Healthcare Laboratory Informatics Market burst to hit $1.8bn by 2024

Sellbyville, DE -- (SBWire) -- 11/20/2018 --The Healthcare Laboratory Informatics Market will exceed USD 1.8 billion by 2024; as per a new research report by Global Market Insights, Inc.
Adoption of technologically advanced software solutions and use of laboratory information management systems allow better diagnosis and improve regulatory compliance. Innovations such as high throughput screening (HTS) technology, ultrahigh throughput screening (UHTS) instruments and cloud based solutions will further stimulate industry growth. However, industry growth may be hindered by lack of trained professionals, increasing competitiveness and lack of integration standards.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- Thermo Fisher Scientific
- PerkinElmer, Inc.
- LabWare
- Core Informatics
- Infosys
- Waters Corporation
- ALTEN Calsoft Labs
- IDBS
- Agilent Technologies
- LabVantage Solutions, Inc
- LabLynx, Inc. (LabLynx LIMS)
- AgileBio
- CloudLIMS
- Agaram Technologies
- CSols Inc.
- Tech Mahindra

Laboratory Information Management Systems (LIMS) will witness lucrative growth due to lesser errors and easy data tracking. However, the growing demand in research industries and life sciences to reduce the number of errors in qualitative analysis and data management should drive the segment growth. Cloud-based solutions will exhibit significant growth due to its increasing adoption by healthcare organizations. Cloud-based big data services such as SaaS, PaaS, IaaS, CaaS, XaaS, and Maas are being introduced in many healthcare organizations to provide quick access to information at low cost.

Services contributed to over 50% of industry share owing to its increasing acceptance due to low capital and resource requirement. Growing popularity of could services has fueled the use of software as a services(SaaS) over the coming years. Clinics will witness significant growth over the coming years. Growing use of laboratory informatics for patient health information tracking, patient engagement, and quality assurance is expected to fuel the business growth.

U.S. healthcare laboratory informatics market should witness significant growth over the forecast years. Favorable government initiatives and boom in health IT will stimulate business growth. Furthermore, rising demand for quality diagnosis with minimum errors and integration of laboratories with information systems will fuel the industry growth. Germany held the largest regional revenue share in 2016 due to technological advances in healthcare IT and the growing demand for cost effective workflow management systems.

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Laboratory Informatics Market in Healthcare by Product
o Laboratory Information Management System (LIMS)
o Electronic Lab Notebook (ELN)
o Scientific Data Management System (SDMS)
o Chromatography Data System (CDS)
o Laboratory Execution System (LES)

Laboratory Informatics Market in Healthcare by Deployment
o On premise
o Cloud based

Laboratory Informatics Market in Healthcare by Component
o Services
o Software