Research Nester published a report titled “Laboratory Information Systems Market: Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global laboratory information systems services market in terms of market segmentation by product, component, delivery mode, end-user, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global laboratory information systems market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e. 2023-2033. The market is segmented by delivery mode into cloud based, and premises. Out of these, cloud based segment captured the largest market share of 64% in the year 2022. The segment growth is attributed to the ease of accessing data from multiple locations, multiple systems, and multiple branches from a single point of access

The global laboratory information systems market is estimated to garner revenue of ~USD 5362.8 Million by the end of 2033, up from a revenue of ~USD 2300 Million in 2022. Owing to increment of chronic diseases, there has been a significant rise in automation in laboratories. The technological advancements in laboratory information systems, need for regulatory compliance, and increase in R&D spending are the key drivers of the global laboratory information systems market. Further, the surge in demand for managing laboratory data via cloud-based solutions is also a significant factor propelling the global market. The installation of laboratory information systems in the hospital labs and other areas have constantly been performing diagnostics faster, with reduced turnaround times.

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Geographically, the global laboratory information systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in North America region held the largest market share of 36% in the year 2022, on the back of increased rate of chronic diseases, growing geriatric diseases, expansion in national health expenditure, and considerable growth in GDP.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

Rise in Healthcare Expenditure to Drive the Market Growth

The increased demand for laboratory information system (LIS) is owing to the increase in lab automation and advancements in R&Ds labs in pharmaceutical and biotechnological laboratories. The adoption of lab automation significantly reduces human errors while performing repetitive tasks such as pipetting and moving plates. It also improves accuracy. Furthermore, high efficiency of laboratory informatics products is propelling the laboratory information systems (LIS) market.

However, high cost associated with the implementation of the laboratory management systems, coupled with low adoption rate and less technological advancements in the developing countries is expected to operate as key restraints to the growth of the global laboratory information systems market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global laboratory information systems market which includes company profiling of CliniSys Group, Allscripts Healthcare, LLC, Orchard Software Corporation, CompuGroup Medical SE & Co. KGaA, LabVantage Solutions, Thermo Fisher Scientific Holdings, Inc., STARLIMS CORPORATION, PROLIS, Medical Information Technology, Inc., Epic Systems Corporation and more. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global laboratory information systems market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.     

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