SEATTLE, June 21, 2021, (MEDGADGET) — Global Laboratory Information Systems (LIS) Market
Laboratory information systems are widely employed in diagnostic laboratories, clinics, and hospitals for the purpose of coordinating a number of inpatient and outpatient medical tests. These systems also find extensive application in the fields of hematology, chemistry, immunology, pathology, and microbiology. Therefore, the global laboratory information systems market is projected to accumulate US$ 3,266.2 million, in terms of value, by the end of 2027.
Global Laboratory Information Systems Market – Drivers, Restraints & Opportunities
Escalating demand for personalized medicine in the treatment of various diseases is expected to propel the growth of the global laboratory information systems market over the forecast timeline. Hence, with the implementation of these systems, which assist in the compilation of pathology data, it is easier to prescribe the best possible therapies in personalized medicine.
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Some laboratories require customizable non-clinical functionalities, for example, client connectivity and billing. Therefore, the key market players are currently focused on offering such unique requirements of these specialized laboratory units, in order to eventually strengthen their market presence.
On the contrary, absence of skilled IT professionals & personnel is a highly unfavorable factor for the global market growth. For instance, in 2018, the University of Minnesota reported a shortage of over 9,000 laboratory professionals in the U.S.
Key Market Takeaways:
The clinics segment in the global laboratory information systems market was valued at US$ 644.6 million in 2018, and is estimated to reach US$ 1,553.2 million over the projected period, demonstrating a CAGR of 10.0%. Growth of this segment is accredited to the surging prevalence of chronic diseases across the world.
Furthermore, the cloud-based laboratory information systems segment, followed by the on-premise laboratory information systems segment, held the leading position in the global laboratory information systems market in 2018, accounting for a whopping 53.0% share, in terms of value. Rising demand for personalized medicine and technological advancements in patient care are the vital factors triggering the growth of this segment.
The adoption of patient-centric electronic medical record system has tremendously augmented over the past few years. This system offers a plethora of advantages, such as improved patient health and reduced healthcare costs. Owing to such benefits, several companies have introduced necessary patient-centric systems in hospitals.
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The laboratory information systems are claimed to offer much more than just sample management, assay data management, data mining, and data analysis. Thus, the integration of LIS with the Electronic Laboratory Notebook (ELN) facilitates the realization of translational medicine within a single software solution.
Leading Market Players
The major players operating in the global laboratory information systems market include Cerner Corp., Sunquest Information Systems, Inc., Evident, McKesson, Orchard Software, Medical Information Technology, Epic Systems Corporation, SCC Soft Computer, Roper Technologies Inc., CompuGroup Medical, and LabWare.
Key Developments
- In October 2018, Orchard Software’s Harvest LIS version 11.0 achieved ONC Health IT 2015 Edition Health IT Modular Certification
- In December 2019, Evident, a leading provider of electronic health record (EHR) systems & services, and Sunnybrook Health Sciences Center announced that Sunnybrook and CPSI have signed definitive agreements to create a first-of-its-kind, Canadian-made Hospital Information System (HIS) solution.
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Market Taxonomy
By Component Type:
- Software
- Hardware
- Services
By Delivery Mode:
- On-Premise
- Cloud-based
By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
By Region:
- North America
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On-premise
- Cloud-based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- S.
- Canada
- By Component Type:
- Latin America
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On-premise
- Cloud-based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Component Type:
- Europe
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On Premise
- Cloud-Based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- Germany
- K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Component Type:
- Asia Pacific
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On Premise
- Cloud-Based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Component Type:
Middle East
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On Premise
- Cloud-Based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- GCC
- Israel
- Rest of Middle East
- Africa
- By Component Type:
- Software
- Hardware
- Services
- By Delivery Mode:
- On Premise
- Cloud-Based
- By End User:
- Hospitals
- Clinics
- Independent Laboratories
- Others
- By Country:
- South Africa
- Central Africa
- North Africa
- By Component Type:
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