Asia-Pacific Laboratory Informatics Market Research Report: Forecast (2024-2030)

Market Definition

Laboratory Informatics is defined as the specialized application of information technology meant for extending and optimizing laboratory operations.

Market Insights & Analysis: Asia-Pacific Laboratory Informatics Market (2024-30):

The Asia-Pacific Laboratory Informatics Market is estimated to grow at a CAGR of around 9.1% during the forecast period, i.e., 2024-30. The market has been driven by the increasing number of clinical trials, the need for further cost containment of clinical trials, and the increasing number of pharmaceutical and biotech companies across the region. The governments in the Asia-Pacific region have been standardizing their clinical studies, thereby easing the process for approval. As a result, the number of clinical trial research studies in the region has increased in recent years.

Also, the favorable regulatory policies in the Asia-Pacific region have increased the growth opportunity for biotechnology companies. Therefore, with improved government support, biotechnology & pharmaceutical companies are escalating their R&D activities, thereby driving the adoption of laboratory informatics in the Asia-Pacific region. Further, the COVID-19 pandemic has had a significant and lasting impact on the health systems and economies of the Asia-Pacific region. For instance:

• As per the World Health Organization (WHO), between 1 January 2020 to 18 October 2022, more than 144 million people tested positive for COVID-19 in the Asia-Pacific region.

Such epidemics and pandemics have been largely accelerating the adoption of laboratory informatics in the Asia-Pacific region. This has been driven by increased testing demands, necessitating efficient data management for surveillance & research, accelerating drug discovery & vaccine development through collaboration and data analysis, enhancing biosafety and biosecurity measures, and encouraging long-term preparedness efforts. These events highlight the critical role of laboratory informatics in managing public health crises, leading to heightened investment and adoption in the region.

In addition, the development of advanced technologies such as cloud computing, big data analytics, and artificial intelligence is enhancing the capabilities & functionalities of laboratory informatics systems. Hence, these advancements are projected to attract more users in the Asia-Pacific region, and would thereby drive the market of laboratory informatics in the forthcoming years.

Asia-Pacific Laboratory Informatics Market Driver:

Rising Prevalence of Diseases Compelling the Adoption of Laboratory Informatics – In recent years, there has been a surge in diseases like cancer, diabetes, etc., across the region due to genetic factors & inclination towards unhealthy lifestyles. For instance:

• As per the World Health Organisation (WHO), in Asia, about 9.83 million new cancer cases were reported in 2022 and this number is expected to reach up to 16.2 million by 2045.

These diseases require immediate diagnosis & treatment, therefore, healthcare facilities, like hospitals and nursing homes are compelling their in-built laboratories to opt for advanced informatics technologies. These advanced technologies help the healthcare practitioners to easily diagnose the health problem. As a result, health practitioners provide tailored treatment to patients based on their body vitals. Hence, with the rising incidences of high-risk diseases, the requirement for accurate diagnostics, research, & healthcare management is also amplifying in Asia-Pacific nations.

Moreover, the patients are demanding accurate diagnostics. As a result, healthcare facilities are seeking advanced informatics solutions to efficiently manage data & streamline processes to provide quality results & enhance the diagnostic process. This surging demand for laboratory informatics, mainly propelled by the need for research, and healthcare management is enlarging the market size. Hence, the market is witnessing significant expansion as laboratories are adopting modern informatics technologies to meet evolving healthcare challenges in the Asia-Pacific region.

Asia-Pacific Laboratory Informatics Market Opportunity:

Amalgamation of Emerging Technologies into Laboratory Information Management Solutions – Conventional laboratory informatics helps healthcare facilities to effectively manage & operate the laboratory and provide diagnosis results. However, these management systems provide lower results compared to advanced technology-based laboratory information systems. These advanced informatics systems help the laboratory systems to effectively manage & store the data of the patients. These systems are connected with the digital ecosystems of the healthcare facilities owing to which the information related to the laboratory test done by the patients is directly shared with the consulting doctors. This helps maintain effective communication within the healthcare facility & between patients & doctors. As a result, hospitals are increasingly shifting towards advanced laboratory information management systems, uplifting the Asia-Pacific Laboratory Informatics Market. Additionally, these technology-based application helps healthcare professionals make informed decisions which help in improving patients' health. Hence, the hospitals & governing authorities in the region are providing funds to hospitals & nursing homes to integrate these advanced laboratory informatics systems within their facilities. For instance:

• In 2024, the Singaporean government announced that it would invest about USD 743 million over the next five years to further boost AI capabilities in the country.

These investments & funding from private & government entities would continue to help the independent healthcare laboratory to adopt these advanced solutions, uplifting the Asia-Pacific Laboratory Informatics Market in foreseen years as well.

Asia-Pacific Laboratory Informatics Market Challenge:

High Costs & Data Breach Concerns Slow Down the Adoption of Laboratory Informatics– The laboratory informatics solutions are based on different software and essentially require technical expertise to maintain & use these solutions. As a result, to effectively manage the online software, the laboratories are compelled to hire a technical professional which acts as an additional cost. Therefore, independent laboratories and small-scale laboratories refrain from opting for these solutions. In addition, these technological solutions store the entire information related to the patients on online servers. This data stored on online servers is at higher risk of security & data breach. As a result, to safeguard these data from security breaches, enterprises are compelled to incorporate data protection software. These additional software & cybersecurity measures put additional financial strain on the small & medium scale laboratories. Therefore, these small-scale organizations in the underdeveloped nations in the region rely on alternatives rather than laboratory informatics, restraining the Asia-Pacific Informatics Market growth.

Asia-Pacific Laboratory Informatics Market Trend:

Implementation of Safety Standards Within the Healthcare Sector Uplifting Market Growth – The healthcare sector is a critical sector in the Asia-Pacific nations since the prevalence of diseases in the region is relatively higher than in other regions across the globe. The higher number of patients across the nations of Asia-Pacific necessitates that healthcare facilities opt for solutions that effectively manage & store the information related to the patient’s regular health check-ups. To ensure that the hospitals effectively maintain the patients' records, the governing authorities in the region are increasingly implementing safety standard procedures. These safety standards compel healthcare facilities & laboratories to incorporate solutions that effectively manage the daily tasks, patient information & laboratory equipment details. Therefore, healthcare facilities & laboratories are increasingly looking out for informatics solutions, uplifting the Asia-Pacific Laboratory Informatics Market.

Additionally, the governing authorities & ministries in some of the Asia-Pacific nations are ensuring monthly audits in the healthcare labs. Therefore, to ensure compliance with the safety standards mentioned by the governing authorities, the labs are increasingly incorporating informatics solutions, augmenting the Asia-Pacific Laboratory Informatics Market.

Asia-Pacific Laboratory Informatics Market (2024-30): Segmentation Analysis

The Asia-Pacific Laboratory Informatics Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the regional level. In accordance to the analysis, the market has been further classified as:

Based on Product Type:

• Electronic Lab Notebooks (ELNs)
• Laboratory Information Management Systems (LIMS)
• Chromatography Data Systems (CDS)
• Electronic Data Capture (EDC) & Clinical Data Management Systems (CDMS)
• Enterprise Content Management Systems (ECM)
• Others (Scientific Data Management Systems (SDMS), Laboratory Execution Systems (LES), etc.)

Based on the product type, Laboratory Information Management Systems (LIMS) held a prominent share in the Asia-Pacific Laboratory Informatics market. These solutions help the healthcare facilities to streamline their process and store the information related to the patient’s vital effectively. As a result, several healthcare facilities are opting for these types of solutions, enhancing the market share of Laboratory Information Management Systems (LIMS) in Asia-Pacific Laboratory Informatics Market. In addition, several market players are providing LIMS based on advanced technologies, which helps in providing more accuracy & reliability. Therefore, to enhance the storage & improve the overall efficiency within the healthcare facilities, the laboratories in the region are increasingly seeking LIMS, contributing to market growth.

Based on the Industry:

• Life Sciences Industry
  • Pharma & Biotechnology
  • Biobanks & Bio Repositories
  • Molecular Diagnostics & Clinical Research Labs
  • Others (Contract Service Organization, Academic Research Institutes, etc.)
• Chemical Industry
• Food & Beverage
• Agriculture
• Others (Petrochemical Refinery, Oil & Gas Industry, Environment Testing Laboratories, etc.)

Among them, the Life Sciences Industry holds a notable market share in the Asia-Pacific Laboratory Informatics market. This industrial sector includes Pharma & Biotechnology companies, Molecular Diagnostics & Clinical Research Labs, etc. The different organizations & companies within the life Sciences sector necessarily have a research lab to conduct the clinical trials for their products. These research labs carry out crucial trials to check the efficacy of the products. Therefore, these laboratories use laboratory informatics solutions to maintain & store data related to the trials, their output, and the details related to the environment kept within the lab during research. Additionally, these solutions help the researchers & organizations to improve the products' efficacy after checking the past records, therefore, these organizations necessarily use the informatics solutions.

Further, the products offered by these organizations are required to maintain proper safety standards laid by the government. Therefore, to ensure compliance with the standards, the enterprises carry out the necessary trials in their in-built labs. These rising trial tests in the labs are accentuating the need for informatics systems, uplifting the market growth.

Asia-Pacific Laboratory Informatics Market (2024-30): Regional Projection

Geographically, the Asia-Pacific Laboratory Informatics Market expands across:

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

Geographically, India held a notable market share in the Asia-Pacific Laboratory Informatics Market. The nations have a higher number of geriatric population compared to the nations like Japan, South Korea, and others. Owing to this, the number of diseases in the majority of the Asia-Pacific nations. Therefore, the hospitals in the country carry out a large number of tests to check the body vitals of the patient. Hence, the hospitals in the country have laboratory informatics solutions to ensure the effective storage & management of the data related to the patient & healthcare facility. In addition, governing authorities in the region are working on uplifting the country’s economy & strengthening the pharmaceutical sector by establishing new biotech companies. The rising establishment of these companies would continue to uplift the demand for clinical labs to carry out trials, consequently enhancing the adoption of laboratory informatics solutions in India in the foreseen years.

Asia-Pacific Laboratory Informatics Industry Recent Development:

• 2024: Autoscribe Informatics Inc., announced to expand its customer network in the region by opening a new office in Australia.  
• 2023: Thermo Fisher Scientific Inc., introduced version 21.2 of its Thermo Scientific™ SampleManager™ LIMS software which offers better user experience, product reliability, and security.

Gain a Competitive Edge with Our Asia-Pacific Laboratory Informatics Market Report

• The Asia-Pacific Laboratory Informatics Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• The Asia-Pacific Laboratory Informatics Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.