DUBLIN, September 15, 2017 /PRNewswire/ -- The "Laboratory Informatics Market by Solution, Component, Delivery, Industry - Global Forecast to 2022" report has been added to Research and Markets' offering.

The global laboratory informatics market is projected to reach USD 3.16 Billion by 2022 from USD 2.32 Billion in 2017, at a CAGR of 6.4% during the forecast period. A number of factors, such as the increasing need for lab automation, development of integrated lab informatics solutions, regulatory requirements, growing demand in biobanks/biorepositories, academic research institutes, and CROs, and rising awareness are expected to drive the growth of the market. On the other hand, the dearth of trained professionals and lack of integration standards are expected to restrain the growth of this market in the coming years.

This report segments the global laboratory informatics market into by type of solutions, component, deployment model, industry and regions.
On the basis of the type of solutions offered, the global market is segmented into laboratory LIMS, ELN, CDS, EDC & CDM LES, ECM and SDMS. The LIMS segment is expected to account for the largest market share in 2017. This segment is also projected to register the highest CAGR during the forecast period. The large share of this segment can be attributed to the wide range of benefits associated with the use of these systems, including increased workflow efficiencies, easy integration with other lab systems, reduced transcription errors, and better regulatory compliance.

The global laboratory informatics market, by component is segmented into services and software. In 2017, services are expected to account for the largest market share and are expected to witness high growth during the forecast period. . Growth in this segment can be attributed to the 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.

Based on the deployment model, the global laboratory informatics market is segmented into on-premise, cloud-based, and remotely-hosted deployment models. The on-premise model segment is expected to account for the largest market share, while cloud-based deployment models are expected to register highest CAGR during the forecast period. Advantages of the cloud-based model such as on-demand self-serving analytics, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model are driving the growth of this market segment.

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