A recent report published by Infinium Global Research on laboratory information system market provides in-depth analysis of segments and sub-segments in the global as well as regional laboratory information system market.
Pune, India -- (SBWIRE) -- 01/15/2020 -- The latest report on "Laboratory Information System Market (Application - Drug Delivery Laboratory Information Systems, and Clinical Diagnostics Laboratory Information Systems; Delivery - Web-based, and On-premise; Components - Software, and Hardware): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024." 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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Laboratory Information System Market: Industry Insights
Laboratory Information System is computer software that processes, stores, and manages data from all levels of medical processes and tests. The laboratory information system manages all the clinical details about the patient. The system can be used as a web pool or on a personal computer. A laboratory information system was traditionally used to send laboratory test orders to lab instruments, also it tracks those orders and then records the results. The laboratory information system captures the data electronically which leads to saving time and also reduces the number of errors.
Increasing Adoption of Laboratory Information System for Improving Accuracy is Primarily Driving the Growth of the Laboratory Information System Market
The increasing adoption of a laboratory information system for improving accuracy is primarily driving the growth of the laboratory information system market. The use of a laboratory information system reduces the cost and provides easy maintenance. It is beneficial in quality control as well as order management. Furthermore, several financial, operational, inventory, reports and tests are available in various formats in the laboratory information system. The market is also driven by increasing demand for remote patient monitoring. On the flip side, there is a lack of skilled professionals which is likely to restrain the growth of this market. Moreover, the growing advancements and increasing use of technology in diagnostic and medical laboratories are creating fruitful opportunities for the laboratory information system market.
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Software Segment Shows Rapid Growth as There is Demand for the Laboratory Information System Software in the Diagnostic Centers
The laboratory information system market is classified on the basis of application, delivery, and components. Based on applications, the market is divided into drug discovery laboratory information system market and clinical diagnostic laboratory information system. Based on delivery, the market is divided into web-based and on-premise. Based on the components, the market is divided into hardware and software. The software segment shows rapid growth as there is a demand for the laboratory information system software in the diagnostic centers. Laboratory information system software enables the laboratory to manage both logistic and analytical data also it provides an interface with the corporate reporting software.
North America Dominates the Global Laboratory Information System Market
Geographically, the laboratory information system market is classified into North America, Asia Pacific, Europe and the rest of the world. North America dominates the global laboratory information system market. The U.S. drives the market in the North America region. North America region has advanced infrastructure and there is a demand for genomic studies. The government support also favors the adoption of a laboratory information system. Canada and Mexico show rapid growth in the North America laboratory information system market. In the Asia Pacific region major market growth is seen in China, Japan, India, South Korea, and Malaysia.
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Laboratory Information System Industry: Competitive Analysis
The global laboratory information system market comprises of many competitors with players such as Allscripts Healthcare Solutions Inc., Athenahealth Inc., Agfa Gevaert N. V., Centre Corporation, Epic systems Corporations, GE Healthcare, Medidata Solutions Inc., Mckesson Corporation, and Nextgen Healthcare Information System, LLC and Siemens Healthiness among others. Many new players are entering the market and the market gets more fragmented.
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the laboratory information system.
=> Complete coverage of all the product type and application 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.