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Laboratory Information Systems (LIS) - Global Market Trajectory & Analytics

  • ID: 4805643
  • Report
  • September 2020
  • Region: Global
  • 456 pages
  • Global Industry Analysts, Inc
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The global market for Laboratory Information System (LIS) is forecast to reach US$2. 4 billion by 2025, driven by mounting work overload in clinical laboratories against a backdrop of a heavily burdened healthcare system. Factors influencing the growth of clinical laboratory workload include rise in the number of patients; increase in number of testing per patient; and increased frequency & rapid spread of epidemics. The age of epidemics is here with infectious diseases, especially zoonotic diseases expected to emerge and re-emerge as globalization and growing population encroach into wild animal environments & habitats. Laboratory diagnosis is an essential element of communicable disease surveillance & epidemic management. LIS, in this regard, helps in making labs more efficient & productive by automating sample handling; reducing time spent on processes; auto-authorization of reports; elimination of human error; reduced costs; and easy scalability of operations. Functionality of LIS today is much beyond the original sample management purpose. An LIS today does assay data management, data analysis, data mining and also ELN (Electronic Laboratory Notebook) integration. Different vendors offer different LISs depending on industry needs. There are different systems for clinical labs, R&D labs and labs in the food & beverage industry. There are also different deployment types for LIS- remote, cloud and on-premise. On-premise LIS is purchased, installed and operated on servers owned by labs themselves. They are located on actual site in the laboratory. There are however, disadvantages associated with on-premise software solutions. Deploying and managing one is expensive and time-consuming. The solutions also place strain on seamless sharing of data (scalability potential). A cloud solution or a cloud SaaS model enables users to subscribe to one without having to own a system permanently for LIS. Cloud SaaS LIS requires only secure connection for making the license work. Complete support for lab information management is provided by the SaaS vendor. In a remotely hosted LIS, the software is deployed and hosted at a data center. Users are relieved of IT infrastructure management tasks.

An LIS in order to be effective must be capable of tracking and managing samples, reports and queries and create sufficient visibility among different laboratory equipment as well as inventory. These are the basic functionalities of an LIS and any other capability would be bonus. These can include ERP, advanced data analysis capability and any other functionality that is industry-specific. The basic functions/ features of an LIS however are sample management, workflow management, inventory management and reporting. With LIS, risks of contamination, mislabeling, and misplacement are reduced. An LIS automates and streamlines laboratory workflows. It assigns tests and tasks to researchers and defines and standardizes workflow processes. Essential points of testing, at all stages of workflow, are created by an LIS. Inventory management is another key functionality of LIS. Lab personnel are required to track samples accurately. Not just samples, but also instruments used in the labs must be accurately tracked. Use of manual resources for managing inventory can prove to be expensive. LIS fully automates the process and is comparatively cheaper. Another important benefit with LIS is its ability of reporting. The system can automate, maintain and dispose test reports in a timely manner.

Competitors identified in this market include, among others:
  • Orchard Software Corporation
  • Sunquest Information Systems, Inc.
  • Cerner Corporation
  • CompuGroup Medical AG
  • Meditech
  • SCC Soft Computer.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • A Prelude to Laboratory Information Systems (LIS)
  • Functions of an Effective LIS
  • Global Laboratory Information Systems Market to Witness Rapid Growth
  • Standalone LIS Holds Major Share
  • Services Segment Dominates the LIS Market, Software to Witness Higher Growth during the Forecast Period
  • On-Premise LIS Holds Major Share Due to Customization Benefits
  • Cloud-based LIS Model to Grow in Prominence due to Many Benefits Offered over Traditional, On-Premise Models
  • US Holds Clear Edge over Other Regions, Asia-Pacific to Exhibit Fastest Growth
  • Artificial Intelligence: The Future of LIMS
  • RECENT MARKET ACTIVITY
2. FOCUS ON SELECT PLAYERS
  • Orchard Software Corporation (US)
  • Sunquest Information Systems, Inc. (US)
  • Cerner Corporation (US)
  • CompuGroup Medical AG (Germany)
  • Meditech (US)
  • SCC Soft Computer (US)
3. MARKET TRENDS & DRIVERS
  • Burgeoning Population and Rising Incidence of Chronic Diseases – A Key Market Driver for LIS
  • Fatalities by Heart Conditions - Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Worldwide Cancer Incidence: Number of New Cancer Cases Diagnosed for 2012, 2018 & 2040
  • Number of New Cancer Cases Reported (in Thousands) by Cancer Type: 2018
  • Rising Diabetes Prevalence Presents Opportunity for iPSCs Market: Number of Adults (20-79) with Diabetes (in Millions) by Region for 2017 and 2045
  • Aging Demographics Add to the Global Burden of Chronic Diseases, Presenting Opportunities for Laboratory Information System/LIS market
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • Growing Adoption of Laboratory Automation Drives the Need for LIS
  • Rise of Laboratory 4.0 to Spur the Adoption of LIS
  • Laboratory Information Systems Gain Traction amidst Growing Need to Enhance Workflow Efficiencies and Reduce Costs
  • Healthy Trajectory in Genomics Research Favors Market Growth
  • Market Stands to Gain from Growing Proteomics Research Volumes
  • Global Proteomics Market Sales in US$ Million for the Years 2019 and 2024
  • Improving Healthcare Expenditure to Turbo Charge Future Growth of the Market
  • World Healthcare Spending & Growth (in US$ Trillion) and % Real GDP Growth for the Years 2012 through 2018
  • Need to Improve Diagnostics Accuracy
  • Increasing Popularity of Enterprise LIS
  • Rise in Consolidation of Healthcare Providers Creates Need for Robust and Comprehensive LIS
  • Growing Emphasis on Personalized Medicine to Support Growth
  • Rise in Investment in R&D Activity to Spur Growth
  • Shortage of Trained Professionals Hinders Adoption Rate
4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

CANADA

JAPAN

CHINA

EUROPE

FRANCE

GERMANY

ITALY

UNITED KINGDOM

REST OF EUROPE

ASIA-PACIFIC

REST OF WORLD

IV. COMPETITION
  • Total Companies Profiled: 72
Note: Product cover images may vary from those shown
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