DUBLIN, Oct. 24, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Laboratory Information System/LIS Market by Type, Delivery Mode, End User Labs & by Component - Global Forecast to 2019" report to their offering.
The global Laboratory Information System market consists of various products that help in efficient management of the laboratory workflow process. This market is driven by several factors which include rising need to integrate healthcare systems, increasing demand for molecular diagnostic tests, an aging population and chronic diseases resulting in greater number of diagnostic tests, as well as increasing government investments to support the implementation of LIS solutions.
The relatively untapped Asian market and increasing popularity of cloud-based LIS have opened an array of opportunities for growth of the market. However, high costs of laboratory information system solutions, high costs of maintenance and services, and dearth of skilled HCIT professionals are some of the major factors that restrain the growth of this market.
The global market is expected to reach $1,806.1 million by 2019 from the estimated $1,175 million in 2014, growing at a CAGR of 9% from 2014 to 2019. The market is segmented on the basis of product, component, delivery mode, end user, and geography.
On the basis of product, the market is segmented into standalone and integrated laboratory information system. As of 2014, the standalone segment accounts for the largest share of the global laboratory information system products market. The high share can be attributed to their flexibility and the fact that they are more focused on laboratory work flow and is simple to work with as compared to integrated systems. However, the integrated LIS segment is expected to witness high growth in the forecast period as these systems offer true integration across the entire organization and minimal or no interfacing is required.
The laboratory information system market by component is bifurcated into software and services. The services market is poised to witness the highest CAGR from 2014 to 2019, owing to the fact that LIS users regularly require services such as consulting, interfacing and on-going IT support, training and education, and maintenance services.
The market, by delivery mode is segmented into on-premise, remotely-hosted, and cloud-based laboratory information system. The cloud-based LIS segment is expected to grow at the highest CAGR from 2014 to 2019.The high growth of these systems is attributed to their flexibility in terms of storage capacity and that they do not require organizations to make any large investments in software licenses and hardware, thus reducing the capital expenditure.
The market, by end user is classified into clinical diagnostic laboratories, anatomic pathology laboratories, blood banks, and molecular diagnostic laboratories. The molecular diagnostic laboratories segment is expected to grow at the highest CAGR from 2014 to 2019, owing to the increasing acceptance of personalized medicine amongst patients, which in turn increases the usage of molecular diagnostic and genetic testing in the coming years. Furthermore, molecular diagnostic laboratories are moving from paper-based systems to laboratory information system to handle the increasing volume of molecular tests; thus driving growth of the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Laboratory Information System Market, By Product
8 Global Laboratory Information System Market, By Delivery Mode
9 Global Laboratory Information System Market, By Component
10 Global LIS Market, By End User
11 Global LIS Market, By Geography
12 Competitive Landscape
13 Company Profiles
- Cerner Corporation
- Compugroup Medical AG
- Computer Programs and Systems, Inc.
- EPIC Systems Corporation
- Mckesson Corporation
- Medical Information Technology, Inc. (Meditech)
- Merge Healthcare, Inc.
- Orchard Software Corporation
- SCC Soft Computer
- Sunquest Information Systems (Subsidiary of Roper Industries)
For more information visit http://www.researchandmarkets.com/research/pm2z8z/laboratory
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SOURCE Research and Markets