Article -> Article Details
Title | Laboratory Information Systems Market : key vendors, Growth probability, and Future Scenario |
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Category | Fitness Health --> Addictions |
Meta Keywords | Laboratory Information Systems Market |
Owner | vinit |
Description | |
Laboratory
Information Systems Market Analysis The Global Laboratory
Information Systems Market size is projected to reach a valuation of
USD 20,757.12 million by 2025. It is predicted to exhibit
a CAGR of 7.1% during the forecast period. Laboratory information
systems (LIS) are an array of software and hardware designed to capture and
store healthcare data pertaining to clinical laboratories, analytical
laboratories, and healthcare industry. Technological advances in labs and
massive demand for automation are inducing the demand for laboratory
information systems. The global laboratory information systems market report by
Market Research Future (MRFR) covers drivers, challenges, trends, and
opportunities for the forecast period (2019-2025). It is expected to face massive demand owing to its ability
to improve the efficiency of hospitals. Adoption of advanced healthcare systems
in light of the recent surge of digitization of health records can work in
favor of the market. Investments by healthcare IT companies and the mushrooming
of hospital chains by expanding into rural areas can bolster the laboratory
information systems market growth. Laboratory Information
Systems Market Segmentation The global laboratory information systems (LIS) market has
been segmented into application, components, and delivery. Based on application, the global LIS market has been
segmented into clinical, drug discovery, and industrial. Based on components, the global LIS market has been
segmented into software, hardware, and services. Based on delivery, the global LIS market is divided
into on-premise based and cloud-based. Laboratory
Information Systems Market Regional Insights The global laboratory information systems (LIS) market,
based on region, is segmented into the Americas, Europe, Asia-Pacific, and the
Middle East & Africa. The Americas is likely to dominate the global laboratory
information systems (LIS) market owing to the increasing adoption of healthcare
IT software and subsidies and incentives from the government. It is expected to
reach USD 20,757.12 million by 2025 with a CAGR of 7.1% from 2019 to 2025 owing
to many key players and technologically advanced healthcare infrastructure in
this region. Other factors influencing regional market growth are web-based
information systems, cloud computing, and modernized healthcare infrastructure. Europe is the second-largest laboratory information systems
market owing to increasing incidence of diseases and growing awareness about
novel technologies to assist in laboratory functions. Support from government
agencies owing to the ability of the software to expedite normal processes can
bode well for the global laboratory information systems market. Massive demand
for genomics and metabolomics can propel the market growth. Asia-Pacific is predicted to be the fastest-growing
laboratory information systems market during the forecast period. This can be
attributed to the presence of growing economies of India and China. Efforts to
modernize healthcare infrastructure and presence of contract research
organizations for undertaking drug development projects can work in favor of
the market. The Middle East & Africa has the least laboratory
information systems market share, due to the presence of middle-income
countries, lack of healthcare awareness, and lack of advanced technology. The
UAE and Saudi Arabia are major contributors to the region. Laboratory
Information Systems Market Competition Outlook Medical Information Technology Inc., McKesson Corporation,
LabWare Inc, IBM, Abbott Laboratories, Roper Industries, Thermo Fisher
Scientific Inc., TCG Lifesciences Pvt. Ltd, and Cerner Corporation are key
players of the global laboratory information systems market. Partnerships and distribution
agreements are key strategies undertaken by players to sustain their laboratory
information systems market hold. |