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Global Laboratory Information Systems (LIS) Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Aug 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Laboratory Information Systems (LIS) Market, By Product (Standalone, Integrated), Type (Clinical, Anatomical), Components (Services, Software), Delivery Mode (Cloud-Based, On-Premises), End Use (Hospitals, Clinics, Anatomical Pathology Laboratories, Blood Banks, Molecular Diagnostic Laboratories, Others) – Industry Trends and Forecast to 2029.

Laboratory Information Systems (LIS) Market

Laboratory Information Systems (LIS) Market Analysis and Size

The market for laboratory information systems (LIS) is primarily propelled by these products' standout features, which include greater productivity, decreased diagnostic errors, and precise, high-quality diagnosis, all of which have raised customer satisfaction. The market for laboratory information systems is also being driven by the rising need for a digital platform that can manage, store, and retrieve data in real time through a variety of patient interfaces.

Data Bridge Market Research analyses that the laboratory information systems (LIS) market which was USD 1.85 billion in 2021, would rocket up to USD 3.42 billion by 2029, and is expected to undergo a CAGR of 8.0% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Laboratory Information Systems (LIS) Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Standalone, Integrated), Type (Clinical, Anatomical), Components (Services, Software), Delivery Mode (Cloud-Based, On-Premises), End Use (Hospitals, Clinics, Anatomical Pathology Laboratories, Blood Banks, Molecular Diagnostic Laboratories, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Thermo Fisher Scientific (U.S), LabWare (U.S.), LabVantage Solutions Inc. (U.S.), Abbott (U.S.), Core Informatics (U.S.), LabLynx LIMS (Laboratory Information Management System) (U.S.), Labworks (U.S.), Computing Solutions and Inc. (U.S.), Autoscribe Informatics (U.K.), Illumina, Inc. (U.S.), Siemens (Germany), Accelerated Technology Laboratories, Inc. (U.S.), Orchard Software Corporation (U.S.), Cerner Corporation (U.S.), Soft Computer Consultants, Inc. (U.S.), Sunquest Information Systems Inc. (U.S.), McKesson Corporation (U.S.)

Market Opportunities

  • Companies are focused on attaining SMEs
  • Increasing Popularity of AI integrated PIM Solutions

Market Definition

LIS (Laboratory Information Systems) is a software service built for usage in various labs that aids in the automation of laboratory activities as well as the categorization and management of lab information. This program aids in the organization of data, resulting in increased operational efficiency and effectiveness.

Global Laboratory Information Systems (LIS) Market Dynamics

Drivers

  • Connected to PIM Solutions

Data management has become critical in every industry in today's fast-paced corporate climate. End-users can store customized information about the patient, dosage description, and medicine description using the product information management system. These technologies are capable of efficiently handling and managing data and information. With the support of a diverse workflow, these solutions also help to increase transparency, generate ownership, and facilitate interdepartmental cooperation.

  • A preference for a centralized data model in the pharmaceutical industry

In the pharmaceutical business, centralized data models have seen widespread acceptance. Researchers employ stored information and data to detect chemical formulae, test theories, and compound patterns when producing novel drug versions.

  • Increasing demand for automated operations

Due to the demand for efficient operations and rise in incidences of chronic diseases globally, this factor is expected to drive the market's growth.

  • Increasing need for laboratory automation

Laboratory automation is gaining traction as a viable solution to the difficulties of a labour scarcity and strategies to eliminate manual intervention in lab processes. Automation of regular lab procedures boosts lab efficiency and allows individual researchers to focus on critical activities with the use of dedicated workstations and software to programme devices. Automation produces high-quality data and makes documentation easier.

Opportunities

  • Strategic Mergers and Acquisitions

Pharmaceutical businesses are concentrating their efforts on acquiring SMEs that specialise in designing and developing PIM solutions. This will assist them boost their market position by expanding their present product offers. This is projected to boost the global market's growth prospects.

  • Rising Popularity of AI integrated PIM Solutions

The availability of a variety of sales channels, such as voice-assisted shopping and e-commerce platforms, has prompted clients to choose AI-integrated PIM solutions in the pharmaceutical industry. These systems provide customized descriptions based on the preferences of the customer. Furthermore, rising demand for real-time data and product information is expected to open up new prospects for market participants.

  • Restraints/Challenges

The high costs involved with installing and integrating these software services and a scarcity of experienced and skilled professionals for the system's integration and operation are projected to limit market growth.

This laboratory information systems (LIS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the laboratory information systems (LIS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Laboratory Information Systems (LIS) Market

The outbreak of COVID-19 led in a surge in demand for medical items, disrupting the whole pharmaceutical supply chain. Despite this, the corporations have greatly increased their production capacities in order to keep up with the growing demand for these products. Managing highly regulated and accurate product information has become critical in the pharmaceutical industry. This is projected to have a favourable impact on the growth of the worldwide pharmaceutical product information management system. Clinical trials are being hampered by COVID-19. In clinical trial phases, a product information management system is critical. In order to progress to the second step of the clinical trial, researchers consult the information and data offered by PIM solutions.

Global Laboratory Information Systems (LIS) Market Scope

The laboratory information systems (LIS) market is segmented on the basis of product, type, components, delivery mode and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Standalone
  • Integrated

 Type

  • Clinical
  • Anatomical

 Components

  • Services
  • Software

Delivery Mode

  • Cloud-Based
  • On-Premises

 End Use

  • Hospitals
  • Clinics
  • Anatomical Pathology Laboratories
  • Blood Banks
  • Molecular Diagnostic Laboratories
  • Others

Global Laboratory Information Systems (LIS) Market Regional Analysis/Insights

The laboratory information systems (LIS) market is analyzed and market size insights and trends are provided by country, product, type, components, delivery mode and end-user as referenced above.

The countries covered in the laboratory information systems (LIS) market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the laboratory information systems (LIS) market because of the strong base of healthcare facilities, strong presence of major players in the market, increases cases of surgical procedures among the athletes and growing number of research activities in this region. 

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, increase in medical tourism, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Competitive Landscape and Laboratory Information Systems (LIS) Market Share Analysis

The laboratory information systems (LIS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to laboratory information systems (LIS) market.

Some of the major players operating in the laboratory information systems (LIS) market are:

  • Thermo Fisher Scientific (U.S)
  • LabWare (U.S.)
  • LabVantage Solutions Inc. (U.S.)
  • Abbott (U.S.)
  • Core Informatics (U.S.)
  • LabLynx LIMS (Laboratory Information Management System) (U.S.)
  • Labworks (U.S.)
  • Computing Solutions and Inc. (U.S.)
  • Autoscribe Informatics (U.K.)
  • Illumina, Inc. (U.S.)
  • Siemens (Germany)
  • Accelerated Technology Laboratories, Inc.(U.S)
  • Orchard Software Corporation (U.S.)
  • Cerner Corporation (U.S.)
  • Soft Computer Consultants, Inc. (U.S.)
  • Sunquest Information Systems Inc. (U.S.)
  • McKesson Corporation (U.S.)

 Research Methodology: Global Laboratory Information Systems (LIS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Customization Available

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The laboratory information systems (LIS) market value is projected USD 3.42 billion by 2029.
The laboratory information systems (LIS) market is projected to grow at a CAGR of 8.0% during the forecast period of 2022-2029.
The major players operating in the Laboratory Information Systems (LIS) Market are Thermo Fisher Scientific (U.S), LabWare (U.S.), LabVantage Solutions Inc. (U.S.), Abbott (U.S.), Core Informatics (U.S.), LabLynx LIMS (Laboratory Information Management System) (U.S.), Labworks (U.S.), Computing Solutions and Inc. (U.S.), Autoscribe Informatics (U.K.), Illumina, Inc. (U.S.), Siemens (Germany), Accelerated Technology Laboratories, Inc. (U.S.), Orchard Software Corporation (U.S.), Cerner Corporation (U.S.), Soft Computer Consultants, Inc. (U.S.), Sunquest Information Systems Inc. (U.S.), McKesson Corporation (U.S.).
The major countries covered in the Laboratory Information Systems (LIS) Market are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.