How Will Higher Lab Productivity Aid Laboratory Information System Market Growth? Growth drivers like surging requirement for innovative healthcare information systems, burgeoning demand for molecular diagnostics, accelerating need for higher lab productivity, and rising adoption of cloud computing in laboratory information systems (LISs) will fuel the laboratory information system market at a CAGR of 6.5% during the forecast period (2020–2030). The market stood at $1,756.2 million in 2019 and it is projected to reach $3,457.2 million by 2030. Moreover, the growing focus of healthcare facilities on reducing operational cost will also amplify the demand for LISs in the coming years. One of the key drivers of the laboratory information system market is the rising need for advanced healthcare information systems in hospitals and clinics. LIS assists in delivering rehabilitation, treatment, and diagnosis services through one integrated platform. Utilization of LIS saves the diagnosis time by helping doctors to share and discuss treatment plans with patients and streamlining back-office operations. For example, the National Health Service (NHS) works to establish a sustainable and transformed partnership that covers plans of improving healthcare for patients. Another factor facilitating the laboratory information system market growth is the escalating demand for higher lab productivity. LIS solutions are used for the management of medical data, quick diagnosis, and decision making with respect to treatment. These enable users to gain, store, record, manage, and retrieve laboratory data efficiently and accurately. Moreover, the accuracy provided by LIS solutions enables in enhancing the treatment procedures for several chronic and life-threatening disorders. Thus, the growing need for automated laboratory systems will fuel the adoption of LISs in the foreseeable future. Moreover, the availability of mobile-based personalized health solutions has become a prime trend in the market in recent years. Tablets and smartphones provide a wide range of information and communication services to clinicians and patients, which help in reducing the frequency of hospital visits for diagnostic purposes. For instance, the Ministry of Ayurveda, Yoga, Unani, Siddha & Homeopathy (AYUSH), India, in June 2019, developed the AYUSH GRID to accumulate all its information technology (IT) plans under one umbrella, with the aims to get all the integrated IT initiatives. Categories under the type segment of the laboratory information system market include standalone and integrated, of which the integrated category will register faster growth during the forecast period. This can be ascribed to the advent of integrated information-based systems that offer necessary framework for automated processes, with better connectivity. Thus, the requirement for easier workflows with increased accuracy has resulted in the rapid influx of integrated workflow solutions and automated systems within the different types of laboratories. Geographically, North America held the largest share in the laboratory information system market in 2019, due to the existence of a large installation base for LIS solutions and high demand for online data storage with assistance from advanced information systems in laboratories. Moreover, the surging cases of chronic illnesses and other diseases have also led to the spike in number of patients that require regular checkups. Furthermore, the Asia-Pacific (APAC) market will showcase the fastest growth, on account of burgeoning number of diagnostic imaging centers and accelerating incidence of chronic disorders. Thus, the constant technological advancements in healthcare system and the high demand for enhanced lab productivity will fuel the market growth during the forecast period. Read More: https://www.psmarketresearch.com/market-analysis/laboratory-information-system