Increasing Demand for Improved Laboratory Efficiency Boost the Growth of Laboratory Information System Market to reach US$2.15 Billion by 2019

Clinical diagnostics laboratory information system has the largest market share on the basis of its applications and is expected to grow at a CAGR of about 8.9% during 2013 – 2019. On the basis of its mode of delivery, the market can be classified into web based technology, on-premise technology and cloud based technology market for laboratory information systems. North America has the largest laboratory information systems market. Rising cases of fatal diseases and their diagnostic and treatment needs are some of the major factors driving the demand for laboratory information systems in the region. Also, its public funded structure is acting as a significant driver for the North American market for laboratory information systems.

McKesson Corporation is the leading player in the laboratory information systems market. Other major players of laboratory information systems market include Merge Healthcare Incorporated, Cerner Corporation and others.

In addition to increasing disease incidences, government initiatives to promote the use of laboratory information systems have resulted in Europe becoming the fastest growing laboratory information systems market. At the country level, some of the fastest growing markets for laboratory information systems market include Japan, Germany, U.S. and U.K.. Emerging markets which hold huge potential and increasing demand for powerful IT systems in diagnostic and medical laboratories are some of the major opportunities for the laboratory information systems market.

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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.

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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