Laboratory Information Systems Market Research Report
The laboratory information systems market is expected to register 9.5% CAGR and is anticipated to reach USD 3.8 Billion during the forecast period 2022-2030. LIS reduces specimen handling time, increases productivity, and improves turn-around time by streamlining laboratory processes. The rising demand for lab automation and efficiency, the increasing incidence of chronic diseases, the surge in demand for personalized medicine, the growth of integrated LIS, and the growing popularity of cloud-based LIS are all expected to provide significant growth opportunities for market players, developing economies.
Key Player- The laboratory information systems industry is a very vast industry that includes independent labs, blood banks, nursing homes, hospital labs, doctor’s clinics, and government independent labs. The Laboratory Information Systems Market Players are Sysmex Corporation, XIFIN Inc., Margy Tech, Cerner Corporation, Roper Industries, McKensson Corporation, Thermo Fisher
Laboratory Information Systems Market Insights are segmented as clinical trials, industrial use, and discovery of drugs by application.
By Product Type: Standalone and Integrated
By Component: Software and Services
By Delivery Mode: On-premise, Web-based, and Cloud-based
By End User: Hospital Laboratories, Independent Laboratories, Physician Laboratories, and Others
By Geography: North America (U.S., Canada, and Mexico), Asia-Pacific (India, China, Japan, Australia & New Zealand, South Korea, and Rest of Asia-Pacific), Europe (Germany, France, UK, Italy, Russia, Spain, and Rest of Europe), South America (Argentina, Brazil, and Rest of South America) and Rest of World (the Middle East and Africa).
The Laboratory Information Systems Market Outlook has been rising for the previous decade, with more clinics, hospitals, and pharmaceutical companies investing in the market. The growing number of research studies and clinical trials being conducted to combat chronic diseases has raised the need to invest in and build advanced laboratories capable of accurately determining the causes of these disorders. According to Laboratory information systems industry standards, North America ranks first in the world for having invested the most money in labs and clinics. Europe is the second most LIS-invested country after the United States, providing local and global healthcare companies opportunities.
Due to their growing populations, Asia-Pacific countries such as India, Malaysia, China, Japan, and Singapore have marketed the Laboratory information systems business. Clinical trials of chronic diseases, exchanging and marketing knowledge about different diseases around the world to prevent another pandemic, medication creation by pharma firms to create improved healthcare systems, and other factors all impact the Laboratory information systems sector market.
The growing demand for lab automation propels the laboratory information system industry forward. A growing number of people are getting a battery of tests, putting further strain on laboratories. Clinical laboratories are employing more healthcare workers to lower the workload on existing staff and lessen the number of errors that come with it, to improve the lab's efficacy and efficiency in producing accurate results. According to the Bureau of Labor Statistics, an extra 12,000 clinical laboratory workers are needed each year to meet demand, but only half of that number is joining the sector. As a result, laboratories choose automation to make their jobs easier.
A cloud-based laboratory information system is predicted to become the main trend in the laboratory information systems market. Cloud computing is defined as the sharing of computer resources and services, such as storage as well as servers, over the internet to lower costs, productivity, increase speed, and network security. The cloud system in laboratory information systems provides several benefits, including improved findings, cost-effectiveness, and progress without additional space.
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