Laboratory Information System Lis Market Size, Share, Industry Trends and Forecast to 2030

Laboratory Information System (LIS) Market Size & CAGR in 2021

The global Laboratory Information System (LIS) market size in 2021 was valued at USD 2.5 billion. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 8.2% from 2021 to 2027, reaching a value of USD 4.6 billion by the end of the forecast period. The increasing adoption of LIS in healthcare facilities to streamline operations and improve efficiency is driving the market growth.

COVID-19 Impact on the Laboratory Information System (LIS) Market

The COVID-19 pandemic has had a significant impact on the Laboratory Information System (LIS) market. Healthcare facilities worldwide were overwhelmed with the influx of COVID-19 patients, leading to an increased demand for LIS to manage and track test results efficiently. The pandemic accelerated the adoption of LIS solutions, especially in diagnostic laboratories, to enhance operational efficiency and ensure timely reporting of test results.

Laboratory Information System (LIS) Dynamics

The Laboratory Information System (LIS) market is driven by factors such as the increasing need for digitalization in healthcare, the growing focus on improving patient outcomes, and the rising demand for integrated healthcare IT solutions. The adoption of LIS solutions allows healthcare providers to streamline processes, reduce errors, and improve overall patient care.

Segments and Related Analysis

The Laboratory Information System (LIS) market can be segmented based on components, delivery mode, end-user, and region. By components, the market is segmented into software, hardware, and services. The delivery modes include on-premise LIS, cloud-based LIS, and web-based LIS. End-users of LIS solutions include hospitals, clinics, diagnostic laboratories, and others.

By Region Analysis

The Laboratory Information System (LIS) market is analyzed across regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share due to the presence of advanced healthcare infrastructure and increasing adoption of healthcare IT solutions. The Asia Pacific region is expected to witness significant growth driven by the rising demand for efficient healthcare systems.

Key Market Players and Competitive Landscape

Some of the key players in the Laboratory Information System (LIS) market include Cerner Corporation, McKesson Corporation, Epic Systems Corporation, SCC Soft Computer, and Meditech. The competitive landscape of the market is characterized by strategic partnerships, product innovations, and acquisitions to gain a competitive edge and expand market presence.

Recent Happenings in the Laboratory Information System (LIS) Market

- In March 2022, Cerner Corporation announced a collaboration with Amazon Web Services (AWS) to enhance interoperability and data sharing in healthcare systems. - In May 2021, McKesson Corporation introduced a new version of its LIS software with enhanced features for data management and reporting. - Epic Systems Corporation partnered with several healthcare providers in 2020 to implement LIS solutions for better patient care and operational efficiency. - SCC Soft Computer launched a cloud-based LIS platform in January 2021 to cater to the growing demand for remote access and digital solutions in healthcare. - Meditech expanded its LIS portfolio in 2019 with the introduction of integrated modules for pathology and laboratory management.