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NEWARK, Del, Oct. 11, 2022 (GLOBE NEWSWIRE) — The global laboratory information systems market is currently valued at US$1.9 billion and is projected to reach US$4.2 billion by 2030, at a CAGR of 10.2% between 2022 and 2030.

The Laboratory Information System (LIS) is a collection of operating systems, software and hardware used to process, store and manage data in the clinical laboratories. As such, it has emerged as one of the essential tools to support operations in modern laboratories. They involve the management and processing of data related to multiple processes and tests.

Healthcare has seen several technological advances in recent years, and laboratory information systems are no exception. Areas of application include sample tracking and also as enterprise resource planning tools managing multiple facets of informatics. The systems allow end users to collect patient data and also store it in a database for better patient management.

Also, the rapid adoption of explicit research into genomic studies and automation is catalyzing the use of laboratory information systems. With growing biobanks, remarkable investments in novel technologies, readily available laboratory information system products and services, and strict regulatory requirements across all industries, the laboratory information system market is set to grow inexorably in the near future.

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Furthermore, the standardization of clinical trials coupled with the modernization of regulatory pathways in the People’s Republic of China is contributing to the growth of the laboratory information system market. Cloud-based services are being adopted quickly. High speed internet is another factor to be attributed.

The continuing trend implies the introduction of dedicated laboratory information systems with custom, commercial and open source software interfaces with different budget specifications. Future Market Insights has etched these findings with future perspectives in its current market study “Laboratory Information Systems Market”.

Key Insights from the Laboratory Information Systems Market

  • North America holds the largest market share as the US is subject to a rapid takeover of the well-structured healthcare IT sector and laboratory automation and the status quo is expected to remain unchanged during the forecast period.
  • Europe is second, with Germany at the top. Due to the increasing adoption of automation, the Laboratory Information Systems market is expected to register a CAGR of 9.9% during the forecast period.
  • Asia-Pacific is expected to grow fastest in the laboratory information system market, with China bringing forth personalized medicine with possible government support.
  • Cloud-based laboratory information systems dominate the market and will continue to do so in the future.
  • By application, clinics hold the largest market share (over 48%).

“Automation in line with Industry 4.0 is expected to accelerate the laboratory information system (LIS) market over the forecast period,” says a Future Market Insights analyst.

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competitive arena

  • CTI partnered with LabWare Inc. in August 2021 to expand the former’s laboratory services to support research related to cell and gene therapy.
  • Oracle Corporation partnered with Cerner Corporation in December 2021 to jointly announce the latter’s acquisition.
  • Orchard Software Corporation completed the acquisition of Corwen, LLC in May 2021 to expand molecular testing capabilities and make room for integrated and end-to-end LIS solutions.
  • In January 2021, PathWest integrated its SoftBank (new transfusion medicine LIS module) with the NBA (National Blood Authority) BloodNet LIS interface.
  • CompuGroup completed the acquisition of Schuyler House in December 2020 to strengthen its presence across the United States.
  • LabVantage Solutions launched its 100% integrated Scientific Data Management Systems (SDMS) in July 2020 via its LabVantage 8.5 Edition.
  • Abbott developed STARLIMS Life Sciences Solution 11.1 in July 2019 to manage complex test and sample workflows.

What does the report cover?

  • Future Market Insights offers an exclusive perspective and various real-time insights on the Laboratory Information Systems market in its latest study, presenting a historical demand assessment from 2016 to 2021 and forecasts for 2022 to 2030.
  • The research study is based on components (hardware, software, and services), by deployment mode (on-premises and cloud-based), and by end-user (hospitals, clinics, independent labs, etc.).

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Key market segments covered in the Laboratory Information Systems industry research

By components:

By delivery mode:

By End User:

  • hospitals
  • clinics
  • Independent Laboratories
  • Other

By region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa (MEA)

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Table of Contents

1. Summary

1.1. Global Market Outlook

1.2. Analysis and Recommendations

2. Global Laboratory Information Systems Market Overview

2.1. introduction

2.1.1. Global Laboratory Information Systems Market Definition

2.1.2. Global Laboratory Information Systems Market Taxonomy

2.2. market dynamics

2.2.1. driver

2.2.2. limitations

2.2.3. opportunity

2.3. Global Laboratory Information Systems Market Trends

2.4. Analysis of Global Laboratory Information Systems (LIS) Market Demand (Value in Million USD) 2015-2021 and Forecast, 2022-2030

2.5. Forecast of the global market size (value) for laboratory information systems

2.5.1. Year-on-year growth forecasts

2.5.2. Absolute $opportunity

Read more table of contents….

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About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting and market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. As a recipient of the 2022 Clutch Leaders Award due to the high customer rating (4.9/5), we have worked with global companies on their business transformation journey and helped them realize their business ambitions. 80% of the largest Forbes 1000 companies are our customers. We serve global clients in all leading and niche market segments across all major industries.

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