Transparency Market Research has published a new report on the global laboratory information system market. As per the report, the global laboratory information system market is predicted to progress from US$1,381.4 bn in 2013 to US$2,158.0 bn by 2019. The report, titled ‘Laboratory Information System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019’, states that the global laboratory information system market is expected to expand at a 7.70% CAGR between 2013 and 2019.
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A laboratory information system is a software-based laboratory and information management system that stores and manages information from every stage of medical tests and procedures. The demand for laboratory management systems has been rising rapidly across the world. The increased need for the improvement in laboratory competence and escalating demand for integrated healthcare information systems are driving the global laboratory information systems market significantly.
According to this research study, the worldwide market for laboratory information systems may face severe challenges in the near future due to the dearth of skilled professionals. The high cost incurred on maintenance and service is also anticipated to hinder the growth of this market over the next few years.
In this report, the global laboratory information systems market has been analyzed on four fronts: Component, delivery mode, application, and region. Based on the component, the market has been categorized into hardware, software, and services. By delivery mode, the market has been segmented into cloud-based laboratory information systems, web-based laboratory information systems, and on-premise laboratory information systems.
Application-wise, the study has segmented this market into drug delivery laboratory information systems and clinical diagnostics laboratory information systems. The clinical diagnostics laboratory information systems segment dominates the market and is expected to maintain its position during the forecast period, rising at a CAGR of 8.90%.
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Regionally, the report has classified the global market for laboratory information systems into North America, Europe, Asia, and the Rest of the World. North America leads the overall market in terms of demand. The increasing prevalence of life-threatening diseases in this region has been fueling the demand for laboratory information systems in North America since the last few years. The presence of a well-established healthcare industry is also boosting this regional market significantly.
Europe is also registering a significant rise in the global laboratory information systems market. The increase in the government initiatives to promote the usage of laboratory information systems is propelling the Europe market for laboratory information systems. The U.S. dominates the market in North America and the European market is driven by the prospects exhibited by U.K. and Germany, reports the study.
Autoscribe Informatics Inc., AAC Infotray AG, Labvantage Solutions Inc., STARLIMS Corp., 3M Health Information Systems Inc., Labware Inc., Thermo Fisher Scientific Inc., Cerner Corp., Merge Healthcare Inc., and McKesson Corp. are the leading manufacturers of laboratory information systems, mentioned in this research report.