Laboratory Information System /LIS Market - Analysis & Forecasts to 2021

The report "Laboratory Information System /LIS Market by Product (Standalone, Integrated), Component (Services, Software), End User (Hospital Labs, Independent Labs), Delivery Mode (On-premise, Web-based, Cloud-based) - Analysis & Forecasts to 2021", that analyzes and studies the major market drivers, restraints/challenges, and opportunities.

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The laboratory information system market is poised to reach USD 2.12 Billion by 2021, growing at a CAGR of 9.1% during the forecast period of 2016 to 2021. The growth of the overall laboratory information system market can be contributed to the rising chronic disease prevalence, utilization of laboratory information system for enhancing laboratory workflow efficiency, and increasing government and industry player’s initiatives into the laboratory services. However, high cost of LIS systems and lack of skilled healthcare IT professionals are likely to hamper the growth of the market.

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North America is estimated to account for the largest share of the global laboratory information system market. Increasing chronic diseases prevalence, rising demand for quality diagnostics, favorable reimbursement policies, and initiatives undertaken by governments are some of the key factors driving the growth of the laboratory information system market in North America. Europe is expected to account for the second-largest share of the market. A majority of the leading players in the laboratory information system market are pursuing the strategies of product deployments, new product launches, and partnerships.

In the coming years, the laboratory information system market is expected to witness the highest growth in the Asia-Pacific region. Factors such as large patient population, increasing initiatives in the healthcare industry by the government and key market players, and rising adoption of advanced technologies for disease diagnosis are driving the growth of the laboratory information system market in this region.

Prominent players in the global laboratory information system 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.), Merge Healthcare, Inc. (U.S.), and Orchard Software Corporation (U.S.).