Growing Demand for Integrated Laboratory Operations to Boost the Growth of Laboratory Information Systems Market


 Laboratory information systems (LIS) are software solutions that enable healthcare organizations to manage and store patient data, test results and book workflows. They help laboratories reduce errors, improve turnaround time and allow for better traceability and compliance with regulations.


Market key trends:
One of the key trends in the laboratory information systems market is the growing integration of LIS with other hospital information systems. This enables seamless exchange of patient data between different departments and streamlines diagnostic workflows. Many vendors are offering integrated solutions that connect LIS with electronic health records (EHR), picture archiving and communication systems (PACS) and radiology information systems (RIS) for efficient data sharing. This trend is being driven by the need for healthcare organizations to offer digitized and connected care. The global Laboratory Information Systems Market is estimated to be valued at US$ 2.4 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Segment Analysis

The global laboratory information systems market is segmented by product and service, component, delivery mode, end-user, and region. Based on product and service, the services segment held the largest share of more than 60% in 2022 owing to the growing demand for installation, training, software upgrades, and maintenance services along with laboratory information systems. On the basis of component, the software segment dominated the market in 2022 due to technological advancements resulting in development of specialised software for varied applications in clinical laboratories.

Key Takeaways

The global laboratory information systems market is expected to witness high growth, exhibiting CAGR of 10.% over the forecast period, due to increasing demand for automation of laboratory processes and integration of laboratory information systems with other hospital information systems.

Regional analysis - North America dominated the market with a share of over 35% in 2022 owing to presence of key players, developed healthcare infrastructure, and stringent regulatory guidelines regarding use of laboratory information systems for effective management of laboratory processes in the region. The Asia Pacific region is expected to grow at the fastest CAGR during the forecast period due to growing healthcare expenditure, increasing number of hospitals adopting laboratory automation, and rising disease burden.

Key players analysis - Key players operating in the laboratory information systems market are Orchard Software Corporation (US), Clinisys (US), Oracle Corporation (US), Computer Programs and Systems, Inc. (US), and CompuGroup Medical (Germany) among others. The key players are focusing on new product launches, partnerships, and geographic expansions to increase their market share and meet the growing demand for laboratory information systems. For instance, in 2021, Orchard Software Corporation launched its newest software Orchard IQ to bring intelligence to routine healthcare tasks through machine learning and data analysis.

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