Press release
Global Laboratory Information System (LIS) Market to Witness 7% CAGR during 2015 -2020 by P&S Market Research
Explore Report Description with Detailed TOC of “Global Laboratory Information System Market” at: www.psmarketresearch.com/market-analysis/laboratory-information-system
Driven by technological improvement in healthcare services across the globe, the market for LIS was valued at $1,438.5 million in 2014. Further, the LIS market is expected to grow at a CAGR of 7.3% during the period 2015 to 2020, to reach $2,184.1 million by 2020. Rising need for improved laboratory efficiency, especially in the healthcare sector, is playing an important role in the overall growth of the LIS market. There are several other factors encouraging the market, such as significant investments from healthcare IT companies and surge in number of hospitals realizing the importance of LIS.
Rising need for integrated healthcare information systems, increase in healthcare initiatives by governments and continuous investments by major healthcare players also significantly impact the growth of the market. The LIS market is also poised for growth driven by major opportunities in emerging economies that hold significant potential in terms of demand of efficient and high quality laboratory information, and the need for powerful IT systems in diagnostic and medical laboratories.
Explore Report sample at: www.psmarketresearch.com/market-analysis/laboratory-information-system/report-sample
Significant increase in adoption of smart phones is one of the key trends in the LIS market. The market is expected to witness rapid growth in demand of mobile based applications and solutions. In addition, new product launches is another major trend witnessed in the LIS market.
The application market of LIS has been categorized as clinical, drug discover and industrial. By application, the Clinical LIS segment accounted for the largest share in the global LIS market and it reported CAGR of 7.6% during 2011 to 2014, the highest among all segments. The growth of clinical LIS market was mainly driven by increasing numbers of tests and higher cost due to the emergence of new technologies.
Based on the components, the LIS market can be classified as software, hardware and services. The software segment accounted for the major portion of the global LIS market, followed by hardware and services. The software segment witnessed a CAGR of 7.2% during the period 2011 to 2014, the highest growth among all the components.
The global LIS market is in growing phase in most of the countries and there are few large vendors holding the significant market share. Many new players are also entering the market, and the consolidation of small players with large players is shaping the competitive landscape. The competition in the LIS market is tough and the market players are trying to sustain themselves by differentiating their LIS products from their competitors. STARLIMS Corporation, Sunquest Corporation, McKesson, LabWare and LabVantage are some of the leading market players offering LIS solutions.
Browse more reports on Healthcare: www.psmarketresearch.com/industry-report/healthcare
Global LIS Market Segmentation
Global LIS Market by Application
• Clinical
• Drug discovery
• Industrial
Global LIS Market by Components
• Software
• Hardware
• Services
Global LIS Market by Delivery
• Web-based
• On-premise
• Cloud based
Geographical Segmentation
Global LIS Market by Region
• North America
o The U.S.
o Canada
• Europe
o Germany
o France
o The U.K.
• Asia Pacific
o India
o China
o Japan
• Rest of the World (ROW)
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With the help of our professional corporate relations with various companies, our market research offers the most accurate market forecasting. Our analysts and consultants interact with leading companies of the concerned domain to substantiate every single data presented in our publication. Our research assists our client in identifying new and different windows of opportunity and frame informed and customized strategies for expansion in different regions.
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