Laboratory Information System Market, Growth Opportunities, Analysis by 2024
Posted by Yash Chauhan on March 1st, 2019
The global laboratory information system market size is expected to reach USD 3.2 billion by 2024, with a CAGR of 8.5% during the forecast period (2018 – 2024). The major factors leading to the considerable growth in the laboratory information system market due to the growing geriatric population, increasing prevalence of chronic diseases, increasing need for precise and quality laboratory diagnosis. Moreover, with the mounting research and development for personalized medicine, and increasing need for integrated healthcare system are supporting the growth of the laboratory information system market, globally.
Of the two categories, standalone LIS hold the larger share in the market and the integrated LIS market is predicted to grow at the faster CAGR during the forecast period. With the increasing adoption of cloud-based solutions, along with the lower maintenance and service charge the demand for integrated LIS is anticipated to increase significantly in the coming years.
Based on delivery mode, the market is segmented into:
Factors that have been acting as the driving factors for the growth of this industry are:
Of all the different regions, North America account for the largest share of the largest laboratory information system market, globally. The key factor leading to the largest LIS market size in North America are high prevalence of chronic diseases, mandatory regulatory standards in the U.S., and increasing research and development for personalized medicines.
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About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
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