Laboratory Information Systems (LIS) Global Industry Report is expected to reach CAGR of 7.3% by 2020.

Press Release: Pune, India- 17th July , 2017

Global Laboratory Information Systems (LIS) Market Development and Forecast to 2020

Key Findings
•    The global LIS market is expected to grow at a CAGR of 7.3% between 2015 and 2020, driven by growth in both developed and emerging markets.
•    Clinical application will be one of the driving factors of numbers in the global LIS market.
•    North America and Europe, contributed more than 75% of the global total market size in 2014. Emerging markets such as China and India are expected to generate a significant demand for LIS during the period, 2015-2020.
•    Software accounts for most of the global LIS market in terms of components.
•    Based on delivery mode, web-based solutions are expected to drive growth better than on-premise technologies. Implementation of cloud-based solution will help the LIS market to grow further in forthcoming years.

Report Description
Introduction 
Laboratory information system (LIS) is a comprehensive information system developed and configured to process, store and manage information pertaining to industrial and medical laboratories which include clinical and analytical laboratories. LIS plays an important role in streamlining the process and generating high-quality data to support effective clinical decisions. The LIS provides information that helps hospitals in diagnosis, prevention, management and treatment of diseases, and acts as an indicator for public health. The LIS has now emerged as a necessity for the laboratories of both small and large diagnostic and drug companies. Better management of data and incorporation of collaborative technological tools in their day-to-day operations, have become crucial for both clinical and analytical laboratories.

LIS, used in both large and small scale companies, provide a platform to automatically obtain, store and archive information, track samples, and generate reports, efficiently. The LIS products vary widely in terms of cost, sophistication, and industrial focus. As industrial and medical laboratories are diverse with different requirements, there is no standard information system designed for laboratories. Therefore, an LIS is customized, developed, and configured according to the unique requirements of each laboratory.
There are various applications of LIS including drug delivery and clinical diagnostics. The LIS, in clinical diagnostics, include anatomic pathology systems, microbiology, genetic and molecular diagnostics support systems, blood bank systems, and billing or accounts receivable or revenue cycle management (RCM) systems. 

The major components of LIS are hardware, software, and services. Hardware mainly consists of servers, data input, output and storage devices. Software includes the interface of integrated LIS which helps in managing and analyzing data efficiently. The key delivery modes used for LIS are web-based, on-premise, mobile solutions, and cloud-based technology. 

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The leading market players in the global LIS market are Cerner Corporation (U.S.), Eclipsys Corporation (U.S.), LabVantage Solutions Inc (U.S.), LabWare Inc (U.S.), McKesson Corporation (U.S.), Medical Information Technology Inc. (Meditech) (U.S.), Merge Healthcare Inc (U.S.), STARLIMS Corporation (Abbott Laboratories) (U.S.), Sunquest Corporation (Roper Industries), Thermo Fisher Scientific Inc. (U.S.), and others.

STUDY OBJECTIVES OF LABORATORY INFORMATION SYSTEMS (LIS) MARKET DEVELOPMENT AND FORECAST TO 2020
Ø    To provide insights about factors, influencing and affecting the market growth.
Ø    To provide historically and forecast revenue of the market segments and sub-segments with respect to regional markets and their countries.
Ø    To provide historically and forecast revenue of the market segments based on products, and sub-segment for global LIS market. 
Ø    To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market.
Ø    To provide economic factors that influence the global LIS market. 

Target Audience 
•    Pharmaceutical companies 
•    Research Laboratories
•    Hospitals & Clinics
•    Service Suppliers
•    Potential Investors
•    Key executive (CEO and COO) and strategy growth manager 

Regional and Country Analysis of laboratory information systems (LIS) market development and forecast to 2020
As per the MRFR analysis, the North American laboratory information systems (LIS) market is expected to reach $1,211.9 Million by 2020, with a growing CAGR of around XX% during the forecast period. The value of the European market was around $ 332.7 Million in 2014 and is estimated to reach $ 498.4 Million by 2020. Asia-Pacific continues to be the fastest growing region during the forecast period. The reports also cover country level analysis: 
•    Americas
o    US
o    Canada
•    Europe
o    Germany
o    The U.K.
o    France
o    RoE
•    Asia-Pacific
o    China
o    Japan
o    India
o    Rest of APAC

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 List of Abbreviations 
Chapter 1.

Research Scope & Methodology 11
1.1 Market Definition 11
1.2 Market Breakdown by Application, Component and Delivery 11
1.3 Market Breakdown by Geography 12
1.4 Research Methodology and Sources 13

Chapter 2.

 Executive Summary 14
2.1 Key Findings 14
2.2 Research Summary 14

Chapter 3.

Market Outlook 17
3.1 Introduction 17
3.1.1 Laboratory Information System Process 18
3.2 Trends in the Market 19
3.2.1 Usage of Advanced Diagnostics Techniques and Tools 19
3.2.2 Adoption of Mobile Based Solutions and Application 19
3.2.3 Development of New and Innovative Products 20
3.3 Opportunities in the Market 20
3.3.1 Increasing Demand in Personalized Medical Care 20
3.3.2 Untapped Market in Emerging Economies 21
3.3.3 Growth of Remote Patient Monitoring 21
3.3.4 Need of Integrated IT systems in Diagnostics and Medical Laboratories 22
3.4 Factors Driving the Market and Its Impact on Market Forecast 22
3.4.1 Need for Advanced Healthcare Information System 22
3.4.2 Growth in Molecular Diagnostics 23
3.4.3 Cloud computing in LIS 23
3.4.4 Need for Increased Lab Productivity 23
3.4.5 Cost Improvement Measures of Hospitals 25
3.4.6 Compliance with government regulations and initiatives 25
3.4.7 Increasing Investment from Healthcare IT players 26
3.4.8 Large Geriatric Population Base in Emerging Economies 26
3.4.9 Impact Analysis of Drivers on the Market Forecast 27
3.5 Factors Hindering the Market and Its Impact on Market Forecast 27
3.5.1 Lack of Skilled Professionals 27
3.5.2 Difficulty in Integration of Information with Laboratory Equipment 28
3.5.3 Risk Related to Confidentiality and Managing Information 28
3.5.4 High Capital Expenditure and Maintenance Requirement 28
3.5.5 Impact Analysis of Restraints on Market Forecast 29

Chapter 4.

 Global Market Size and Forecasts (2011 – 2020) 30
4.1 Global Market Breakdown by Application 31
4.2 Global Market Breakdown by Components 32
4.3 Global Market Breakdown by Delivery 33
4.4 Global Market Breakdown by Region 34

Chapter 5.

Global Market Breakdown by Application 35
5.1 Clinical LIS Market 35
5.2 Drug Discovery LIS Market 37
5.3 Industrial LIS Market 38

Chapter 6.

 Global Market Breakdown by Components 40
6.1 Software in LIS Market 41
6.2 Hardware in LIS Market 42
6.3 Services in LIS Market 43

Continued…………       

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