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Coronavirus Business Impact Laboratory Information System Market : Industry Trends and Developments | P&S Intelligence
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Due to the above-mentioned factors, the global laboratory information system market is expected to observe significant growth in the coming years. A laboratory information system can be defined as software that manages, records, and stores data for clinical laboratories. LISs can be deployed three ways, namely cloud-based, web-based, and on-premises. Out of these, web is the most preferred type of data delivery process amongst the consumers, owing to the easy access to the internet. With rapid advancements in the cloud technology, the cloud-based delivery mode is expected to observe the fastest growth in usage in future.
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The burgeoning adoption of advanced diagnostic devices is the biggest rage currently being witnessed in the laboratory information system market. The most important component of advanced diagnostic tools is laboratory data analytics software, primarily due to its ability to help healthcare organizations in gaining precise insights into laboratory test results. These insights help the medical practitioners in dealing with a plethora of aspects that can improve the healthcare outcomes. The software installed in these devices manages both analytics and logistics data. Moreover, these devices have the ability to work in conjunction with numerous software modules.
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The other factors pushing the demand for LISs across the world are the increasing procurement of monitoring systems in laboratories, surging adoption of information systems by hospitals, clinics, and medical testing centers, rising demand for advanced diagnostic technologies, in order to reduce the errors and improve the efficiency of various healthcare processes, soaring number of government initiatives aimed at encouraging the adoption of advanced healthcare technologies, and increasing adoption of cloud computing.
Owing to the rising prevalence of chronic diseases and the increasing demand for advanced treatment and diagnostic technologies, North America recorded the highest usage of LISs in the past. This region is also expected to register a huge demand for these solutions in the coming years. In North America, the U.S., on account of the increasing incidence of diabetes and obesity, surging healthcare expenditure, and rapid development of advanced diagnostic technologies, is forecast to record higher adoption of LISs in the coming years.
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