Laboratory Information System Market

Laboratory Information System Market by Product (Standalone, Integrated), Component (Services, Software), End-user (Hospital Labs, Independent Labs, Pols), Delivery Mode (On-Premise, Cloud-Based), Analysis - Global Forecast to 2024

Report Code: HIT 2808 Oct, 2019, by marketsandmarkets.com
Updated date -

[159 Pages Report] The laboratory information system market is projected to reach $2.4 billion by 2024 from $1.8 billion in 2019, at a CAGR of 6.3% during the forecast period. Factors such as the rising prevalence of chronic diseases, the need for laboratory automation & increased lab efficiency, and the development of integrated LIS are driving the growth of the LIS market. In addition, emerging countries and personalized medicine, along with the popularity of cloud-based LIS, are expected to provide significant opportunities for players in the market. However, high maintenance and service costs, the requirement of specialized laboratory units, interfacing issues, and a dearth of skilled professionals will challenge market growth in the coming year.

Laboratory Information System Market

Market Dynamics

Rising prevalence of chronic diseases

The prevalence and incidence of chronic diseases are increasing globally. According to the WHO, chronic diseases such as heart disease, cancer, chronic respiratory diseases, and diabetes are the leading cause of mortality, representing 60% of all global deaths. CVD is the leading cause of deaths in the US, with a prevalence projected to reach 40.5% (~116 million people) of the total population by 2030 from 37.8% in 2015 (Source: American Heart Association). According to the American Cancer Society, cancer accounts for one in every seven deaths, worldwide. The International Agency for Research on Cancer (IARC) also estimated the number of new cancer cases to increase to 19.3 million per year by 2025.

The growing prevalence of and concern for chronic diseases necessitates the demand for advanced diagnostic and laboratory services. The government is implementing various initiatives for patients with chronic illness such as cancer in order to make it cost-effective to provide them treatment. For instance, in 2016, the National Institutes of Health (NIH) launched the All of Us Research Program in the US, which involved a group (cohort) of at least 1 million volunteers from around the country. Participants provided genetic data, biological samples, and other information about their health. In January 2015, the US Precision Medicine Initiative provided USD 215 million to various research institutions, including NIH, the Food and Drug Administration (FDA), and the Office of the National Coordinator for Health Information Technology (ONC). Through this initiative, the National Cancer Institute received USD 70 million for the use of precision medicine in oncology research. In addition, in July 2016, the French government announced an investment of USD 760.8 million (EUR 670 million) in genomics and personalized medicine for improving disease diagnostics.

Such growth in the support for disease treatment methods and research will also drive the demand for associated technologies and solutions. Laboratory Information Systems can provide fast and accurate subtyping for diseases, as well as provide rapid access to cancer data, decrease redundancy and costs, and facilitate the integration and collection of data from different types of instruments and systems. As a result, the growing prevalence of diseases and rising support for associated research can be expected to favor market growth.

High maintenance and service costs

The high maintenance and service costs associated with Laboratory Information Systems form a major restraint to market growth. According to industry experts, the maintenance cost of IT solutions is more than the actual price of the software. Service and maintenance (which includes modifying the software as per changing user requirements) represent a recurring expenditure, amounting to almost 20–30% of the total cost of ownership. Moreover, training and implementation costs together represent around 15% of the actual price. Owing to these factors, many small and medium-sized laboratories find it difficult to invest in these systems; this limits their adoption.

Significant growth potential of emerging countries

China, Malaysia, Singapore, Brazil, India, and Middle Eastern countries are major upcoming markets for Laboratory Information Systems. In most of these countries, the Laboratory Information Systems market is still in the nascent stage. In addition, these markets lack proper standards and government regulations, thus offering potential growth opportunities for vendors unable to meet the standards set by governments in markets such as the US.

Over the last few years, there has been a significant increase in the number of clinical research activities in Asian countries. According to Clinicaltrials.gov, in June 2017, ~15% of the world’s clinical trials were being carried out in Asian countries. The large volume of data generated during such research activities is expected to necessitate the use of data management systems.

Prominent players operating in the Laboratory Information Systems market are also focusing on strengthening their presence in these emerging economies. In 2015, LabVantage Solutions, Inc. (US) announced the general availability of LabVantage Pharma in the Indian market. This enabled the company to serve its Asian customer base through local industries that can better understand the needs of customers and provide customized support services. Such launches will help strengthen the distribution networks of market players and lead to an increase in the implementation of Laboratory Information Systems in emerging economies. Moreover, with markets in the US and Europe reaching the maturity phase, the majority of market players is expected to shift their focus to emerging markets.

Personalized medicine

Personalized medicine involves using the uniqueness in each patient’s pathology and physiology to tailor treatment and prevention procedures for gaining optimal results. The need for personalized medicine is on the rise owing to the growth in the aging population and the increasing incidence of chronic diseases such as cancer. For these disease conditions, personalized medicine offers opportunities to provide targeted therapies for the destruction of tumor cells with less impact on other healthy cells. In personalized medicine, pathology data is required to prescribe the best possible therapy. The use of Laboratory Information Systems solutions can be beneficial in this regard as these solutions offer advanced functions, such as digital pathology and companion algorithms, for specimen slide diagnosis to help detect cancer cells and thus enable early diagnosis.

Personalized medicine is gaining importance across the globe and has attracted significant support. For instance, in June 2016, 3M Canada donated USD 600 million to support research into precision medicine at London Health Sciences Centre and St. Joseph’s Health Care, London. Thus, the growth in demand and rising support for personalized medicine are expected to offer significant growth opportunities to players operating in the Laboratory Information Systems market.

Requirement of specialized LABORATORY INFORMATION SYSTEMS solutions

Most medium and large clinical diagnostic laboratories comprise various specialized laboratory units for chemistry, microbiology, and hematology. These laboratories have unique workflow needs and hence require unique Laboratory Information Systems solutions to meet these requirements. Furthermore, some laboratories require customizable non-clinical functionalities such as client connectivity and billing. To come up with solutions that cater to the unique requirements of these specialized laboratory units is a major challenge for Laboratory Information Systems vendors.

Dearth of trained professionals

With the shift toward digitization, the adoption of IT solutions has increased significantly in the healthcare industry over the last decade. As a result, the demand for skilled IT professionals and personnel to interpret data from HCIT solutions is increasing. However, currently, there is a huge demand-supply gap in the industry with regard to personnel. The US Department of Labor’s (DOL) Bureau of Labor Statistics has reported that the employment of medical laboratory technologists and technicians is expected to increase by 13%, from 335,700 in 2016 to 378,400 in 2026. However, according to the University of Minnesota, there is a shortfall of ~4,500 laboratory professionals annually, and, by 2018, there will be a shortfall of ~9,000 laboratory professionals per year. This is restricting the adoption and utilization of complex software solutions in laboratories. Moreover, CROs and pharmaceutical companies are reluctant to invest time and money in training their research employees due to severe time constraints and increasing budget cuts. Such factors are expected to limit the adoption of Laboratory Information Systems to a certain extent in the coming years.

By delivery mode, on-premise LIS segment accounted for the largest share of the Lab Information Systems Market in 2018.

Based on delivery mode, the LIS market is segmented into on-premise and cloud-based LIS. In 2018, the on-premise LIS segment accounted for the largest share of the Laboratory Information System Market. The large share of this segment is primarily due to the fact that on-premise delivery allows end users to use solutions from multiple vendors, which enables customizations as per end-user requirements.

The rising emphasis on improving the quality of diagnostics will drive the adoption of the LIS among hospital laboratories.

Based on end user, the lab information systems market is segmented into hospital laboratories, independent laboratories, physician office laboratories, and other end users (blood banks, retail clinics, and nursing homes). The hospital laboratories segment accounted for the largest market share in 2018. The use of LIS in hospitals and hospital laboratories can significantly reduce waiting times for patients and improve the quality of diagnostics. Moreover, LIS can facilitate long-distance discussions with experts and also make digital slide images of specimens (such as blood smears or frozen sections) available online. Owing to these benefits, hospitals across the world are increasingly adopting LIS.

By product, standalone LIS accounted for the largest share of the LIS market in 2018.

Based on product, the LIS market is segmented into standalone LIS and integrated LIS. In 2018, the standalone LIS segment accounted for the largest share of the Market. The large share of this segment is primarily due to the ability of standalone LIS to work offline and its user-friendly nature as compared to integrated LIS.

The heavy dependency of end users on service providers will drive the services segment in the LIS market

Based on component, the LIS market is segmented into services and software. The services segment accounted for the largest market share in 2018. The large share of this segment can be attributed to their indispensable nature and repetitive requirement. End users of LIS rely heavily on service providers for consulting, data storage, implementing services, training, maintenance, and regular upgrades of solutions

North America will continue to hold a significant share of the LIS market during the forecast period.

Geographically, North America accounted for the largest share of the LIS market in 2018. The large market share of North America in the LIS market can be attributed to the increased reimbursement for pathology procedures, rising prevalence of cancer, and the presence of several major players in the US.

Laboratory Information System Market

Key Market Players

Orchard Software Corporation (US), Sunquest Information Systems Inc. (US), Cerner Corporation (US), Computer Programs and Systems, Inc. (US), CompuGroup Medical AG (Germany), Meditech (US), SCC Soft Computer (US), Epic Systems Corporation (US), Comps Pro Med, Inc. (US), Schuyler House (US), LabWare, Inc. (US), LabHealth (US), American Soft Solutions Corp (US), LigoLab LLC (US), Allscripts Healthcare Solutions, Inc. (US), Common Cents Systems, Inc. (US), XIFIN, Inc. (US), Cirdan Ltd (Ireland), Clinical Software Solutions Ltd (US), TECHNIDATA (France), Aspyra LLC (US), Clinlab, Inc. (US), HEX Labs (US), LabSoft, Inc. (US), and NovoPath, Inc. (US) are the key players in the laboratory information system market.

Orchard Software Corporation (US) was the leading player in the LIS market in 2018. The company adopted various inorganic and organic growth strategies such as product launches and partnerships to maintain and enhance its market share. From August 2017 to August 2018, the company deployed about 135 solutions at hospitals, independent labs, clinics, and other sites in the US to expand its end-user base by developing innovative solutions. Orchard has a strategic focus on expansions in growing emerging markets such as Asia and the Middle East.

Sunquest Information Systems, Inc. (US) held the second position in the LIS market in 2018. The company focuses on product deployments and acquisitions to expand its business operations. In line with this strategy, from August 2017 to August 2018, the company deployed about 78 solutions across various settings to expand its end-user base. Moreover, in November 2016, Sunquest acquired UNIConnect, a firm that specializes in software for molecular laboratories. This acquisition was aimed to deliver an end-to-end precision medicine solution that advanced patient care.

Report Scope

Report Metric

Details

Market Size Available for Years

2017–2024

Base Year Considered

2018

Forecast Period

2019–2024

Forecast Units

Value (USD)

Segments Covered

Delivery Mode, Product, Component, End User, and Region

Geographies Covered

North America (US & Canada), Europe (Germany, UK, France, Italy, Spain, & RoE), Asia Pacific (China, Japan, India, Australia and New Zealand, & RoAPAC), and the RoW (Latin America and the Middle East & Africa)

Companies Covered

12 major players, including Orchard Software Corporation (US), Cerner Corporation (US), Sunquest Information Systems Inc. (US)

This research report categorizes the market based on delivery mode, product, component, end user, and region.

On the basis of Delivery Mode, the lab information systems market has been segmented as follows:

  • On-premise LIS
  • Cloud-based LIS

On the basis of Product, the lab information systems market has been segmented as follows:

  • Standalone LIS
  • Integrated LIS

On the basis of Component, the lab information systems market has been segmented as follows:

  • Services
  • Software

On the basis of End User, the lab information systems market has been segmented as follows:

  • Hospital laboratories
  • Independent laboratories
  • Physician office laboratories
  • Other end users

On the basis of Region, the lab information systems market has been segmented as follows:

  • North America
    • US
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • RoE
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia and New Zealand
    • RoAPAC
  • Rest of the World (RoW)
    • Latin America
    • Middle East & Africa

Critical Questions the Report Answers:

  • Where will all these developments take the industry in the mid to long term?
  • What are the upcoming lab information systems (LIS)?
  • Which of the end-user segments will dominate the lab information systems (LIS) market in the future?
  • Emerging countries have immense opportunities for the growth and adoption of lab information systems (LIS). Will this scenario continue in the next five years?
  • Where will all the advancements in lab information systems (LIS) offered by various companies take the industry in the mid to long term?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 24)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 27)
    2.1 Research Data
        Figure 1 Research Methodology: Laboratory Information Systems
        Figure 2 Research Design
           2.1.1 Secondary Data
                    2.1.1.1 Secondary Sources
           2.1.2 Primary Data
                 Figure 3 Primary Research
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primaries
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
        Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
        Figure 5 Market Size Estimation Methodology: Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
        Figure 6 Data Triangulation Methodology
    2.4 Assumptions for the Study

3 Executive Summary (Page No. - 37)
  Figure 7 Laboratory Information Systems Market Share, By Delivery Mode, 2018
  Figure 8 Laboratory Information Systems Market Share, By End User, 2018
  Figure 9 Laboratory Information Systems Market Share, By Component, 2018
  Figure 10 Geographic Snapshot of the Laboratory Information Systems Market

4 Premium Insights (Page No. - 40)
    4.1 Laboratory Information Systems: Market Overview
        Figure 11 Increasing Need for Laboratory Automation to Drive Market Growth During the Forecast Period
    4.2 Geographic Analysis: North American LIS Market, By Delivery Mode
        Figure 12 On-Premise LIS Accounted for the Largest Share of the North American Market in 2018
    4.3 US: Laboratory Information Systems Market Share, By Component and Delivery Mode
        Figure 13 Services and On-Premise LIS Accounted for the Largest Share in 2018
    4.4 Geographical Snapshot of the Laboratory Information Systems Market
        Figure 14 Asia Pacifc to Witness the Highest Growth During the Forecast Period

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 Market Dynamics
        Figure 15 Laboratory Information Systems Market: Drivers, Restraints, Opportunities, and Challenges
           5.2.1 Market Drivers
                    5.2.1.1 Rising Prevalence of Chronic Diseases
                    5.2.1.2 Need for Laboratory Automation
                    5.2.1.3 Development of Integrated Laboratory Information Systems
                    5.2.1.4 Need to Comply With Regulatory Requirements
                    5.2.1.5 Increasing Adoption of LIS to Enhance Lab Efficiency
           5.2.2 Restraints
                    5.2.2.1 High Maintenance and Service Costs
           5.2.3 Opportunities
                    5.2.3.1 Growing Popularity of Cloud-Based LIS
                    5.2.3.2 Significant Growth Potential of Emerging Countries
                    5.2.3.3 Personalized Medicine
           5.2.4 Challenges
                    5.2.4.1 Interfacing With Diverse Laboratory Instruments
                    5.2.4.2 Requirement of Specialized LIS Solutions
                    5.2.4.3 Data Storage Challenges
                    5.2.4.4 Dearth of Trained Professionals

6 Laboratory Information Systems Market, By Component (Page No. - 50)
    6.1 Introduction
        Table 1 Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
    6.2 Services
           6.2.1 Heavy Dependency of End Users on Service Providers to Drive the Growth of This Market Segment in the Coming Years
                 Table 2 LIS Services Market, By Region, 2017–2024 (USD Million)
                 Table 3 North America: LIS Services Market, By Country, 2017–2024 (USD Million)
                 Table 4 Europe: LIS Services Market, By Country, 2017–2024 (USD Million)
                 Table 5 Asia Pacific: LIS Services Market, By Country, 2017–2024 (USD Million)
                 Table 6 Rest of the World: LIS Services Market, By Region, 2017–2024 (USD Million)
    6.3 Software
           6.3.1 Software Segment to Witness Higher Growth During the Forecast Period
                 Table 7 LIS Software Market, By Region, 2017–2024 (USD Million)
                 Table 8 North America: LIS Software Market, By Country, 2017–2024 (USD Million)
                 Table 9 Europe: LIS Software Market, By Country, 2017–2024 (USD Million)
                 Table 10 Asia Pacific: LIS Software Market, By Country, 2017–2024 (USD Million)
                 Table 11 Rest of the World: LIS Software Market, By Region, 2017–2024 (USD Million)

7 Laboratory Information Systems Market, By Product (Page No. - 57)
    7.1 Introduction
        Table 12 Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
    7.2 Standalone LIS
           7.2.1 Enhanced Data Security and User-Friendly Nature – Major Factors Supporting the Adoption of Standalone LIS
                 Table 13 Standalone LIS Market, By Region, 2017–2024 (USD Million)
                 Table 14 North America: Standalone LIS Market, By Country, 2017–2024 (USD Million)
                 Table 15 Europe: Standalone LIS Market, By Country, 2017–2024 (USD Million)
                 Table 16 Asia Pacific: Standalone LIS Market, By Country, 2017–2024 (USD Million)
                 Table 17 Rest of the World: Standalone LIS Market, By Region, 2017–2024 (USD Million)
    7.3 Integrated LIS
           7.3.1 Integrated LIS Segment to Witness Higher Growth During the Forecast Period
                 Table 18 Integrated LIS Market, By Region, 2017–2024 (USD Million)
                 Table 19 North America: Integrated LIS Market, By Country, 2017–2024 (USD Million)
                 Table 20 Europe: Integrated LIS Market, By Country, 2017–2024 (USD Million)
                 Table 21 Asia Pacific: Integrated LIS Market, By Country, 2017–2024 (USD Million)
                 Table 22 Rest of the World: Integrated LIS Market, By Region, 2017–2024 (USD Million)

8 Laboratory Information Systems Market, By Delivery Mode (Page No. - 64)
    8.1 Introduction
        Table 23 Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
    8.2 On-Premise
           8.2.1 On-Premise Delivery is Preferred Due to the Advantages Related to the Customization of Solutions
                 Table 24 On-Premise LIS Market, By Region, 2017–2024 (USD Million)
                 Table 25 North America: On-Premise LIS Market, By Country, 2017–2024 (USD Million)
                 Table 26 Europe: On-Premise LIS Market, By Country, 2017–2024 (USD Million)
                 Table 27 Asia Pacific: On-Premise LIS Market, By Country, 2017–2024 (USD Million)
                 Table 28 Rest of the World: On-Premise LIS Market, By Region, 2017–2024 (USD Million)
    8.3 Cloud-Based
           8.3.1 Cloud-Based LIS Segment to Register Higher Growth During the Forecast Period
                 Table 29 Cloud-Based LIS Market, By Region, 2017–2024 (USD Million)
                 Table 30 North America: Cloud-Based LIS Market, By Country, 2017–2024 (USD Million)
                 Table 31 Europe: Cloud-Based LIS Market, By Country, 2017–2024 (USD Million)
                 Table 32 Asia Pacific: Cloud-Based LIS Market, By Country, 2017–2024 (USD Million)
                 Table 33 Rest of the World: Cloud-Based LIS Market, By Region, 2017–2024 (USD Million)

9 Laboratory Information Systems Market, By End User (Page No. - 71)
    9.1 Introduction
        Table 34 Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
    9.2 Hospital Laboratories
           9.2.1 Affordability and Availability of Integrated LIS Solutions to Drive Their Demand in Hospital Laboratories
                 Table 35 LIS Market for Hospital Laboratories, By Region, 2017–2024 (USD Million)
                 Table 36 North America: LIS Market for Hospital Laboratories, By Country, 2017–2024 (USD Million)
                 Table 37 Europe: LIS Market for Hospital Laboratories, By Country, 2017–2024 (USD Million)
                 Table 38 Asia Pacific: LIS Market for Hospital Laboratories, By Country, 2017–2024 (USD Million)
                 Table 39 Rest of the World: LIS Market for Hospital Laboratories, By Region, 2017–2024 (USD Million)
    9.3 Independent Laboratories
           9.3.1 Rising Demand for Managing Workflows, Enhancing Billing Processes, and Improving Turnaround Times in Independent Laboratories to Drive the Demand for LIS
                 Table 40 LIS Market for Independent Laboratories, By Region, 2017–2024 (USD Million)
                 Table 41 North America: LIS Market for Independent Laboratories, By Country, 2017–2024 (USD Million)
                 Table 42 Europe: LIS Market for Independent Laboratories, By Country, 2017–2024 (USD Million)
                 Table 43 Asia Pacific: LIS Market for Independent Laboratories, By Country, 2017–2024 (USD Million)
                 Table 44 Rest of the World: LIS Market for Independent Laboratories, By Region, 2017–2024 (USD Million)
    9.4 Physician Office Laboratories
           9.4.1 LIS Assists Physicians in Laboratory and Clinical Functions and Secure Access to Lab Results
                 Table 45 LIS Market for Physician Office Laboratories, By Region, 2017–2024 (USD Million)
                 Table 46 North America: LIS Market for Physician Office Laboratories, By Country, 2017–2024 (USD Million)
                 Table 47 Europe: LIS Market for Physician Office Laboratories, By Country, 2017–2024 (USD Million)
                 Table 48 Asia Pacific: LIS Market for Physician Office Laboratories, By Country, 2017–2024 (USD Million)
                 Table 49 Rest of the World: LIS Market for Physician Office Laboratories, By Region, 2017–2024 (USD Million)
    9.5 Other End Users
        Table 50 LIS Market for Other End Users, By Region, 2017–2024 (USD Million)
        Table 51 North America: LIS Market for Other End Users, By Country, 2017–2024 (USD Million)
        Table 52 Europe: LIS Market for Other End Users, By Country, 2017–2024 (USD Million)
        Table 53 Asia Pacific: LIS Market for Other End Users, By Country, 2017–2024 (USD Million)
        Table 54 Rest of the World: LIS Market for Other End Users, By Region, 2017–2024 (USD Million)

10 Laboratory Information Systems Market, By Region (Page No. - 84)
     10.1 Introduction
          Figure 16 North America Dominated the LIS Market in 2018
          Table 55 Laboratory Information Systems Market, By Region, 2017–2024 (USD Million)
     10.2 North America
          Figure 17 North America: Laboratory Information Systems Market Snapshot
          Table 56 North America: Laboratory Information Systems Market, By Country, 2017–2024 (USD Million)
          Table 57 North America: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
          Table 58 North America: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
          Table 59 North America: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
          Table 60 North America: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.2.1 US
                        10.2.1.1 Favorable Regulatory and Reimbursement Scenarios in the US have Driven the Use of LIS
                                 Table 61 US: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 62 US: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 63 US: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 64 US: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.2.2 Canada
                        10.2.2.1 Growing Need for Quality Cancer Diagnosis in Canada to Support Market Growth
                                 Table 65 Canada: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 66 Canada: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 67 Canada: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 68 Canada: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
     10.3 Europe
          Figure 18 Europe: Laboratory Information Systems Market Snapshot
          Table 69 Europe: Laboratory Information Systems Market, By Country, 2017–2024 (USD Million)
          Table 70 Europe: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
          Table 71 Europe: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
          Table 72 Europe: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
          Table 73 Europe: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.1 Germany
                        10.3.1.1 Growing Focus of Market Players Will Drive the Growth of the German LIS Market
                                 Table 74 Germany: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 75 Germany: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 76 Germany: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 77 Germany: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.2 UK
                        10.3.2.1 Government Initiatives Likely to Propel the Adoption of LIS in the UK
                                 Table 78 UK: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 79 UK: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 80 UK: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 81 UK: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.3 France
                        10.3.3.1 Rising Geriatric Population to Create A Potential Market for Digital Healthcare in France
                                 Table 82 France: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 83 France: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 84 France: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 85 France: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.4 Italy
                        10.3.4.1 Conferences Supporting the Growth of the LIS Market in Italy
                                 Table 86 Italy: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 87 Italy: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 88 Italy: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 89 Italy: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.5 Spain
                        10.3.5.1 Growing R&D Activities and Expenditure to Drive Market Growth in Spain
                                 Table 90 Spain: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 91 Spain: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 92 Spain: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 93 Spain: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.3.6 RoE
                    Table 94 RoE: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                    Table 95 RoE: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                    Table 96 RoE: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                    Table 97 RoE: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
     10.4 Asia Pacific
          Figure 19 Asia Pacific: Laboratory Information Systems Market Snapshot
          Table 98 Asia Pacific: Laboratory Information Systems Market, By Country, 2017–2024 (USD Million)
          Table 99 Asia Pacific: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
          Table 100 Asia Pacific: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
          Table 101 Asia Pacific: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
          Table 102 Asia Pacific: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.4.1 China
                        10.4.1.1 Healthcare Infrastructure Improvements to Support Market Growth in China
                                 Table 103 China: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 104 China: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 105 China: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 106 China: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.4.2 Japan
                        10.4.2.1 Rising Geriatric Population and the Increasing Burden of Chronic Diseases to Drive Market Growth in Japan
                                 Table 107 Japan: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 108 Japan: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 109 Japan: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 110 Japan: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.4.3 India
                        10.4.3.1 Rapid Growth in the Healthcare Industry to Drive the Demand for Laboratory Information Systems in India
                                 Table 111 India: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 112 India: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 113 India: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 114 India: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.4.4 Australia & New Zealand
                        10.4.4.1 Implementation of Hcit Programs in Australia & New Zealand to Support Market Growth
                                 Table 115 Australia & New Zealand: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 116 Australia & New Zealand: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 117 Australia & New Zealand: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 118 Australia & New Zealand: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.4.5 Rest of Asia Pacific
                    Table 119 RoAPAC: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                    Table 120 RoAPAC: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                    Table 121 RoAPAC: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                    Table 122 RoAPAC: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
     10.5 Rest of the World
          Figure 20 RoW: Laboratory Information Systems Market Snapshot
          Table 123 Rest of the World: Laboratory Information Systems Market, By Region, 2017–2024 (USD Million)
          Table 124 Rest of the World: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
          Table 125 Rest of the World: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
          Table 126 Rest of the World: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
          Table 127 Rest of the World: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.5.1 Latin America
                        10.5.1.1 Rising Awareness of Hcit Solutions to Support Market Growth in Latam Countries Such as Brazil
                                 Table 128 Latin America: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 129 Latin America: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 130 Latin America: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 131 Latin America: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)
             10.5.2 Middle East & Africa
                        10.5.2.1 Healthcare Infrastructure Development to Drive Market Growth in the Middle East
                                 Table 132 Middle East & Africa: Laboratory Information Systems Market, By Product, 2017–2024 (USD Million)
                                 Table 133 Middle East and Africa: Laboratory Information Systems Market, By Delivery Mode, 2017–2024 (USD Million)
                                 Table 134 Middle East and Africa: Laboratory Information Systems Market, By Component, 2017–2024 (USD Million)
                                 Table 135 Middle East and Africa: Laboratory Information Systems Market, By End User, 2017–2024 (USD Million)

11 Competitive Landscape (Page No. - 128)
     11.1 Overview
          Figure 21 Key Developments in the Laboratory Information Systems Market Between 2016 and 2019
             11.1.1 Market Ranking of Players, 2018
                    Figure 22 Laboratory Information Systems Market Ranking, By Key Player (2018)
     11.2 Competitive Leadership Mapping
             11.2.1 Visionary Leaders
             11.2.2 Innovators
             11.2.3 Dynamic Differentiators
             11.2.4 Emerging Companies
                    Figure 23 Laboratory Information Systems Market, Competitive Leadership Mapping, 2018
     11.3 Competitive Scenario
             11.3.1 Solution Launches
                    Table 136 Solution Launches
             11.3.2 Solution Enhancement
                    Table 137 Solution Enhancement
             11.3.3 Partnerships, and Agreements
                    Table 138 Partnerships and Agreements
             11.3.4 Acquisitions
                    Table 139 Acquisitions

12 Company Profiles (Page No. - 136)
(Business Overview, Products Offered, Recent Developments, MnM View)*
     12.1 Orchard Software Corporation
     12.2 Sunquest Information Systems, Inc. (Acquired By Roper Technologies, Inc.)
          Figure 24 Roper Technologies, Inc.: Company Snapshot
     12.3 Cerner Corporation
          Figure 25 Cerner Corporation: Company Snapshot
     12.4 Computer Programs and Systems, Inc. (CPSI)
          Figure 26 Computer Programs and Systems, Inc.: Company Snapshot
     12.5 Compugroup Medical AG
          Figure 27 Compugroup Medical AG: Company Snapshot
     12.6 Meditech (Medical Information Technology, Inc.)
     12.7 SCC Soft Computer
     12.8 EPIC Systems Corporation
     12.9 Comp Pro Med, Inc.
     12.10 Schuyler House

*Business Overview, Products Offered, Recent Developments, MnM View Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 153)
     13.1 Discussion Guide
     13.2 Available Customizations
     13.3 Related Reports
     13.4 Author Details

The study involved four major activities in estimating the current size of the laboratory information system (LIS) market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Businessweek, and Factiva have been referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard & silver-standard websites, regulatory bodies, and databases.

Primary Research

The LIS market comprises several stakeholders such as healthcare IT vendors, hospital laboratories, physician office laboratories, commercial/independent laboratories, healthcare associations/institutes, healthcare IT service providers, government bodies, accountable care organizations, business research and consulting service providers, and venture capitalists. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of the primary respondents:

Laboratory Information System Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the LIS market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets have been identified through extensive secondary research
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

  • To define, describe, segment, and forecast the laboratory information system market by delivery mode, component, product, end user, and region
  • To provide detailed information about the factors (such as drivers, restraints, opportunities, and challenges) influencing market growth
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall laboratory information system market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
  • To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
  • To strategically analyze the market structure and profile the key players in the laboratory information system market and comprehensively analyze their core competencies
  • To track and analyze competitive developments such as collaborations & partnerships, product launches & enhancements, and acquisitions in the laboratory information system market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Portfolio Analysis

  • Product Matrix, which gives a detailed comparison of the product portfolios of each company (Top 3 companies)

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)
Report Code
HIT 2808
Published ON
Oct, 2019
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