Lab Workflow Solutions Market: Key Players, Growth & Analysis 2021 to 2031

Posted by Anup Kumar on February 19th, 2021

The global demand for lab workflow solutions witnessed slight decline in Covid-19 pandemic due to nationally mandated lockdown and social distancing implemented in 2020. Since the impact of the disease has come down in 2021 and manufacturers have started continuing their operations, the market for lab workflow solutionsis gradually recovering due to the tireless efforts ofthe market players.

Growing need for standardizing processes in clinical laboratories such as sample receipts, handlings, preparation of lab samples, guidance for assay data collection, reduce potential errors etc is creating a strong preference for such solutions in 2021. At present, users are opting for those LIMSwhich are providing customized solutions to them.

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Persuasiveness of IoT and cloud platforms are relentlessly transforming the lab workflow management space favouring the adoption of lab workflow solutions in 2021. Such solutions are creating an ease for carrying out workflow audit in labs and clinics through cloud platforms.

The ability to improve communication between the clinic and laboratory continues to accelerate the demand for such solutions as lab workflow solutions are facilitating effective communication with the clients in real-time by quickly answering to their queries.

Introduction of modified workflow solutions by leading manufacturers is leveraging possibile opportunities for further growth. Thermo Fisher Scientific and Hill-Rom Holdings are among the best players in this market and are continuously bringing innovations in their offering to users.

Leading players in this market are developing technologically sound platforms, highly advanced products with improved performance and utility, providing customized solutions etc to maintain healthy competition in the market.

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For instance, Stanley Healthcare Corporation collaborated with CISCO on May 2020 to integrate Stanley’s Healthcare AeroScout Real-time location system with Cisco’s DNA spaces enabling Stanley Corporation to deliver seamless and cost-effective solutions to healthcare providers relying on RTLS as a core part of their operations. The collaboration resulted in exaggerating the market share and global presence of Stanley across the world.

In addition to Stanley Corporation, Thermo Fisher Scientific introduced a software on its name called “Thermo Scientific Software” on October 2020 which is ideal for managing data, workflows, resources etc. The software is enabling scientists to overcome regular challenges in clinical and analytical labs making the administrative jobs, billing reporting, multi-software integrations easier than ever before. This software is the most used application in 2021. Thermo Fisher is currently adopting other strategies like joint ventures, collaborations, product approvals etc. Such developments have made the company the leading manufacturer in this market.

Further, Capsule Technologies Limited acquired Bernoulli Enterprizes on April 2020 to integrate Bernoulli’s Clinical Surveillance solution with Capsule Technologies’ Medical Device Integration Platform. The acquisition resulted in strengthening the connectivity capabilities of Capsule Technologies throughout the world.

Global Lab Workflow Solutions Market: Snapshot

The global lab workflow solutions market is anticipated to gather pace in lucrative regions such as North America and Asia Pacific. Expected to secure a larger share of the market in the near future, the developed region could bank on high digital literacy, better infrastructure, and the availability of policies supporting the deployment of laboratory information systems. Increasing pressure to end cost curve could result in high adoption of lab workflow solutions in the region. High number of pharmaceutical companies operating and increasing lab operational cost could be other reasons for increased demand for lab workflow solutions in the region.

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Anup Kumar

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Anup Kumar
Joined: January 11th, 2021
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