The global laboratory information systems market is projected to reach USD 4.0 billion by 2028 from USD 2.4 billion in 2023, at a CAGR of 10.8% during the forecast period. Growth in this market is predominantly driven by the need for laboratory automation and the development of integrated laboratory information systems. However, a lack of integration standards is expected to hamper the growth of this market during the forecast period to a certain extent.
Prominent market players in the laboratory information systems market include Orchard Software Corporation (US), Clinisys (US), Oracle Corporation (US), Computer Programs and Systems, Inc. (US), CompuGroup Medical (Germany), Soft Computer Consultants, Inc. (US), American Soft. Solutions Corp. (US), Epic Systems Corporation (US), Altera Digital Health (US), Aspyra (US), Comp Pro Med Inc. (US), Computer Service & Support, Inc. (US), Clinical Software Solutions (US), GPI S.p.A. (Italy), LigoLab Information Systems (US), LabWare (US), LabVantage Solutions, Inc. (US), XiFin, Inc. (US), Seacoast Laboratory Data Systems (US), Veradigm LLC (US), WebPathLab (US), Apex Healthware (US), TECHNIDATA (France), Pathagility (US), HEX Laboratory Systems (US), Clinsis (Nicaragua), Alphasoft (Germany), and Dendi, Inc. (US).
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Orchard Software Corporation develops healthcare software solutions and LIS for hospitals, laboratories, clinics, physician office laboratories, and research laboratories. The adaptable and expandable laboratory information systems efficiently manage, store, and maintain clinical information of patients for future reference. They streamline the workflow and ensure quality control of medical testing across various areas such as chemistry, microbiology, hematology, toxicology, public health, immunology, and more, both for inpatient and outpatient settings. The company caters to more than 2,100 laboratories across the US and Canada to help them improve efficiency, minimize errors, and enhance integration. The company offers its cloud-based solutions to a wide range of healthcare facilities, including all types and sizes of multi-site & multi-specialty clinics and physician laboratories, hospitals, regional reference labs, fertility clinics, independent reference labs, veterinary labs, student health services, research laboratories, pain management clinics, public health organizations, universities, and retail facilities. As part of its organic growth strategies, the organization focuses on product innovations to gain an advantage over its competitors. For instance, In January 2023, Orchard Software Corporation announced the release of its new Enterprise Toxicology solution, which aimed to enhance patient care in toxicology laboratories by providing information system tools.
CompuGroup Medical (CGM) provides eHealth solutions to healthcare providers, pharmacies, community clinics, general practitioners, medical laboratories, and hospitals. In addition, the company offers products and services that serve as links between healthcare payers, healthcare providers, pharmaceutical companies, and patients. The company offers a comprehensive range of products, services, and solutions, including electronic health records (EHRs), laboratory information systems (LIS) and laboratory management solutions, practice management solutions, telehealth, RCM Services & Reimbursements, and patient engagement tools.
CompuGroup Medical operates through four business segments—Ambulatory Information Systems (AIS), Pharmacy Information Systems (PCS), Hospital Information Systems (HIS), and Consumer & Health Management Information Systems (CHS). AIS is focused on practice management software and EMRs for office-based physicians, dentists, and medical care centers. PCS is focused on integrated clinical, financial, and administrative software applications for retail pharmacies. HIS is focused on clinical and administrative solutions for inpatient care. CHS is focused on customers that are outside the healthcare providers in the other three segments. The company has offices in 20 countries worldwide and customers in 60 countries across Europe, Africa, Asia, Canada, and the US. The company focuses on expanding its product offerings, both organically and through strategic acquisitions. In November 2022, CompuGroup Medical acquired Medicus LIS, a known and trusted brand, for more than 15 years of developing laboratory management software for medical laboratories within the non-acute US market.
Laboratory Information System (LIS) Market by Product (Standalone, Integrated), Component (Services, Software), Delivery Mode (On-premise & Cloud-based), End User (Hospital Laboratories, Independent Laboratories, POLs) and Region - Global Forecast to 2028
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