The global healthcare laboratory informatics market size was valued at USD 2.78 billion in 2023 and is predicted to reach around USD 6.30 billion by 2033, expanding at a CAGR of 8.53% from 2024 to 2033.
Key Points
- The North America healthcare laboratory informatics market size is exhibited at USD 1.20 billion in 2023 and is expected to attain around USD 2.74 billion by 2033, poised to grow at a CAGR of 8.60% between 2024 and 2033.
- North America has held a largest revenue share of 43% in 2023.
- Europe is expected to grow at a significant CAGR in the market during the forecast period.
- By product, the laboratory information management system (LIMS) segment dominated the market in 2023.
- By product, the electronic lab notebook (ELN) segment is expected to grow at the highest CAGR in the market during the forecast period.
- By deployment, the on-premise segment dominated the market in 2023.
- By deployment, the cloud-based segment is expected to grow at the highest CAGR in the market during the forecast period.
- By component, the service segment has contributed more than 67% of revenue share in 2023.
- By component, the software segment is expected to grow at the highest CAGR in the market during the forecast period.
- By end-user, the pharmaceuticals segment dominated the market in 2023.
- By end-user, the clinical segment is expected to grow at the highest CAGR in the market during the forecast period.
The healthcare laboratory informatics market encompasses the integration of information technology and lab processes to optimize efficiency and quality in healthcare settings. It includes solutions for managing and analyzing data generated in laboratories, aiming to enhance decision-making and operational workflows across the healthcare industry.
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Growth Factors
The market for healthcare laboratory informatics is experiencing robust growth due to increasing demand for efficient data management solutions in healthcare facilities. Factors such as technological advancements, rising healthcare expenditure, and the need for better patient outcomes are driving the adoption of informatics solutions in laboratories worldwide.
Region Insights:
North America dominates the healthcare laboratory informatics market, primarily due to advanced healthcare infrastructure, high adoption rates of technology, and supportive government initiatives. Europe follows closely, benefiting from strong healthcare systems and increasing investments in healthcare IT. The Asia-Pacific region is also witnessing rapid growth, driven by expanding healthcare infrastructure and rising awareness about the benefits of laboratory informatics.
Healthcare Laboratory Informatics Market Scope
| Report Coverage | Details |
| Market Size by 2033 | USD 6.30 Billion |
| Market Size in 2023 | USD 2.78 Billion |
| Market Size in 2024 | USD 3.02 Billion |
| Market Growth Rate from 2024 to 2033 | CAGR of 8.53% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Product, Deployment, Component, End-use, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Healthcare Laboratory Informatics Market Dynamics
Drivers:
Key drivers of the healthcare laboratory informatics market include the growing volume of data generated by laboratories, increasing regulatory requirements for data management, and the shift towards personalized medicine. Moreover, the integration of artificial intelligence and machine learning technologies is expected to further propel market growth by enabling more sophisticated data analysis and decision support.
Opportunities:
Opportunities in the healthcare laboratory informatics market include the development of cloud-based solutions, expansion into emerging markets with improving healthcare infrastructure, and the integration of informatics with electronic health records (EHRs) to achieve seamless data exchange and interoperability.
Challenges:
Challenges facing the healthcare laboratory informatics market include concerns related to data security and privacy, interoperability issues between different systems, and the complexity of integrating informatics solutions into existing laboratory workflows. Additionally, resistance to change among healthcare professionals and budget constraints in healthcare institutions pose significant challenges to market expansion.
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Healthcare Laboratory Informatics Market Companies
- Competitive dashboard
- Starlims
- Agilent Technologies
- Benchling, Inc.
- LabVantage Solutions, Inc
- LabWare
- LABLynx, Inc
- PerkinElmer, Inc.
- Tech Mahindra
- Thermo Fisher Scientific
- Waters Corporation
Recent Developments
- In April 2024, UMass Chan Medical School and MITRE, operator of federally funded research and development centers, announced the establishment of the Health AI Assurance Laboratory, a collaborative initiative to advance health artificial intelligence in the public interest. The initiative is at the forefront of efforts in the United States, and the first in Massachusetts, to ensure AI technology in health care is safe and effective for everyone using it.
- In November 2023, CDC’s Tuberculosis Trials Consortium (TBTC) launched an international clinical trial, Combination Regimens for Shortening Tuberculosis Treatment, or CRUSH-TB. This exciting new trial aims to identify new combinations of drugs to provide additional options to shorten the treatment of tuberculosis (TB) disease.
- In February 2023, The life sciences section of Waker Bioscience in Shanghai officially launched the STARLIMS Laboratory Information Management System project. One of the biggest names in Chinese gene therapy risk assessment, Shanghai Waker Bioscience Co., Ltd., has benefited from STARLIMS’s experience by automating processes to increase operational efficiency and comply with laws and long-term digitalization goals.
Segment Covered in the Report
By Product
- Laboratory Information Management System (LIMS)
- Electronic Lab Notebook (ELN)
- Scientific Data Management System (SDMS)
- Chromatography Data System (CDS)
- Laboratory Executive System (LES)
By Deployment
- On-premise
- Cloud-based
By Component
- Service
- Software
By End-use
- Biotech Companies
- Pharmaceuticals
- Clinical
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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