Press Release

Asia-Pacific Laboratory Informatics Market to Witness Potential Growth with Expanding Pharmaceutical & Biotech Sectors

The Asia-Pacific Laboratory Informatics Market is projected to grow at a CAGR of 9.1% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The increasing number of clinical trials, the need for further cost containment of clinical trials, and the rising number of pharmaceutical and biotech companies in the region are some of the key aspects contributing to this market growth. In recent years, consumers have become more aware of their health, owing to which they undergo several routine health checkups. These regular health checkups conducted by the health labs store their current as well as past information, which helps the consulting doctor to offer accurate treatment to the consumers. Therefore, to ease the availability of the past records of the patients, the hospitals are using laboratory informatics, enhancing the Asia-Pacific Laboratory Informatics Market. Additionally, the Clinical trials conducted by the laboratories face issues that deteriorate their efficiency & output. Thus, these clinical labs are increasingly opting for laboratory informatics to manage & store the data related to the patient & healthcare professional effectively, propelling APAC Laboratory Informatics Market growth.

In addition, the nations in the region are increasingly setting up new facilities to ensure public health & safety. Moreover, companies in sectors like Food & beverage undergo several standard tests to ensure the safety of their products. Therefore, the labs in the F&B sector use informatics systems that store the information regarding the standards & criteria to be checked while testing the products. Further, these systems store the test results and directly supply them to the parent company. This direct channel helps the organization to work on the new product development as well based on the previous results. Therefore, companies are increasingly seeking to use these solutions to improve their overall efficiency, uplifting their market growth.

In addition, the advanced solutions are now offering better results than the conventional systems. As a result, numerous laboratories are transitioning towards these technology-based informatics solutions. Consequently, this would continue to uplift the market growth in the foreseen years as well, further states the research report, “Asia-Pacific Laboratory Informatics Market Analysis, 2024”

Asia-Pacific Laboratory Informatics Market Segmentation Analysis

Laboratory Information Management Systems (LIMS) Outperforms in the Asia-Pacific Laboratory Informatics Market

Based on the product type, the market is further divided into Electronic Lab Notebooks (ELNs), Laboratory Information Management Systems (LIMS), Chromatography Data Systems (CDS), Electronic Data Capture (EDC) & Clinical Data Management Systems, Enterprise Content Management Systems (ECM), and Others. Of them all, the Laboratory Information Management Systems (LIMS) segment accounted for the potential share of the Asia-Pacific Laboratory Informatics Market over the historical years. LIMS streamlines sample flow and data management to enhance laboratory efficiency, particularly beneficial for labs with repetitive workflows like quality control. The increasing demand for fully integrated services in the life sciences & research industries, aimed at minimizing data management errors and improving qualitative research analysis, is expected to propel the growth of the LIMS segment in the forthcoming years.

India Witnessed Considerable Growth in the Asia-Pacific Laboratory Informatics Market

Geographically, India leads the Asia-Pacific Laboratory Informatics market. The country is witnessing an increase in the setup of biotech companies to strengthen the country’s pharmaceutical sector. These companies essentially have the laboratories to conduct the clinical trial to ensure that the products developed by the company follow safety standards & have better efficacy than other market players. These labs conduct the research & tests on a daily basis. As a result, it becomes essential for these companies to maintain the daily progress report. Hence, these companies seek to use laboratory informatics to maintain the information related to the clinical trial & products related development tests. Furthermore, the population aged greater than 50 is consistently growing in the country. This population is at greater risk of having diseases. Therefore, these individuals undergo frequent tests to ensure that their body vitals are perfect. This increasing number of health tests is compelling the healthcare facilities in the country to opt for solutions that manage their test status, consequently enhancing the demand for Laboratory Informatics in India.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Thermo Fisher Scientific Inc., LabVantage Solutions Inc., Agilent Technologies Inc., Dassault Systèmes, STARLIMS Corporation, Autoscribe Informatics Inc., Lablynx Inc., Abbott Laboratories, Waters Corporation, Agaram Technologies Pvt Ltd., LabWare, etc., are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Asia-Pacific Laboratory Informatics Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?