(EMAILWIRE.COM, April 23, 2021 ) According to research report the Laboratory Informatics Market is estimated to reach USD 3.8 billion by 2024 from USD 2.6 billion in 2019, at a CAGR of 7.5% during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=203037633

Growth in the Lab Informatics Market is mainly driven by the increasing need for laboratory automation, increasing need to comply with regulatory standards development of integrated lab informatics solutions and the growing demand in biobanks/biorepositories.

On the basis of deployment model, the laboratory informatics market is segmented into on-premise, cloud-based, and remotely hosted models. The cloud-based models segment is expected to grow at the highest CAGR during the forecast period. Factors such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model will boost the demand for cloud-based laboratory informatics solutions in the coming years. However, data transfer complexities and data security concerns may hinder the growth of this market segment.

Based on components, the laboratory informatics market is segmented into services and software. The services segment dominated the Lab Informatics Market in 2018. The large share of the services segment can be attributed to the growing technological advancements in solution offerings by various vendors, increasing adoption of cloud-based solutions, growing need for consulting services, and the recurring nature of services. Furthermore, in terms of IT usage and skill, the life science industry relies heavily on service providers.

Geographically, the laboratory informatics market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). The large share of this market can primarily be attributed to the strong economies in the US and Canada, which have allowed for significant investments in technology in this region. Growth in the North American market is supported by the growing demand for the integration of laboratory systems, growth in biobanks, rising government funding for research, need for early drug discovery, easy availability of laboratory informatics products and services, and stringent regulatory requirements across industries.

Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=203037633

The prominent players in the Laboratory Informatics Market are Thermo Fisher Scientific Inc. (US), LabVantage Solutions, Inc. (US), Autoscribe Informatics (US), Dassault Systèmes (Paris, France), LabWare (US), Abbott Informatics (US), LabLynx, Inc. (US), Waters (US), Agilent Technologies, Inc. (US), LABWORKS LLC (US), KineMatik (Ireland), Accelerated Technology Laboratories (ATL) (US), and PerkinElmer Inc. (US).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
sales@marketsandmarkets.com