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Global Market Trajectory & Analytics



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  •  DATE

    JULY 2020



  •  PAGES




  •  PRICE

    USD $5450


Impact of Pandemic & Economic Slowdown

Monitor Market Dynamics!
Early March 2020, we reached out to senior enterprise executives who are driving strategy, business development, marketing, sales, product management, technology and operations at competitive firms worldwide. Our ongoing survey is focused on how this will this affect their business ecosystems. We invite you to participate in our survey and add to collective perspectives. Market movements are tracked for 2020, 2021 and broadly for the period of 2022 through 2025. Critical changes are monitored dynamically for the rest of this year. Updated analytics will reflect new and evolving market realities. Our first update scheduled for May 2020 and another in the Fall. Clients receive complimentary updates during 2020. If your company is a recent client for this project, we may have already reached out to your colleagues to participate in our program. If you're an active player in the space but hasn't yet subscribed to our project, we invite you to participate and share your perspectives. Please sign-up here.

The global market for Laboratory Information System (LIS) is forecast to reach US$2. 4 billion by 2025, driven by mounting work overload in clinical laboratories against a backdrop of a heavily burdened healthcare system. Factors influencing the growth of clinical laboratory workload include rise in the number of patients; increase in number of testing per patient; and increased frequency & rapid spread of epidemics. The age of epidemics is here with infectious diseases, especially zoonotic diseases expected to emerge and re-emerge as globalization and growing population encroach into wild animal environments & habitats. Laboratory diagnosis is an essential element of communicable disease surveillance & epidemic management. LIS, in this regard, helps in making labs more efficient & productive by automating sample handling; reducing time spent on processes; auto-authorization of reports; elimination of human error; reduced costs; and easy scalability of operations. Functionality of LIS today is much beyond the original sample management purpose. An LIS today does assay data management, data analysis, data mining and also ELN (Electronic Laboratory Notebook) integration. Different vendors offer different LISs depending on industry needs. There are different systems for clinical labs, R&D labs and labs in the food & beverage industry. There are also different deployment types for LIS- remote, cloud and on-premise. On-premise LIS is purchased, installed and operated on servers owned by labs themselves. They are located on actual site in the laboratory. There are however, disadvantages associated with on-premise software solutions. Deploying and managing one is expensive and time-consuming. The solutions also place strain on seamless sharing of data (scalability potential). A cloud solution or a cloud SaaS model enables users to subscribe to one without having to own a system permanently for LIS. Cloud SaaS LIS requires only secure connection for making the license work. Complete support for lab information management is provided by the SaaS vendor. In a remotely hosted LIS, the software is deployed and hosted at a data center. Users are relieved of IT infrastructure management tasks.

An LIS in order to be effective must be capable of tracking and managing samples, reports and queries and create sufficient visibility among different laboratory equipment as well as inventory. These are the basic functionalities of an LIS and any other capability would be bonus. These can include ERP, advanced data analysis capability and any other functionality that is industry-specific. The basic functions/ features of an LIS however are sample management, workflow management, inventory management and reporting. With LIS, risks of contamination, mislabeling, and misplacement are reduced. An LIS automates and streamlines laboratory workflows. It assigns tests and tasks to researchers and defines and standardizes workflow processes. Essential points of testing, at all stages of workflow, are created by an LIS. Inventory management is another key functionality of LIS. Lab personnel are required to track samples accurately. Not just samples, but also instruments used in the labs must be accurately tracked. Use of manual resources for managing inventory can prove to be expensive. LIS fully automates the process and is comparatively cheaper. Another important benefit with LIS is its ability of reporting. The system can automate, maintain and dispose test reports in a timely manner.
» Product (Standalone, and Integrated) » Delivery (On-Premise, Web-based, and Cloud-based) » Component (Services and Software) » End-Use (Hospital Laboratories, Independent Laboratories, and Other End-Uses)
» World » USA » Canada » Japan » China » Europe » France » Germany » Italy » UK » Rest of Europe » Asia-Pacific » Rest of World


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