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Laboratory Information System Market COVID-19 pandemic had shown some unexpected results. A study published in the Journal of the American Medical Informatics Association in August 2020 revealed that the implementation of laboratory information systems has enabled the Belgium national reference testing center to carry out over 25,000 COVID PCR tests in parallel to standard routine testing. Companies have responded by launching laboratory informatics specifically designed for COVID-19 testing. For instance, LabVantage’s COVID-19 LIMS is a powerful, adaptable, and user-friendly system that can be easily modified to meet the increasing demand for diagnostic testing in PHLs and can also handle workflows for other types of testing.
Data Bridge Market Research analyses that the laboratory information systems (LIS) market, which was USD 2.01 billion in 2022, is expected to reach USD 3.86 billion by 2030, at a CAGR of 8.50% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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The laboratory information system (LIS) is a software system used to manage, record, and store data for clinical laboratories. This system streamlines the process of sending lab test orders to lab instruments and tracks and records results in a searchable database. It is widely used in hospitals, clinics, independent laboratories, and other healthcare facilities for data monitoring and management, data quality tracking, security, and end-user billing.
Drivers
Growing demand for laboratory automation will drive the market growth
The laboratory information system (LIS) market is experiencing growth due to the increasing demand for lab automation and advancements in R&D labs, particularly in pharmaceutical and biotechnological labs. Moreover, the high precision and efficiency outcomes of laboratory informatics products are also contributing to the market’s expansion. Astrix Technologies LLC, a professional healthcare IT service provider, conducted a survey in 2020, which revealed that 61% of Laboratory Information Management System (LIMS) users benefited from the elimination of manual operations, 57% improved their sample management approach, and 46% observed a substantial increase in productivity within their laboratory environment.
Growing technological advancements associated with laboratory informatics is bolstering the market growth
The laboratory informatics market has seen a surge in growth due to technological advancements that have allowed healthcare providers and scientists to prepare samples and perform diagnoses with greater precision, accuracy, and a reduced risk of errors. An example of this is LabVantage Solutions, Inc., a leading provider of laboratory informatics solutions and services, which launched LabVantage Analytics in March 2021. This software solution includes purpose-built LIS solutions that enable laboratories to launch faster and at a lower overall cost.
Recent Developments
- In 2022, Roche Diagnostics China partnered with Sanomede Medical Technology Co., Ltd. to release RS600 Lab Automation Software in the Chinese market in February.
- In 2022, Biosero, Inc., a subsidiary of BICO, introduced new products and features to its Green Button Go software suite, which provides customers with advanced capabilities to optimize their automated laboratory systems, streamline processes, and achieve better results.
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Some of the major players operating in the laboratory information systems (LIS) market are:
- Thermo Fisher Scientific Inc. (U.S.)
- PerkinElmer Inc. (U.S.)
- Autoscribe Informatics (U.S.)
- Novatek International (Russia)
- Benchling (U.S.)
- Agaram Technologies Pvt Ltd (India)
- Agilent Technologies, Inc. (U.S.)
- LabWare (U.S.)
- STARLIMS Corporation (U.S.)
- IBM Corporation (U.S.)
- Roper Technologies, Inc (U.S.)
- Eusoft Ltd. (China)
- Illumina, Inc. (U.S.)
- McKesson Corporation (U.S.)
- Infors AG (U.S.)
- Siemens (Germany)
- Zoho Corporation Pvt. Ltd. (India)
- LabVantage Solutions Inc (U.S.)
- Shimadzu Corporation (Japan)
Laboratory Information Systems (LIS) Market Scope
Product
- Standalone
- Integrated
Type
- Clinical
- Anatomical
Components
- Services
- Software
Delivery Mode
- Cloud-Based
- On-Premises
End Use
- Hospitals
- Clinics
- Anatomical Pathology Laboratories
- Blood Banks
- Molecular Diagnostic Laboratories
- Others
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