The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s laboratory information system market report forecasts the laboratory information system market size to grow to $3.41 Billion by 2027, with a CAGR (compound annual growth rate) of almost 9%.

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Laboratory Information System Market Size Forecast
The global laboratory information system market is expected to grow from $2.24 billion in 2022 to $2.42 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. 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, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global laboratory information system market size is expected to grow to $3.41 billion in 2027 at a CAGR of 8.9%.

North America held the largest laboratory information system market share.

Key Laboratory Information System Market Driver ­– Rise In Demand For Lab Automation
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.

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Key Laboratory Information System Market Trend – Adopting Cloud-Based Laboratory Information System
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. For instance, APEX laboratory information system by Apex HealthWare, LLC., Arxspan Laboratory Software? by Bruker Software Solutions, Orchard laboratory information system by Orchard Software Corporation are cloud-based systems, which improve efficiency, reduce errors, and enhance patient care. Thus, a cloud-based laboratory information system is expected to gain significant traction in the laboratory information system market.

Laboratory Information System Market Segment
1) By Product: Standalone LIS, Integrated LIS
2) By End User: Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, Other End Users
3) By Component: Software, Services

Laboratory Information System Market Major Players and Strategies
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.

In January 2022, CliniSys, a US-based informatics software company, acquired HORIZON Lab Systems and combined it with Sunquest Information Systems for an undisclosed amount. The acquisition aimed to make CliniSys the largest company in the world devoted to diagnostic and laboratory informatics. HORIZON Lab Systems is a US-based company specialized in laboratory information management systems. Sunquest Information Systems Inc. is a US-based developer of medical laboratory and diagnostic information solutions.

The Laboratory Information System Global Market Report 2023 covers regional data on laboratory information system market size, laboratory information system market trends and drivers, opportunities, strategies, and laboratory information system market competitor analysis. 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, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

A laboratory information system (LIS) is a computer system that assists in managing many aspects of a medical laboratory, including the input, processing, and storage of information and data.

View More Reports Related To The Laboratory Information System Market –
Hospital Information System Global Market Report 2023
Laboratory Automation Systems Global Market Report 2023
Laboratory Mixer Global Market Report 2023

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