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(IT-NEWSWIRE.COM, August 10, 2018 ) Healthcare Laboratory Informatics Market to exceed USD 1.8 billion by 2024; according to a new research reports.
Rising demand for data management solutions from end user industries such as contract research organizations, chemical, life sciences and food and beverage industry will drive healthcare laboratory informatics market. Availability of cost-effective technologically advanced healthcare informatics systems enhancing accuracy in diagnosis along with data integration application will stimulate market growth over the forecast period.
Technological advancements include ultrahigh throughput screening (UHTS) instruments, high throughput screening (HTS) technology and cloud based data integration solutions. It offers clinical work flow management and lab automation along with reduced diagnostic errors and time required for data integration. Dearth of skilled professionals and integration standards will hinder healthcare laboratory informatics market over the coming years.
Laboratory Information Management System (LIMS) market should grow at lucrative rate due to multifactorial benefits including error reduction and data tracking delivered by the systems. Furthermore, rising adoption of LIMS systems by biobanks and other end user industries for optimal work flow management will accelerate product demand.
Cloud-based solutions will witness significant growth during the forecast period owing to real time access to data and data entry at low cost offered by this system. Cloud based software such as IaaS, SaaS, CaaS and XaaS offering big data management solution will propel segment growth.
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Healthcare laboratory informatics services market will witness significant progress over the forecast period owing to reduced capital requirement and swift rate of deployment. Rising demand for cloud based big data management software will further stimulate market growth.
Clinicals segment will grow considerably during the forecast timeframe due to growing adoption of laboratory information management systems (LIMS) in clinics to reduce diagnostic errors and enhance accuracy levels coupled with clinical work flow management and clinical lab automation.
U.S. healthcare laboratory informatics market should grow at a significant CAGR over the forecast period. High technology adoption, development of IT industry and growing demand for optimal diagnosis will drive business growth. Germany will exhibit lucrative growth over the coming years. Rising demand for data integration applications, growing health awareness and high adoption of cutting edge technologies will drive industry growth.
Healthcare infrastructure development, rising healthcare expenditure and growing demand for precise diagnostics will drive China healthcare laboratory informatics market over the forecast timeframe. Growing investment in R&D by industry players such as Abbott Informatics will fuel business growth.
Key industry players include Abbott Informatics, LabVantage, Thermo Fisher, Agilent Technologies and Perkin Elmer. Industry participants are focusing on R&D activities to develop technologically advanced healthcare laboratory informatics systems at lower cost to satisfy growing demand and consolidate market position. Rising demand for big data management software applications such as SaaS will accelerate industry growth during the forecast period.
Global Market Insights, Inc.
Arun Hegde
1-888-689-0688
sales@gminsights.com
Source: EmailWire.Com 
Source: EmailWire.com
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