Laboratory Information Systems (LIS) Market worth $2.4 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 30, 2021 /PRNewswire/ -- According to the new market research report "Laboratory Information Systems (LIS) Market by Product (Standalone, Integrated), Component (Services, Software), Delivery Mode (On-premise, Cloud-based), End User (Hospital Labs, Independent Labs, POLs, Other End Users) & Region - Global Forecasts to 2026", published by MarketsandMarkets™, the global LIS Market is projected to reach USD 2.4 billion by 2026 from an estimated USD 1.5 billion in 2021, at a CAGR of 9.0%.
Browse in-depth TOC on "Laboratory Information Systems (LIS) Market"
291 – Tables
31 – Figures
231 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=232312738
The Growth in this Laboratory Information Systems Market can be primarily attributed to the need for laboratory automation, development of integrated laboratory information systems, need to comply with regulatory requirements, rising prevalence of chronic diseases, and growing adoption of LIS to enhance lab efficiency.
Laboratory information systems (LIS) help streamline laboratory processes to decrease specimen handling time, increase productivity, and improve turnaround time.
The COVID-19 pandemic has had a significant impact on the world's population and economy. As a result of the pandemic, healthcare facilities face immense pressure to create a well-coordinated environment where all clinical functions are connected internally, and the organization operates in coordination with other healthcare units. The novel coronavirus pandemic has exerted enormous strain on the functioning of healthcare and life sciences industries. Research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of informatics solutions, such as LIS.
Standalone LIS to register the highest growth in the LIS product market
Based on product, the LIS market is segmented into standalone LIS and integrated LIS. In standalone software, service providers maintain and upgrade the software, while integrated software is used mainly as an application by end users. The standalone LIS segment is expected to account for the largest share of 59.4% of the laboratory information systems market in 2021. Standalone LIS can work offline and is user-friendly compared to the integrated LIS. Standalone LIS has data models tailored specifically to manage laboratory operations and data, which differ fundamentally from EHRs, HISs, or other information systems.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=232312738
On-premise LIS to hold the largest segment of the LIS market
Based on the delivery mode, the market is segmented into on-premise and cloud-based LIS. The on-premise LIS segment is expected to account for the largest share of 69.7% of the laboratory information systems market in 2021. On-premise delivery allows end users to use solutions from multiple vendors, which enables customizations as per end user requirements. While on-premise solutions hold the larger share of this market, a growing number of healthcare providers are opting for cloud-based LIS due to its advantages, such as cost-effectiveness and ease of use.
North American laboratory information systems market to dominate the market during the forecast period
North America dominated the laboratory information systems market in 2020 and is expected to grow at an 8.7% CAGR during the forecast period. The large share of the North American market can be attributed to the increasing cancer prevalence, favorable reimbursement policies, and favorable initiatives by regional governments. The developed infrastructure and growth in demand for digitalized technologies across North America are driving the implementation of different analytical solutions among industries.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=232312738
Some of the prominent players operating in the laboratory information systems market are Orchard Software Corporation (US), Sunquest Information Systems (US), Cerner Corporation (US), CompuGroup Medical (Germany), Computer Programs and Systems Inc. (US), Meditech (US), SCC Soft Computer (US), Epic Systems Corporation (US), Comp Pro Med (US), American Soft Solutions Corp. (US), Allscripts Healthcare Solutions, Inc. (US), WebPathLab (US), XIFIN (US), Clinsis (Nicaragua), Computer Service and Support (CSSLIS) (US), ASPYRA LLC (US), Apex Healthware (US), Pathagility (US), LabVantage Solutions (US), HEX Laboratory Systems (US), LigoLab Information Systems (US), TECHNIDATA (France), Seacoast Laboratory Data Systems (US), Alphasoft GmbH (Germany) and Dendi, Inc. (US), among others.
Browse Adjacent Markets: Healthcare IT Market Research Reports & Consulting
Browse Related Reports:
Lab Automation Market by Product (Robotic Arm, Microplate Readers, Workstation, LIMS, ELN), Application (Drug Discovery, Diagnostics, Genomics, Proteomics, Microbiology), End-User (Pharma, Diagnolab, Forensics, Environmental) - Global Forecast to 2025
https://www.marketsandmarkets.com/Market-Reports/lab-automation-market-1158.html
Laboratory Information Management System (LIMS) Market by Type (Broad, Industry-specific), Component (Software, Services), Delivery (On premise, Remote, Cloud), End User (CRO, Pharma, Biotech, Chemical, Agriculture, FnB, Oil, Gas) - Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/laboratory-information-system-market.asp
Visit Our Web Site: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/laboratory-information-system.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
Share this article