The APAC laboratory information systems market is expected to grow at a CAGR of 12.3% in the forecasted period 2017 to 2024.The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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. In order to take effective decisions, clinicians require a patient care summary. This in turn requires an integrated system that provides the entire diagnostic information in one database. 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.
Based on geography the market is segmented into 7 countries, China, India, Japan, South Korea, Singapore, Australia and Rest of APAC. In 2015, Japan is the most developed nation with the most dominant market in APAC, with a share of 43.1% of the APAC LIS market. The key revenue pockets for LIS market in APAC is Australia, Singapore, Taiwan, Japan and China.
Japan holds the major share of the APAC 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.
In-depth profiling of key players has been conducted along with recent developments (new product launches & partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their position in the APAC laboratory information systems (LIS) market. Sunquest Information Systems, Cerner Corporation, SSC Soft Computer, Compu Group Medical AG, McKesson Corporation, Epic Systems Corporation, Medical Information Technology, Orchard Software Corporation, Allscripts, Quest Diagnostics Incorporated, Computer Programs and Systems (CPSI), and Merge Healthcare are some of the key players in the market. Other players in this market include Comp Pro Med, Psyche Systems, Technidata America, and Siemens Medical Solutions, among others.