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The laboratory information system market is forecasted to achieve significant growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 8%, as per The Business Research Company’s market report!

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The Laboratory Information System Market Size In 2022 And Forecast

The global laboratory information system market is expected to grow from $1.96 billion in 2021 to $2.24 billion in 2022 at a compound annual growth rate (CAGR) of 14.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The laboratory information system market is expected to reach $3.07 billion in 2026 at a CAGR of 8.2%.

The laboratory information system market consists of revenue generated by the companies offering laboratory information system software products and related services.

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The Rising Demand For Lab Automation Is Driving The Growth Of The Laboratory Information System Market

According to the Bureau of Labour Statistics, around 12,000 additional clinical laboratory professionals are required every year to meet the demand, however, only half of the number is entering the field. Thus, laboratories opt for automation to ease the work. For instance, TriCore Reference Laboratories in Albuquerque, Mexico, introduced automation in its 20% of instrumentation, which performs almost 80% of the lab’s samples and displays helping the lab in managing and optimizing its functions for faster and accurate results.

Competitive Landscape And The Regional Analysis Of The Laboratory Information System Market

Major players in the laboratory information system market are Cerner Corporation, McKesson Corporation, Epic Corporation Inc, Medical Information Technology Inc, SCC Soft Computer, Sunquest Information Systems Inc, CompuGroup Medical AG, Computer Programs and Systems Inc, Merge Healthcare Inc and Orchard Software Corporation.

The Laboratory Information System Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the laboratory information system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the laboratory information system market.

Cloud-Based Laboratory Information System – A Key Trend In The Laboratory Information System Market

Cloud computing is associated with the sharing of computer resources and services including storage and servers over the internet for a reduced cost, increased speed, productivity, and security of the system in the network. The cloud system in laboratory information systems offers various advantages such as cost-efficiency, better results, and progress without space constrain.

Laboratory Information System Market Segmentation By The Business Research Company

1) By Product: Standalone LIS, Integrated LIS

2) By End User: Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, Others

3) By Component: Software, Services

Here Are Some Reports Related To The Laboratory Information System Market –

Laboratory Centrifuge Global Market Report 2022

Laboratory Automation Systems Global Market Report 2022

Healthcare Services Global Market Report 2022

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