Improving Healthcare Infrastructure Propelling Laboratory Information System

Posted by Pramod Arya on March 24th, 2022

According to the estimates of the market research company, P&S Intelligence, the market will demonstrate a CAGR of 6.5% from 2020 to 2030 (forecast period). The market is being propelled by the burgeoning requirement for advanced healthcare information systems, surging need for molecular diagnostics, increasing adoption of cloud computing in LISs, soaring demand for higher lab productivity, and enactment of cost reduction measures in hospitals. 

Depending on type, the market is divided into integrated and standalone categories. Between these, the integrated category is predicted to register faster growth in the market in the coming years. This is ascribed to the growing requirement for LIS integration or LIS interface and delivery equipment in healthcare settings for improved efficiency and adoption of advanced technologies within workflow solutions. The market is also categorized, based on component, into services and software.

Additionally, the ballooning population of geriatric people and existence of market players, such as CompuGroup Medical SE & Co. KGaA, Allscripts Healthcare Solutions Inc., and Abbott Laboratories also fueling the demand for LIS in the region. The players operating in the industry are actively focusing on collaborations and partnerships in order to gain an edge over their rivals. For example, Cerner Corporation entered into a partnership with Logansport Memorial Hospital (LMH), which is a not-for-profit regional medical center in Indiana, in April 2020 for the upgradation of its electronic health record (EHR) system.

Therefore, the market is predicted to exhibit huge expansion in the coming years, primarily because of the expansion of the healthcare sector and mushrooming population of geriatric people all over the world.