Laboratory Information Systems Market Size: Global Industry Demand, Growth, share & Forecast 2027

Laboratory Information Systems Market - Insights

The Global Laboratory Information Systems (LIS) is set to surge at CAGR of 7.3% during the forecast period (2016-2027), predicts Market Research Future (MRFR). There are several practice applications of a LIS that improve the day-to-day operations of a medical laboratory, along with prevention of medical errors.

A busy medical laboratory having many patients on a regular basis encounter difficulty in keeping all the patients’ information organized. Thus, a LIS system comes in handy, as it helps keep all this information organized, which is vitally important for a medical lab to run smoothly. Apart from this, rising integration of LIS and Electronic Health Record (EHR) and demand for quality and precision diagnosis are majorly supplementing the market growth globally. Moreover, increasing penetration of mobile applications in healthcare solutions coupled with growing popularity of cloud-based laboratory information system testifies for the market progress that has taken place in the past few years.

On the flip side, lack of skilled information technology (IT) professionals in the healthcare industry tames the flow of the progressing market. However, an array of opportunities stemming from emerging regions along with the consistently growing adoption of LIS are proof enough that the global market is en-route to brighter future prospects.

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Laboratory Information Systems Market - Key Players

The key players that are involved in Global Laboratory Information Systems market are Cerner Corporation, Recent Developments, Eclipsys Corporation, LabVantage Solutions Inc, LabWare Inc, McKesson Corporation, Medical Information Technology Inc., Merge Healthcare Inc, STARLIMS Corporation, Sunquest Corporation and Thermo Fisher Scientific Inc.

Industry Updates:

Nov 2014 Thermo Fisher launched a new ultracentrifuge which combines speed with safety and ergonomics, allowing researchers to easily protect samples while achieving reliable and consistent results.

Sept 2014 Cerner announced a strategic agreement with Intermountain Healthcare to provide clinical governance of solutions and workflow to be proposed for the Department of Defense’s Healthcare Management System Modernization (DHMSM) initiative.

Aug 2014 Cerner Corporation and Siemens AG signed a definitive agreement for Cerner to acquire the assets of Siemens’ health information technology business unit, Siemens Health Services, for $1.3 billion in cash. As part of the agreement, Cerner and Siemens will form a strategic alliance to bring new solutions to market that combine Cerner’s health IT leadership and Siemens’ strengths in medical devices and imaging services.

March 2014 LabVantage launched a new product known as LabVantage 7 Express for quality controlled smaller labs.

Laboratory Information Systems Market - Segments

Segmentation by Applications

Segmentation for Laboratory Information Systems market involves the following Applications such Clinical LIS Market, Drug Discovery LIS Market, Industrial LIS Market.

Segmentation by Components

Segmentation for Laboratory Information Systems market involves the following Components such as Software in LIS Market, Hardware in LIS Market, Services in LIS Market.

Segmentation by Delivery

Segmentation for Laboratory Information Systems market involves the following Delivery such as Web-based LIS Market, On-premise based LIS Market, Cloud-based LIS Market.

Laboratory Information Systems Market – Regional Analysis

Geographically, the regional market is segmented into America, Europe, Asia Pacific, and the Middle East & Africa.

The North America dominated the global Laboratory Information Systems market. The adoption of cloud computing is expected to rise in the U.S. healthcare sector due to continuous pressure to lower cost for customized healthcare services. According to clauses of the HIPAA, the healthcare industry in the U.S. has to adopt new systems that support electronic medical records (EMR) and share data in an efficient and secure manner with other healthcare providers and government agencies. This will lead to higher adoption of cloud-based LIS, which allow laboratories to share real-time information with hospitals and patients. In terms of LIS usage, North American and Western European markets are witnessing penetration, due to early adoption of healthcare technologies.

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The European LIS market is expected to grow moderately, driven by higher incidence rate of diseases and increasing patient awareness about new technologies. In addition, various government initiatives also helped in promoting the usage of LIS. Increasing demand for better healthcare facilities and rising need for integrated healthcare systems in the two regions are some of the key driving factors for these markets.

The LIS market is expected to grow in Asia-Pacific (APAC) due to increase in the incidences of diseases. Asia and Latin America are among the fastest growing markets for LIS; rising investments from healthcare IT players and government initiatives are some of the key driving factors for LIS in these regions. Many international LIS firms have started investing in developing regions of the world, such as Asia and Latin America, in order to increase their presence in high potential markets.

Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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