Surge in demand for lab automation is driving the global laboratory information systems market

WILMINGTON, DELAWARE, UNITED STATES, October 17, 2023 /EINPresswire.com/ -- Laboratory Information Systems Market in terms of revenue was estimated to be worth US$ 2.2 billion in 2021 and is poised to reach more than US$ 4.9 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031 according to a new report by Transparency Market Research. Factors such as the need for laboratory automation, the development of integrated LIS, and growing investments in the adoption of EHR systems and subsequent integration with LIS primarily drive the growth of this market. Furthermore, the rising emergence of AI and advanced analytics, growing demand for LIS in biobanks and biorepositories.

AI-powered algorithms can automate routine tasks in the laboratory, such as sample handling, data entry, and result validation. AI can analyze images from laboratory tests, such as histopathology slides or radiology scans, to aid in the diagnosis and detection of abnormalities. Machine learning algorithms can learn from large datasets and provide accurate interpretations, assisting pathologists and radiologists in their evaluations. This reduces manual errors, improves turnaround times, and frees up laboratory staff for more complex tasks.

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The global Laboratory Information System (LIS) report covers a wide range of topics related to the Laboratory Information System (LIS) industry. There are sections on the market’s overview, its drivers and challenges, its segmentation, its competitive environment, and its trends. The paper also discusses the leading market players, their market shares, and their expansion plans. The research also includes detailed information about key market players, their financial performance, and their strategic initiatives. Using this knowledge, investors may keep a competitive edge in the market and make adequately informed investment selections.

Lists out all the prominent companies operating in the Laboratory Information System (LIS) market. They are as follows:

• Allscripts Healthcare Solutions, Inc.
• Orchard Software Corporation
• CompuGroup Medical
• Labvantage Solutions, Inc.
• Thermo Fisher Scientific Inc.
• Sunquest Information Systems, Inc.
• STARLIMS Corporation
• Modul-Bio
• Soft Computer Consultants, Inc.

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Some of the key questions answered in this report:

• What will the Laboratory Information Management System market growth rate during the forecast period?
• Which are the key factors driving the Laboratory Information Management System market?
• What was the size of the Laboratory Information Management System market by 2032?
• Which region is expected to hold the highest market share in the Laboratory Information Management System market?
• What trends, challenges and barriers will impact the development and sizing of the Global Laboratory Information Management System market?
• What are the Laboratory Information Management System market opportunities in the global Laboratory Information Management System Industry?

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Market Segmentation

• Component
o Software
o Services

• Delivery Mode
o On-premises
o Cloud-based

• End-user
o Diagnostic Laboratories
o Hospitals & Clinics
o Others (Veterinary Labs, Contract Research Organizations)

Regions Covered
o North America
o Latin America
o Europe
o Latin America
o Middle East & Africa

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