Laboratory Information Systems (LIS) Market Size, Share, Growth Report 2030

Laboratory Information Systems (LIS) Market

Laboratory Information Systems (LIS) Market By Product (Standalone LIS and Integrated LIS), By Component (Services and Software), By Delivery Mode (On-premise and Cloud-based), By End-user (Hospital Laboratories, Independent Laboratories, POLs, and other end-users) And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022-2028

Category: Healthcare Report Format : PDF Pages: 155 Report Code: ZMR-2180 Published Date: Apr-2022 Status : Published

The global Laboratory Information Systems (LIS) market was worth around USD 1472.9 million in 2021 and is estimated to grow to about USD 2443.130325 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.8 percent over the forecast period.

Laboratory Information Systems (LIS) Market

Industry Prospective:

The global Laboratory Information Systems (LIS) market was worth around USD 1472.9 million in 2021 and is estimated to grow to about USD 2443.130325 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.8 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Laboratory Information Systems (LIS) Market: Overview

A laboratory information system (LIS) is computer software that processes, stores and manages data from all stages of medical processes and tests. It is used to coordinate varieties of inpatient and outpatient medical testing, including hematology, chemistry, immunology, and microbiology. The electronic data capture process of a laboratory information system reduces time spent and cuts errors associated with the transcribing process. At present, these systems are used widely in public health institutions, such as hospitals and clinics, to maintain data on patients’ tests, tracking of data quality, location and security, and end-user billing.

The laboratory information systems (LIS) market is growing due to the increasing need for the developed healthcare monitoring systems, improved effectiveness of the laboratories, and hospitals, and the laboratories’ position for the information systems. Moreover, the market is driven by the need to control diagnostic faults, rise in long-lasting diseases, utilization of LIS to enhance laboratory clinical workflow efficiency, incorporation of laboratory information systems with Electronic Health Record (EHR) systems, and increase in demand for quality & specific diagnosis.

COVID-19 Impact:

The COVID-19 pandemic is anticipated to notably widen the increase in the laboratory information systems (LIS) market. Healthcare facilities faced immense pressure to create a well-coordinated environment where all functions are connected internally, and the organization operates in coordination with other healthcare units, during the pandemic. This resulted in the increased demand for laboratory information systems (LIS). Also, research laboratories focused on developing treatments or vaccines for COVID-19, and they need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of informatics solutions, such as LIS.

Laboratory Information Systems (LIS) Market: Growth Drivers

Need for laboratory automation

Laboratory automation minimizes human errors due to repetitive tasks such as pipetting and moving plates and improves accuracy. It is emerging as an effective solution for tackling the shortage of laboratory professionals and reducing manual involvement in lab processes. The rise in the data being produced by Laboratory systems has created the necessity for efficient data storage, analysis, and sharing methods. Laboratory information systems offer an effective solution to this demand, as these solutions significantly facilitate, advance, and improve the productivity and efficiency of laboratory processes.

Laboratory Information Systems (LIS) Market: Restraints

High maintenance costs

The high maintenance and service costs related to LIS form a major restraint on market growth. According to industry experts, the maintenance cost of this system is more than the actual price of the software. Due to these factors, many small and medium-sized laboratories find it difficult to invest in these systems, thereby limiting their implementation. However, with the emergence of cloud-based LIS offerings, the effect of this restraint is expected to decrease in the coming years.

Laboratory Information Systems (LIS) Market: Segmentation

The global Laboratory Information Systems (LIS) market is segregated based on product, component, delivery mode, and end-user.

By product, the global market is distinguished into Standalone LIS and Integrated LIS. The Integrated LIS segment is anticipated to have the largest share of the market and is poised to dominate the market during the forecast period 2021-2028. The swift growth can be attributed to its various benefits such as automated laboratory administration, reduced risk of errors, integration of instruments and equipment, and higher overall efficiency. Furthermore, integrated LIS eliminates the need for manual order entry, which disregards any risk of human errors and saves time. The system makes use of barcode technology with an interface to LIS for order entry and tracking.

By Delivery Mode, the global market is bifurcated into On-premise and Cloud-based. Among them, the On-premise segment accounted for the largest share of the market in 2021. It requires the laboratories to have a license of the software. As this licensed copy stays within the laboratory, it can provide much higher data protection than the Cloud-based delivery mode. On-Premise delivery requires in-house server hardware, software licenses, integration capabilities, and IT employees in order to function properly. Though, in Cloud-based, a third-party host will provide the services. However, the Cloud-based delivery mode segment is also anticipated to witness significant growth during the forecast period.

Global Laboratory Information Systems (LIS) MarketRequest Free Sample

Recent Developments

  • January 2021 - SCC Soft Computer’s SoftBank.web version 25.6, with enhanced features to rise productivity in the laboratory while maintaining compliance with safety regulations, received 510(k) clearance from the US Food and Drug Administration.
  • December 2020 - CompuGroup Medical (Germany) acquired Schuyler House, an established developer of LIS, to increase its footprint in the US and expand its portfolio of lab management software.
  • December 2020 - Cerner Corporation (US) collaborated with Xealth to foster digital innovation and strengthen connections between providers and patients.

Regional Landscape

North America dominated the laboratory information systems market followed by Europe and the Asia Pacific. North America’s dominance in the market can be accredited to the strong economic countries-US and Canada, which have enabled significant investments in new technologies, growth in biobanks, easy availability of LIS products & services, and stringent regulatory requirements across industries. Factors contributing to the growth of this region includes exceedingly developed healthcare infrastructure, high healthcare expenditure, and increasing penetration of IT in the healthcare sector. Additionally, growth in the Asia Pacific region during the forecast period is due to the increase in disposable income, rising elderly population, and growth in public healthcare funding in major emerging economies like India and China.

Report Scope:

 

Competitive Landscape

Some of the main competitors dominating the global Laboratory Information Systems (LIS) market include - Orchard Software Corporation (US), Sunquest Information Systems (US), Cerner Corporation (US), CompuGroup Medical (Germany), Computer Programs and Systems Inc. (US), Meditech (US), SCC Soft Computer (US), Epic Systems Corporation (US), Comp Pro Med (US), American Soft Solutions Corp. (US), Allscripts Healthcare Solutions, Inc. (US), WebPathLab (US), XIFIN (US), Clinsis (Nicaragua), Computer Service and Support (CSSLIS) (US), ASPYRA LLC (US), Apex Healthware (US), Pathagility (US), LabVantage Solutions (US), HEX Laboratory Systems (US), LigoLab Information Systems (US), TECHNIDATA (France), Seacoast Laboratory Data Systems (US), Alphasoft GmbH (Germany) and Dendi, Inc. (US).

Global Laboratory Information Systems (LIS) market is segmented as follows:

By Product

  • Standalone LIS
  • Integrated LIS

By Component

  • Services
  • Software

By Delivery Mode

  • On-premise
  • Cloud-based

By End-user

  • Hospital Laboratories
  • Independent Laboratories
  • POLs
  • Other end-users

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

Free Analysis

FrequentlyAsked Questions

Laboratory automation minimizes human errors due to repetitive tasks such as pipetting and moving plates and improves accuracy. It is emerging as an effective solution for tackling the shortage of laboratory professionals and reducing manual involvement in lab processes. The rise in the data being produced by Laboratory systems has created the necessity for efficient data storage, analysis, and sharing methods. Laboratory information systems offer an effective solution to this demand, as these solutions significantly facilitate, advance, and improve the productivity and efficiency of laboratory processes.

 

According to the Market Research report, the global Laboratory Information Systems (LIS) market was worth around USD 1472.9 million in 2021 and is estimated to grow to about USD 2443.130325 million by 2028, with a compound annual growth rate (CAGR) of approximately 8.8 percent over the forecast period.

 

North America leads the global Laboratory Information Systems (LIS) market because of its presence of exceedingly developed healthcare infrastructure, high healthcare expenditure, and increasing penetration of IT in the healthcare sector. The Asia Pacific region is projected to register the fastest growth during the forecast period owing to the increase in disposable income, rising elderly population, and growth in public healthcare funding in major emerging economies like India and China.

Some of the main competitors dominating the global Laboratory Information Systems (LIS) market include - Orchard Software Corporation (US), Sunquest Information Systems (US), Cerner Corporation (US), CompuGroup Medical (Germany), Computer Programs and Systems Inc. (US), Meditech (US), SCC Soft Computer (US), Epic Systems Corporation (US), Comp Pro Med (US), American Soft Solutions Corp. (US), Allscripts Healthcare Solutions, Inc. (US), WebPathLab (US), XIFIN (US), Clinsis (Nicaragua), Computer Service and Support (CSSLIS) (US), ASPYRA LLC (US), Apex Healthware (US), Pathagility (US), LabVantage Solutions (US), HEX Laboratory Systems (US), LigoLab Information Systems (US), TECHNIDATA (France), Seacoast Laboratory Data Systems (US), Alphasoft GmbH (Germany) and Dendi, Inc. (US).

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