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Healthcare Laboratory Informatics Market Size

Report ID: GMI1789
Published Date: Dec 2022
Report Format: PDF

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Healthcare Laboratory Informatics Market Size

Healthcare Laboratory Informatics Market size accounted for over USD 2.5 billion in 2022. Driven by increasing R&D initiatives in the field, the industry is expected to grow at more than 8.5% CAGR from 2023 to 2032.

Healthcare Laboratory Informatics Market Overview

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Significant technological advancements in software solutions are slated to foster market share in the coming years. Rapid digitization of healthcare systems necessitates the development of high-tech information management systems to reduce the workload for healthcare professionals and operating costs. Constant efforts by leading players to introduce new services and solutions are benefitting the industry outlook.

The high need for scientific data integration solutions is projected to drive healthcare laboratory informatics market expansion. Large amounts of data produced by several experiments and research investigations require proper storage and analysis tools. Data integration solutions are vital for the efficient processing of the obtained data and for coming to a satisfactory conclusion. Thus, the usage of data integration solutions, including electronic health records and scientific data management is speculated to further augment market outreach.

Healthcare Laboratory Informatics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Healthcare Laboratory Informatics Market Size in 2022:	2.7 Billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	8.7%
2032 Value Projection:	6.4 Billion (USD)
Historical Data for:	2018 to 2022
No. of Pages:	140
Tables, Charts & Figures:	224
Segments covered:	Product, Deployment, Component, End-use, and Region
Growth Drivers:	Rising demand for scientific data integration solutions Increasing need for clinical workflow management Increasing availability of cost-effective informatics solutions Technological advancements in software solutions
Pitfalls & Challenges:	Dearth of integration standards Lack of skilled professionals

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global Industry size for Healthcare Laboratory Informatics was worth over USD 2.5 billion in 2022 and is set to progress at more than 8.5% CAGR over the next 10 years owing to the high need for scientific data integration solutions, increasing R&D initiatives in the sector, and significant technological advancements in software solutions.

Pharmaceuticals segment is anticipated to grow at more than 8.5% CAGR through 2032 because of increasing research investigations and R&D projects to produce a vast amount of data, thereby boosting the use of informatics solutions by pharmaceutical firms.

Cloud based segment is poised to expand at over 9% CAGR between 2023 and 2032 as a result of increased technology adoption and growing healthcare costs in various nations.

Asia Pacific healthcare laboratory informatics industry is primed to grow at a 9.5% CAGR through 2032 due to favorable government initiatives to establish a tiered healthcare system, upgrade public hospitals, lessen drug abuse, and health insurance in the APAC region.