Laboratory information management systems market

Laboratory Information Systems Market, By Component Type (Software, Hardware, Services), By Delivery Mode (On Premise, Cloud-Based), By End User (Hospitals, Clinics, Independent Laboratories, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

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Jan 2020
CMI58
140 Pages
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Healthcare IT

Summary

Laboratory Information Systems Market – Insights

Laboratory Information System (LIS) is a healthcare IT tool that captures, records, and manages patient’s data that has been gathered and captured during the medical processes and tests. The stored information is saved in LIS database for future reference. LIS offers features such as patient check in, patient demographics, order entry, specimen processing, and result entry.

The global laboratory information systems market is estimated to account for US$ 3,266.2 Mn in terms of value by the end of 2027.

Global Laboratory Information Systems Market: Drivers

Increasing prevalence of chronic diseases is expected to propel growth of the global laboratory information systems market over the forecast period. For instance, according to the World Health Organization, around 18.1 million new cases and 9.6 million deaths were registered due to cancer worldwide in 2018.

Moreover, increasing demand for laboratory automation and development of integrated LIS is also expected to boost growth of the market. For instance, in December 2019, Dorado Health System, a 4-hospital academic system, licensed Health Gorilla to integrate with Dorado's IT systems, including electronic medical record systems and laboratory information systems, to aggregate clinical documents for every patient managed by the system.

North America region held dominant position in the global laboratory information systems market in 2018, accounting for 57.5% share in terms of volume, followed by Europe.

Figure 1. Global Laboratory Information Systems Market Value (US$ Mn), by Region, 2018

Global Laboratory Information Systems Market: Restraints

The cost of implementing a LIS is very high. Therefore, laboratories, especially in emerging economies, may find is difficult to migrate from manual record-keeping to LIS. Such scenario is expected to hinder growth of the global laboratory information systems market.

Moreover, privacy and security concerns of LIS are also expected to hamper growth of the market. LIS data could be misused intentionally or unintentionally or could be accessed illegally or by unauthorized persons at hospitals, clinics or healthcare facilities.

Global Laboratory Information Systems Market: Opportunities

Emergence of medical tourism in various countries in Asia Pacific, especially Vietnam, Thailand, Malaysia, Indonesia, India, and Philippines is expected to create lucrative growth opportunities for players in the global laboratory information systems market. For instance, according to India Brand Equity Foundation’s January 2019 release, the estimated Foreign Tourist Arrivals (FTAs) in India on medical purpose during the years 2015, 2016, and 2017 were 2,33,918, 4,27,014, and 4,95,056 respectively.

Moreover, increasing incidences of various diseases in Asia Pacific has led to high demand for diagnostic tests in the region. For instance, according to WHO Globocan 2018, China recorded 4,285,033 new cases of cancer in 2018. The market is also relatively untapped. Key players in the market can focus on expanding their presence in such regions to enhance their market share.

Services segment in the global laboratory information systems market was valued at US$ 862.3 Mn in 2018 and is expected to reach US$ 2,013.7 Mn by 2027 at a CAGR of 9.6% during the forecast period.

Market Trends/Key Takeaways

The demand for cloud-based LIS is increasing as the approach requires lower capital expenses and operational costs compared to on premise-based LIS. Cloud-based solutions aid healthcare organizations share and integrate information from different locations, making the process of data gathering seamless.

The demand for standalone LIS is increasing compared to integrated LIS as standalone LIS has the ability to work offline as it is not a part of any software package. It also offers enhanced data security and user-friendly interface.

Global Laboratory Information Systems Market: Competitive Landscape

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.

Global Laboratory Information Systems Market: Key Developments

Key players in the market are focused on adopting M&A strategies to enhance their market share. For instance, in October 2019, Orchard Software, a laboratory information system vendor, was acquired by Francisco Partners, a leading technology-focused, private equity firm.

Key players in the market are focused on acquiring tenders to enhance their market share. For instance, in February 2018, Sunquest Information Systems, Inc. received a 10-year tender to provision laboratory-related software solutions and services for the State of Queensland, Australia.

Table of Content

Table of Contents

Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

Market Purview

Report Description

Market Definition and Scope

Executive Summary

Market Snippet, By Component Type
Market Snippets, By Delivery Mode
Market Snippets, By End User
Market Snippet, By Region
Coherent Opportunity Map (COM)

Market Dynamics, Regulations, and Trends Analysis

Market Dynamics

Drivers
Restraints
Market Opportunities

Laboratory Information Systems Market, By Component Type, 2019 – 2027, (US$ Mn)

Introduction

Market Share Analysis, 2019 and 2027 (%)
Y-o-Y Growth Analysis, 2017 – 2027
Segment Trends

Software

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Hardware

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Services

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Laboratory Information Systems Market, By Delivery Mode, 2019 – 2027, (US$ Mn)

On Premise

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Cloud-Based

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Laboratory Information Systems Market, By End User, 2019 – 2027, (US$ Mn)

Hospitals

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Clinics

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Independent laboratories

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Independent Catheterization Laboratories

Introduction
Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)

Laboratory Information Systems Market, By Region, 2019 – 2027, (US$ Mn)

Introduction

Market Share Analysis, By Region, 2019 and 2027 (%)
Y-o-Y Growth Analysis, For Regions, 2017–2026

North America

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

U.S.
Canada

Latin America

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

Brazil
Mexico
Argentina
Rest of Latin America

Europe

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

China
India
Japan
Australia
South Korea
ASEAN
Rest of APAC

Middle East

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

GCC
Israel
Rest of Middle East

Africa

Market Size and Forecast, By Component Type, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Delivery Mode, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By End User, 2016 – 2027, (US$ Mn)
Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)

South Africa
Central Africa
North Africa

Competitive Landscape

Company Profiles

Edwards Lifesciences Corporation

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

ICU Medical, Inc.

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

PULSION Medical Systems SE

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Koninklijke Philips N.V.

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

General Electric Company

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

OMRON Corporation

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

B. Braun Melsungen AG

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

LIDCO Ltd.

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Medtronic, Inc.

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Drägerwerk AG & Co. KGaA

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Schwarzer Cardiotek GmbH

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Osypka Medical GmbH

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Tensys Medical Inc.

Company Overview
Product Portfolio
Financial Overview
Key Highlights
Market Strategies

Section

References
Research Methodology
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- Frequently Asked Questions -

What are the growth estimates for laboratory information systems market till 2027?

The global laboratory information systems market is estimated to surpass US$ 3,266.2 Million by 2027.

Which are the prominent laboratory information systems market players across the globe?

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

What are the key factors hampering growth of the laboratory information systems market?

Privacy and security concerns of LIS is one the major factors that is expected to hamper growth of the market over the forecast period.

What are the key factors driving growth of the laboratory information systems market?

Increasing demand for laboratory automation and development of integrated LIS are some of the major factors that are expected to propel growth of the market over the forecast period.

Which segment based on delivery mode, accounted for the highest demand in the laboratory information systems market

Among delivery mode, cloud-based laboratory information systems segment held dominant position in the global laboratory information systems market in 2018.

Which region is dominating the laboratory information systems market growth?

Among regions, North America held dominant position in the global laboratory information systems market in 2018, accounting for 57.5% share, in terms of volume, followed by Europe.