Laboratory Information Systems Market Industry Statistics and Growth Trend Analysis Forecast 2020 – 2030 – The Manomet Current

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Laboratory Information Systems Market: Overview

The laboratory information systems market is expected to observe tremendous growth during the forecast period 2020-2030. The increasing popularity of these systems can be attributed to factors such as improved turnaround times, reduced sample handling time, and increased productivity.

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Laboratory information systems are software programs that process, manage and store data from all stages of medical tests and processes. The main purpose of these systems is to provide complete and accurate information to laboratory staff, customers and managers. The main functions of laboratory information systems are the collection and analysis of laboratory data, reporting of data to administration, reporting of test results for patient care, etc. The benefits associated with the use of laboratory information systems will bring tremendous growth opportunities.

On the basis of the product, the laboratory information systems market can be segmented into stand-alone LIS and integrated LIS. On-premise and cloud-based are the delivery methods of laboratory information systems. The use of Laboratory Information Systems market in independent laboratories, hospital laboratories, POL, and others is expected to invite vast growth prospects for the global market.

Laboratory automation is an emerging solution to tackle the shortage of laboratory professionals and reduce manual interventions in laboratory processes. Automation helps deliver high-quality data and allows individual researchers to focus on other important tasks. Additionally, laboratory automation reduces human errors that occur due to repetitive tasks such as moving plates and pipetting, improving accuracy. All these factors are playing an important role in increasing the growth rate of Laboratory Information Systems Market.

However, the maintenance and service costs etched with laboratory information systems are high. This factor may prove to be a constraint for the laboratory information systems market. Due to the high costs, many small and medium-sized laboratories are excluded from the consumer base. This aspect is an obstacle to the growth of the laboratory information systems market. Nonetheless, the laboratory information systems market players are focused on launching an affordable laboratory information systems market to increase their consumer base.

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Laboratory Information Systems Market: Competitive Perspectives

The laboratory information systems market is consolidated with many players vying for a leading position among other competitors. The players are involved in fierce competition. The players also invest heavily in research and development activities. These activities help the players to develop systems with more functionality and innovation, ultimately contributing to the growth of the laboratory information systems market.

Some well-established players in the laboratory information systems market are Orchard Software Corporation, SCC Soft Computer, American Soft Solutions Corp., Comp Pro Med, Sunquest Information Systems and Allscripts Healthcare Solutions, Inc.

Laboratory Information Systems Market: Recent Developments

The laboratory information systems market is booming. Many players in the laboratory information systems market engage in strategic collaborations such as mergers, acquisitions, joint ventures and partnerships. These collaborations help to increase the influence of players in the laboratory information systems market, ultimately adding to the growth structure. Some notable developments in the Laboratory Information Systems market are as follows:

  • CompuGroup Medical recently acquired Schuyler House, a laboratory information systems company to expand its laboratory systems software portfolio.
  • Rover Labs has launched Rover CloudLIS, a cloud-based laboratory information system developed to simplify the recording, reporting and tracking of COVID-19 tests.

Laboratory Information Systems Market: Regional Dimensions

The North America laboratory information systems market is expected to dominate during the forecast period 2020-2030. Well-developed healthcare infrastructure along with the increasing demand for digitalized technologies will serve as critical growth factors for the Laboratory Information Systems market. In addition, the presence of key players in the region will prove to be an important element of growth.

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