Healthcare Laboratory Informatics Market Size By Product (Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Scientific Data Management System (SDMS), Chromatography Data System (CDS), Laboratory Execution System (LES)), By De

Healthcare Laboratory Informatics Market Size By Product (Laboratory Information Management System (LIMS), Electronic Lab Notebook (ELN), Scientific Data Management System (SDMS), Chromatography Data System (CDS), Laboratory Execution System (LES)), By Deployment (On Premise, Cloud Based), By Component (Services, Software), By End-Use (Biotech Companies, Pharmaceuticals, Clinical), COVID-19 Impact Analysis, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Healthcare Laboratory Informatics Market is expected to register massive growth through 2032 owing to the rising availability of cost-effective informatics solutions worldwide. Health laboratory informatics allow better coordination and collaboration among healthcare providers, streamline medical quality assurance processes, enhance cost-efficiency in healthcare delivery, and accelerate accuracy and efficiency in facility/practice management.

Besides, the demand for skilled labor is increasing as data integration and its applications become more prevalent. However, the lack of skilled professionals is expected to hinder market expansion in the next few years.

Nevertheless, various benefits offered by healthcare laboratory informatics system installation, such as reduced medical errors, improved accuracy of diagnoses and treatments, and the replacement of costly paper record systems with less expensive EHRs, will offer several growth opportunities in the future.

Overall, the healthcare laboratory informatics market is segmented in terms of product, deployment, component, end-use, and region.

Considering the product, the laboratory information management system was valued at over USD 1 billion in 2022 and is slated to demonstrate sturdy growth throughout 2023-2032. The growth can be attributed to product benefits such as ease for staff to learn and adapt, removal of redundant workflow steps and clicks through the system, support for individual workflows per group, individual, or location, a user-friendly system that aids in daily routines, faster, more efficient, and more productive working, and support for a single user or multi-department and multi-national systems.

Based on deployment, the on-premises solution segment is expected to grow considerably from 2023 to 2032. On-premises solutions help monitor all the data related to specific premises. The rising preference for on-premises deployment for alleviating data breaches in cloud-based solutions is expected to propel the demand for on-premises enterprises, thereby complementing the segmental growth.

On the basis of the component, the others segment contributed over USD 37.5 million in revenue in 2022 and is slated to grow exponentially through 2032. The rising incidences of infectious diseases caused by microorganisms, such as bacteria, viruses, fungi, and parasites, are expected to drive the demand for lab testing, supporting the market expansion by 2032.

By end-use, the clinical segment is anticipated to exhibit massive growth through 2032, owing to the wide range of clinical safety testing that includes steps such as starting from patients’ data collection and analysis to generating the reports. In addition, the rising demand for cost-effective laboratory informatics solutions in the clinical industry will drive segment growth over the forecast period.

Regionally, the North America healthcare laboratory informatics market held the largest revenue share in 2022 and is estimated to grow substantially through 2032. The growth can be ascribed to the rising demand from life sciences companies to comply with regulations and the increasing adoption of laboratory information management system solutions in the region.