Pune, India -- (SBWire) -- 03/16/2020 --Global Laboratory Information Systems (LIS) Market is expected to rise from its initial estimated value of USD 1.57 billion in 2018 to an estimated value of USD 3.37 billion by 2026, registering a CAGR of 10% in the forecast period of 2019-2026. This rise in market value can be attributed to the increasing Prevalence and Incidence of Chronic Diseases.
Laboratory Information Systems (LIS) Market By Product Type (Standalone LIS, Integrated LIS), Device Type (Clinical LIS, Anatomical LIS), Components (Services, software), Delivery Mode (On-Premise, Remotely-Hosted, Cloud-Based) End-User (Clinical Diagnostic Laboratories, Hospitals, Anatomical Pathology Laboratories, Blood Banks, Molecular Diagnostic Laboratories), Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) - Industry Trends and Forecast to 2026
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Some of the major competitors currently working in the laboratory information systems market are Sunquest Information Systems, Inc., Cerner Corporation, SSC Soft Computer, Compugroup Medical AG, McKesson Corporation, Epic Systems Corporation, Medical Information Technology, Inc., Orchard Software Corporation, Epic Systems Corporation., Allscripts, Quest Diagnostics Incorporated, CPSI), and IBM Watson Health , Computer Programs and Systems, Inc, Merge Healthcare, Inc. Orchard Software Corporation., Abbott , Agilent Technologies, Inc Dassault Systèmes, Others.
Market Definition:
A laboratory information system (LIS), it is computer based software that used to manage and stores the data from all stages of medical processes and verify the data . In laboratory information system Physicians and lab technicians are used to coordinate varieties of inpatient and outpatient medical testing.
There is Rise in adoption of laboratory information management systems (LIMS) among independent and hospital-based. This helps to minimized the error of diagnostic and manage high data volumes the adoption of laboratory informatics in the U.S. is expected to act as a driver to the market growth.
Market Drivers
- Initiatives and strong support from the government to promote healthcare it implementation is going to drive the market.
- Introduce of new and advanced products, act as a driver for the market.
Market Restraints
- Global laboratory information systems (LIS) market, the system charge high cost, this act as a restraint for the growth of the market
- In health industry many people is not aware about laboratory information systems.
Segmentation:
- By Product Type
- Standalone LIS
- Integrated LIS
- By Device Type
- Clinical LIS
- Anatomical LIS
- By Components
- Services
- Software
- By Delivery Mode
- On-Premise
- Remotely-Hosted
- Cloud-Based
- By End-User
- Clinical Diagnostic Laboratories
- Hospitals
- Anatomical Pathology Laboratories
- Blood Banks
- Molecular Diagnostic Laboratories
- By Geography
- North America
- South America
- Europe
- Asia-Pacific
- Middle East and Africa
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Key Developments in the Market:
In February 2018, Sun quest Information Systems, Inc. announced that they won a 10-year tender to provision laboratory-related software solutions and services for the State of Queensland, Australia.
In November 2018, Compu Group Medical launched new software, which breakthrough in the future of medical software in the Czech Republic; it's a flagship product by which the company fulfills its long-term vision of fully electronic healthcare.
Competitive Analysis:
Global laboratory information systems (LIS) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of laboratory information systems market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Reasons to Purchase this Report
Current and future of global laboratory information systems market outlook in the developed and emerging markets
The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
Regions/Countries that are expected to witness the fastest growth rates during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
All segmentation provided above in this report is represented at country level
All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
Table of Contents:
Introduction
Market Segmentation
Market Overview
Executive Summary
Premium Insights
Global, By Component
Product Type
Delivery
Industry Type
Geography
Company Landscape
Company Profiles
Related Reports
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Global Laboratory Information Systems (LIS) Market Current Trends and Future Aspect Analysis 2019-2026: Sunquest Information Systems, Inc., Cerner Corporation, Compugroup Medical AG
The “Global Laboratory Information Systems (LIS) Market” report is a synopsis about how is the market status right now and how will it be in the forecast years for Healthcare IT industry. The report gives details about the top players and brands that are driving the market. Also, Laboratory Information Systems (LIS) Market report gives an in-depth knowledge on what the recent developments, products launches are, while also keeping the track for recent acquisitions, mergers, joint ventures and competitive research in the global market industry.