Market Research Report
Global Laboratory Information Systems Market Research and Forecast, 2018-2023
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|Global Laboratory Information Systems Market Research and Forecast, 2018-2023|
|Published: October 19, 2018||Content info:||
A Laboratory Information Systems (LIS) is a digitalized software which records, manages, and stores data for clinical laboratories. LIS is basically designed to store accurate data of patient health reports which are used in the diagnosis of any disease. LIS can be easily generated and managed by authorized providers in a digital format. Global LIS market is expected to witness a significant growth rate during the forecast period (2018-2023). Factors motivating the growth of this market include an increase in demand of people for better qualities of healthcare services and the growing adoption of cloud-based LIS across various segments of the healthcare sector. Further, initiatives by government authorities such as the association of public health laboratories (APHL) are significantly contributing to the growth of the laboratory information systems across the globe.
High initial cost, complex technological guidelines of LIS software and lack of skilled IT professionals at present are major restraining factors which affect the growth of this market. However, people are more intended for point of care services and cloud-based LIS services enable in providing patient information in a detailed manner from anywhere at any point of time. Currently, the roles and applications of LIS in the healthcare system include clinical care functions and research for an in-depth understanding of reports for better diagnosis. In addition, the increasing healthcare spending by government and people in merging nation to improve nations health are the major opportunities for this market.
Geographically, the global LIS market is divided into North America, Europe, Asia Pacific and Rest of the World. North America region is expected to dominate the market due to the presence of key market players such as GE Healthcare, PerkinElmer Inc. and so on. Further, the presence of a large number of research institutes also contributes to the dominance of the North American market owing to the high adoption of laboratory information system. APAC is anticipated to have the emerging market owing to rising healthcare expenditure and increasing digitalization in countries such as India, as government regulation of these economies will encourage healthcare providers to adopt technically advanced LIS systems. Europe is expected to have a lucrative growth in this market. This is due to the increase in incidences of various diseases, government initiatives to promote the use of LIS for effective diagnosis.
The global players in the LIS market include Abbott Laboratories, Cerner Corporation, Novatek International, Labsoft LIMS, Mckesson corporation and so on. The strategy adopted in these companies are continuous investments in (R&D) which made them progress over the past several years in reducing the total cost of solutions. As a result, the market player may offer low-cost, high-value solutions and services to smaller community hospitals, and physician laboratories. On February 2, 2015, Cerner acquired Siemens Health Services (referred to as "Cerner Corporation") which offers a portfolio of enterprise-level clinical and financial health care information technology solutions, as well as departmental, connectivity, population health, and care coordination solutions globally.
The market study of Global LIS market is incorporated by extensive primary and secondary research conducted by research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report country level analysis is provided by analysing various regional players, regional tax laws and policies, consumer behaviour and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders and industry experts. Primary research brings the authenticity in our reports.
The Report is intended for LIS manufacturers, pharmaceutical companies, research institute, Investing companies, Government Organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on pricing, market size, intended quality of the product preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating in delivering insights into the market for better business decisions.
Global LIS market is segmented on the basis of regional outlook and following segments: