The increasing need to develop and custom-design laboratory systems to cater to the changing laboratory needs is the prime driver of the global laboratory information system market. With IT players accelerating their investment in the healthcare sector, the future of the laboratory information system seems quite promising. Furthermore, the increasing initiative adopted by governments across various countries to ensure improvement in healthcare services will augur well for the global laboratory information system market.
The report presents a comprehensive overview of the global laboratory information system market. For the purpose of the study, the global market is segmented based on delivery mode, component, and region. The regional segments of the market are North America, Asia Pacific, Europe, and Rest of the World. In terms of units, North America has been leading the global laboratory information system market, and is expected to continue its dominance in the year to come.
The report exhaustive information aimed at updating the stakeholders about the prevailing market dynamics. Besides profiling the leading players operating in the market, the report also analyzes the socio-economic factors having impact on the market. The strengths and weaknesses of the companies profiled are studied in detail. The report also focuses on examining the threats and opportunities that these enterprises are likely to face in the forthcoming years.
Transparency Market Research (TMR) projects the global laboratory information system market to report a CAGR of 7.70% between 2013 and 2019. The market’s valuation stood at US$1.3 bn in 2013, and is expected to reach US$2.15 bn by the end of 2019.
Despite exhibiting strong growth, factors such as the high cost of laboratory information system, lack of trained professions, and high expenditure incurred on the maintenance of these systems are inhibiting the market’s growth to an extent. Nevertheless, with the increasing use of mobile phones, leading enterprises in the market are focusing launching products that could be controlled remotely using a simple application downloaded in the user’s smartphone. Such advances are expected to give momentum to the global laboratory information system market in the forthcoming years.
Based on application, clinical diagnostics held the largest share in the market in 2013 and is expected to expand at a CAGR of 8.9% from 2013 and 2019. Regionally, North America dominated the market in 2013. The region has been witnessing an increasing incidence of chronic ailments, which requires accurate diagnosis. This is a major factor bolstering growth of the laboratory information system market in North America. The public funded structure is also giving impetus to the regional market.
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However, the increasing incidence of fatal diseases and favorable government initiatives promoting the use of laboratory information system across its healthcare sector, are boosting the market in Europe at the fastest pace. Globally, the U.S., Japan, Germany, and the U.K. have emerged as the most lucrative markets for laboratory information systems. Besides growth witnessed across developed countries, the market also witnesses strong potential across emerging economies.
To study the vendor landscape of the market, the report has profiled the major players operating therein. McKesson Corporation has been identified as the leading player in the global laboratory information system market. Besides this, the report also includes profiles of other prominent vendors in the market such as Cerner Corporation and Merge Healthcare Incorporated.