Global Laboratory Information System /LIS Market

Dec 2018| VMR242A| Verified Market Research

Report Highlights

Market Overview:
The Global Laboratory Information System/LIS was valued at USD 1.27 billion in 2016 and is projected to reach USD 2.66 billion by 2025, growing at a CAGR of 8.56% from 2017 to 2025.

A laboratory information system (LIS) is a software system that records, manages, and stores data for clinical laboratories. A LIS has traditionally been most adept at sending laboratory test orders to lab instruments, tracking those orders, and then recording the results, typically to a searchable database. The standard LIS has supported the operations of public health institutions (like hospitals and clinics) and their associated labs by managing and reporting critical data concerning the status of infection, immunology, and care and treatment status of patients.

Market Dynamics:
1. Market Drivers
1.1 Increasing cases of Chronic Diseases
1.2 Government support for Healthcare IT systems implementation
1.3 Need to enhance Lab efficiency
1.4 Cost cutting in Healthcare
1.5 Launching of new products

2. Market Restraints
2.1 High Cost of Lab Information system
2.2 Lack of IT Professionals

Market Segmentation:
1. Global Laboratory Information System/LIS, by Delivery Mode:
1.1 On Premise
1.2 Web Based
1.3 Cloud Based

2. Global Laboratory Information System/LIS, by Product:
2.1 Standard LIS
2.2 Integrated LIS

3. Global Laboratory Information System/LIS, by Component:
3.1 Services
3.2 Software

4. Global Laboratory Information System/LIS, by End User:
4.1 Hospital Laboratories
4.2 Independent Laboratories
4.3 Physician Office Laboratories
4.4 Other end users

5. Global Laboratory Information System/LIS, by Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. Cerner Corporation
2. Mckesson Corporation
3. Sunquest Information Systems, Inc. (Acquired By Roper Technologies, Inc.)
4. EPIC Systems Corporation
5. Meditech (Medical Information Technology, Inc.)
6. Compugroup Medical AG
7. Computer Programs and Systems, Inc. (CPSI)
8. Merge Healthcare, Inc. (Subsidiary of International Business Machines (IBM) Corp.)
9. SCC Soft Computer
10. Orchard Software Corporation

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Laboratory Information System /LIS Marketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.

The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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