The report on the global laboratory information system market provides qualitative and quantitative analysis for the period from 2021-2030. The global laboratory information system market was valued at USD 2.05 billion in 2022 and is expected to reach USD 3.46 billion in 2030, with a CAGR of 5.89% during the forecast period 2023-2030. The study on laboratory information system market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.
A Laboratory Information System (LIS) is a specialized healthcare information system designed to manage and store clinical data related to medical processes and tests conducted in clinical laboratories. Typically, LIS software facilitates the ordering of laboratory tests, tracks these orders, and records the results in a searchable database. Traditionally, LIS has played a crucial role in public health institutions and their associated labs by managing and reporting vital data concerning infection status, immunology, and the care and treatment of patients. Healthcare professionals, including physicians and lab technicians, rely on LIS to coordinate a wide range of medical testing, both inpatient and outpatient, encompassing areas such as hematology, chemistry, immunology, and microbiology. These systems are prevalent in well-developed healthcare systems.
The implementation of LIS brings about several advantages, including the reduction of transcription errors and time-saving in the data capture process. Enhanced efficiency, cost reduction, and ease of maintenance are driving factors for the adoption of LIS. It allows for the automated generation of reports and quick access to information. Furthermore, LIS streamlines tasks and processes, reducing workload and stress on the core system. It offers various formats for financial, operational, inventory, reports, and tests. Modern LIS solutions, like Care Data Informatics, empower laboratory owners to analyze data, identify trends, make accurate predictions, and ultimately increase revenue. However, challenges such as a shortage of skilled professionals and the high development cost of software hinder the growth of the LIS market. LIS systems also enable a paperless environment and ensure compliance through a structured approach. Moreover, the rapid evolution of diagnostic and medical laboratories presents growth opportunities for healthcare information systems, particularly in the emerging LIS market.
North America is expected to hold the most significant share in the LIS market, driven by the widespread adoption of new healthcare technologies. Countries like the United States and Canada have implemented healthcare IT systems extensively, contributing to market growth. Europe, with its technological advancements in healthcare and a growing focus on data management and governance, occupies the second-largest market share in the LIS sector. The Asia-Pacific region is anticipated to experience the fastest growth during the forecast period. The key driver in this region is the efficiency enhancement that LIS brings to healthcare data management.
2. Internal and External subject matter experts
3. Professionals and participants from the industry
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
2. Complete coverage of all the segments in the laboratory information system market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global laboratory information system market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
A Laboratory Information System (LIS) is a specialized healthcare information system designed to manage and store clinical data related to medical processes and tests conducted in clinical laboratories. Typically, LIS software facilitates the ordering of laboratory tests, tracks these orders, and records the results in a searchable database. Traditionally, LIS has played a crucial role in public health institutions and their associated labs by managing and reporting vital data concerning infection status, immunology, and the care and treatment of patients. Healthcare professionals, including physicians and lab technicians, rely on LIS to coordinate a wide range of medical testing, both inpatient and outpatient, encompassing areas such as hematology, chemistry, immunology, and microbiology. These systems are prevalent in well-developed healthcare systems.
The implementation of LIS brings about several advantages, including the reduction of transcription errors and time-saving in the data capture process. Enhanced efficiency, cost reduction, and ease of maintenance are driving factors for the adoption of LIS. It allows for the automated generation of reports and quick access to information. Furthermore, LIS streamlines tasks and processes, reducing workload and stress on the core system. It offers various formats for financial, operational, inventory, reports, and tests. Modern LIS solutions, like Care Data Informatics, empower laboratory owners to analyze data, identify trends, make accurate predictions, and ultimately increase revenue. However, challenges such as a shortage of skilled professionals and the high development cost of software hinder the growth of the LIS market. LIS systems also enable a paperless environment and ensure compliance through a structured approach. Moreover, the rapid evolution of diagnostic and medical laboratories presents growth opportunities for healthcare information systems, particularly in the emerging LIS market.
North America is expected to hold the most significant share in the LIS market, driven by the widespread adoption of new healthcare technologies. Countries like the United States and Canada have implemented healthcare IT systems extensively, contributing to market growth. Europe, with its technological advancements in healthcare and a growing focus on data management and governance, occupies the second-largest market share in the LIS sector. The Asia-Pacific region is anticipated to experience the fastest growth during the forecast period. The key driver in this region is the efficiency enhancement that LIS brings to healthcare data management.
Report Findings
1) Drivers
- Significance provided by laboratory information system such as improved efficiency, cost reduction, and easy maintenance is driving the growth of the laboratory information system.
- Increasing demand for efficient laboratory management is driving the market growth.
2) Restraints
- The lack of experienced professionals and high development cost of software hinders the growth of the laboratory information system.
3) Opportunities
- The rapid revolutionization in the diagnostic and medical laboratories is creating an opportunity for the growth of the healthcare information system in the emerging laboratory information system.
Research Methodology
A) Primary Research
The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents.The primary respondents approached include:
1. Key Opinion Leaders2. Internal and External subject matter experts
3. Professionals and participants from the industry
The primary research respondents typically include:
1. Executives working with leading companies in the market under review2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.The secondary sources of the data typically include:
1. Company reports and publications2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segments Covered
The global laboratory information system market is segmented on the basis of application, delivery, and component.The Global Laboratory Information System Market by Component
- Software
- Services
The Global Laboratory Information System Market by Delivery Mode
- Cloud-based
- On-premise
The Global Laboratory Information System Market by Product
- Standalone
- Integrated
The Global Laboratory Information System Market by End User
- Diagnostic Laboratories
- Hospitals & Clinics
- Others
Company Profiles
The companies covered in the report include:
- Healthcare Solutions, Inc.
- Athenahealth
- Agfa-Gevaert N.V.
- Oracle Cerner
- Epic Systems Corporation
- GE HealthCare
- Medidata
- MCKESSON CORPORATION
- NextGen Healthcare, Inc.
- Siemens Healthcare GmbH
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the laboratory information system market.2. Complete coverage of all the segments in the laboratory information system market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global laboratory information system market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. The Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
This product will be delivered within 1-3 business days.
Table of Contents
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Global Laboratory Information System Market Overview
Chapter 5. Company Profiles and Competitive Landscape
Chapter 6. Global Laboratory Information System Market by Component
Chapter 7. Global Laboratory Information System Market by Delivery Mode
Chapter 8. Global Laboratory Information System Market by Product
Chapter 9. Global Laboratory Information System Market by End User
Chapter 10. Global Laboratory Information System Market by Region 2023-2030
Companies Mentioned
- Healthcare Solutions, Inc.
- Athenahealth
- Agfa-Gevaert N.V.
- Oracle Cerner
- Epic Systems Corporation
- GE HealthCare
- Medidata
- MCKESSON CORPORATION
- NextGen Healthcare, Inc.
- Siemens Healthcare GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 255 |
| Published | October 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 2.05 Billion |
| Forecasted Market Value ( USD | $ 3.46 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
