Dublin, 10 August 2020 (GLOBE NEWSWIRE) – The Global Market Report of the Laboratory Information System 2020-30: The growth and change of COVID-19 has been added to the ResearchAndMarkets.com offering. for the lab data system? What is the link between the market and the global economy, demographics and similar market ones? What forces will shape the market in the future? This report answers all those and many other questions. The place where global market cables for laboratory data systems are placed is expected to grow from $1.62 billion in 2019 to $1.58 billion in 2020 at a compound annual expansion rate (CAGR) of -2.42%. The decline is mainly due to the COVID-19 epidemic that has led to restrictive containment measures involving social distance, remote paintings and industry closures and other advertising activities. The entire source chain was interrupted, which had a negative effect on the place of the market and the place of the cord. The palm market is then expected to recover to $2.33 billion in 2023 at an annual compound rate of 13.8%.
The rising demand for lab automation is a major factor driving the growth of the laboratory information system market. A growing number of people are undergoing a series of tests, which in turn, increases the burden on the laboratories. The clinical laboratories are hiring more healthcare personnel to reduce the amount of workload on existing staff and minimize the number of errors associated with it in order to increase the efficiency and efficacy of the lab’s functioning for accurate results. According to the Bureau of Labour Statistics, around 12,000 additional clinical laboratory professionals are required every year to meet the demand; however, only half of the number is entering the field. Thus, laboratories opt for automation to ease the work. For instance, TriCore Reference Laboratories in Albuquerque, Mexico, introduced automation in its 20% of instrumentation, which performs almost 80% of the lab’s samples and displays helping the lab in managing and optimizing its functions for faster and accurate results.A cloud-based laboratory information system is expected to become the leading trend in the laboratory information systems market. Cloud computing is associated with the sharing of computer resources and services including storage and servers over the internet for a reduced cost, increased speed, productivity, and security of the system in the network. The cloud system in laboratory information systems offers various advantages such as cost-efficiency, better results, and progress without space constrain. For instance, APEX laboratory information system by Apex HealthWare, LLC, Arxspan Laboratory Software by Bruker Software Solutions, Orchard laboratory information system by Orchard Software Corporation are cloud-based systems, which improve efficiency, reduces errors, and enhance patient care. Thus, a cloud-based laboratory information system is expected to gain significant traction in the laboratory information system market. High costs associated with implementing and maintenance of laboratory information systems are anticipated to limit the growth of the laboratory information system market. The cost of a laboratory information system ranges from $4,000 and $100,000 and also an additional annual operating cost of $1000 to $5000. The operating costs comprise cost related to the software license, training the healthcare personal, maintenance, and service cost. The laboratories may opt for the lower-cost version owing to the high cost of software even when the requirement is for a higher-cost version to reduce the burden of the laboratories, causing an operational instability. Therefore, the high cost of a laboratory information system is expected to hinder the market.Report ScopeThe report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider laboratory information system market, and compares it with other markets.
Key topics covered 1. Summary 2. Market characteristics of laboratory systems 3. The duration and expansion of the laboratory systems market 3.1. Global Market for Historical Laboratory Information Systems, 2015-2019, at billions of dollars 3.1.1. Market Engines 3.1.2. Market Restrictions 3.2. Global Laboratory Information System ForecastIng Market, 2019-2023F, 2025F, 2030F, in billions of dollars 3.2.1. Market Engines 3.2.2. Market Limitations 4. Market segmentation of laboratory information systems 4.1. Global Market for Laboratory Information Systems, Product Segmentation, History and Forecasts, 2015-2019, 2023F, 2025F, 2030F, Billions of Dollars
4.2. Global Market for Laboratory Information Systems, End-User Segmentation, History and Forecasts, 2015-2019, 2023F, 2025F, 2030F, in Billions of Dollars
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