Laboratory Information System Market is Expected to Reach USD 2.1 Billion Globally in 2019: Transparency Market Research

According to a new market report published by Transparency Market Research "Laboratory Information System Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", the global Laboratory Information System market was valued at USD 1,381.4 billion in 2013 and is expected to grow at a CAGR of 7.7% from 2013 to 2019, to reach an estimated value of USD 2,158.0 billion in 2019.

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Globally, improvement in healthcare services is playing a major role in increasing the demand for laboratory information system. As a result, this market is expected to grow at a CAGR of about 7.7% during 2013 - 2019.

Some of the key driving factors for the laboratory information system market are increasing need for integrated healthcare information systems, rising government initiatives and rising investments by healthcare IT players. However, the market faces some restraints such as lack of experienced professionals, high maintenance and service expenses and interoperability issues. The laboratory information system market is also witnessing the use of mobile phones. Also, companies are focusing on new product launches.

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North America has the largest laboratory information system market and Europe is the fastest growing laboratory information system market. Some of the fastest growing markets for laboratory information system market are Japan, Germany, U.S. and U.K.. Emerging markets, which hold huge potential and increasing demand for powerful IT systems in diagnostic and medical laboratories are some of the major opportunities for the laboratory information systems market.

Clinical diagnostics laboratory information system has the largest market share on the basis of its applications and is expected to grow at a CAGR of about 8.9% during 2013 - 2019. On the basis of its mode of delivery, the market can be classified into web based technology, on-premise technology and cloud based technology market for laboratory information systems.

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McKesson Corporation is the leading player in the laboratory information systems market. Other major players of laboratory information systems market include Merge Healthcare Incorporated, Cerner Corporation and others.

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