Laboratory Information System Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Healthcare and Pharmaceuticals | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC409

Introduction

A laboratory information system is a software based information management system with additional features that support a modern laboratory’s operations. Laboratory information system provides several key features including flexible architecture, workflow and data tracking support and data exchange interface. Laboratory information system provides dynamic architecture since the laboratory’s requirements are rapidly evolving and different laboratories often have different needs. Laboratory information system is a healthcare technology tool often used in capturing, recording and managing patent captured data and gathered during medical tests and processes. The stored data and information is saved in the laboratory information system database for future references. Laboratory information systems have various added features such as patient check-in, patient demographics, specimen processing, order entry and result entry. Laboratory information system provides with the information that helps in prevention, treatment, management and diagnosis of a disease, as well as acts as an indicator for population and individual’shealth.

Market Dynamics

Healthy economic growth witnessed in most developing countries across the globe and increase in the number of healthcare IT companies are some major factors driving the overall growth of global laboratory information system market. Uptrend in per-capita expenditure in healthcare in both developing and developed economies is anticipated to lead to a rise in quality of patient treatment and care options, thus fuelling the growth of global laboratory information system market. Also, increasing number of private hospitals, private laboratories and clinics is another key element driving the growth of global laboratory information system market. Rise in government initiatives coupled with increase in need for integrated healthcare information systems and a surge in prevalence of chronic diseases are equally contributing to the growth of global laboratory information system market. However, lack of skilled healthcare IT professionals and high initial costs of laboratory information systems are some key aspects hindering the growth of this market. Moreover, increasing use of mobile phones is the pertaining trend in the laboratory information system market.

Market Classification and Overview

The global laboratory information system market can be segmented on the basis of end-user, component type, delivery mode and geography. On the basis of end-user, the global laboratory information system market can be segmented into clinics, hospitals, independent laboratories and others. By component types, the global laboratory information system market can be segmented into services, hardware and software. By delivery modes, the global laboratory information system market can be segmented into cloud based and on-premises. Geographically, the global laboratory information system market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA) and Asia-Pacific.

North America in the global laboratory information system market is anticipated to account for the largest market share due to increasing consumer preferences towards managed and enhanced laboratory information services. Europe is expected to account for the second largest market share by the end of forecast period due to increasing investments by the governments of various economies like Russia, Poland, Germany etc. Also, Asia-Pacific is anticipated to witness the fastest growth over the forecast period due to increasing developments in the healthcare facilities, especially in the developing economies like India, China, Japan, etc. Middle East & Africa (MEA) is also expected to witness significant growth in the global laboratory information system market due to increasing per capita disposable incomes in the region.

Report Coverage

Market

Global Laboratory Information System Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

End-User, Component Type, Delivery Mode, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

The global laboratory information system market consist of various key players concentrating on strategies like acquisitions with cloud and other established software companies to achieve ease in data management and product development. Major players in the global laboratory information system market include LabWare, Cerner Corp, Medical Information Technology, McKesson, Evident, CompuGroup Medical, SCC Soft Computer, Sunquest Information Systems Inc., and Epic Systems Corporation among others.

Market Segmentation

Market by End-User

·         Clinics

·         Hospitals

·         Independent laboratories

·         Others

Market by Component Type

·         Hardware

·         Software

·         Service

Market by Delivery Mode

·         Cloud

·         On-premise

Market by Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Philippines

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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