The Laboratory Information System Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report the Laboratory Information System Market is estimated to be $1.24 USD billion and predicted to rise to $ 1.89 USD billion with a CAGR of 8.8%. The market is segmented by Component (Software, Hardware and services), End-Users (clinical laboratories, hospitals, independent laboratories and others), and Delivery mode (cloud based and on-premises). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The factors like rising demand for quality diagnosis with minimum errors, need for improving the efficiency of the laboratories and rising integration of laboratories with information systems are enhancing the growth of the market. The market is also driven by the factors that include rising chronic diseases, increasing per capita expenditure on healthcare and technological advancements in healthcare IT. However, the market has a overcome a few restraints in order to sustain which includes high cost involving the information systems and shortage of skilled healthcare IT professionals.
The on premise market segment currently is the leading segment by delivery mode in the market as of 2016. The largest share is attributed to the data security provided by the system. By end-users, the hospitals laboratories are believed to be the largest sector owing to the affordability of laboratory information systems by the government. In the component segment, services accounts for the largest share because of its ease of providence and high cost associated with its counter components.
North America currently enjoys the major share of the global laboratory information system market attributed to the increasing prevalence of diseases and government initiatives. And is closely followed by Europe. Asia-Pacific is expected to register the fastest growth rate owing to its larger population and largely untapped market.
The market is attracting many industry players in the sector of healthcare IT and laboratory services. The major companies in the laboratory information system market includes Epic System Corporation, McKesson, Cerner Corporation, Medical information technology, Sunquest Information system, SCC Soft Computer, Labware, Evident and Compugroup Medical.
Browse through the full report at â€œhttp://www.marketdataforecast.com/market-reports/global-laboratory-information-system-market-401/â€ and checkout our recent reports in the Healthcare IT category at â€œhttp://www.marketdataforecast.com/research-reports/healthcare/healthcare-it-17/â€. For more insights and up-to-date industry news donâ€™t forget subscribing to our newsletters.