Why will Sales of Laboratory Information Systems Boom in North America in Future?

The burgeoning requirement for advanced healthcare information systems is one of the major factors fueling the sales of laboratory information systems (LIS) across the world. These systems assist in delivering diagnosis, rehabilitation, and treatment services through one integrated platform. Moreover, these systems save the diagnosis time by streamlining various back-office operations and assist doctors in sharing and discussing treatment plans with their patients. For example, the National Health Service (NHS) and several other local healthcare councils have been operating together since 2016 in order to form a transformation and sustainability partnership that covers the entire U.K.

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Furthermore, the Integrated Healthcare Information System program became hugely successful in as many as four designated areas—Yorkshire, South London, Surrey, and Greater Manchester in May 2020. The soaring need for higher laboratory productivity is also propelling the advancement of the laboratory information system market. As a result, the revenue of the market is expected to surge from $1,756.2 million in 2019 to $3,457.2 million by 2030. The market will also exhibit a CAGR of 6.5% from 2020 to 2030 (forecast period).

This is ascribed to the soaring requirement for LIS interface or integration and delivery systems in various healthcare settings for improved efficiency and a quick adoption of advanced technologies in workflow solutions. Among LIS services and software, the requirement for the latter was found to be higher during the last few years. This was because of the high requirement for laboratory information management software in diagnostic laboratories, research centers, academic institutions, and hospitals. 

Hence, it can be safely said that the demand for LIS will surge sharply in the forthcoming years, primarily because of the rising incidence of chronic diseases and the growing requirement for higher laboratory productivity, advanced healthcare information systems, and more accurate diagnostic tests across the world.

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How is Need for Innovative Healthcare Information System Driving Laboratory Information System Market?

The requirement for advanced healthcare information system is increasing rapidly, which is why the need for laboratory information system (LIS) is rising as well. LIS includes a set of hardware and programs that are part of an integrated system designed for healthcare information. The system captures complex data and information which is related to medical and industrial laboratories. LIS aids in compiling the services related to treatment, care & rehabilitation, and diagnosis. The integrated healthcare system saves diagnosis time by streamlining back office operations and also aids in sharing information and discussing the treatment plan among doctors as per the patient’s need. 

The laboratory information system market size is expected to witness significant growth during the forecast period. Industrial, clinical, and drug discovery are the three applications of LIS. Among these, the largest demand for LIS was created for clinical applications in the past and the situation is projected to remain the same in the coming years as well. LIS are utilized in healthcare laboratories for clinical purposes including sequencing and molecular testing. Clinical LIS help automate all the major processes and generate accurate results efficiently. The demand for LIS for clinical applications is rising because of growing number of tests and higher cost because of the emergence of new technologies.

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The growth in molecular diagnostics is contributing significantly to the increasing demand for LIS. Molecular diagnostics is a branch of in vitro diagnostics and is based on determining nucleic acid sequencing primarily for medical applications. Sequence determination is largely performed by making use of methods that are based on hybridization of labeled DNA probes with target nucleic acid sequences. The market for molecular diagnostics is changing rapidly for the better and the novel technologies are projected to yield product line extensions and machined for point-of-care market as test automation expands. This is expected to drive the market in the coming years.

The adoption of mobile-based application sand solutions is a key trend in the laboratory information system market. Mobile devices such as tablets and smartphones play a vital role in providing personalized health solutions. Multi-functional personalized mobile information systems offer a wide range of communication and information services to both clinicians and patients through smartphones. The utilization of mobile devices also decreases the need for patients to visit clinics or hospitals every time they require a diagnosis as their problems can be diagnosed by using mobile devices. Due to these factors, new mobile systems that aid in retrieving laboratory data easily have been designed. 

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How is Need for Innovative Healthcare Information System Driving Laboratory Information System Market?

The requirement for advanced healthcare information system is increasing rapidly, which is why the need for laboratory information system (LIS) is rising as well. LIS includes a set of hardware and programs that are part of an integrated system designed for healthcare information. The system captures complex data and information which is related to medical and industrial laboratories. LIS aids in compiling the services related to treatment, care & rehabilitation, and diagnosis. The integrated healthcare system saves diagnosis time by streamlining back office operations and also aids in sharing information and discussing the treatment plan among doctors as per the patient’s need.

The laboratory information system market is expected to witness significant growth during the forecast period. Industrial, clinical, and drug discovery are the three applications of LIS. Among these, the largest demand for laboratory information system was created for clinical applications in the past and the situation is projected to remain the same in the coming years as well. LIS are utilized in healthcare laboratories for clinical purposes including sequencing and molecular testing. Clinical LIS help automate all the major processes and generate accurate results efficiently. The demand for LIS for clinical applications is rising because of growing number of tests and higher cost because of the emergence of new technologies.

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The growth in molecular diagnostics is contributing significantly to the increasing demand for LIS. Molecular diagnostics is a branch of in vitro diagnostics and is based on determining nucleic acid sequencing primarily for medical applications. Sequence determination is largely performed by making use of methods that are based on hybridization of labeled DNA probes with target nucleic acid sequences. The market for molecular diagnostics is changing rapidly for the better and the novel technologies are projected to yield product line extensions and machined for point-of-care market as test automation expands. This is expected to drive the market in the coming years.

The adoption of mobile-based application sand solutions is a key trend in the laboratory information system market. Mobile devices such as tablets and smartphones play a vital role in providing personalized health solutions. Multi-functional personalized mobile information systems offer a wide range of communication and information services to both clinicians and patients through smartphones. The utilization of mobile devices also decreases the need for patients to visit clinics or hospitals every time they require a diagnosis as their problems can be diagnosed by using mobile devices. Due to these factors, new mobile systems that aid in retrieving laboratory data easily have been designed.

Read more: https://www.psmarketresearch.com/market-analysis/laboratory-information-system

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