The global laboratory information systems (LIS) market revolves around advanced software solutions facilitating efficient laboratory data management. LIS integrates and streamlines processes, encompassing sample tracking, data analysis, and reporting in healthcare and research laboratories. LIS enhances laboratory efficiency by focusing on improving workflows, accuracy, and compliance. It plays a pivotal role in modern healthcare, ensuring seamless data management, improved diagnostic capabilities, and streamlined laboratory operations, ultimately contributing to enhanced patient care and advancements in scientific research.
Data Bridge Market Research analyses that the Global 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% from 2023 to 2030.
"Increasing demand for integrated healthcare solutions the market growth"
The rising demand for integrated healthcare solutions, driven by the necessity for seamless coordination and interoperability among diverse healthcare systems, underscores the importance of laboratory information systems (LIS). These solutions enable the efficient sharing of patient data, test results, and medical records across various departments and facilities. Integration enhances care coordination, patient safety, and data-driven decision-making, reducing redundant tests. Integrated healthcare solutions contribute to superior patient outcomes and healthcare delivery by streamlining workflows and improving efficiency.
What restraints the growth of the global laboratory information systems (LIS) market?
" High servicing and maintenance costs hamper the market growth"
The substantial servicing and maintenance costs associated with laboratory information systems (LIS) significantly impede market growth. These costs often surpass the initial product investment, with ongoing expenses accounting for approximately 20-30% of the total cost of ownership. Additionally, expenses related to training and implementation make up about 15% of the total cost. These financial constraints pose challenges for small and medium-sized laboratories, limiting their ability to invest in LIS, thereby restricting widespread adoption and impeding market growth.
Segmentation: Global Laboratory Information Systems (LIS) Market
The global laboratory information systems (LIS) market is segmented on the basis of product, type, components, delivery mode, and end user.
- On the basis of product, the global laboratory information systems (LIS) market is segmented into standalone, and integrated
- On the basis of type, the global laboratory information systems (LIS) market is segmented into clinical, and anatomical
- On the basis of component, the global laboratory information systems (LIS) market is segmented into services, and software
- On the basis of delivery mode, the global laboratory information systems (LIS) market is segmented into cloud-based, and on-premises
- On the basis of end user, the global laboratory information systems (LIS) market is segmented into hospitals, clinics, anatomical pathology laboratories, blood banks, molecular diagnostic laboratories, and others
Regional Insights: North America dominates the Global Laboratory Information Systems (LIS) Market
North America dominates the global laboratory information systems (LIS) market, driven by robust healthcare facilities, a substantial presence of major players, an upsurge in surgical procedures among athletes, and a growing number of research activities. The region's influential factors contribute to its market dominance, positioning North America as a key player in shaping the trajectory and advancements within the laboratory information systems market on a global scale.
Asia-Pacific is expected to dominate the global laboratory information systems (LIS) market during the forecast period from 2023 to 2030. This dominance is driven by government initiatives fostering awareness, a rise in medical tourism, increased research activities, a vast untapped market, a substantial population pool, and a growing demand for quality healthcare in the region. These factors position Asia-Pacific as a pivotal player, propelling significant growth in the global LIS market.
Recent Developments: Global Laboratory Information Systems (LIS) Market
- In 2022, Roche Diagnostics China collaborated with Sanomede Medical Technology to launch RS600 Lab Automation Software in the Chinese market. This strategic partnership aimed to enhance laboratory automation solutions for improved efficiency and outcomes
- In 2022, Biosero, Inc., a BICO subsidiary, expanded its Green Button Go software suite, introducing new products and features. This suite empowers customers with advanced capabilities to optimize automated laboratory systems, streamline processes, and achieve superior results
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The Prominent Key Players Operating in the Global Laboratory Information Systems (LIS) Market Include:
- 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)
Above are the key players covered in the report, to know about more and exhaustive list of global laboratory information systems (LIS) market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Laboratory Information Systems (LIS) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. 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 vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
