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Laboratory Informatics Market 2019 Significant Growth Rate by Industry Size, Share, Market Dynamics, Development Status of Key Players Forecast to 2024

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The “Laboratory Informatics Market” research report 2019-2024 delivers comprehensive information and valuable insights about the Laboratory Informatics industry. The information available in the Laboratory Informatics market report is not only based on the facts but also on the case studies, which analysts have included to convey appropriate information to the clients in a well-versed manner. Laboratory Informatics market report includes valuable information to assist new entrants, as well as established players, to understand the prevailing trends in the market.

Some Companies Are Covered in the Laboratory Informatics Market:

  • 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.

    Reasons for Buying Laboratory Informatics Market Report:

    • This report provides pin-point analysis for changing competitive dynamics
    • It provides a forward looking perspective on different factors driving or restraining market growth
    • It provides a five-year forecast assessed on the basis of how the market is predicted to grow
    • It helps in understanding the key product segments and their future
    • It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
    • It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments

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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.

    Laboratory Informatics Market Report Provides Comprehensive Analysis of:

    • Functional market industry outline
    • Up and downstream industry examination
    • Channels and propositions believability
    • Market challenge by key players
    • Enhancement suggestions examination

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    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

    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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