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Need to Streamline Administrative Tasks to Push Lab Workflow Solutions Market by 14.8% CAGR by 2032
Fact.MR's latest report uncovers details on concealed opportunities in the lab workflow solutions market. It delivers insights into vital aspects favoring demand across various segments in terms of end use, type, and region. Besides, the report predicts growth prospects of the lab workflow solutions market for the forecast period (2022-2032).
NEW YORK , July 7, 2022 /PRNewswire/ -- The global lab workflow solutions market stood at US$ 9.12 Bn in 2022 and is projected to be valued at US$ 36.27 Bn by the end of 2032. As per the report, the lab workflow solutions market is anticipated to exhibit considerable growth at a CAGR of 14.8% in the forecast period from 2022 to 2032.
Increasing demand for lab sample management systems, nurse call systems, and similar other workflow solutions in the healthcare sector is anticipated to drive growth. Government initiatives to support the adoption of healthcare information technology solutions is also expected to boost the market worldwide.
Increasing prevalence of chronic diseases is expected to raise the burden on medical infrastructure across the globe. To ease the burden, several institutions are moving towards digitization and are adopting novel technologies, including lab workflow solutions.
Besides, growing need for standardization in clinical laboratories and rapid adoption of cloud and IoT technologies in the healthcare sector are set to augur well for the global market. High popularity of automation in healthcare facilities with rising investments by government bodies is another crucial factor that is expected to create new growth opportunities in the lab workflow solutions market.
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Further, ongoing development of connected hospitals with the urgent need for impactful and seamless ways to enhance patient safety and outcomes is likely to boost growth. Ability of lab workflow solutions to accelerate the flow of real-time health information for consistent patient monitoring is also anticipated to enhance outcomes.
In addition, research and pathology labs are rapidly adopting lab workflow management software solutions in the healthcare sector. It is further anticipated to foster the demand for state-of-the-art medical device integration platforms, physical access control systems, and remote patient monitoring systems, thereby augmenting growth.
Based on end use, the ambulatory care centers segment is expected to remain at the forefront on the back of rising need to reduce treatment costs. Also, integration of lab workflow solutions into ambulatory care centers is set to help in lowering risks of acute complications, streamline administrative tasks, and enhance access to vital information.
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Leading lab workflow solution providers are focusing on acquisitions, mergers, and collaborations to expand their reach of services and solutions. Some of the other key players are investing huge sums in research and development activities to come up with cutting-edge products to increase their revenues.
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More Valuable Insights on Lab Workflow Solutions Market
In the latest study, Fact.MR offers a detailed study of global lab workflow solutions market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of lab workflow solutions through detailed segmentation as follows:
Key Questions Covered in the Lab Workflow Solutions Market Report
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