The global laboratory information systems (LIS) market is projected to reach USD 2.4 billion by 2026 from USD 1.5 billion in 2021, at a CAGR of 9.0% during the forecast period. A laboratory information system (LIS) is a software solution that handles the receiving, processing, and storage of information generated by laboratories. Growth in the LIS market can be primarily attributed to the rising prevalence of chronic diseases, the need for laboratory automation & increased lab efficiency, and the development of integrated LIS. The surge in demand for personalized medicine and the growing popularity of cloud-based LIS is expected to provide significant opportunities to the market players, especially in emerging economies. However, high maintenance and service costs, the requirement of specialized laboratory units, interfacing issues, and a dearth of skilled professionals are likely to challenge market growth in the coming years.
Some of the prominent players operating in the laboratory information systems (LIS) 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.
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TOP LABORATORY INFORMATION SYSTEMS (LIS) MARKET PLAYER
Orchard Software Corporation is one of the prominent players in the laboratory information systems market. It offers the Orchard Harvest and Orchard Enterprise Lab Solution. The company adopted various inorganic and organic growth strategies such as product launches and acquisitions to maintain and enhance its market share. The company has deployed more than 150 solutions at hospitals, independent labs, clinics, and other sites in the US. Orchard has a strategic focus on growing emerging markets, such as the Asia Pacific and the Middle East.
Sunquest Information Systems is a publicly held company. Its dominant position can be attributed to its range of laboratory solutions, including Sunquest Laboratory, Sunquest PowerPath, and Sunquest Blood Bank. The company focuses on product deployments and acquisitions to expand its business operations. The company has deployed around 100 solutions across various settings to expand its end user base.
Cerner Corporation is another prominent player in the LIS market. The company’s dominant position can be attributed to its suite of laboratory solutions. Its strong foothold in this market can be attributed to its focus on acquisitions and partnerships with government and private institutes. For example, between 2019 and 2021, the company collaborated with various healthcare organizations in the US, such as Xealth (US) and Tenet Healthcare Corporation (US).
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
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