Laboratory Information System (LIS) Market Size, Share, Report, Analysis, Forecast to 2023

Laboratory information system (LIS) is a software that accounts, stores, and manages data for laboratories. This system is used to send laboratory test orders, record test results, store data in a database used by the user. At present, these systems are used widely in public health institutions, such as hospitals and clinics, to maintain data of patients tests, tracking of data quality, location and security, and end-user billing.

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The market is driven by need to control diagnostic errors, rise in chronic disease, utilization of LIS to enhance laboratory clinical workflow efficiency, incorporation of laboratory information system with Electronic Health Record (EHR) Systems, and increase in demand for quality & precise diagnosis. However, high maintenance cost of LIS systems and lack of skilled IT professionals in the healthcare industry may hamper this growth. In addition, introduction of novel systems and cloud-based LIS, integration of LIS with hospital management systems, and potential in emerging geographies present numerous opportunities for market growth.

The global LIS market is segmented on the basis of product, delivery mode, component, end user, and region. Based on product, the market is bifurcated into standalone LIS and integrated LIS systems. The delivery mode segment includes on-premise LIS, web-based LIS, and cloud-based LIS. Based on component, the market is segmented into LIS services and software. Based on end user, it is classified into hospital laboratories, independent laboratories, physician office laboratories, and others (blood banks, retail clinics, and nursing homes). Geographically, it is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).

Key players operating in the global laboratory information system (LIS) market are Cerner Corporation, McKesson Corporation, Epic Corporation Inc., Medical Information Technology, Inc., SCC Soft Computer, Sunquest Information Systems, Inc., CompuGroup Medical AG, Computer Programs and Systems, Inc., Merge Healthcare, Inc., and Orchard Software Corporation.

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Key Benefits

• The study provides an in-depth analysis of the market with current trends and future estimations to elucidate the imminent investment pockets.
• It offers a quantitative analysis from 2016 to 2023 to enable the stakeholders to capitalize on prevailing market opportunities.
• Extensive analysis by product helps in understanding the various types of systems used for laboratory information systems market.
• Comprehensive analysis of all geographical regions is provided to determine the prevailing opportunities.
• Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the global market.

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