The global Healthcare Laboratory Information market accounted for US$ 1.98 Bn in 2020 with a considerable CAGR of 8.7% during the forecast period of 2021 to 2028.

Healthcare laboratory information is used to effectively manage associated data and samples to increase efficiency and productivity. The unprecedented rise of a covid-19 pandemic has involved enormous amounts of lab testing that has eventually increased the workload on lab personnel to maintain a massive amount of data. Healthcare laboratory information has made it easy for healthcare professionals to automate workflows, integrate instruments, manage samples, and associate information of patient’s tests. From record books to spreadsheets, conventional methods of data recording are lacking to maintain the requirements of a modern laboratory. Healthcare lab information can make the process of storing and analyzing complex data samples simple and easy.

Report coverage

Market	Healthcare Laboratory Information Market
Analysis Period	2017 - 2028
Base Year	2020
Forecast Data	2021 - 2028
Segments Covered	By Product Type, By End-Use, By Component, By Deployment Model, and By Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	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, and among others
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope	10 hrs of free customization and expert consultation

Market Dynamics

Growing adoption of automation in laboratories, strict regulatory requirements, and rising R&D expenditure in healthcare settings are the primary factors driving the global healthcare laboratory information market growth. In addition, the growing demand for clinical workflow management and the increasing need for scientific data integration solutions are key healthcare laboratory information market trends. However, complex integration standards and lack of skilled personnel are the factors that might restraint the market from growing. Moreover, surging demand from emerging economies and the rising trend of cloud-based laboratory information management systems will contribute to profitable opportunities for the market in the coming years.

Growing adoption of automation in laboratories

Laboratory automation is considered one of the most notable discoveries in the recent past of laboratory diagnostics. The application of automation in the laboratory enables to perform numerous tests by analytical instruments with little interference from a professional. Another advantage of laboratory automation is that laboratories can process more workload with minimum involvement of manpower. In addition, automation minimizes the chances of errors in test results that generally occur during manual analysis. Furthermore, automation in healthcare labs improves safety by using automated systems to store and handle harmful test samples. Thus, the growing adoption of automation in labs is witnessed due to its lower costs, high throughput, improved accuracy, reduced experimental errors, and a safer environment.

Every minute, an exponential volume of healthcare data is generated and extracted for valuable insights. Currently, about 30% of the world’s data volume is being generated by the healthcare industry. It is projected that the CAGR of healthcare data will achieve more than 30% till 2025.

Market Segmentation

The global healthcare laboratory information market is segmented based on product type, deployment model, component, end-user, and region. Based on the product types segment, the market classifies as laboratory information management system (LIMS), electronic lab notebook (ELN), scientific data management system (SDMS), electronic data capture (EDC) & clinical data management systems (CDMS), chromatography data system (CDS) and enterprise content management (ECM). Among product types, the laboratory information management system (LIMS) sub-segment dominated the market with more than half of the global share in 2020. The high growth in the segment is credited to its demand in pharmaceutical companies, R&D activities, food & beverages, etc. Also, LIMS manages the workflow and information through a laboratory.

By deployment model, the segmentation bifurcates into on-premise and cloud-based. The cloud-based deployment model is in demand as they save infrastructure cost, deployment time, and other significant resources during the implementation of healthcare laboratory information solutions. Component segment is further categorized into software and services. Moreover, the end-use segment is further sub-segmented into pharmaceutical and biotechnology labs, CROs, biobanks/biorepositories, molecular diagnostics & clinical research laboratories, academic research institutes, and other end-users. Among them, the pharmaceutical and biotechnology labs segment generated the highest revenue in the year 2020 owing to the surging amount of healthcare data, higher productivity, and growing demand for research & development activities in pharmaceutical and biotechnology laboratories.

Regional Overview

North America region is expected to lead global healthcare laboratory information market during the projected period of 2021 to 2028

Among all the regions, North America generated the highest revenues in 2020, accounting for around half of the total market share. This is attributed to the growing support from government organizations, presence of advanced healthcare facilities, and rising investments in LIMS technology. Besides, growing R&D spending and easy availability of LIMS products & services are also likely to boost the North American market growth. Europe stood for the second position in the regional market, owing to the growing focus on innovations through R&D. However, the Asia-Pacific region is likely to register the fastest CAGR throughout the forecast period on account of the increasing prevalence of various diseases leading to growing need for laboratory tests. Moreover, the rising population in the region and growing emphasis on improving the efficiency of laboratories propel the APAC healthcare laboratory information market.

Competitive Landscape

This section of the report pinpoints various key vendors of the market. Some of the key players offered 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. 

Market Segmentation

Market By Product Type

• Laboratory Information Management System (LIMS)
• Electronic Lab Notebook (ELN)
• Scientific Data Management System (SDMS)
• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
• Chromatography Data System (CDS)
• Enterprise Content Management (ECM)

Market By End-Use

• Pharmaceutical and Biotechnology Labs
• CROs
• Biobanks/Biorepositories
• Molecular Diagnostics & Clinical Research Laboratories
• Academic Research Institutes
• Others

Market By Component

• Software
• Services

Market By Deployment Model

• Cloud-Based
• On-Premise

Market By Geography

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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