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Laboratory Information System Market - Snapshot

The global laboratory information system market is expected to witness considerable growth over the tenure of assessment due to its widening scope of application. A laboratory information system refers to a software system that stores, manages, and records data for clinical laboratories. A laboratory information system has traditionally been most proficient in sending laboratory test orders to lab instruments, then keeping a track of those orders, and then recording those results, especially to a database that is searchable.

By making use of a laboratory information system, a lab is capable of managing associated information and samples, integrating instruments, and automating workflows. In addition, one can generate credible output more quickly and is able to keep a track on the data from sequencing runs over time. It can also track data from various experiments in a bid to better efficiency.

Better Productivity and Pace of Workflow to Bolster its Demand in the Market

Most of these systems are capable of managing patient demographics, specimen processing, patient check in, result in entry, and the order entry. Such wide scope of application is expected to work in favor of the global laboratory information system market in near future. This system primarily assists the technicians to make an input of the results into database that is within the reach of authorized users when a patient undergoes diagnostic tests at clinics, hospitals, and other medical facilities.

Components of laboratory information system may include:

  • Applications to interface with analytical instruments or data systems
  • Electronic lab notebooks
  • Records management software
  • Workflow tools
  • Sample management programs
  • Best practice and compliance databases
  • Process execution software
  • Client tracking applications

Laboratory information systems come with many benefits, some of which are:

  • More work, less paper
  • Improved turn-around times
  • Enhanced Patient Safety
  • Volume and capacity increase

All these benefits are expected to amplify expansion of the global laboratory information system market in years to come.

Laboratory Information System Market: Overview

Laboratory information system (LIS) has come to occupy as a vital part of integrated healthcare information systems, world over. The deployment has enabled end users in streamlining and managing diverse laboratory data according to their needs. The rising use of these data, especially in emerging economies, by various health systems for facilitating and promoting research and development activities related to the diagnosis, prevention, management of diverse range of diseases is underpinning the accelerated expansion of the global laboratory information system market.

In developed nations, the data gathered by these systems has helped in developing specific and general indicators for identifying burdens on and progress in national public health systems. The rising initiatives by governments in these regions and growing number of collaborations by public and private health systems are factors catalyzing the rapid expansion of the laboratory information system market. Improvements in healthcare services in developing and less developed economies and rapid strides being made by healthcare IT are factors accentuating the market. The high maintenance of the system and their interoperability with the existing health system pose substantial challenges to market players. These in the coming years are likely to be overcome by technology advancements and ease of configuration functionalities in the products that will be developed.

The global laboratory information system stood at US$1,381.4 billion in 2013 and is projected to reach a worth of US$2,158.0 billion by the end of 2019. During the forecast period of 2013–2019, the global market for laboratory information system market is anticipated to garner a CAGR of 7.70%.

Based on application mode, the global laboratory information system is bifurcated into clinical diagnostics and drug delivery. Of the two, clinical diagnostics LIS has the major share and is projected to expand at promising CAGR of 8.9% during the forecast period. Based on the mode of delivery, the technologies used in the laboratory information system market are segmented into web-based, on-premise, and cloud-based.

Based on component, the laboratory information system market is segmented into hardware, software and services.

The key regional segments in the laboratory information system market are North America, Europe, Asia Pacific, and a region called Rest of the World. Of these, North America leads the pack currently. The growth is attributed to the rising demand for the health data from these systems for research and development (R&D) for cutting-edge diagnostics and therapeutics for treating fatal diseases. Moreover, the sizeable R&D spending by public institutions across the region is catalyzing the deployment and application of laboratory information system.

Meanwhile, it is Europe that is expected to rise at the most attractive CAGR during 2013–2019. This is attributed to the large government thrust to the deployment of these systems in the healthcare systems in its various key economies. Moreover, the rising incidence of a range of chronic diseases will bolster the uptake of laboratory information system in Europe.

The demand for LIS is expected to be prominent in countries such as Japan, U.S, Germany, and U.K. In particular, developing economies are emerging as repository of opportunities for market players to capitalize into. This is increasingly fueled by the industry initiatives for adopting robust health IT systems in diagnostic and medical laboratories across the regions. A growing number of players across the globe are turning their attention toward these as rapidly emerging markets for laboratory information systems. The advent of customizable LIS may keep these emerging markets lucrative. The growing number of product launches in developing and developed regions are opening several lucrative avenues for market players.

Some of the prominent players operating in the laboratory information systems market are Merge Healthcare Inc., McKesson Corporation, and Cerner Corporation.

 
Chapter 1 Preface 9
1.1 Report Description 9
1.2 Research Methodology 10
      1.2.1 Sources 10
               1.2.1.1 Secondary Research 10
               1.2.1.2 Primary Research 10
               1.2.1.3 Assumptions 11
 
Chapter 2 Executive Summary 12
 
Chapter 3 Laboratory Information Systems– Industry Analysis 14
3.1 Market Introduction 14
3.2 Drivers 16
      3.2.1 Increasing demand for improved laboratory efficiency 16
      3.2.2 Hospitals prioritizing for laboratory information systems 16
      3.2.3 Rising government Initiatives 17
      3.2.4 Rising need for integrated healthcare information systems 17
      3.2.5 Rising investments from healthcare IT players 18
3.3 Restraints 18
      3.3.1 Lack of experienced professionals 18
      3.3.2 High maintenance and service expenses 19 
      3.3.3 Interoperability issues 19
3.4 Opportunities 20
      3.4.1 Emerging markets hold huge potentials 20
      3.4.2 Demand for powerful IT systems in diagnostic and medical laboratories 20
 
Chapter 4 Market Trends 21
4.1 Use of mobile devices 21
4.2 Companies focusing on new product launches 21
 
Chapter 5 Porter’s Five Force Analysis 23
5.1 Porter’s five force analysis 23
      5.1.1 Bargaining power of suppliers 23
      5.1.2 Bargaining power of buyers 24
      5.1.3 Threat from new entrants 24
      5.1.4 Threat from substitutes 24
      5.1.5 Intensity of rivalry 24
 
Chapter 6 Market Segmentation by Application Mode 25
6.1 Drug delivery laboratory information systems 26
6.2 Clinical diagnostics laboratory information systems 28
 
Chapter 7 Market Segmentation by Delivery Mode 30
7.1 Web-based 32
7.2 On-premise 33
7.3 Cloud-based 35
 
Chapter 8 Market Segmentation by Components 37
8.1 Software 38
8.2 Hardware 40
8.3 Services 41
 
Chapter 9 Market Segmentation by Region 43
9.1 Global 43
9.2 North America 45
9.3 Europe 47
9.4 Asia 49
9.5 Rest of the World 52
 
Chapter 10 Competitive Landscape 53
10.1 Competitive benchmarking 53
 
Chapter 11 Company Profiles 54
11.1 McKesson Corporation 54
      11.1.1 Company Overview 54
      11.1.2 Products & Segments 54
      11.1.3 Financial Performance 55
      11.1.4 Strategic Developments 55
11.2 Merge Healthcare Incorporated 56
      11.2.1 Company Overview 56
      11.2.2 Products & Segments 56
      11.2.3 Financial Performance 57
      11.2.4 Strategic Developments 57
11.3 Cerner Corporation 58
      11.3.1 Company Overview 58
      11.3.2 Products & Segments 58
      11.3.3 Financial Performance 59
      11.3.4 Strategic Developments 60
11.4 Thermo Fisher Scientific Inc. 61
      11.4.1 Company Overview 61
      11.4.2 Products & Segments 61
      11.4.3 Financial Performance 62
      11.4.4 Strategic Developments 62
11.5 Labware Inc. 63
      11.5.1 Company Overview 63
      11.5.2 Products & Segments 63
      11.5.3 Financial Performance 64
      11.5.4 Strategic Developments 64
11.6 3M Health Information Systems Inc. 64
      11.6.1 Company Overview 64
      11.6.2 Products & Segments 65
      11.6.3 Financial Performance 66
11.7 STARLIMS Corporation 66
      11.7.1 Company Overview 67
      11.7.2 Products & Segments 67
      11.7.3 Financial Performance 67
      11.7.4 Strategic Developments 67
11.8 Labvantage Solutions Inc. 68
      11.8.1 Company Overview 68
      11.8.2 Products & Segments 68
      11.8.3 Financial Performance 69
      11.8.4 Strategic Developments 69
11.9 AAC Infotray AG 69
      11.9.1 Company Overview 69
      11.9.2 Products & Segments 70
      11.9.3 Financial Performance 70
11.10 Autoscribe Informatics Inc. 70
      11.10.1 Company Overview 70
      11.10.2 Products & Segments 71
      11.10.3 Financial Performance 71
List of Tables
 
TABLE 1 Market Snapshot: Global market of laboratory information systems (2013 & 2019) 12
TABLE 2 Drivers for global laboratory information systems market: Impact analysis 16
TABLE 3 Restraints for global laboratory information systems market: Impact analysis 18
TABLE 4 Global laboratory information systems market, by application 2009-2012 (USD million) 25
TABLE 5 Global laboratory information systems market, by application 2013-2019 (USD million) 26
TABLE 6 Drug delivery laboratory information systems market, by region 2009-2012 (USD million) 27
TABLE 7 Drug delivery laboratory information systems market, by region 2013-2019 (USD million) 27
TABLE 8 Clinical diagnostics laboratory information systems market, by region 2009-2012 (USD million) 28
TABLE 9 Clinical diagnostics laboratory information systems market, by region 2013-2019 (USD million) 29
TABLE 10 Global laboratory information systems market, by delivery 2009-2012 (USD million) 30
TABLE 11 Global laboratory information systems market, by delivery 2013-2019 (USD million) 31
TABLE 12 Web-based laboratory information systems market, by region 2009-2012 (USD million) 32
TABLE 13 Web-based laboratory information systems market, by region 2013-2019 (USD million) 32
TABLE 14 On-premise based laboratory information systems market, by region 2009-2012 (USD million) 33
TABLE 15 On-premise based laboratory information systems market, by region 2013-2019 (USD million) 34
TABLE 16 Cloud based laboratory information systems market, by region 2009-2012 (USD million) 35
TABLE 17 Cloud based laboratory information systems market, by region 2013-2019 (USD million) 36
TABLE 18 Global laboratory information systems market, by components, 2009-2012 (USD million) 37
TABLE 19 Global laboratory information systems market, by components 2013-2019 (USD million) 38
TABLE 20 Software for laboratory information systems market, by region 2009-2012 (USD million) 39
TABLE 21 Software for laboratory information systems market, by region 2013-2019 (USD million) 39
TABLE 22 Hardware for laboratory information systems market, by region 2009-2012 (USD million) 40
TABLE 23 Hardware for laboratory information systems market, by region 2013-2019 (USD million) 41
TABLE 24 Services for laboratory information systems market, by region 2009-2012 (USD million) 41
TABLE 25 Services offered in the laboratory information systems market, by region 2013-2019 (USD million) 42
TABLE 26 Global laboratory information systems market, by region 2009-2012 (USD million) 44
TABLE 27 Global laboratory information systems market, by region 2013-2019 (USD million) 44
TABLE 28 North American laboratory information systems market, by country 2009-2012 (USD million) 46
TABLE 29 North American laboratory information systems market, by country 2013-2019 (USD million) 47
TABLE 30 European laboratory information systems market, by country 2009-2012 (USD million) 48
TABLE 31 European laboratory information systems market, by country 2013-2019 (USD million) 49
TABLE 32 Asian laboratory information systems market, by country 2009-2012 (USD million) 51
TABLE 33 Asian laboratory information systems market, by country 2013-2019 (USD million) 51
TABLE 34 McKesson Corporation Product Categories 54
TABLE 35 Merge Healthcare Product Categories 56
TABLE 36 Cerner Corporation Product Categories 58
TABLE 37 Thermo Fisher Product Categories 61
TABLE 38 Labware Product Categories 64
TABLE 39 3M Health Information Systems Product Categories 65
TABLE 40 STARLIMS Corporation Product Categories 67
TABLE 41 Labvantage Solutions Inc. Product Categories 68
TABLE 42 AAC Infotray AG Product Categories 70
TABLE 43 Autoscribe Informatics Inc. Product Categories 71

List of Figures 

 

FIG. 1 Architecture of laboratory information system 15

FIG. 2 Laboratory information systems market: Porter’s five force analysis 23

FIG. 3 Global laboratory information systems market, by application 2013 (% share) 25

FIG. 4 Global laboratory information systems market, by delivery mode 2013 (% share) 30

FIG. 5 Global laboratory information systems market, by components 2013 (% share) 37

FIG. 6 Global laboratory information systems market, by region 2013 (% share) 43

FIG. 7 North American laboratory information systems market, by country 2013 (% share) 46

FIG. 8 European laboratory information systems market, by country 2013 (% share) 48

FIG. 9 Asian laboratory information systems market, by country 2013 (% share) 50

FIG. 10 Competitive benchmarking of laboratory information system providers 53

FIG. 11 McKesson Corporation revenue and net income 2011–2013 (USD million) 55

FIG. 12 Merge Healthcare net sales and income 2011–2013 (USD million) 57

FIG. 13 Cerner Corporation revenue and net earnings 2010–2012 (USD million) 59

FIG. 14 Thermo Fisher Scientific Inc. revenue and net income 2010–2012 (USD million) 62

FIG. 15 3M net sales and net income 2010–2012 (USD million) 66

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