This research study involved the extensive use of both primary and secondary sources. It involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, the competitive landscape of market players, and key market dynamics such as drivers, opportunities, challenges, restraints, and key player strategies.
Secondary Research
This research study involved the wide use of secondary sources, directories, databases such as Dun & Bradstreet, Bloomberg Businessweek, and Factiva; white papers, annual reports, and companies’ house documents; investor presentations; and the SEC filings of companies. Secondary research was used to identify and collect information useful for an extensive, technical, market-oriented, and commercial study of the laboratory informatics market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.
Primary Research
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects.
Primary research was conducted to identify segmentation types; industry trends; key players; and key market dynamics such as drivers, restraints, opportunities, challenges, industry trends, and strategies adopted by key players.
Breakdown of the Primary Respondents:
*Others include sales managers, marketing managers, and product managers.
Note: Tiers are defined based on a company’s total revenue, as of 2020: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
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Market Size Estimation
The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends, by deployment model, solution type, component, industry, and region).
Global Laboratory Informatics Market Size: Top-Down Approach
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Data Triangulation
After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the laboratory informatics market.
Market Definition
Laboratory informatics is the application of information technology to scientific processes and the management of electronic records to optimize and extend laboratory operations. It encompasses data acquisition, lab automation, instrument interfacing, laboratory networking, data processing, specialized data management systems, laboratory information management systems, scientific data management systems (including data mining and data warehousing), and knowledge management (including the use of electronic laboratory notebooks), among others.
Key Stakeholders
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Laboratory informatics solutions providers
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Platform providers
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Technology providers
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System integrators
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Healthcare IT service providers
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Pharmaceutical & biotechnology companies
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Research and consulting firms
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Process industries
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Forums, alliances, and associations
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Distributors
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Venture capitalists
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Government organizations
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Academic research institutes
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Institutional investors and investment banks
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Investors/Shareholders
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Consulting companies in the sector
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Raw material and component manufacturers
Objectives of the Study
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To define, describe, and forecast the global Laboratory Informatics market based on solution type, component, deployment model, industry, and region
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To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
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To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
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To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
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To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America and Middle East & Africa
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To profile key market players and comprehensively analyze their product portfolios, market positions, and core competencies
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To track and analyze competitive developments such as acquisitions; product launches and upgrades; expansions; agreements, partnerships, and acquisitions; and R&D activities in the laboratory informatics market.
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:
Company Information
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Detailed analysis and profiling of additional market players (up to 5)
Geographic Analysis
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Further breakdown of the Rest of Europe Laboratory Informatics Market into Denmark, Norway, and others
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Further breakdown of the Rest of Asia Pacific Laboratory Informatics Market into Vietnam, New Zealand, Australia, South Korea, and others
Freddie
Jun, 2022
Which are the major growth influencing factors for the Laboratory Informatics Market?.
William
Jun, 2022
Which are the major growth boosting factors for the North American region in the Laboratory Informatics Market?.
Archie
Jun, 2022
By type of solutions, which of the segment will hold the major share of the Laboratory Informatics Market?.