Report Description
Laboratory Information Management Systems – Process Automation to Improve Efficiency
Laboratory information management systems is a powerful IT tool for inventory management , clinical research , project management , and patient data management . Integration of various related processes in an organization , especially in the healthcare sector can result in improved patient care and increased efficiency of services . It also reduces operational costs and increases organizational agility . Laboratory Information Management Systems are helping hospitals , diagnostic laboratories , blood banks , private clinics , and other such healthcare institutions to increase their productivity and improve turnaround time of clinical trials . Increased focus on improving patient care , therapy outcomes at reduced cost are the primary factors driving the market for laboratory information management systems ( LIMS ) globally . The global laboratory information systems market was valued at US $ 1,209.6 million in 2015 and is expected to expand at a CAGR of 7.3 % during the forecast period ( 2016 – 2024 ).
Figure 1 . Global Laboratory Information Management Systems Market Size and Forecast , US $ Million and Y-o-Y Growth (%), 2014-2024
Source : Coherent Market Insights Analysis ( 2016 ) Renewed focus on improving laboratory practices in order to enhance efficiency
Clinical laboratories constantly strive towards improving their laboratory practices to reduce cost and improve efficiency . Adoption of LIMS in hospital laboratories is expected to increase at a CAGR of 7.6 % during the forecast period . Deploying LIMS in clinical laboratories can help in trimming processes , and continuous improvement in patient and business outcomes .
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