Laboratory Information System /LIS Market worth 2.12 Bn USD by 2021

Thursday 18 August 2016, Amsterdam

The report, now available on ASDReports, "Laboratory Information System /LIS Market by Product (Standalone, Integrated), Component (Services, Software), End User (Hospital Labs, Independent Labs), Delivery Mode (On-premise, Web-based, Cloud-based) - Analysis & Forecasts to 2021", that analyzes and studies the major market drivers, restraints/challenges, and opportunities.

This report studies the global Laboratory Information System (LIS) market for the forecast period of 2016 to 2021. This market is expected to reach USD 2.12 Billion by 2021 from USD 1.37 Billion in 2016, at a CAGR of 9.1%. A number of factors such as the rising chronic disease prevalence, growing need to curb diagnostic errors, utilization of laboratory information system (LIS) to enhance laboratory clinical workflow efficiency, rising integration of laboratory information systems (LIS) and EHR systems and demand for quality and precision diagnosis are driving the demand for laboratory information system (LIS) solutions. Moreover, this market is boosted by increasing government and industry player’s initiatives into the healthcare IT and laboratory services across the globe. However, high cost of LIS systems along with lack of skilled IT professionals in the healthcare industry are among key factors likely to hamper the growth of the market.

The global Laboratory Information System (LIS) market is segmented on the basis of product, delivery mode, component, end-users, and regions.

Based on the product, the global Laboratory Information System (LIS) market is segmented into standalone LIS and integrated LIS systems. The standalone LIS segment is estimated to account for the largest share of the global Laboratory Information System (LIS) market in 2016, while the integrated LIS segment is projected to grow at the highest CAGR during the forecast period.

Based on delivery mode, the global laboratory information system (LIS) market is segmented into on premise LIS, web-based LIS and cloud-based LIS delivery mode. The on premise segment is estimated to account for the largest share of the global laboratory information system (LIS) market in 2016, due to factors such as enhanced data security and customization of systems as per healthcare provider in on premise delivery mode.

Based on the component, the global laboratory information system (LIS) market is broadly segmented into LIS services and software. The services segment is estimated to account for the largest share of the global laboratory information system (LIS) market in 2016, and the software segment is projected to grow at the highest CAGR.

Based on end user, the global laboratory information system (LIS) market is broadly segmented into hospital laboratories, independent laboratories, physician office laboratories and others (blood banks, retail clinics, and nursing homes). The hospital laboratories segment is estimated to account for the largest share of the global market in 2016. Whereas, the independent laboratories segment is projected to grow at the highest CAGR.

On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is estimated to account for the largest share of the global laboratory information system (LIS) market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is slated to grow at the highest CAGR and serve as a revenue pocket for companies offering laboratory information system (LIS).

Prominent players in the global laboratory information system (LIS) market are Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Corporation Inc. (U.S.), Medical Information Technology, Inc. (U.S.), SCC Soft Computer (U.S.), Sunquest Information Systems, Inc. (U.S.), CompuGroup Medical AG (Germany), Computer Programs and Systems, Inc. (U.S.), Merge Healthcare, Inc. (U.S.), and Orchard Software Corporation (U.S.).