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What Are the Primary Drivers Supporting the Market Growth of theLaboratory Information System Market?

The laboratory information system market is expanding due to the growing demand for lab automation. As the number of tests increases, laboratories are facing higher workloads, which prompts them to adopt automation solutions to enhance efficiency and accuracy. According to the Bureau of Labor Statistics, the demand for clinical laboratory professionals is on the rise, but only half of the required professionals are entering the field. For example, TriCore Reference Laboratories in Albuquerque implemented automation in 20% of their instruments, which handles about 80% of the lab’s samples, thus improving the lab’s performance.

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#How Does the ProjectedLaboratory Information System Market Growth Compare Over the Forecast Period?

The laboratory information system market has grown strongly in recent years. It will grow from $2.57 billion in 2024 to $2.75 billion in 2025, at a CAGR of 7.0%. This growth is attributed to technological advancements, growing healthcare services demand, data management and integration, and quality assurance and reporting.

The laboratory information system market is expected to grow rapidly, reaching $4.29 billion by 2029 at a CAGR of 11.8%. This growth is driven by the digital transformation of healthcare, the rise of personalized medicine, the adoption of AI and machine learning, and the increased use of point-of-care testing (POCT). Key trends include integration with electronic health records (EHR), cloud-based LIS, enhanced data security and privacy, and laboratory automation.

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What New Market Trends Are Reshaping theLaboratory Information System Market and Its Opportunities?

Cloud-based laboratory information systems are becoming increasingly popular in the laboratory information systems market due to their cost-efficiency, speed, and security benefits. These systems improve patient care, reduce errors, and enhance overall efficiency. Examples include APEX Laboratory Information System by Apex HealthWare and Orchard Software’s laboratory information system, which are cloud-based solutions gaining traction in the market.

Who Are the Major Industry Players Accelerating Growth in theLaboratory Information System Market?

Major companies operating in the laboratory information system market include Cerner Corporation, McKesson Corporation, Epic Corporation Inc., Medical Information Technology Inc., SCC Soft Computer Inc., Sunquest Information Systems Inc., CompuGroup Medical AG, Computer Programs and Systems Inc., Merge Healthcare Inc., Orchard Software Corporation, Abbott Laboratories, LabWare Inc., Thermo Fisher Scientific Inc., LigoLab LLC, Clinisys Group Ltd., Labvantage Solutions Inc., Labgen LIS, Polytech LIS, Avalon GloboCare Corp, NovoPath Inc., LABTRACK LIMS, Dendi Inc., Agilent Technologies Inc., QA Studio, Cirdan Imaging Ltd., Ovation Services Private Ltd., BioData Inc., Technidata AG, Psyche Systems Corporation, Data Innovations LLC

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Which Primary Segments of the Laboratory Information System Market Are Driving Growth and Industry Transformations?

The laboratory information system market covered in this report is segmented –

1) By Product: Standalone LIS, Integrated LIS

2) By Component: Software, Services

3) By End User: Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, Other End Users

Subsegments:

1) By Standalone LIS: On-premise Standalone LIS, Cloud-based Standalone LIS

2) By Integrated LIS: Laboratory And Hospital Information System (LIS-HIS) Integration, Laboratory And Electronic Health Records (LIS-EHR) Integration

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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theLaboratory Information System Market?# Market?

North America was the largest region in the healthcare services market in 2023. Western Europe was the second largest region in the healthcare services market. The regions covered in the laboratory information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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