The global laboratory information system market is predicted to grow to USD 3.2 billion by 2024, growing at a CAGR of 8.5% during the forecast period.
The Laboratory Information System (LIS) is a software solution that manages information generated by laboratories to be obtained, handled, and stored. It helps to simplify laboratory procedures to decrease the handling time of specimens, increase turnaround time, and increase productivity.
Laboratory Information System Market
The global laboratory information system market is predicted to grow to USD 3.2 billion by
2024, growing at a CAGR of 8.5% during the forecast period.
The Laboratory Information System (LIS) is a software solution that manages information
generated by laboratories to be obtained, handled and stored. It helps to simplify laboratory
procedures to decrease the handling time of specimens, increase turnaround time, and
increase productivity.
By product, the laboratory information system market is categorized into standalone and
integrated, of which standalone system holds the larger share in the market, globally due to
technological innovation and upsurge in cloud-based laboratory information system.
By component, the laboratory information system market is categorized into software and
services, of which software hold the largest share in the laboratory information system
market.
By delivery mode, on-premise category accounted the largest share in the laboratory
information system market due to customization characteristic of this delivery mode, and
data securities.
By end user, the laboratory information system market size for the independent laboratory is
expected to grow at the fastest CAGR of 9.4% during the forecast period, globally.
The growing prevalence of chronic diseases, the growth of the geriatric community, the
increasing demand for laboratory diagnostic efficiency and precision, the reimbursement
scenario for laboratories in the U.S., the creation of customised medicine programmes, the
expansion of new and emerging goods, the expansion of LIS knowledge, the increase of
integrated healthcare system requirements, and government schemes.
Key factors hindering the growth of the MRI guided neuro ablation devices market are
limited awareness among patient about the treatment of brain tumour in developing
countries, high cost, and a limited workforce. In addition, the dearth of skilled professionals
is also having a negative impact on the g