The global laboratory information system market is expected to reach USD 2,122.8 million by 2021 from USD 1,370.2 million in 2016, growing at a CAGR of 9.1% from 2016 to 2021. Rising chronic disease prevalence, utilization of laboratory information system (LIS) for enhancing laboratory workflow efficiency, and increasing government and industry player’s initiatives into the laboratory services are key factors driving the growth of this market.
Laboratory Information System Market Growth Drivers :
1 Rising Prevalence and Incidence of Chronic Diseases
2 Strong Government Support and Initiatives to Promote Healthcare It Implementation
3 Increasing Adoption of Laboratory Information System to Enhance Lab Efficiency
4 Integration of Laboratory Information System and Ehr Systems
5 Growing Need to Curb the Rising Number of Diagnostic Errors
6 Reimbursement Scenario for Laboratories in the U.S.
7 Introduction of New and Advanced Products
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The global LIS market in North America is expected to account for the largest share of the market in 2016. The large share of the North American region can be attributed to the rising chronic disease prevalence and increasing initiatives by industry players and government in field of healthcare IT. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
Key players in the laboratory information system 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.), CompuGroup Medical AG (Germany), Computer Programs and Systems, Inc. (U.S.), Merge Healthcare, Inc. (U.S.), and Orchard Software Corporation (U.S.). These players are increasingly undertaking mergers and acquisitions, and product launches to develop and introduce new technologies and products in the market.
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