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A laboratory information system is a complex information system designed for data and information management related to industrial and medical-related laboratories including clinical and analytical laboratories. Laboratory information system allows users to obtain, store, manage, retrieve and record laboratory data. Laboratory information system provides information that helps in the diagnosis, prevention, management and treatment of disease, as well as being an indicator for individual and population health. There is no standard laboratory information system designed due to the fact that client laboratories are highly diverse and have different requirements. Therefore, a laboratory information system is developed, customized and configured according to the needs of a laboratory. Globally, improvement in healthcare services is playing a major role in increasing the demand of laboratory information system. As a result, this market is expected to grow at a CAGR of about 7.7% during 2013 – 2019.
 
Some of the key driving factors for the laboratory information systems market are increasing need for integrated healthcare information systems, rising government initiatives and rising investments by healthcare IT players. Also, improvement in healthcare services in different parts of the world is increasing the global laboratory information systems market. However, the market faces some restraints such as lack of experienced professionals, high maintenance and service expenses and interoperability issues. Increasing use of mobile phones and companies focusing on new product launches are some of the major trends witnessed in the laboratory information systems market. 
 
North America has the largest laboratory information systems market. Rising cases of fatal diseases and their diagnostic and treatment needs are some of the major factors driving the demand for laboratory information systems in the region. Also, its public funded structure is acting as a significant driver for the North American market for laboratory information systems.  In addition to increasing disease incidences, government initiatives to promote the use of laboratory information systems have resulted in Europe becoming the fastest growing laboratory information systems market.  At the country level, some of the fastest growing markets for laboratory information systems market include Japan, Germany, U.S. and U.K.. Emerging markets which hold huge potential and increasing demand for powerful IT systems in diagnostic and medical laboratories are some of the major opportunities for the laboratory information systems market.
 
Clinical diagnostics laboratory information system has the largest market share on the basis of its applications and is expected to grow at a CAGR of about 8.9% during 2013 – 2019. On the basis of its mode of delivery, the market can be classified into web based technology, on-premise technology and cloud based technology market for laboratory information systems. 
 
McKesson Corporation is the leading player in the laboratory information systems market. Other major players of laboratory information systems market include Merge Healthcare Incorporated, Cerner Corporation and others.

The increasing need to develop and custom-design laboratory systems to cater to the changing laboratory needs is the prime driver of the global laboratory information system market. With IT players accelerating their investment in the healthcare sector, the future of the laboratory information system seems quite promising. Furthermore, the increasing initiative adopted by governments across various countries to ensure improvement in healthcare services will augur well for the global laboratory information system market. 

The report presents a comprehensive overview of the global laboratory information system market. For the purpose of the study, the global market is segmented based on delivery mode, component, and region. The regional segments of the market are North America, Asia Pacific, Europe, and Rest of the World. In terms of units, North America has been leading the global laboratory information system market, and is expected to continue its dominance in the year to come. 

The report exhaustive information aimed at updating the stakeholders about the prevailing market dynamics. Besides profiling the leading players operating in the market, the report also analyzes the socio-economic factors having impact on the market. The strengths and weaknesses of the companies profiled are studied in detail. The report also focuses on examining the threats and opportunities that these enterprises are likely to face in the forthcoming years. 

Global Laboratory Information System Market: Overview 

Transparency Market Research (TMR) projects the global laboratory information system market to report a CAGR of 7.70% between 2013 and 2019. The market’s valuation stood at US$1.3 bn in 2013, and is expected to reach US$2.15 bn by the end of 2019.

Despite exhibiting strong growth, factors such as the high cost of laboratory information system, lack of trained professions, and high expenditure incurred on the maintenance of these systems are inhibiting the market’s growth to an extent. Nevertheless, with the increasing use of mobile phones, leading enterprises in the market are focusing launching products that could be controlled remotely using a simple application downloaded in the user’s smartphone. Such advances are expected to give momentum to the global laboratory information system market in the forthcoming years. 

Based on application, clinical diagnostics held the largest share in the market in 2013 and is expected to expand at a CAGR of 8.9% from 2013 and 2019. Regionally, North America dominated the market in 2013. The region has been witnessing an increasing incidence of chronic ailments, which requires accurate diagnosis. This is a major factor bolstering growth of the laboratory information system market in North America. The public funded structure is also giving impetus to the regional market. 

However, the increasing incidence of fatal diseases and favorable government initiatives promoting the use of laboratory information system across its healthcare sector, are boosting the market in Europe at the fastest pace. Globally, the U.S., Japan, Germany, and the U.K. have emerged as the most lucrative markets for laboratory information systems. Besides growth witnessed across developed countries, the market also witnesses strong potential across emerging economies. 

Companies Mentioned in Report 

To study the vendor landscape of the market, the report has profiled the major players operating therein. McKesson Corporation has been identified as the leading player in the global laboratory information system market. Besides this, the report also includes profiles of other prominent vendors in the market such as Cerner Corporation and Merge Healthcare Incorporated. 

Global Laboratory Information System Market is segmented as: 

Global Laboratory Information System Market Segmentation by Delivery ModeWeb-based

  • On-premise
  • Cloud-based 

Global Laboratory Information System Market Segmentation by Components

  • Software
  • Hardware
  • Services 

Global Laboratory Information System Market Segmentation by Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World 

This report gives you access to decisive data such as: 

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years 

Key highlights of this report 

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments
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