of the COVID-19 pandemic will contribute remarkably towards laboratory informatics market proceeds in the years ahead.

North American Laboratory Informatics Market To Hit Highest Peak Of Growth By 2028

The expansion of laboratory informatics industry in North America over assessment timeline can be credited to large-scale installation of laboratory information systems along with rise in rate of online literacy in countries such as Canada and the U.S. In addition to this, supportive government policies and easy access to best healthcare facilities in region will elicit expansion of laboratory informatics market in sub-continent in years to come.

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.

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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 successful outcome 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.

Read Full Report Summary: https://www.zionmarketresearch.com/report/laboratory-informatics-market

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

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Varsharani Lavate
Zion Market Research
+1 855-465-4651
varsha.l@marketresearchstore.com
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