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Laboratory Information System Market: COVID-19 Impact and Global Analysis Forecast to 2028

Published Date: May 2021

No. of Pages: 203

Status: Upcoming

Report Code: EMR100007

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 witness in most of the developing economives around the world as well as raise in the number of healthcare IT companies are some of the major factors fueling the on the whole growth of the global laboratory information system market. Uptrend in per capita expenditure particularly in healthcare in both developed and developing countries is projected to lead a surge in the overall quality of the treatment of a patient and his or her care options, thus propelling the growth of the market. However, various factors such as lack of skilled healthcare IT professionals coupled with large 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. Moreover, China is further projected to account for the highest share in the global market and is anticipated to maintain its lead in the overall demand during the forecast period. This can be attributed to rapid industrialization and increasing urbanization during the past few years. The markets in various other developing economies such as Poland, Argentina, Brazil, Russia, Indonesia, New Zealand, Korea and India among others are also predictable to witness a rapid growth throughout the forecast period. In addition to this, rising per capita disposable income and surge in the global economy is another key factor which is expected to bring impetus in the growth of the global market during the

Key players operating in the global market are focused on some of the major market strategies such as partnerships, mergers, collaborations and acquisitions in order to keep hold in the ever competitive global market. Furthermore, they are focus on gaining hold on the local players to strengthen their goodwill as well as to enhance their market reach in the global market. The global laboratory information system market consist of various key players concentrating on strategies 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
On the basis of end user
• Hospitals
• Clinics
• Independent laboratories

Based on component type
• Hardware
• Services
• Software
Based on delivery mode
• Premises
• Cloud based
Based on region
• North America
• Latin America
• Europe
• Middle East & Africa
• Asia-Pacific

The Leading Key Players in Laboratory Information System Market

Cerner Corp
Medical Information Technology
CompuGroup Medical
Sunquest Information Systems Inc.
SCC Soft Computer
Epic Systems Corporation