Laboratory Information System Industry Analysis, Size, Growth and Trends

by PSMR Industry Web Marketing

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.

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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.

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.

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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.

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Created on Oct 16th 2017 17:37. Viewed 607 times.


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