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.
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On the basis of products, the laboratory information systems market is segmented into standalone LIS and integrated LIS solutions. The standalone LIS segment is estimated to account for the largest share of the global laboratory information systems market in 2016. The ability of standalone LIS to work offline as they are not part of any software package, better affordability, enhanced data security, and user-friendly nature as compared to an integrated network are factors responsible for their higher implementation.
North America to dominate the market in 2016
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is estimated to account for the largest share of the global laboratory information system (LIS) market, followed by Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market is slated to grow at the highest CAGR and serve as a revenue pocket for companies offering laboratory information system (LIS).
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Prominent players in the global laboratory information system (LIS) market are
- Cerner Corporation (U.S.),
- McKesson Corporation (U.S.),
- Epic Corporation Inc. (U.S.),
- Medical Information Technology, Inc. (U.S.),
- SCC Soft Computer (U.S.),
- Sunquest Information Systems, Inc. (U.S.),
- CompuGroup Medical AG (Germany),
- Computer Programs and Systems, Inc. (U.S.), ETC
