Global Laboratory Information Systems Industry

New Study On “Global Laboratory Information Systems Market 2019: Size, Share, Demand, Trends, Growth and 2023 Forecasts ” Added to Wise Guy Reports Database

A recent report indicates that the global Laboratory Information System (LIS) market is set to rise at an enormous Compound Annual Growth Rate (CAGR) of 9.3% in the period 2018-2023, over the last period, 2013-2017. The report predicts the market to reach around USD 2.4 bn by the end of 2024, as against the actual figure of USD 1.8 bn by the end of 2016.

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The report also displays the market share, strategic analysis, forecast, and profiles of the key players in the LIS business. These are:

3M Company 
Abbott Laboratories Inc. 
Allscripts-Misys 
Autoscribe Informatics Inc. 
Cerner Corporation 
CompuGroup Medical SE 
Core Informatics 
GE Healthcare 
Genohm S.A. 
Horizon LIMS 
Illumina Inc. 
Lab Lynx Inc. 
LabSoft LIMS 
LabVantage Solutions, Inc. 
LabWare Inc. 
AAC Infotray AG 
Mckesson Corporation 
Medical Information Technology, Inc 
Merge Healthcare Inc. 
Novatek International 
Orchard Software Corporation 
PerkinElmer Inc. 
Roper Technologies, Inc. 
Siemens Healthineers 
Thermo Fisher Scientific Inc

A Laboratory Information System (LIS) is a software tool used to record, manage and store data for clinical laboratories. It is basically designed to store accurate data of patients’ health reports that can be used for proper disease diagnosis as well as for future references. The rising demand for better and quality healthcare is the driving force of the LIS market. Further, the adoption of cloud-based LIS across various segments means the data is portable, and can be accessed anytime from anywhere across the world. This has further motivated the healthcare sector and governments to go for this modern software tool.

However, the report also sheds light on various concerns affecting the LIS market like, high operational costs, complex technical guidelines, and lack of skilled IT professionals. Nevertheless, the market is slated to only grow despite these problems and  further once these problems are ironed out.

Regional Analysis

Regions, in the report, have been divided into North America, Europe, Asia Pacific (APAC) and the Rest of the World (RoW).

North America- U.S. and Canada

Europe- Germany, France, U.K., Italy, Rest of Europe

APAC- China, Japan, India and Rest of APAC

Rest of the World

North America has been and is expected to be the largest market player in terms of revenue, for the said period, owing to technology driven culture, presence of major market players like GE Healthcare, Perkin Elmer Inc. etc.

APAC countries like China and India are also expected to contribute significantly to the market share due to rapid technological advancements, huge customer base, rising healthcare expenditure, digitalization and government’s support for healthcare sector to go for advanced LIS systems.

Europe is also going to emerge as a lucrative market for LIS.

Low Middle-Income regions like Africa have the biggest scope due to due to rising incidences of various diseases and a call for effective diagnosis.

The report takes into account various factors, qualitative and quantitative, and reaches on projections based on extensive research of past trends, market behavior, industry performance, and technological potential.

Segmental Analysis

The report observes the global Laboratory Information Systems (LIS) market segments based on four aspects; Deployment, End user/Application, Components and Region.

Segments on the basis of Deployment include,

• Web-based
• On-Premise
• Cloud-based

Segments based on End user/Application include,

• Physician Laboratories
• Hospital Laboratories
• Research Laboratories

Segments based on Components include,

• Hardware
• Software
• Services

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