Global Laboratory Information Systems Market (2021 to 2030) – With Cerner, McKesson, and Merge Healthcare, among others –


DUBLIN – (COMMERCIAL THREAD)–The “Global Laboratory Information Systems Market Report 2021: Growth and Change of COVID-19 to 2030” the report was added to offer.

This report equips strategists, marketers, and senior management with the essential information they need to assess the global Laboratory Information Systems market.

The global laboratory information systems market is expected to grow from $ 1.59 billion in 2020 to $ 1.72 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 2.88 billion in 2025 at a CAGR of 14%.

Companies mentioned

  • Cerner Corporation

  • McKesson Company

  • Epic Corporation Inc

  • Medical Information Technology Inc

  • SCC Soft Computer

  • Sunquest Information Systems Inc

  • CompuGroup Medical AG

  • Computer programs and systems inc

  • Merge Health Inc

  • Orchard Software Corporation

  • Abbott Laboratories

  • LabWare

  • Thermo Fisher Scientific

  • LigoLab LLC

Reasons to purchase

  • Get a truly global perspective with the most comprehensive report available on this market covering over 12 geographies.

  • Understand how the market is affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.

  • Create regional and national strategies based on local data and analyzes.

  • Identify growth segments for investment.

  • Outperform your competition using forecast data and the drivers and trends that shape the market.

  • Understand customers based on the latest market research findings.

  • Compare performance to your main competitors.

  • Use the relationships between key data sets for a better strategy.

  • Suitable for supporting your internal and external presentations with high quality reliable data and analysis

The Laboratory Information Systems market covered in this report is segmented by Product to Standalone LIS, Integrated LIS, and by End User to Hospital Laboratories, Independent Laboratories, Doctor’s Office Laboratories, Others.

The high costs associated with implementing and maintaining laboratory information systems are expected to limit the growth of the laboratory information systems market. The cost of a laboratory information system ranges from $ 4,000 to $ 100,000, with an additional annual operating cost of $ 1,000 to $ 5,000. Operating costs include the costs of software licensing, training of nursing staff, maintenance and service. Laboratories may opt for the lower cost version because of the high cost of software even when the requirement is for a higher cost version to reduce the lab load, causing operational instability. Hence, the high cost of a laboratory information system is expected to hamper the market.

The growing demand for laboratory automation is a major factor in the growth of the laboratory information systems market. An increasing number of people undergo a series of tests, which increases the workload of laboratories. Clinical labs hire more healthcare staff to reduce the workload of existing staff and minimize the number of errors associated with it in order to increase the efficiency and effectiveness of lab operations for accurate results. According to the Bureau of Labor Statistics, approximately 12,000 additional clinical laboratory professionals are needed each year to meet demand, however, only half of the number enter the field. Thus, laboratories opt for automation to facilitate the work. For example, TriCore Reference Laboratories in Albuquerque, Mexico, introduced automation in its 20% of instrumentation, which runs nearly 80% of the lab’s samples and displays, helping the lab manage and optimize its functions for faster and more precise results.

Cloud-based laboratory information system is expected to become the dominant trend in the laboratory information systems market. Cloud computing is associated with the sharing of computing resources and services, including storage and servers over the Internet for reduced cost, increased speed, productivity and system security in the network. The cloud system in laboratory information systems offers various advantages such as cost efficiency, better results and progress without space constraint. For example, the APEX laboratory information system from Apex HealthWare, LLC, Arxspan Laboratory Software? by Bruker Software Solutions, Orchard Laboratory Information System by Orchard Software Corporation are cloud-based systems that improve efficiency, reduce errors and improve patient care. Thus, a cloud-based laboratory information system is expected to gain popularity in the laboratory information systems market.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.

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