Laboratory Information System (LIS) 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
[153 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.
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 Laboratory Information System 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.
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.
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. - 18)
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. - 21)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
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
2.3 Market Breakdown and Data Triangulation
2.4 Assumptions for the Study
3 Executive Summary (Page No. - 31)
4 Premium Insights (Page No. - 34)
4.1 Laboratory Information System: Market Overview
4.2 Geographic Analysis: North American LIS Market, By Delivery Mode
4.3 US: Laboratory Information System Market Share, By Component and Delivery Mode
4.4 Geographical Snapshot of the Laboratory Information System Market
5 Market Overview (Page No. - 38)
5.1 Introduction
5.2 Market Dynamics
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 System
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 System Market, By Component (Page No. - 44)
6.1 Introduction
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
6.3 Software
6.3.1 Software Segment to Witness Higher Growth During the Forecast Period
7 Laboratory Information System Market, By Product (Page No. - 51)
7.1 Introduction
7.2 Standalone LIS
7.2.1 Enhanced Data Security and User-Friendly Nature Major Factors Supporting the Adoption of Standalone LIS
7.3 Integrated LIS
7.3.1 Integrated LIS Segment to Witness Higher Growth During the Forecast Period
8 Laboratory Information System Market, By Delivery Mode (Page No. - 58)
8.1 Introduction
8.2 On-Premise
8.2.1 On-Premise Delivery is Preferred Due to the Advantages Related to the Customization of Solutions
8.3 Cloud-Based
8.3.1 Cloud-Based LIS Segment to Register Higher Growth During the Forecast Period
9 Laboratory Information System Market, By End User (Page No. - 65)
9.1 Introduction
9.2 Hospital Laboratories
9.2.1 Affordability and Availability of Integrated LIS Solutions to Drive Their Demand in Hospital Laboratories
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
9.4 Physician Office Laboratories
9.4.1 LIS Assists Physicians in Laboratory and Clinical Functions and Secure Access to Lab Results
9.5 Other End Users
10 Laboratory Information System Market, By Region (Page No. - 78)
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Favorable Regulatory and Reimbursement Scenarios in the US Have Driven the use of LIS
10.2.2 Canada
10.2.2.1 Growing Need for Quality Cancer Diagnosis in Canada to Support Market Growth
10.3 Europe
10.3.1 Germany
10.3.1.1 Growing Focus of Market Players Will Drive the Growth of the German LIS Market
10.3.2 UK
10.3.2.1 Government Initiatives Likely to Propel the Adoption of LIS in the UK
10.3.3 France
10.3.3.1 Rising Geriatric Population to Create a Potential Market for Digital Healthcare in France
10.3.4 Italy
10.3.4.1 Conferences Supporting the Growth of the LIS Market in Italy
10.3.5 Spain
10.3.5.1 Growing R&D Activities and Expenditure to Drive Market Growth in Spain
10.3.6 RoE
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Healthcare Infrastructure Improvements to Support Market Growth in China
10.4.2 Japan
10.4.2.1 Rising Geriatric Population and the Increasing Burden of Chronic Diseases to Drive Market Growth in Japan
10.4.3 India
10.4.3.1 Rapid Growth in the Healthcare Industry to Drive the Demand for Laboratory Information System in India
10.4.4 Australia & New Zealand
10.4.4.1 Implementation of Hcit Programs in Australia & New Zealand to Support Market Growth
10.4.5 Rest of Asia Pacific
10.5 Rest of the World
10.5.1 Latin America
10.5.1.1 Rising Awareness of Hcit Solutions to Support Market Growth in Latam Countries Such as Brazil
10.5.2 Middle East & Africa
10.5.2.1 Healthcare Infrastructure Development to Drive Market Growth in the Middle East
11 Competitive Landscape (Page No. - 122)
11.1 Overview
11.1.1 Market Ranking of Players, 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
11.3 Competitive Scenario
11.3.1 Solution Launches
11.3.2 Solution Enhancement
11.3.3 Partnerships, and Agreements
11.3.4 Acquisitions
12 Company Profiles (Page No. - 130)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
12.1 Orchard Software Corporation
12.2 Sunquest Information Systems, Inc. (Acquired By Roper Technologies, Inc.)
12.3 Cerner Corporation
12.4 Computer Programs and Systems, Inc. (CPSI)
12.5 CompuGroup Medical AG
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
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 147)
13.1 Discussion Guide
13.2 Available Customizations
13.3 Related Reports
13.4 Author Details
List of Tables (139 Tables)
Table 1 Laboratory Information System: Market, By Component, 20172024 (USD Million)
Table 2 LIS Services Market, By Region, 20172024 (USD Million)
Table 3 North America: LIS Services Market, By Country, 20172024 (USD Million)
Table 4 Europe: LIS Services Market, By Country, 20172024 (USD Million)
Table 5 Asia Pacific: LIS Services Market, By Country, 20172024 (USD Million)
Table 6 Rest of the World: LIS Services Market, By Region, 20172024 (USD Million)
Table 7 LIS Software Market, By Region, 20172024 (USD Million)
Table 8 North America: LIS Software Market, By Country, 20172024 (USD Million)
Table 9 Europe: LIS Software Market, By Country, 20172024 (USD Million)
Table 10 Asia Pacific: LIS Software Market, By Country, 20172024 (USD Million)
Table 11 Rest of the World: LIS Software Market, By Region, 20172024 (USD Million)
Table 12 Laboratory Information System: Market, By Product, 20172024 (USD Million)
Table 13 Standalone LIS Market, By Region, 20172024 (USD Million)
Table 14 North America: Standalone LIS Market, By Country, 20172024 (USD Million)
Table 15 Europe: Standalone LIS Market, By Country, 20172024 (USD Million)
Table 16 Asia Pacific: Standalone LIS Market, By Country, 20172024 (USD Million)
Table 17 Rest of the World: Standalone LIS Market, By Region, 20172024 (USD Million)
Table 18 Integrated LIS Market, By Region, 20172024 (USD Million)
Table 19 North America: Integrated LIS Market, By Country, 20172024 (USD Million)
Table 20 Europe: Integrated LIS Market, By Country, 20172024 (USD Million)
Table 21 Asia Pacific: Integrated LIS Market, By Country, 20172024 (USD Million)
Table 22 Rest of the World: Integrated LIS Market, By Region, 20172024 (USD Million)
Table 23 Laboratory Information System Market, By Delivery Mode, 20172024 (USD Million)
Table 24 On-Premise LIS Market, By Region, 20172024 (USD Million)
Table 25 North America: On-Premise LIS Market, By Country, 20172024 (USD Million)
Table 26 Europe: On-Premise LIS Market, By Country, 20172024 (USD Million)
Table 27 Asia Pacific: On-Premise LIS Market, By Country, 20172024 (USD Million)
Table 28 Rest of the World: On-Premise LIS Market, By Region, 20172024 (USD Million)
Table 29 Cloud-Based LIS Market, By Region, 20172024 (USD Million)
Table 30 North America: Cloud-Based LIS Market, By Country, 20172024 (USD Million)
Table 31 Europe: Cloud-Based LIS Market, By Country, 20172024 (USD Million)
Table 32 Asia Pacific: Cloud-Based LIS Market, By Country, 20172024 (USD Million)
Table 33 Rest of the World: Cloud-Based LIS Market, By Region, 20172024 (USD Million)
Table 34 Laboratory Information System Market, By End User, 20172024 (USD Million)
Table 35 LIS Market for Hospital Laboratories, By Region, 20172024 (USD Million)
Table 36 North America: LIS Market for Hospital Laboratories, By Country, 20172024 (USD Million)
Table 37 Europe: LIS Market for Hospital Laboratories, By Country, 20172024 (USD Million)
Table 38 Asia Pacific: LIS Market for Hospital Laboratories, By Country, 20172024 (USD Million)
Table 39 Rest of the World: LIS Market for Hospital Laboratories, By Region, 20172024 (USD Million)
Table 40 LIS Market for Independent Laboratories, By Region, 20172024 (USD Million)
Table 41 North America: LIS Market for Independent Laboratories, By Country, 20172024 (USD Million)
Table 42 Europe: LIS Market for Independent Laboratories, By Country, 20172024 (USD Million)
Table 43 Asia Pacific: LIS Market for Independent Laboratories, By Country, 20172024 (USD Million)
Table 44 Rest of the World: LIS Market for Independent Laboratories, By Region, 20172024 (USD Million)
Table 45 LIS Market for Physician Office Laboratories, By Region, 20172024 (USD Million)
Table 46 North America: LIS Market for Physician Office Laboratories, By Country, 20172024 (USD Million)
Table 47 Europe: LIS Market for Physician Office Laboratories, By Country, 20172024 (USD Million)
Table 48 Asia Pacific: LIS Market for Physician Office Laboratories, By Country, 20172024 (USD Million)
Table 49 Rest of the World: LIS Market for Physician Office Laboratories, By Region, 20172024 (USD Million)
Table 50 LIS Market for Other End Users, By Region, 20172024 (USD Million)
Table 51 North America: LIS Market for Other End Users, By Country, 20172024 (USD Million)
Table 52 Europe: LIS Market for Other End Users, By Country, 20172024 (USD Million)
Table 53 Asia Pacific: LIS Market for Other End Users, By Country, 20172024 (USD Million)
Table 54 Rest of the World: LIS Market for Other End Users, By Region, 20172024 (USD Million)
Table 55 Market, By Region, 20172024 (USD Million)
Table 56 North America: Laboratory Information System Market, By Country, 20172024 (USD Million)
Table 57 North America: Laboratory Information System Market, By Product, 20172024 (USD Million)
Table 58 North America: Laboratory Information System Market, By Delivery Mode, 20172024 (USD Million)
Table 59 North America: Laboratory Information System Market, By Component, 20172024 (USD Million)
Table 60 North America: Laboratory Information System Market, By End User, 20172024 (USD Million)
Table 61 US: Laboratory Information System Market, By Product, 20172024 (USD Million)
Table 62 US: Laboratory Information System Market, By Delivery Mode, 20172024 (USD Million)
Table 63 US: Laboratory Information System Market, By Component, 20172024 (USD Million)
Table 64 US: Laboratory Information System Market, By End User, 20172024 (USD Million)
Table 65 Canada: Laboratory Information System Market, By Product, 20172024 (USD Million)
Table 66 Canada: Laboratory Information System Market, By Delivery Mode, 20172024 (USD Million)
Table 67 Canada: Laboratory Information System Market, By Component, 20172024 (USD Million)
Table 68 Canada: Market, By End User, 20172024 (USD Million)
Table 69 Europe: Market, By Country, 20172024 (USD Million)
Table 70 Europe: Market, By Product, 20172024 (USD Million)
Table 71 Europe: Market, By Delivery Mode, 20172024 (USD Million)
Table 72 Europe: Market, By Component, 20172024 (USD Million)
Table 73 Europe: Market, By End User, 20172024 (USD Million)
Table 74 Germany: Market, By Product, 20172024 (USD Million)
Table 75 Germany: Market, By Delivery Mode, 20172024 (USD Million)
Table 76 Germany: Market, By Component, 20172024 (USD Million)
Table 77 Germany: Market, By End User, 20172024 (USD Million)
Table 78 UK: Market, By Product, 20172024 (USD Million)
Table 79 UK: Market, By Delivery Mode, 20172024 (USD Million)
Table 80 UK: Market, By Component, 20172024 (USD Million)
Table 81 UK: Market, By End User, 20172024 (USD Million)
Table 82 France: Market, By Product, 20172024 (USD Million)
Table 83 France: Market, By Delivery Mode, 20172024 (USD Million)
Table 84 France: Market, By Component, 20172024 (USD Million)
Table 85 France: Market, By End User, 20172024 (USD Million)
Table 86 Italy: Market, By Product, 20172024 (USD Million)
Table 87 Italy: Market, By Delivery Mode, 20172024 (USD Million)
Table 88 Italy: Market, By Component, 20172024 (USD Million)
Table 89 Italy: Market, By End User, 20172024 (USD Million)
Table 90 Spain: Market, By Product, 20172024 (USD Million)
Table 91 Spain: Market, By Delivery Mode, 20172024 (USD Million)
Table 92 Spain: Market, By Component, 20172024 (USD Million)
Table 93 Spain: Market, By End User, 20172024 (USD Million)
Table 94 RoE: Market, By Product, 20172024 (USD Million)
Table 95 RoE: Market, By Delivery Mode, 20172024 (USD Million)
Table 96 RoE: Market, By Component, 20172024 (USD Million)
Table 97 RoE: Market, By End User, 20172024 (USD Million)
Table 98 Asia Pacific: Market, By Country, 20172024 (USD Million)
Table 99 Asia Pacific: Market, By Product, 20172024 (USD Million)
Table 100 Asia Pacific: Market, By Delivery Mode, 20172024 (USD Million)
Table 101 Asia Pacific: Market, By Component, 20172024 (USD Million)
Table 102 Asia Pacific: Market, By End User, 20172024 (USD Million)
Table 103 China: Market, By Product, 20172024 (USD Million)
Table 104 China: Market, By Delivery Mode, 20172024 (USD Million)
Table 105 China: Market, By Component, 20172024 (USD Million)
Table 106 China: Market, By End User, 20172024 (USD Million)
Table 107 Japan: Market, By Product, 20172024 (USD Million)
Table 108 Japan: Market, By Delivery Mode, 20172024 (USD Million)
Table 109 Japan: Market, By Component, 20172024 (USD Million)
Table 110 Japan: Market, By End User, 20172024 (USD Million)
Table 111 India: Market, By Product, 20172024 (USD Million)
Table 112 India: Market, By Delivery Mode, 20172024 (USD Million)
Table 113 India: Market, By Component, 20172024 (USD Million)
Table 114 India: Market, By End User, 20172024 (USD Million)
Table 115 Australia & New Zealand: Market, By Product, 20172024 (USD Million)
Table 116 Australia & New Zealand: Market, By Delivery Mode, 20172024 (USD Million)
Table 117 Australia & New Zealand: Market, By Component, 20172024 (USD Million)
Table 118 Australia & New Zealand: Market, By End User, 20172024 (USD Million)
Table 119 RoAPAC: Market, By Product, 20172024 (USD Million)
Table 120 RoAPAC: Market, By Delivery Mode, 20172024 (USD Million)
Table 121 RoAPAC: Market, By Component, 20172024 (USD Million)
Table 122 RoAPAC: Market, By End User, 20172024 (USD Million)
Table 123 Rest of the World: Market, By Region, 20172024 (USD Million)
Table 124 Rest of the World: Market, By Product, 20172024 (USD Million)
Table 125 Rest of the World: Market, By Delivery Mode, 20172024 (USD Million)
Table 126 Rest of the World: Market, By Component, 20172024 (USD Million)
Table 127 Rest of the World: Market, By End User, 20172024 (USD Million)
Table 128 Latin America: Market, By Product, 20172024 (USD Million)
Table 129 Latin America: Market, By Delivery Mode, 20172024 (USD Million)
Table 130 Latin America: Market, By Component, 20172024 (USD Million)
Table 131 Latin America: Market, By End User, 20172024 (USD Million)
Table 132 Middle East & Africa: Market, By Product, 20172024 (USD Million)
Table 133 Middle East and Africa: Market, By Delivery Mode, 20172024 (USD Million)
Table 134 Middle East and Africa: Market, By Component, 20172024 (USD Million)
Table 135 Middle East and Africa: Market, By End User, 20172024 (USD Million)
Table 136 Solution Launches
Table 137 Solution Enhancement
Table 138 Partnerships and Agreements
Table 139 Acquisitions
List of Figures (27 Figures)
Figure 1 Research Methodology: Laboratory Information System
Figure 2 Research Design
Figure 3 Primary Research
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Laboratory Information System Market Share, By Delivery Mode, 2018
Figure 8 Laboratory Information System Market Share, By End User, 2018
Figure 9 Laboratory Information System Market Share, By Component, 2018
Figure 10 Geographic Snapshot of the Laboratory Information Systems Market
Figure 11 Increasing Need for Laboratory Automation to Drive Market Growth During the Forecast Period
Figure 12 On-Premise LIS Accounted for the Largest Share of the North American Market in 2018
Figure 13 Services and On-Premise LIS Accounted for the Largest Share in 2018
Figure 14 Asia Pacific to Witness the Highest Growth During the Forecast Period
Figure 15 Laboratory Information Systems Market: Drivers, Restraints, Opportunities, and Challenges
Figure 16 North America Dominated the LIS Market in 2018
Figure 17 North America: Laboratory Information Systems Market Snapshot
Figure 18 Europe: Laboratory Information Systems Market Snapshot
Figure 19 Asia Pacific: Laboratory Information Systems Market Snapshot
Figure 20 RoW: Laboratory Information Systems Market Snapshot
Figure 21 Key Developments in the Laboratory Information Systems Market Between 2016 and 2019
Figure 22 Laboratory Information Systems Market Ranking, By Key Player (2018)
Figure 23 Laboratory Information Systems Market, Competitive Leadership Mapping, 2018
Figure 24 Roper Technologies, Inc.: Company Snapshot
Figure 25 Cerner Corporation: Company Snapshot
Figure 26 Computer Programs and Systems, Inc.: Company Snapshot
Figure 27 CompuGroup Medical AG: Company Snapshot
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:
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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 industrys 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 sizeusing the market size estimation processes as explained abovethe 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
Report Scope
|
Report Metric |
Details |
|
Market Size Available for Years |
20172024 |
|
Base Year Considered |
2018 |
|
Forecast Period |
20192024 |
|
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 laboratory information system 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
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys 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)
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Laboratory Information System (LIS) Market
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Growth opportunities and latent adjacency in Laboratory Information System (LIS) Market