Market Forecast for Laboratory Information Systems

Laboratory Information Systems (LIS) are also known as Laboratory Information Management System (LIMS). Laboratory Information Systems are a software-based laboratory that is utilized for information management. Laboratory Information Systems has features that are similar to a modern laboratory. Some of the key features of Laboratory Information Systems are data tracking, data mining, data analysis and data exchange interfaces. Laboratory Information Systems are an Enterprise Resource Planning (ERP) tool that manages multiple tasks in laboratory informatics.

Drivers and Restraints
The demand for global laboratory information systems is largely driven by the increasing number of end-user laboratories in developed as well as developing countries. Also, there is a surge in the number of training institutes for Healthcare Intranet Technologies with the rapidly spreading awareness of the offerings and advantages of these information systems.

Market Growth
The global market growth expected to be boosted by the need for advanced monitoring systems that aid in accurate clinical decisions. However, the global market growth is likely to witness lower adoption rates due to high costs for the maintenance of systems and inadequate IT infrastructure.

Application Segmentation
This market is classified by application, delivery mode, component, and geography. Based on application, the global market is segmented into the following:

•Clinical Research
Based on delivery mode, the global market is segmented into the following:
•Cloud Based
Based on component, the global market is segmented into the following:

Market Overview
The global market is forecast to reach a billion by the end of 2020, growing at a remarkable CAGR during the forecast period. Laboratory Information Systems are used for research and analysis in healthcare. The requirements are evolving rapidly as per the dynamic requirements of modern laboratories. A laboratory information system in short is a system analyst, a laboratory manager as well as an accountant depending on the demands of the user.

Region-wise Outlook
Depending on geographic regions, the global market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia-Pacific, Japan, and the Middle East & Africa. The North America market is projected to hold a major share in the global market and is moving towards the increasing need for automation in the healthcare system coupled with advancing government incentives and investments by IT companies providing healthcare services.

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