Enhancing Efficiency and Accuracy: Laboratory Information Systems Market Analysis
Ngày đăng: 14-02-2024 |
Ngày cập nhật: 14-02-2024
Market Scenario
The global laboratory information systems size is projected to grow USD 3.8694 billion by 2030 at CAGR of 9.50% during the forecast period 2023-2030.
The Laboratory Information Systems (LIS) market is witnessing steady growth driven by increasing demand for efficient data management solutions in healthcare and research settings. LIS facilitates streamlined workflow, data accuracy, and regulatory compliance, enhancing laboratory operations' efficiency. Key factors fueling market expansion include technological advancements like cloud-based systems, integration with Electronic Health Records (EHR), and rising adoption of laboratory automation. Furthermore, the growing prevalence of chronic diseases and the need for accurate diagnostic tools continue to propel market growth. However, factors such as high implementation costs and data security concerns pose challenges to market players. Overall, the LIS market shows promising growth prospects amidst evolving healthcare needs.
Laboratory inventory management systems leverage advanced technologies like barcode scanning and RFID to accurately track inventory levels and movements within the laboratory. This technology-driven approach improves inventory accuracy, reduces manual errors, and enables seamless inventory replenishment. Additionally, laboratory inventory software offers features such as customizable dashboards and reporting capabilities, empowering laboratory managers to make data-driven decisions regarding inventory optimization and resource allocation. As laboratories face increasing pressure to improve operational efficiency and reduce costs, the adoption of laboratory inventory management systems is expected to rise steadily, driving further growth in the LIS market. Moreover, with the growing emphasis on compliance with industry regulations and quality standards, laboratories are increasingly turning to advanced LIS solutions to ensure regulatory compliance while streamlining their inventory management processes. Overall, laboratory inventory management systems are poised to play a pivotal role in shaping the future of laboratory operations, driving efficiency, accuracy, and compliance across the industry.
Key Players
global laboratory information systems market players include Cerner Corporation, Recent Developments, Eclipsys Corporation, Merge Healthcare Inc., STARLIMS Corporation, Sunquest Corporation and Thermo Fisher Scientific Inc., LabVantage Solutions Inc., LabWare Inc., McKesson Corporation, Medical Information Technology Inc., and others.
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.
Market Segmentation
The laboratory information systems lis is segmented on the basis of application, components, and delivery.
By applications, the market is segmented based on clinical LIS, drug discovery LIS, and industrial LIS. The clinical application of LIS holds the largest market share as using LIS software involves more productivity and less paperwork, enhanced patient safety, and improved turn-around time.
By components, the market is segmented based on software, hardware, and services. Among these, the software segment accounts for the majority of the global LIS market due to increasing product enhancements and advent of innovative LIS software systems which ensures the smooth running of the healthcare department.
By delivery, the market is segmented on the basis of web-based, on-premise and cloud-based. Among these, cloud-based LIS software is highly popular as it offers various benefits such as cost savings, high security, flexibility, mobility and quality control.
Regional Analysis
By region, the global laboratory information systems market insights is segmented on the basis of North America, Europe, Asia Pacific and the Rest of the World (RoW).
The joint market share combining North America and Europe was more than 75% of the global total market size in 2014. However, North America has currently secured the top position claiming the largest market share. This stupendous growth can be attributed to increasing cases of fatal diseases and subsequent diagnostic and treatment needs. Moreover, high disposable income and strong economy also help augment the market growth in the region. Furthermore, increasing business opportunities for healthcare service providers along with growing demand for automated instruments rising in laboratories has majorly triggered the market growth in the region.
On the other hand, the Europe LIS market is estimated to grow tremendously during the forecast period, due to massive investment by healthcare IT players and a barrage of players trying to enter the regional market and establish themselves. Moreover, thriving healthcare industry and sophisticated medical infrastructure also play a major role in the growth of the regional market.
The Asia-marked Pacific is also presumed to grow at a significant pace throughout the forecast period. This growth is due to increased infectious diseases, significant increase in healthcare expenditure and advancements in healthcare IT sector. The market growth in the region is also aided by growing need for enhancing the efficiency of medical laboratories, growing demand for error-free diagnosis and increasing integration of information system with laboratories.
The rising aging population and increasing cases of fatal diseases in the regions of Middle East and Africa have propelled the market growth in the region. Also, the market in the region is highly fragmented, and the regional market players used various strategies such as product launches, expansions, and joint ventures to increase their footprint in the region. This gives a significant push to the market and will continue to do so in the coming years as well.
For more information, Please Visit us @ Market Research Future
The global laboratory information systems size is projected to grow USD 3.8694 billion by 2030 at CAGR of 9.50% during the forecast period 2023-2030.
The Laboratory Information Systems (LIS) market is witnessing steady growth driven by increasing demand for efficient data management solutions in healthcare and research settings. LIS facilitates streamlined workflow, data accuracy, and regulatory compliance, enhancing laboratory operations' efficiency. Key factors fueling market expansion include technological advancements like cloud-based systems, integration with Electronic Health Records (EHR), and rising adoption of laboratory automation. Furthermore, the growing prevalence of chronic diseases and the need for accurate diagnostic tools continue to propel market growth. However, factors such as high implementation costs and data security concerns pose challenges to market players. Overall, the LIS market shows promising growth prospects amidst evolving healthcare needs.
Laboratory inventory management systems leverage advanced technologies like barcode scanning and RFID to accurately track inventory levels and movements within the laboratory. This technology-driven approach improves inventory accuracy, reduces manual errors, and enables seamless inventory replenishment. Additionally, laboratory inventory software offers features such as customizable dashboards and reporting capabilities, empowering laboratory managers to make data-driven decisions regarding inventory optimization and resource allocation. As laboratories face increasing pressure to improve operational efficiency and reduce costs, the adoption of laboratory inventory management systems is expected to rise steadily, driving further growth in the LIS market. Moreover, with the growing emphasis on compliance with industry regulations and quality standards, laboratories are increasingly turning to advanced LIS solutions to ensure regulatory compliance while streamlining their inventory management processes. Overall, laboratory inventory management systems are poised to play a pivotal role in shaping the future of laboratory operations, driving efficiency, accuracy, and compliance across the industry.
Key Players
global laboratory information systems market players include Cerner Corporation, Recent Developments, Eclipsys Corporation, Merge Healthcare Inc., STARLIMS Corporation, Sunquest Corporation and Thermo Fisher Scientific Inc., LabVantage Solutions Inc., LabWare Inc., McKesson Corporation, Medical Information Technology Inc., and others.
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.
Market Segmentation
The laboratory information systems lis is segmented on the basis of application, components, and delivery.
By applications, the market is segmented based on clinical LIS, drug discovery LIS, and industrial LIS. The clinical application of LIS holds the largest market share as using LIS software involves more productivity and less paperwork, enhanced patient safety, and improved turn-around time.
By components, the market is segmented based on software, hardware, and services. Among these, the software segment accounts for the majority of the global LIS market due to increasing product enhancements and advent of innovative LIS software systems which ensures the smooth running of the healthcare department.
By delivery, the market is segmented on the basis of web-based, on-premise and cloud-based. Among these, cloud-based LIS software is highly popular as it offers various benefits such as cost savings, high security, flexibility, mobility and quality control.
Regional Analysis
By region, the global laboratory information systems market insights is segmented on the basis of North America, Europe, Asia Pacific and the Rest of the World (RoW).
The joint market share combining North America and Europe was more than 75% of the global total market size in 2014. However, North America has currently secured the top position claiming the largest market share. This stupendous growth can be attributed to increasing cases of fatal diseases and subsequent diagnostic and treatment needs. Moreover, high disposable income and strong economy also help augment the market growth in the region. Furthermore, increasing business opportunities for healthcare service providers along with growing demand for automated instruments rising in laboratories has majorly triggered the market growth in the region.
On the other hand, the Europe LIS market is estimated to grow tremendously during the forecast period, due to massive investment by healthcare IT players and a barrage of players trying to enter the regional market and establish themselves. Moreover, thriving healthcare industry and sophisticated medical infrastructure also play a major role in the growth of the regional market.
The Asia-marked Pacific is also presumed to grow at a significant pace throughout the forecast period. This growth is due to increased infectious diseases, significant increase in healthcare expenditure and advancements in healthcare IT sector. The market growth in the region is also aided by growing need for enhancing the efficiency of medical laboratories, growing demand for error-free diagnosis and increasing integration of information system with laboratories.
The rising aging population and increasing cases of fatal diseases in the regions of Middle East and Africa have propelled the market growth in the region. Also, the market in the region is highly fragmented, and the regional market players used various strategies such as product launches, expansions, and joint ventures to increase their footprint in the region. This gives a significant push to the market and will continue to do so in the coming years as well.
For more information, Please Visit us @ Market Research Future
