Laboratory Information Systems Market to Reach Over US$ 4.9 Bn by 2031, Growing at a CAGR of 8.3%
The global laboratory information systems (LIS) market was valued at US$ 2.2 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 8.3% from 2022 to 2031. By the end of 2031, the market is expected to exceed US$ 4.9 billion, driven by advancements in laboratory technologies and increasing demand for efficient data management solutions in healthcare and research sectors.
Since there are more life-threatening illnesses now than there were a few years back, more samples are being produced for study and analysis. Concerns have been expressed about the purity of samples and their handling. By providing relevant biospecimen to end-users, such as clinics and hospitals, laboratory information systems are crucial in promoting scientific findings.
Unlock Full Market Insights: Get a Sample Report Now! – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1482
The requirement for compliance with regulations, increase in laboratory automation, higher R&D spending, and technical developments in laboratory information systems are expected to drive the global laboratory information systems market. Growing need for cloud-based solutions to manage laboratory data is another important driver for this market. Data storage using cloud-based solutions is dependable, flexible, and safe, which is likely to present lucrative growth opportunities for the leading players in the laboratory information systems market.
Key Findings of Market Report
Emergence of lab automation and upgrades in R&D laboratories, particularly in biotechnology and pharmaceutical labs, are likely to drive adoption of laboratory information systems. When performing repeated activities like moving plates and pipetting, lab automation decreases human error. It shows significant improvement as well. The market for laboratory information systems is also being driven by the high efficacy of laboratory informatics solutions.
Widespread use of these systems in hospitals is estimated to boost the global market. Besides, the need for these systems is also being driven by growing access to cutting-edge medical treatment in hospitals. Lean workforce structure and better management of cost can be credited for the increase in hospital patients' accessibility to sophisticated medical treatment. Additionally, the demand for automated clinical testing to get data more quickly and reduced likelihood of management interruption for software deployment are anticipated to fuel the segment's growth.
With a revenue share of more than 65 % in 2021, the cloud-based segment led the global market depending on delivery mode. Data is accessible from several places, numerous systems, and numerous branches in a cloud-based system. Besides, the segment is also being driven by a reduction in IT staff, economical data management, and simple implementation.
Global Laboratory Information Systems Market: Growth Drivers
Through a number of initiatives, governments encourage the use of IT products and services in the healthcare industry. The necessity to reduce escalating healthcare expenses is also anticipated to fuel expansion of the global laboratory information systems market in the years to come.
The highest revenue share in 2021 belonged to North America, which made up over 35% of the global market. The adoption of various analytical solutions across sectors is being fueled by a well-developed infrastructure and a rise in the use of digitalized technology across North America is likely to drive the region.
Explore Our Report for Comprehensive Insights! https://www.transparencymarketresearch.com/laboratory-information-systems.html
Global Laboratory Information Systems Market: Key Players
Some of the key market players are
- Labvantage Solutions, Inc.
- Thermo Fisher Scientific, Inc.
- Allscripts Healthcare Solutions, Inc.
- STARLIMS Corporation
- Sunquest Information Systems, Inc.
- CompuGroup Medical
Global Laboratory Information Systems Market: Segmentation
Component
- Software
- Services
Delivery Mode
- On-premises
- Cloud-based
End Use
- Diagnostic Laboratories
- Hospitals & Clinics
- Others
Ultra-large Volume Wearable Injectors Market: The global ultra-large volume wearable injectors market is anticipated to exceed US$ 6.6 Bn by the end of 2031. The global market is projected to grow at a CAGR of 9.1% from 2022 to 2031.
Japan Direct-to-Consumer Laboratory Testing Market: The Japan direct-to-consumer laboratory testing market is expected to cross the value of US$ 2.4 Bn by the end of 2031.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Editor Details
-
Company:
- Transparency Market Research
-
Name:
- Bhalchandra Deshmukh
- Email:
-
Telephone:
- +448455651771
- Website:
