Healthcare Laboratory Information Market Surpass - US$ 4.32 billion by 2028 | CAGR 8.7% from 2021 to 2028 Report by Acumen Research and Consulting

Pune, INDIA


LONDON, Oct. 27, 2021 (GLOBE NEWSWIRE) -- The global Healthcare Laboratory Information Market size is estimated to grow a CAGR above 8.7% over the forecast timeframe and reach a market value of around USD 4.32 billion by 2028.

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The healthcare laboratory information market is growing because of the increasing number of patients registering and undergoing numbers of tests in medical and pharma labs. An exponential amount of healthcare data is generated every day due to several tests, experiments, and research & development activities. To store this bulk volume of personal data within safe hands healthcare lab information uses many advanced applications. One such application is the laboratory information management system (LIMS). A LIMS is an advanced solution that processes, stores, and manages data from all phases of medical tests and processes.

In recent years, technological advancements in laboratory automation have led to higher specimen volumes and a greater demand and reliance on laboratory data to support clinical and public health needs. Key players operating in the healthcare laboratory information market are launching new solutions and technologies to reduce the complex procedure of handling confidential patients’ data. For instance, in September 2021, Benchling launched new solutions that allow researchers and scientists to effortlessly move from research through development within a single system for the first time. The R&D Cloud offered by Benchling is designed to accommodate both the speed and flexibility needed for research efficiency and the control and compliance required for regulated processes.

Key factors driving the growth of the global healthcare laboratory information market are rising implementation of laboratories automation, growing need for clinical workflow management, and advancements in LIMS technology. Moreover, innovations in laboratory solutions and the increasing demand from emerging economies are the factors that are likely to create numerous growth opportunities for the market in the coming years.

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Laboratory information management systems (LIMS) led the global healthcare laboratory information market in 2020

The LIMS segment occupied the majority of the share in 2020 due to the growing demand for LIMS in large laboratories, pharma companies, and research institutes. Lab technicians and physicians use LIMS to coordinate array of patient medical testing, such as chemistry, microbiology, hematology, and immunology. Therefore, to seamlessly handle complex laboratories data, LIMS technology is in huge demand for the past few years.

The cloud-based deployment model is expected to lead the market in coming years

Healthcare lab information solutions store the data either on the cloud or the on-premises. The market is inclined towards cloud-based storage because it grants access to the data from multiple systems across multiple locations. Moreover, the cloud-based deployment model also offers some benefits over on-premises such as faster implementation time, automatic updates, reduced need for internal IT support, and high security.

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Among end-user, pharmaceutical and biotechnology labs acquired the largest market shares

In 2020, pharmaceutical and biotechnology labs dominated the market with the largest shares and are expected to continue its trend throughout the forecast period from 2021 to 2028. The high growth in the segment is attributed to the growing demand for R&D activities in pharma and biotech labs and the presence of advanced medical devices in these labs.

Regional Outlook

In 2020, the North American region led the global healthcare laboratory information market with a considerable margin. The presence of several key players in the region, growing awareness among patients, and support from government organizations are the key aspects contributing to the growth of the North American market. Meanwhile, the Asia Pacific is anticipated to witness the fastest growth throughout the forecast period from 2021 to 2028. The growing base of patients in countries such as China and India is primarily contributing to the growth of the APAC healthcare laboratory information market.

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Healthcare and Laboratory Labels Market

Laboratory Equipment and Disposables Market

Clinical Laboratory Services Market

Major Players

The healthcare laboratory information Market is consolidated with a large number of players. The key players profiled in the report include Abbott, Agaram Technologies Pvt Ltd, AgileBio LLC, Agilent Technologies, Benchling, Inc., CSols Inc., Genologics, LabLynx, Inc., ID Business Solutions Ltd., Infosys, LabVantage Solutions, Inc., LabWare, PerkinElmer, Inc., Starlims, Tech Mahindra, Thermo Fisher Scientific, and Waters Corporation.

Players across the world are emphasizing to increase their footprint by numerous business expansion activities such as product launch, innovations, mergers & acquisition, collaborations, etc. For instance, Agilent Technologies Inc. announced that it has agreed to acquire Genohm, a privately held developer of highly differentiated cloud-based and on-premise software solutions for laboratory management. This acquisition enables Agilent to provide a separate informatics solution across laboratory and operational domains.

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