Laboratory Information Systems (LIS) Market Growth, Size, Share, Trends, and Forecast 2030

Table Of Content

Methodology

Free Analysis

Laboratory information system (LIS) is a device that records, manages, and stores healthcare information collected during medical processes and tests. Data stored in an LIS database can be managed through various platforms and can be recollected for various references in the future. Laboratory information system allows the storage of data which includes order entry, patient check-in, result entry, patient demographics, and specimen processing. Laboratory information system has its application in independent laboratories, hospitals, and clinics.

As per the World Health Organization, cardiovascular diseases are one of the causes of death worldwide. About 17.5 million people died because of cardiovascular diseases in 2015 representing 31% of all global deaths. Additionally, as per the World Health Organization estimates, worldwide, there were 14 million new cancer cases in 2012 and 8.8 million deaths resulted due to cancer in 2015. Globally, approximately 1 in 6 deaths is due to cancer. Also, the global burden of these disorders is increasing further owing to the increasing geriatric population base across the world. According to the World Health Organization, the number of people who were aged 60 or above is expected to be doubled by 2050 and will reach 2.1 billion in 2050 from 962 million globally. Thus, laboratory information system (LIS) market has a vast potential in terms of large patient pool and upsurge need for a significant prominent platform to enhance the workflow productivity of clinical laboratories. This is estimated to drive the laboratory information system (LIS) market services over the estimated period.

The global laboratory information systems (LIS) market is divided into its components, delivery mode, and end-user. On the basis of the component, the market is divided into services, hardware, and software. By component, the service segment is estimated to hold prominent market value share and software segment is expected to show the highest CAGR growth.
 
Based on delivery mode, the laboratory information system (LIS) market is categorized into cloud-based and on-premises delivery mode. By delivery mode, the on-premise segment is estimated to hold the largest market value share because of the increasing demand for the customized systems embedded with enhanced security features. 

On the basis of the end-user, the laboratory information system (LIS) market is segregated as hospitals, clinics, independent laboratories, and others. By end user, hospital segment is estimated to cover the largest market value share and independent laboratories are expected to show a significant CAGR growth.

North America is anticipated to be the dominant region in the laboratory information systems (LIS) market over the forecast period. Favorable government policies supporting the invasion of new and advanced services, development in the healthcare infrastructure, and research grant by the government and ruling authorities are expected to propel the growth of the market in this region. Europe is the second largest market followed by Asia Pacific. Large healthcare industry due to the large population base in the Asia Pacific region, especially India, China and Japan is the significant accelerating factor for the growth of the laboratory information systems (LIS) market in this region. Therefore, Asia Pacific is anticipated to show the fastest CAGR growth during the forecast period whereas Latin America market is estimated to grow at slow to moderate rate during the forecast period. The Middle East and Africa are also expected to cover the prominent market value share in the laboratory information systems (LIS) market.

Some of the key players in laboratory information systems (LIS) market include Medical Information Technology, LabWare, Cerner Corp., McKesson, CompuGroup Medical, SCC Soft Computer, Evident, Epic Systems Corporation, Sunquest Information Systems Inc., and others.