The Laboratory Information Systems often find use in national public health systems into standardizing the process and identify the burdens that hinder the smooth workflow. The global laboratory information systems market is expecting a rise by an impressive CAGR of 7.3% during the forecast period (2016-2027). Extensive research has been done by Market Research Future (MRFR) for the report where segmental analysis and detailed description of the factors have found mention.
The Laboratory Information Systems (LIS) Market is gaining momentum with its integration in healthcare information systems across the world. It is now playing a pivotal role in the latter sector by managing and streamlining data as per the requirements. The need for such technology is on the rise as the emerging economies are including the technology to get a better grasp of the ongoing research and development.
Increasing demand for laboratory information systems from various governments is a prominent factor that can impact the laboratory information systems market substantially. Fast integration of this type of technology to upgrade healthcare systems in developing regions can play a decisive factor. The market scope will increase with such percolation. Healthcare IT is also taking fast strides forward and, in the process, impacting the laboratory information systems market substantially.
However, it incurs high maintenance cost which along with, difficulties in interoperability with the present health system can bottleneck the laboratory information systems market during the review period. But technological advancements can overcome these issues in no time.
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.
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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.
The Cerner EHR project is thriving as the U.S. Department of Defense increases its budget by about USD 1.2 billion. The additional funds will support the added services to maintain a standard EHR between the Department of Veterans Affairs and the U.S. Coast Guard. The EHR when integrated with laboratory information system, turns highly efficient, which leads to increased productivity and also reduced probability of errors. Cerner is an established company in the global LIS market that understands this fact and makes use of every opportunity to enhance its products to cater to various customer needs.
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 – 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.
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.
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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.
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