The size of the Asia Pacific Laboratory Information System Market was estimated at USD 0.25 Billion in 2022. It is further poised to grow and worth USD 0.40 Billion by the end of 2027, growing at a tremendous CAGR of 9.7% from 2022 to 2027.
The APAC Laboratory information system market is expected to be growing at a significant pace during the forecast period due to the proliferation of infectious diseases, higher spending on healthcare, and advances in the IT healthcare industry. The market is further supported by factors such as the need to improve medical laboratories' efficiency, the growing demand for error-free diagnoses, and the increasing integration across information systems laboratories.
On the other hand, the growth of the laboratory information system market is also estimated to be fuelled by an increase in the acceptance rate of these systems due to its advantageous characteristics, such as integrating electronic records with the laboratory information system, accurate disease subtyping, and improved clinical workflow efficiency.
In addition, Increased demand for novel and advanced technologies has increased research and development efforts in genomics and personalized medicine, which is propelling the laboratory information system market ahead. The advent of unique and innovative laboratory information systems that offer increased customer services and support is expected to create attractive growth possibilities for key industry players during the forecast period.
Furthermore, the growing demand for personalized drugs is expected to propel the laboratory information system market to new heights of growth. The market is being driven by an increase in the prevalence of life-threatening diseases such as cancer and cardiovascular disorders among people, as well as an increase in the geriatric population, while advancements in laboratory information system technology are expected to provide effective and faster solutions for diseases such as cancer.
However, there are a few challenges the market must overcome in order to succeed, including high information system costs and a shortage of skilled healthcare IT professionals.
This research report on the Asia Pacific laboratory information system market has been segmented and sub-segmented into the following categories:
By Delivery Mode:
The APAC LIS market is one of the fastest-growing regional markets and is expected to account for a significant share in the global market during the forecast period. The market growth is projected to be fuelled by rising healthcare spending and improvements in the healthcare IT industry. Furthermore, the increased demand for error-free diagnosis supports the rise of medical laboratories, increasing their efficacy. As a result, the major countries in the region, such as China, Japan, and India, are expanding the APAC regional market growth. Moreover, the laboratory information system market expansion in emerging nations such as Singapore, Australia, India, and China.
The Japanese LIS market is expected to have the largest share in the APAC market during the forecast period. Japan is well known for its technological advancements worldwide. It also has an expanding healthcare infrastructure, with an increasing elderly population and the expansion of severe diseases such as cancer and cardiovascular diseases that are significantly driving the market growth.
On the other hand, the Chinese LIS market is most likely to witness a promising share during the forecast period. The market growth is attributed to the increasing such as aging population, a large patient pool, and improved healthcare facilities.
Similarly, the Indian Laboratory information systems market is anticipated to record a promising share. The improving healthcare infrastructure supports the market growth, increasing awareness of electronic health record systems and their expanding importance, and supportive government policies.
KEY MARKET PLAYERS:
A few of the notable companies operating in the APAC laboratory information systems market profiled in this report are McKesson, Cerner Corporation, Epic System Corporation, SCC Software Computers, Medical information technology, Labware, Sunquest Information systems, Compugroup Medical, and Evident.
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