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 2031.
Laboratory Information Systems (LIS) Market Analysis and Size
The expansion of molecular diagnostic techniques, including genomics and personalized medicine, and the need for automation and robotics in laboratories primarily drive the market growth. LIS helps in automating various laboratory processes, such as sample tracking, result management, and data analysis, leading to improved productivity and accuracy. Advancements in laboratory practices, including point-of-care testing, remote monitoring, and telemedicine, necessitate adaptable LIS solutions that can support these emerging trends and ensure secure and timely data transmission.
Data Bridge Market Research analyzes that the global laboratory information systems (LIS) market, which was USD 2.18 billion in 2023, is expected to reach USD 4.19 billion by 2031, at a CAGR of 8.50% during the forecast period 2024 to 2031. 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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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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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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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)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East and Africa
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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
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.
- Growing Technological Advancements
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.
Opportunity
- Growing Popularity of Cloud-based LIS
The demand for accurate diagnosis and the integration of laboratory information systems with electronic health record (EHR) systems are driving the market growth. In addition, 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
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. In addition, 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
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 use as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt, and rest of Middle East & Africa.
North America is expected to dominate the market 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.
Asia-Pacific is expected to experience substantial growth in the market 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 Global 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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