The Infinium Global Research analyzes the Laboratory Information System Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global laboratory information system market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of laboratory information system. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the laboratory information system market during the period. The global laboratory information system market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.
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A laboratory information system (LIS) is a healthcare information system that holds clinical data. An LIS software system records manager, and stores data for clinical laboratories from all stages of medical processes and tests. A Laboratory information system has traditionally been most adept at sending laboratory test orders to lab instruments, tracking those orders, and then recording the results, typically to a searchable database. The standard LIS has supported the operations of public health institutions and their associated labs by managing and reporting critical data concerning the status of infection, immunology, and care and treatment status of patients. Physicians and lab technicians use laboratory information systems to coordinate varieties of inpatient and outpatient medical testing, including hematology, chemistry, immunology, and microbiology. They are widely used by medical laboratories in high-income countries.
Improved Efficiency, Cost Reduction, and Easy Maintenance Will Boost the Growth of the Laboratory Information System
The electronic data capture process of and reduces the time spent and cut errors associated with the transcribing process. The improved efficiency, cost reduction, and easy maintenance will boost the growth of the laboratory information system. Reports can be automatically generated and access to information can be quickly gained by using an LIS. An efficient laboratory information system helps to avoid workload and stress by automating tasks and processes on the core system. The financial, operational, inventory, reports and tests available in various formats in a laboratory information system. A modern laboratory information system such as Care Data Informatics helps lab owners mine data, analyze trends and make accurate projections and thereby increases revenue.
However, the lack of experienced professionals and high development cost of software hinders the growth of the Laboratory information system. This system also provides the ability to go paperless and ensures compliance through a structured approach. Moreover, the rapid revolutionization in the diagnostic and medical laboratories is creating an opportunity for the growth of healthcare information system in emerging laboratory information system.
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North America Holds the Largest Market Share in the Laboratory Information System Market
North America holds the largest market share in the laboratory information system market owing to the increased adoption of new technologies in the healthcare sectors. Healthcare IT systems are widely being implemented in countries such as the U.S. and Canada that boost the market growth in this region. Europe holds the second largest market in the laboratory information system owing to the technological advancements in the healthcare industry and increasing focus on data management and governance. The Asia Pacific is expected to be the fastest growing market during the forecast period. The major factor that would drive the market in Asia Pacific regions is the increased efficiency provided by the laboratory information system to manage data in the healthcare sector.
Segments in the Laboratory Information System Market
The report on global laboratory information system market covers segments such as application, delivery, and components. On the basis of application, the global laboratory information system market is categorized into drug delivery laboratory information systems and clinical diagnostics laboratory information systems. On the basis of delivery, the global laboratory information system market is categorized into web-based, and on-premise. On the basis of components, the global laboratory information system market is categorized into software and hardware.
Key Players of the Laboratory Information System Industry
The report provides profiles of the companies in the global laboratory information system market such as Allscripts Healthcare Solutions, Inc., Athenahealth, Inc., Agfa-Gevaert N.V., Cerner Corporation, Epic Systems Corporation, GE Healthcare, Medidata Solutions, Inc., Mckesson Corporation, and Nextgen Healthcare Information Systems, LLC, Siemens Healthiness.
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- Comprehensive analysis of global as well as regional markets of the laboratory information system.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research– Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.