Press release
Laboratory Information System Market will Rise at 7.70% CAGR Between 2013 and 2019
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TMR pegged the global laboratory information system market at US$1,381.4 bn in 2013. Furthermore, it has forecast the market to reach US$2,158.0 bn by the end of 2019. Considering these numbers hold true, the global laboratory information system market will rise at 7.70% CAGR between 2013 and 2019.
Regionally, North America has emerged dominant in the global laboratory information system market. The rising incidence of chronic ailments and the presence of a sophisticated healthcare infrastructure support the market’s expansion in North America. Among clinical diagnostics laboratory information systems and drug delivery information systems, the former is expected to rise at a CAGR of 8.90% between 2013 and 2019.
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Other than this, lack of adherence to standards can restrict the market to an extent. Laboratory information systems must offer high integrity to reduce chances of data failure. Because the software has a complex design is easy to change, however, it is difficult to test it. Never mind this, the rising use of mobile phones and steps taken to offer innovations by companies are expected to create lucrative opportunities for the market’s growth in the coming years.
In developed countries especially the market will benefit from rising public funding. The rising demand from developed countries across Europe and North America are also expected to help the market exhibit steady growth through the forecast period. The rising demand from fast-growing markets in the U.S., the U.K., Germany, and Japan will therefore boost the global laboratory information system market in the coming years.
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Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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