A laboratory information system refers to an information management system which is basically based on software along with additional properties and features which support the operations of a modern laboratory. Laboratory information system furnishes various salient features such as workflow, flexible architecture and data tracking support as well as data exchange interfaces. Laboratory information system also helps in providing dynamic architecture as the requirements of the laboratory are increasingly evolving and various laboratories often possess several needs. Laboratory information system is basically a healthcare technology tool most oftenly used in recording, capturing and managing patent captured data as well as gathered during medical processes and tests.
Surge in economic growth which has been witnessed in most of the developing economives around the world as well as increase in the number of healthcare IT companies are some of the major factors fueling the overall growth of the global laboratory information system market. Uptrend in per capita spending particularly in healthcare in both developed and developing nations is projected to lead a flow in the overall quality of the treatment of a patient and his or her care decisions, thus driving the growth of the global market. However, various factors such as lack of skilled healthcare IT professionals coupled with high initial costs of laboratory information systems are anticipated to hinder the growth of the overall global laboratory information system market during the forecast period.
The global laboratory information system market can be segmented on the basis of component type, end user, delivery mode and geography. On the basis of end user, the global laboratory information system market can be divided into hospitals, clinics, others and independent laboratories. Based on component type, the global laboratory information system market can be categorized into hardware, services and software. By the means of delivery mode, the global laboratory information system market can be segmented into on premises and cloud based. Considering geography as a segment, the global laboratory information system market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific. The robust demand especially in the Asia Pacific region is anticipated to be one of the key driving factors for the overall growth of the global market. Besides, China is further predictable to account for the maximum share in the global market and is projected to maintain its lead in the complete demand during the forecast period. This can be recognized as rapid industrialization and growing urbanization during the past few years. The markets in various developing economies such as Russia, Argentina, Brazil, Indonesia, New Zealand, Poland, Korea and India among others are also likely to witness a speedy growth throughout the forecast period. In addition to this, growing per capita disposable revenue and rush in the global economy is another key factor which is expected to bring stimulus in the development of the global market during the forecast period.
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Key players operating in the global market are concentrating on some of the major market strategies such as mergers, collaborations, partnerships and acquisitions in order to keep grip in the constantly competitive global market. Besides, they are aiming on gaining grip on the local players to toughen their goodwill as well as to enrich their market reach in the global market. The global laboratory information system market consist of various key players concentrating on policies like acquisitions with cloud and other established software companies to achieve ease in data management and product development. Major players in the global laboratory information system market include Cerner Corp, LabWare, McKesson, Medical Information Technology, CompuGroup Medical, Evident, Sunquest Information Systems Inc., SCC Soft Computer and Epic Systems Corporation among others.
The global laboratory information system market can be segmented
By Component Type:
• Independent laboratories
By Delivery Mode:
• On premises
• Cloud based
• North America
• Latin America
• Middle East & Africa
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