Global Laboratory Information System Market is expected to reach $1.89 bn by 2021

According to the report “Laboratory Information Systems”, published by Market Data Forecast, the global market is projected to reach USD 1.89 Billion by 2021, at a CAGR of 8.8% from 2016 to 2021.

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A Laboratory information system is a complex system designed for data and information management related to medical laboratories which include analytical and clinical laboratories. This includes research and development labs, quality assurance labs and in-process testing labs. The information is stored in the LIS database for any future references. Laboratory information system helps in providing the information regarding diagnosis, treatment, prevention management of the disease. By the implementation of automation in laboratories, the process can be made more productive by minimizing the non-value adding steps which includes centrifugation, sorting tubes and prepping and sorting material for storage. 

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The growth of the market is driven by a host of factors that include need to enhance the workforce efficiency of clinical laboratories, increased demand for quality diagnosis with reduced errors and rising integration of information systems in laboratory. The market is also aided by the increasing chronic infection diseases, increase in per capita expenditure on healthcare and advancements in healthcare IT solutions. However, the growth of the market is hampered by a few factors that include high costs involved in laboratory information systems and lack of skilled healthcare professionals in IT sector. 

The global laboratory information system market is segmented on the based on the component, end-users and delivery mode.

Based on Components
•Software
•Hardware
•Services

Based on End-Users
•Hospitals
•Independent Laboratories
•Clinical Laboratories
•Others

Based on Delivery mode
•Cloud bases
•On-Premise

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The major companies in the laboratory information system market includes Cerner Corporation, SCC Soft Computer, McKesson, Medical Information technology, Evident, Compugroup Medical, Epic system corporation, Sunquest Information Systems and Labware. 

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