Coherent Market Insights published a business research report on Laboratory Information Systems Market Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2022–2028. Laboratory Information Systems Market with 150+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. The information is gathered based on modern floats and requests identified with the administrations and items.
The global Laboratory Information Systems Market analysis further provides pioneering landscape of market along with market augmentation history and key development involved in the industry. The report also features comprehensive research study for high growth potential industries professional survey with market analysis. Laboratory Information Systems Market report helps the companies to understand the market trends and future market prospective,opportunities and articulate the critical business strategies.
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A laboratory information management system (LIMS) can be defined as the application of computer technology for managing the workflow of a medical laboratory. This information management system provides work orders, material inventory control and material identification all in one system. A LIMS can include everything from an automated material inventory management to an electronic workflow system for performing and completing studies. In fact, a LIMS can integrate many elements such as work orders, material identification, material tracking, material identification, and quality systems all in one system.
The global laboratory information systems market is estimated to account for US$ 3,266.2 Mn in terms of value by the end of 2027.
Recent Developments
Major players operating in the global laboratory information systems market are focused on adopting merger and acquisition strategies to enhance their market share. For instance, in October 2019, Orchard Software, a laboratory information system vendor, was acquired by Francisco Partners, a leading technology-focused, private equity firm.
Global Laboratory Information Systems Market: Drivers
The global laboratory information systems market growth is driven by high prevalence of chronic diseases. For instance, according to the World Health Organization, the number of new cancer cases diagnosed per year in Africa is expected to grow from over 1 million in 2018 to over 2.1 million in 2040.
Moreover, increasing demand for personalized medicine in treatment of various diseases is also expected to propel growth of the global laboratory information systems market. Pathology data is required to prescribe the best possible therapy in personalized medicine, which can be done by implementing LIS.
Key Takeaways
North America region held dominant position in the global laboratory information systems market in 2018, accounting for 57.5% share in terms of volume, followed by Europe.
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Services segment in the global laboratory information systems market was valued at US$ 862.3 Mn in 2018 and is expected to reach US$ 2,013.7 Mn by 2027 at a CAGR of 9.6% during the forecast period.
Market Trends
Asia Pacific is expected to witness significant growth in the global laboratory information systems market, owing to increasing medical tourism in the region. For instance, according to India Brand Equity Foundation’s January 2019 release, the estimated Foreign Tourist Arrivals (FTAs) in India on medical purpose during the years 2015, 2016, and 2017 were 2,33,918, 4,27,014, and 4,95,056 respectively.
Moreover, high prevalence of cancer is also expected to aid in growth in the global laboratory information systems market in Asia Pacific. For instance, according to the study, ‘Trends in thyroid cancer incidence in India’, published in May 2018 in the Journal of Clinical Oncology, the incidence rate of thyroid cancer in India in women increased from 2.4 to 3.9 and in men from 0.9 to 1.3, a relative increase of 62% and 48% respectively during 2004/05 to 2013/14.
Global Laboratory Information Systems Market: Restraints
Lack of skilled IT professionals and personnel is expected to hinder growth of the global laboratory information systems market. For instance, in 2018, the University of Minnesota estimated a lack of over 9,000 laboratory professionals, annually in the U.S.
Global Laboratory Information Systems Market: Competitive Landscape
Major players operating in the global laboratory information systems market include, Cerner Corp., CompuGroup Medical, Evident, Epic Systems Corporation, LabWare, McKesson, Medical Information Technology, Orchard Software, Roper Technologies Inc., Sunquest Information Systems, Inc., and SCC Soft Computer.
Global Laboratory Information Systems Market: Key Developments
Major players operating in the global laboratory information systems market are focused on adopting partnership strategies to enhance their market share. For instance, in December 2019, Evident, a member of the CPSI (NASDAQ: CPSI) family of companies and a leading provider of electronic health record (EHR) systems and services, and Sunnybrook Health Sciences Center announced that Sunnybrook and CPSI have signed definitive agreements to create a first-of-its-kind, Canadian-made Hospital Information System (HIS) solution.
Global Laboratory Information Systems Market: Segmentation
- Laboratory Information Systems Market, By Component Type:
- Software
- Hardware
- Services
- Laboratory Information Systems Market, By Delivery Mode:
- On Premise
- Cloud-Based
- Laboratory Information Systems Market, By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
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➡Add weight to presentations and pitches by understanding the future growth prospects of the emerging Laboratory Information Systems Market with five year historical forecasts
➡Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region .
Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Laboratory Information Systems Market Size Analysis from 2021 to 2028
11.6 COVID-19 Outbreak: Laboratory Information Systems Industry Impact
Chapter 2 Global Laboratory Information Systems Competition by Types, Applications, and Top Regions and Countries
2.1 Global Laboratory Information Systems (Volume and Value) by Type
2.3 Global Laboratory Information Systems (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Laboratory Information Systems Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Laboratory Information Systems Market Analysis
Chapter 6 East Asia Laboratory Information Systems Market Analysis
Chapter 7 Europe Laboratory Information Systems Market Analysis
Chapter 8 South Asia Laboratory Information Systems Market Analysis
Chapter 9 Southeast Asia Laboratory Information Systems Market Analysis
Chapter 10 Middle East Laboratory Information Systems Market Analysis
Chapter 11 Africa Laboratory Information Systems Market Analysis
Chapter 12 Oceania Laboratory Information Systems Market Analysis
Chapter 13 South America Laboratory Information Systems Market Analysis
Chapter 14 Company Profiles and Key Figures in Laboratory Information Systems Business
Chapter 15 Global Laboratory Information Systems Market Forecast (2021-2027)
Chapter 16 Conclusions
Research Methodology
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