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Lab Informatics Market Size, Growth, Trends, Industry Forecast 2026 | Valuates Reports
The Laboratory Informatics Market is estimated to grow at the rate of 7.4% CAGR by 2026.
Major factors driving the growth of the laboratory informatics market are:
• The market is expected to increase due to the increasing use of laboratory information management systems to assist hospital-based laboratories in reducing diagnostic errors and handling large amounts of data.
• Furthermore,there is an increasing need for laboratory automation and the need to comply with regulatory standards.
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TRENDS INFLUENCING THE GROWTH OF LABORATORY INFORMATICS MARKET
Within the healthcare and life science communities, a huge amount of data is being collected. Data integration solutions are required for proper processing and reaching a satisfactory conclusion from obtained data. Thus the increase in the amount of data collected and a rising need for the real-time outcome is expected to drive the growth of the laboratory informatics market.
Laboratories are essential in the life sciences and medical research industries for both manufacturing and research. The fundamental goal of a laboratory is to ensure the development of high-quality, dependable experiment data that complies with industry regulatory criteria. The rapid collection of huge amounts of data from many parts of research and development, quality assurance, and manufacturing has resulted from technological advancements paired with severe regulatory requirements and increasing commercial demands.
The increasing regulatory burden for the deployment of lab automation systems is likely to provide profitable growth prospects for the laboratory informatics market. Robotics and process automation are being more widely used in healthcare, making operations more reproducible and repeatable. In order to save time, it is now feasible to set up, perform, and analyze experiments in less time. The growing use of high-throughput technologies has allowed for more efficient evaluation of experimental results, which has improved laboratory efficiency overall.
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LAB INFORMATICS MARKET SHARE
Based on product, LIMS accounts for a considerable portion of the market's growth.
The LIMS solution is mostly used in the life sciences and research business to eliminate data management errors and improve the quality of research information analysis. These elements are projected to boost the segment's growth.
Based on delivery mode, the cloud-based distribution option helps to store a large amount of data offsite, freeing up space on devices and allowing data retrieval according to the customer's needs. As a result, the cloud-based delivery option has a substantial market share in laboratory informatics.
Based on service, the service segment accounted for the highest share in the market growth.
This is owing to a rise in the outsourcing of LIMS solutions and an increase in the demand for outsourced services by major pharmaceutical research labs, which lack the resources and skill set needed for analytics deployment.
Because of variables such as strategies that facilitate the use of laboratory informatics and infrastructure with high digital literacy, North America has a significant market share. Furthermore, rising healthcare expenditures and the growing burden of cost containment are adding to market growth in this region.
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LABORATORY INFORMATICS MARKET SEGMENTATION
by Product
• Laboratory Information Management Systems (LIMS)
• Electronic Lab Notebooks (ELN)
• Scientific Data Management Systems (SDMS)
• Laboratory Execution Systems (LES)
• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
• Chromatography Data Systems (CDS)
• Enterprise Content Management (ECM).
by Delivery Mode
• On-premise
• Web-hosted
• Cloud-based.
by Component
• Software
• Services.
by End-use
• Life Sciences
• CROs
• Chemical Industry
• Food and Beverage and Agriculture Industries
• Environmental Testing Laboratories
• Petrochemical Refineries & Oil and Gas Industry
• Other Industries.
by Geography
• North America
• Europe
• Asia Pacific
• Rest of the World.
•
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Similar Reports:
1. Healthcare Laboratory Informatics Market: https://reports.valuates.com/market-reports/QYRE-Auto-6B3384/global-healthcare-laboratory-informatics
2. Enterprise Laboratory Informatics Market: https://reports.valuates.com/market-reports/QYRE-Auto-39L2924/global-enterprise-laboratory-informatics
3. LIMS Market: https://reports.valuates.com/market-reports/QYRE-Auto-27L575/global-laboratory-information-management-system-lims
4. EDC Systems Market: https://reports.valuates.com/market-reports/QYRE-Auto-22V3391/global-and-united-states-electronic-data-capture-edc-systems
5. Lab Automation Software Market: https://reports.valuates.com/market-reports/QYRE-Auto-3L1442/global-lab-automation-software
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