Laboratory Information System Market to 2021 - 9% CAGR led by North America

18 Aug, 2016, 06:00 ET from ReportsnReports

PUNE, India, August 18, 2016 /PRNewswire/ --

The laboratory information system (LIS) market is set to reach $2.12 billion by 2021 from growing at a CAGR of 9.1% during the forecast period and driven by utilization of laboratory information system (LIS) for enhancing laboratory diagnosis while the standalone LIS segment is expected to account for the largest share.

Complete report on global laboratory information system (LIS) market spread across 169 pages, profiling 10 companies and supported with 86 tables and 44 figures is now available at http://www.reportsnreports.com/reports/307091-laboratory-information-system-lis-market-by-type-standalone-integrated-delivery-mode-on-premise-hosted-saas-end-user-labs-clinical-molecular-diagnostic-blood-bank-anatomic-pathology-by-component-software-services-global-forecast-to-2019.html .

The growth of the overall laboratory information system (LIS) market can be contributed to the rising prevalence of chronic diseases, utilization of laboratory information system (LIS) for enhancing laboratory diagnosis, and growing initiatives by government and industry player's to enhance laboratory services.

The standalone LIS segment is expected to account for the largest share of the laboratory information system market, by product, in 2016. Standalone LIS have data models tailored specifically to manage laboratory data and operations, useful to enhance the laboratory workflow. The on premise segment is expected to account for the largest share of the laboratory information system market, by delivery mode, in 2016. The large share of this segment is mainly due to data security feature by this system.

The LIS services segment is estimated to account for the largest share of the LIS market, by component, in 2016. Ease of services by LIS providers along with high cost of LIS software attributes to large share of this segment. Hospital laboratories are expected to account for the largest share of the global laboratory information system market, by end user, in 2016. Affordability of LIS systems for hospitals is major factor contributing to the largest share of this market.

North America is expected to account for the largest share of the global laboratory information system (LIS) market in 2016, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The large share of the North American region can be attributed to the increasing incidence of chronic diseases, presence of top market players, and growing government initiatives in the region. The Asia-Pacific region is expected to witness the highest growth rate in the forecast period, mainly due to the growing chronic diseases prevalence, entry of top players and less stringent regulations in field of diagnostics.

Prominent players in the global laboratory information system (LIS) market are Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Corporation Inc. (U.S.), Medical Information Technology, Inc. (U.S.), SCC Soft Computer (U.S.), Sunquest Information Systems, Inc. (U.S.), Compu Group Medical AG (Germany), Computer Programs and Systems, Inc. (U.S.), Merge Healthcare, Inc. (U.S.), and Orchard Software Corporation (U.S.). Order a copy of Laboratory Information System /LIS Market by Product (Standalone, Integrated), Component (Services, Software), End User (Hospital Labs, Independent Labs), Delivery Mode (On-premise, Web-based, Cloud-based) - Analysis & Forecasts to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=307091 .

The laboratory information system (LIS) market witness's high competitive intensity, as there are several big and small firms with similar product offerings. These companies adopt various strategies (deployments, partnerships, expansions, new product launches, and acquisition) to increase their market shares and establish a stronger foothold in the global market.

On a related note, another research on Lab Informatics Market Forecasts to 2021 says, the market is expected to reach USD 2.97 billion by 2021 from an estimated value of USD 2.20 billion in 2016, growing at a CAGR of 6.2% during the forecast period. Cloud-based laboratory informatics solutions and emerging countries offer huge growth potential for the laboratory informatics market. This market is categorized on the basis of product type, deployment model, component, industry, and region. Companies like Thermo Fisher Scientific, Inc., LabWare, Inc., Core Informatics, LLC, Abbott Informatics, LabVantage Solutions, Inc., LabLynx, Inc., PerkinElmer, Inc., Waters Corporation, Agilent Technologies, Inc. and ID Business Solutions Ltd. have been profiled in this 225 pages research report available at http://www.reportsnreports.com/reports/652478-lab-informatics-market-by-product-cds-edc-les-ecm-eln-lims-sdms-component-software-services-delivery-on-premise-hosted-cloud-industry-cros-pharma-biotechnology-chemical-petrochemical-fb-agriculture-oil-gas-forecasts-to-2021.html .

Explore more reports related to healthcare market at http://www.reportsnreports.com/market-research/healthcare/ .

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