Healthcare Services

Global Laboratory Information System Market Outlook, Opportunities And Strategies

November 24, 2021 by The Business Research Company

Learn about the global laboratory information system market through The Business Research Company, which provides information on laboratory information system market size, laboratory information system market drivers and restraints, laboratory information system market players, the COVID-19 impact on the laboratory information system market, and more.

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The global laboratory information system market is expected to grow from $1.59 billion in 2020 to $1.72 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The laboratory information system market is expected to reach $2.88 billion in 2025 at a CAGR of 14%.

The rising demand for lab automation is expected to drive innovation in laboratory information system, thus driving the market during the forecast period.

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The laboratory information system market consists of revenue generated by the companies offering laboratory information system software products and related services. A laboratory information system is a software or database that helps in efficient managing of a clinical laboratory for storing, processing, and tracking of data, which used by the hospitals, laboratories, physician offices and clinics for optimizing their workflow.

Global laboratory information system market segments include:

By Product: Standalone LIS, Integrated LIS

By End User: Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, Others

By Component: Software, Services

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa

A cloud-based laboratory information system is expected to become the leading trend in the laboratory information systems market. Cloud computing is associated with the sharing of computer resources and services including storage and servers over the internet for a reduced cost, increased speed, productivity, and security of the system in the network. The cloud system in laboratory information systems offers various advantages such as cost-efficiency, better results, and progress without space constrain.

TBRC’s laboratory information system market report covers:

Major Market Players: 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.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)

The Laboratory Information System Global Market Report 2021: COVID-19 Growth and Change to 2030 is one of a series of new reports from The Business Research Company that provides laboratory information system market overviews, analyzes and forecasts market size, share, laboratory information system market players, laboratory information system market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s laboratory information system market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

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