Healthcare Laboratory Informatics Market Size

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.

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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.