APAC Laboratory Informatics Market

APAC Laboratory Informatics Market Size (2022 to 2027)

The size of the laboratory informatics market in the APAC region is expected to grow USD 1.21 billion by 2027 from USD 0.76 billion in 2022, growing at a CAGR of 9.69% from 2022 to 2027.

Due to the spread of infectious diseases, increased healthcare spending, and advancements in healthcare IT, the APAC Laboratory informatics market is likely to develop substantially during the forecast period. In addition, factors such as the need to increase the efficiency of medical laboratories, the rising demand for error-free diagnostics, and the growing integration of information systems laboratories are all supporting the market. On the other hand, the laboratory informatics market is expected to grow due to an increase in acceptance of these systems as a result of their beneficial characteristics, such as the ability to integrate electronic records with the laboratory information system, accurate disease subtyping, and improved clinical workflow efficiency.

Furthermore, increased demand for cutting-edge technologies has boosted genomics and personalized medicine research and development, propelling the laboratory informatics market ahead. During the projection period, introducing unique and novel laboratory information systems that provide enhanced customer services and support is likely to create attractive growth opportunities for key industry players.

In addition, the rising need for personalized medicine is likely to boost the laboratory informatics market to new heights. With an increase in life-threatening diseases and cardiovascular disorders, an aging population, and advances in laboratory information system technology, there is an opportunity to treat diseases such as cancer better and faster.

However, high information system expenses and a shortage of trained healthcare IT experts are significant hurdles the market must overcome to prosper. The total market expansion is being stifled by the lack of laboratory informatics integration standards and experienced people. One of the other primary issues limiting the growth of this market is the high maintenance and service costs associated with laboratory informatics solutions. According to industry analysts, IT systems' maintenance costs are more than the software's actual cost. Many small and medium-sized laboratories are unable to invest in these systems due to these issues, restricting their adoption.

This research report on the APAC laboratory informatics market has been segmented and sub-segmented the European biomaterials market into the following categories:

By Product:

• Laboratory Information Management System (LIMS)
• Electronic Lab Notebook (ELN)
• Scientific Data Management System (SDMS)
• Chromatography Data System (CDS)
• Laboratory Execution System (LES)

By Component:

• Services
• Software

By Deployment:

• On-premises
• Cloud-based
• Remotely Hosted

By End-User:

• Biotech companies
• Pharmaceuticals
• Clinical

By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

The APAC laboratory informatics market is one of the fastest-growing regional markets, with a large part of the global market likely to be captured throughout the forecast period. Rising healthcare spending and advancements in the healthcare IT industry are expected to drive market expansion. Furthermore, the rising demand for error-free diagnostics aids the growth of medical laboratories, boosting their efficiency. As a result, significant nations in the region, such as China, Japan, and India, are contributing to the expansion of the APAC regional market. In addition, growing markets such as Singapore, Australia, India, and China are driving the laboratory information system industry.

During the projected period, the Japanese laboratory informatics market is expected to hold the highest share of the APAC market. Japan is well-known for its technological advancements all around the world. It also has a growing healthcare infrastructure, thanks to an aging population and the increase of significant ailments like cancer and heart disease, propelling the market forward.

The Chinese laboratory informatics market, on the other hand, is expected to grow significantly throughout the forecast period. The industry is expected to increase due to an aging population, a huge patient pool, and enhanced healthcare facilities.

Similarly, the laboratory informatics market in India is expected to grow substantially. Improved healthcare infrastructure, increased awareness of electronic health record systems and their growing importance, and supporting government regulations are all driving market expansion.

KEY MARKET PLAYERS:

Thermo Fisher Scientific, Inc., Core Informatics, LabWare, PerkinElmer, Inc., LabVantage Solutions, Inc., LabLynx, Inc., Agilent Technologies, ID Business Solutions Ltd., McKesson Corporation are some of the companies playing a pivotal role in the APAC laboratory informatics market profiled in this report.