Laboratory Information System (LIS) is used in diagnostic laboratories, clinics, and hospitals to coordinate varieties of inpatient and outpatient medical testing. LIS is commonly used in hematology, chemistry, immunology, pathology, and microbiology.
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 demand for personalized medicine in treatment of various diseases is expected to propel growth of the global laboratory information systems market. Pathology data is required to prescribe the best possible therapy in personalized medicine, which can be done by implementing LIS.
Global Laboratory Information Systems Market: Opportunities
Some laboratories require customizable non-clinical functionalities such as client connectivity and billing. Therefore, key players in the market can focus on offering the unique requirements of these specialized laboratory units to enhance their market share.
Global Laboratory Information Systems Market: Restraints
However, lack of skilled IT professionals and personnel is expected to hinder growth of the global laboratory information systems market. For instance, in 2018, the University of Minnesota estimated a lack of over 9,000 laboratory professionals, annually in the U.S.
The Clinics segment in the global laboratory information systems market was valued at US$ 644.6 Mn in 2018 and is expected to reach US$ 1,553.2 Mn by 2027 at a CAGR of 10.0% during the forecast period. The growth of the segment is attributed to increasing prevalence of chronic diseases during the forecast period.
The Cloud-Based laboratory information systems segment held dominant position in the global laboratory information systems market in 2018, accounting for 53.0% share in terms of value, followed by on premise laboratory information systems, respectively. The growth of the segment is attributed to increasing demand for personalized medicine in treatment of various diseases along with technological advancements in patient care.
The adoption of patient-centric electronic medical record system has increased in the recent past as involving patient and their families in the treatment process leads to more efficient and satisfying outcomes. A patient-centric electronic medical record system has various advantages such as improvement in patient’s health and reduced healthcare cost. Such scenario has prompted companies to help implement necessary patient-centric systems and strategies in hospitals.
The use of LIS has expanded beyond its original purpose of just sample management to assay data management, data mining, and data analysis. Integration of LIS with Electronic Laboratory Notebook (ELN) helps in the realisation of translational medicine completely within a single software solution. These systems also help in generation of comprehensive case-centric clinical data.
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
Scope of the report
“*” marked represents similar segmentation in other categories in the respective section.