July 17, 2020
According to the research report titled ‘China Laboratory Informatics Market Analysis, 2020’, available with Market Study Report LLC, China laboratory informatics market is expected to record considerable growth through 2025.
The China laboratory informatics market is estimated to expand with a CAGR of 13% during 2020-2025. The improving innovations and cost-cutting incorporation of technologies are bolstering the laboratory informatics in biotechnology and pharmaceutical sector in the region.
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In China, the adoption of laboratory informatics is limited only to healthcare & life sciences institutions. Further, the increase in private investments leads to incorporation of IT in specialty care centers to enhance operational efficiency through real-time data inputs access.
The government is evolving as a significant shareholder in healthcare industry as restrictions on opening of general clinics and third-party medical institutions are discarded. Such developments will boost the deployment of laboratory informatics solutions industry in the ensuing years in China.
Based on product type, China laboratory informatics market is divided into scientific data management systems, enterprise content management systems, electronic data capture & clinical data management systems, laboratory execution systems, chromatography data systems, laboratory information management system, and electronic lab notebooks.
The electronic lab notebooks (ELN) segment is expanding constantly due to increasing adoption owing to organizations increasingly looking to use information from various sources and IPR to handle workflow and reduced time. There has been an increase in the usage of LIMS among the Chinese pharma manufacturers to identify process failures, predict less sample volume, resource needs, resource management, etc.
Investments of USD 2.1 billion were done in the country’s healthcare institutions during 2017-2019. A significant amount was devoted towards establishing solutions such as AI, data analysis, informatics, claim market analysts.
The on-premise model segment held a major share of China laboratory informatics market in 2019. On the other hand, the cloud-based segment growing quickly owing to the shifting preferences of companies towards online prescription models for cost-cutting.
The leading organizations in China laboratory informatics market are McKesson Corp., Waters Corp., Abbott Laboratories, Agilent Technologies (Beijing), Beijing LabWare and Sci & Tech Co., Thermofisher Scientific, Perkin Elmer, Autoscribe, LabLynx, and Lab Vantage among others.