The global laboratory information system market is expected to reach USD 2,122.8 million by 2021 from USD 1,370.2 million in 2016, growing at a CAGR of 9.1% from 2016 to 2021. Rising chronic disease prevalence, utilization of laboratory information system (LIS) for enhancing laboratory workflow efficiency, and increasing government and industry player’s initiatives into the laboratory services are key factors driving the growth of this market.

A laboratory information system (LIS) is a software system that records, manages, and stores data for clinical laboratories. LIS has traditionally been most adept at sending laboratory test orders to lab instruments, tracking those orders, and then recording the results, typically to a searchable database.

The global laboratory information system market is segmented on the basis of product, into standalone LIS and integrated LIS systems. The standalone LIS segment is estimated to account for the largest share of the global laboratory information system (LIS) market in 2016. Integrated LIS segment is projected to grow at the highest CAGR during the forecast period. This growth is attributed to the reduction of the separate maintenance and service cost of LIS solutions.

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The global LIS market in North America is expected to account for the largest share of the market in 2016. The large share of the North American region can be attributed to the rising chronic disease prevalence and increasing initiatives by industry players and government in field of healthcare IT. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.