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 2030.
Laboratory Information Systems (LIS) Market Analysis and Size
The laboratory information system market COVID-19 pandemic had shown some unexpected results. A study published in the Journal of the American Medical Informatics Association in August 2020 revealed that the implementation of laboratory information systems has enabled the Belgium national reference testing center to carry out over 25,000 COVID PCR tests in parallel to standard routine testing. Companies have responded by launching laboratory informatics specifically designed for COVID-19 testing. For instance, LabVantage's COVID-19 LIMS is a powerful, adaptable, and user-friendly system that can be easily modified to meet the increasing demand for diagnostic testing in PHLs and can also handle workflows for other types of testing.
Data Bridge Market Research analyses that the laboratory information systems (LIS) market, which was USD 2.01 billion in 2022, is expected to reach USD 3.86 billion by 2030, at a CAGR of 8.50% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Laboratory Information Systems (LIS) Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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
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Market Players Covered
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Thermo Fisher Scientific Inc. (U.S.), PerkinElmer Inc. (U.S.), Autoscribe Informatics (U.S.), Novatek International (Russia), Benchling (U.S.), Agaram Technologies Pvt Ltd (India), Agilent Technologies, Inc. (U.S.), LabWare (U.S.), STARLIMS Corporation (U.S.), IBM Corporation (U.S.), Roper Technologies, Inc (U.S.), Eusoft Ltd. (China), Illumina, Inc. (U.S.), McKesson Corporation (U.S.), Infors AG (U.S.), Siemens (Germany), Zoho Corporation Pvt. Ltd. (India), LabVantage Solutions Inc (U.S.), Shimadzu Corporation (Japan)
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Market Opportunities
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Market Definition
The laboratory information system (LIS) is a software system used to manage, record, and store data for clinical laboratories. This system streamlines the process of sending lab test orders to lab instruments and tracks and records results in a searchable database. It is widely used in hospitals, clinics, independent laboratories, and other healthcare facilities for data monitoring and management, data quality tracking, security, and end-user billing.
Laboratory Information Systems (LIS) Market Dynamics
Drivers
- Growing demand for laboratory automation will drive the market growth
The laboratory information system (LIS) market is experiencing growth due to the increasing demand for lab automation and advancements in R&D labs, particularly in pharmaceutical and biotechnological labs. Moreover, the high precision and efficiency outcomes of laboratory informatics products are also contributing to the market's expansion. Astrix Technologies LLC, a professional healthcare IT service provider, conducted a survey in 2020, which revealed that 61% of Laboratory Information Management System (LIMS) users benefited from the elimination of manual operations, 57% improved their sample management approach, and 46% observed a substantial increase in productivity within their laboratory environment.
- Growing technological advancements associated with laboratory informatics is bolstering the market growth
The laboratory informatics market has seen a surge in growth due to technological advancements that have allowed healthcare providers and scientists to prepare samples and perform diagnoses with greater precision, accuracy, and a reduced risk of errors. An example of this is LabVantage Solutions, Inc., a leading provider of laboratory informatics solutions and services, which launched LabVantage Analytics in March 2021. This software solution includes purpose-built LIS solutions that enable laboratories to launch faster and at a lower overall cost.
Opportunities
- Growing popularity of cloud-based LIS will as a market opportunity
The demand for accurate diagnosis and the integration of laboratory information systems with electronic health record (EHR) systems are driving the market growth. Additionally, the introduction of novel systems, the emergence of cloud-based LIS, the integration of LIS with hospital management systems, and the potential opportunities in emerging geographies offer various growth prospects for the market.
Restraints/Challenges
- High servicing and maintenance costs will restrain the growth of the market
The high costs associated with the service and maintenance of laboratory information systems (LIS) pose a major hindrance to the growth of the market. The cost of maintaining the IT infrastructure often exceeds the cost of the product itself. Ongoing expenses for service and maintenance, which includes making software changes to meet evolving user requirements, represent approximately 20-30% of the total cost of ownership. Additionally, expenses for training and implementation account for roughly 15% of the total cost. Given these financial constraints, many small and medium-sized laboratories find it challenging to invest in these systems, which in turn limits their adoption and ultimately affects 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.
Recent Developments
- In 2022, Roche Diagnostics China partnered with Sanomede Medical Technology Co., Ltd. to release RS600 Lab Automation Software in the Chinese market in February.
- In 2022, Biosero, Inc., a subsidiary of BICO, introduced new products and features to its Green Button Go software suite, which provides customers with advanced capabilities to optimize their automated laboratory systems, streamline processes, and achieve better results.
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 use. 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
Laboratory Information Systems (LIS) Market Regional Analysis/Insights
The laboratory information systems (LIS) market is analysed and market size insights and trends are provided by country, product, type, components, delivery mode, and end use 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.
The laboratory information systems (LIS) market is dominated by North America, due to its robust healthcare facilities, a significant presence of major players, a rise in surgical procedures among athletes, and an increasing number of research activities.
Meanwhile, Asia-Pacific is expected to experience substantial growth during the forecast period of 2023 to 2030. This growth is due to government initiatives promoting awareness, an increase in medical tourism, a surge in research activities, a massive untapped market, a large population pool, and a 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.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The laboratory information systems (LIS) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for laboratory information systems (LIS) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the laboratory information systems (LIS) market. The data is available for historic period 2011-2021.
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 Inc. (U.S.)
- PerkinElmer Inc. (U.S.)
- Autoscribe Informatics (U.S.)
- Novatek International (Russia)
- Benchling (U.S.)
- Agaram Technologies Pvt Ltd (India)
- Agilent Technologies, Inc. (U.S.)
- LabWare (U.S.)
- STARLIMS Corporation (U.S.)
- IBM Corporation (U.S.)
- Roper Technologies, Inc (U.S.)
- Eusoft Ltd. (China)
- Illumina, Inc. (U.S.)
- McKesson Corporation (U.S.)
- Infors AG (U.S.)
- Siemens (Germany)
- Zoho Corporation Pvt. Ltd. (India)
- LabVantage Solutions Inc (U.S.)
- Shimadzu Corporation (Japan)
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