What are Key Factors Driving Growth of Global Laboratory Information System (LIS) Market?

Due to the crucial role played by the laboratory information software in patient and hospital management and treatment procedures, laboratory information systems (LIS) are witnessing a soaring demand across the world. Laboratory information software enables the users to store, obtain, manage, and recover laboratory data. In addition to this, the software also helps in the management of information regarding test results and inventory supplies and in the timely maintenance of medical devices and equipment. Furthermore, the improved accuracy of the test results provided by LISs helps the medical practitioners offer better treatment plans to the patients.

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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.

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.

Hence, it is clear that due to the rising volume of laboratory tests and burgeoning need for automated healthcare solutions and more-efficient diagnostic procedures, the demand for laboratory information systems will witness substantial growth in future.

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Created on May 5th 2020 06:37. Viewed 343 times.

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