European Laboratory Information Systems Market is expected to reach USD 538.3 million by 2024 from USD 308.6 million in 2016, growing at a CAGR of 7.2% during the forecast period 2017 to 2024.
Europe Laboratory Information Systems (LIS) Market, By Product Type (Standalone LIS, Integrated LIS), By Device Type (Clinical LIS, Anatomical LIS), By Components (Services, software), By Delivery Mode (On-Premise, Remotely-Hosted, Cloud-Based) By End-User (Clinical Diagnostic Laboratories, Hospitals, Anatomical Pathology Laboratories, Blood Banks, Molecular Diagnostic Laboratories), By Country (Germany, France, U.K., Spain, Italy, Russia, Netherlands, Turkey, Belgium, Switzerland, Rest of Europe) – Industry Trends and Forecast to 2024
The European laboratory information systems market is expected to reach USD 538.3 million by 2024 from USD 308.6 million in 2016, growing at a CAGR of 7.2% during the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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The deployment of integrated healthcare systems helps facilitate a smooth exchange of patient data across different healthcare organizations. The emergence of new and complex tests, along with the necessity to make test results readily available for clinicians, presents significant challenges for laboratory managers/technicians.
A completely integrated LIS addresses various patient safety issues, enhances the quality of care, provides patient information at a single point of access, and eliminates the gaps in communication between care providers. The benefits associated with integrated solutions are better workflow, elimination of costs of maintaining interfaces between two software, easy retrieval of clinical data, and quick feedback for clinicians.
These benefits make it easier for hospitals to replace their traditional LIS systems with an integrated LIS.
Some of the major companies operating in this market are:
- Sunquest Information Systems
- Cerner Corporation
- SSC Soft Computer
- Compu Group Medical AG
- McKesson Corporation
- Epic Systems Corporation
- Medical Information Technology
- Orchard Software Corporation
- Quest Diagnostics Incorporated
- Computer Programs and Systems (CPSI)
- Merge Healthcare
- Comp Pro Med
- Psyche Systems
- Technidata America
- Siemens Medical Solutions, among others.
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Germany holds the major share of the European laboratory information systems market. This is attributed to factors such as growth in laboratory automation, technological advancements, and government incentives.
In addition to this, the increasing incidence/prevalence of life-threatening diseases such as cancer, cardiovascular diseases, HIV-AIDS, increasing population, and reimbursement programs result in larger amounts of data that have to be managed, thereby encouraging the growth of the LIS market globally.
Based on geography the market is segmented into:
- Rest of Europe.
Germany is expected to dominate the market, while U.K. and France are expected to be the growing with highest CAGR in the forecast period.
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