Laboratory Information System /LIS Market - Industry Analysis, Market Size, Share, Trends, Growth and Forecast 2020 - 2025

Report Code: HCR 0494 Report Format: PDF + Excel (Delivery in 48 Hrs)
Laboratory Information System Market size in 2019 is estimated to be $1.5 billion, growing at a CAGR of 7.3% during the forecast period 2020-2025. The laboratory information system are also referred to as laboratory management system which is a software that records, manages and stores data for clinical laboratories. The laboratory information system is used for schedule testing, track tests, and pass their results to other systems in the supply chain such as enterprise resource planning system. Rising incidence of chronic disease and technological advancement are the major factors driving the growth of the market. Moreover, increasing demand for integrated information system in the healthcare industry and rise in the number of medical procedures further enhance the overall market demand for laboratory information system during the forecast period 2020-2025.

Report Coverage
The report: “Laboratory Information System Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Laboratory Information System Market:

By Product: Standalone, Integrated
By Component: Software, Services
By Delivery Mode: Web-based, On-premise, Cloud-based
By End-Use Industries: Hospital Laboratories, Physician Laboratories, Independent Laboratories, and Others
By Geography: North America, Europe, Asia Pacific, and RoW

Key Takeaways
  • In 2019, North America dominates the laboratory information system market owing to increasing prevalence of diseases, advanced instruments and technologies and increasing healthcare expenditure.
  • Rising incidence of chronic diseases and technological advancement is driving the market growth of laboratory information system.
  • Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the laboratory information system market report.
  • The high cost of laboratory information system and rising data security and privacy concern are challenging the growth of the market. 

Product - Segment Analysis
Based on the Product, Laboratory Information System Market is segmented into Standalone, Integrated. The integrated segment is forecast to be the fastest-growing segment and is estimated to grow at a CAGR of 6.5% during the forecast period 2020-2025. This is mainly owing to less human error and provides more accurate information system that improves the overall efficiency of laboratory. Moreover, it saves time and thus offering an efficient data management solutions that are contributing to the growth of this segment.

Delivery Mode - Segment Analysis
Based on the Delivery Mode, Laboratory Information System Market is segmented into Web-based, On-premise, Cloud-based. In 2019, on-premise held the largest share in the laboratory information system market. This is mainly owing to low cost and data securities. Moreover, it provides an internal network that is accessible anytime that are also contributing to the growth of this segment.

Geography - Segment Analysis
North America dominated the laboratory information system market share accounting for 41% of the market in 2019. This is mainly owing to increasing prevalence of diseases, advanced instruments and technologies and increasing healthcare expenditure. According to the World Health Organization, chronic diseases such as heart disease, cancer, diabetes are the leading cause of death. It is estimated that about 60% of people are suffering from chronic diseases so the demand for laboratory services are increasing in the U.S.

However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is mainly owing to growing geriatric population and growing healthcare facilities.

Drivers – Laboratory Information System Market 
  • Rising Incidence of Chronic Disease
Rising incidence of chronic disease increasing the demand for advanced diagnostic and laboratory services are some factors driving the growth of laboratory information system market. Moreover, government are taking various initiatives for patients with chronic diseases in order to make it cost effective to provide treatment are also set to increase the market growth. 
  • Technological Advancements
Technological Advancements in laboratory information system and increasing healthcare expenditure are some factors driving the growth of the market. Moreover, growing adoption of various technologies such as IT robotics automation, precision medicine virtual reality and advancement for health related laboratory testing further contributing to the growth of laboratory information system market.

Challenges – Laboratory Information System Market 
The high cost of laboratory information system and rising data security and privacy concern are challenging the growth of the market. Moreover, lack of skilled professional and requirements of specialized laboratories are further restraining its market growth during the forecast period 2020-2025.

Laboratory Information System Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Laboratory Information System Market. Laboratory Information System top 10 companies are  Orchard Software Corporation, Sunquest Information Systems Inc., Cerner Corporation, Computer Programs and Systems, Inc., CompuGroup Medical AG, Meditech , Comps Pro Med, Inc, LabWare, Inc. , LabSoft, Inc., and Clinlab, Inc. 

Acquisitions/Product Launches
  • On 10 November 2018, Sunquest Information Systems Inc. has acquisition with UNIConnect Inc. to improve and specializes in software for molecular laboratories and molecular diagnostics solutions.
  • On May 2019, Evident has acquisition with Sunnybrook Health Science Center for the implementation of hospital information system solution.
1. Laboratory Information System Market Overview
    1.1 Definitions and Scope
2. Laboratory Information System Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key trends by Product
    2.3 Key trends by Component
    2.4 Key trends by Delivery Mode
    2.5 Key trends by End-Use Industries
    2.6 Key trends by Geography
3. Laboratory Information System Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies
    3.4 Patent Analysis - Key Companies
    3.5 Pricing Analysis
4. Laboratory Information System Market- Startup companies Scenario Premium (Premium)
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Laboratory Information System Market- Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Laboratory Information System Market Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes 
7. Laboratory Information System Market- Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Laboratory Information System Market– By Product (Market Size -$Million/$Billion)
    8.1 Standalone
    8.2 Integrated
9. Laboratory Information System Market– By Component (Market Size -$Million/$Billion)
    9.1 Software
    9.2 Services
10. Laboratory Information System Market – By Delivery Mode (Market Size -$Million/$Billion)
    10.1 Web-based
    10.2 On-premise
    10.3 Cloud-based
11. Laboratory Information System Market– By End-Use Industries (Market Size -$Million/$Billion)
    11.1 Hospital Laboratories
    11.2 Physician Laboratories
    11.3 Independent Laboratories
    11.4 Others
12. Laboratory Information System Market- By Geography (Market Size -$Million/$Billion)
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 Japan
        12.3.3 South Korea
        12.3.4 India
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 Rest of the World
        12.4.1 Middle East
        12.4.2 Africa
        12.4.3 South America
13. Laboratory Information System Market– Entropy
14. Laboratory Information System Market Industry / Segment Competition landscape Premium (Premium)
    14.1 Market Share Analysis
        14.1.1 Market Share by Country- Key companies
        14.1.2 Market Share by Region- Key companies
        14.1.3 Market Share at Global Level- Key companies
        14.1.4 Best Practices for Companies
15. Laboratory Information System Market- Key Company List by Country Premium (Premium)
16. Laboratory Information System Market Company Analysis
    16.1 Company Revenue, Products, M&A, Developments
    16.2 Company 1
    16.3 Company 2
    16.4 Company 3
    16.5 Company 4
    16.6 Company 5
    16.7 Company 6
    16.8 Company 7
    16.9 Company 8
    16.10 Company 9
    16.11 Company 10 and more
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