Laboratory Information System Market size in 2019 is estimated to be $1.5 billion, growing at a CAGR of 7.3% during the forecast period 2020-2025. The laboratory information system are also referred to as laboratory management system which is a software that records, manages and stores data for clinical laboratories. The laboratory information system is used for schedule testing, track tests, and pass their results to other systems in the supply chain such as enterprise resource planning system. Rising incidence of chronic disease and technological advancement are the major factors driving the growth of the market. Moreover, increasing demand for integrated information system in the healthcare industry and rise in the number of medical procedures further enhance the overall market demand for laboratory information system during the forecast period 2020-2025.

Key Takeaways

In 2019, North America dominates the laboratory information system market owing to increasing prevalence of diseases, advanced instruments and technologies and increasing healthcare expenditure.
Rising incidence of chronic diseases and technological advancement is driving the market growth of laboratory information system.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the laboratory information system market report.
The high cost of laboratory information system and rising data security and privacy concern are challenging the growth of the market. 

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Geography - Segment Analysis

North America dominated the laboratory information system market share accounting for 41% of the market in 2019. This is mainly owing to increasing prevalence of diseases, advanced instruments and technologies and increasing healthcare expenditure. According to the World Health Organization, chronic diseases such as heart disease, cancer, diabetes are the leading cause of death. It is estimated that about 60% of people are suffering from chronic diseases so the demand for laboratory services are increasing in the U.S.

However, the Asia-Pacific region is forecast to be the fastest-growing during the forecast period 2020-2025. This is mainly owing to growing geriatric population and growing healthcare facilities.

Drivers – Laboratory Information System Market 

Rising Incidence of Chronic Disease
Technological Advancements

Laboratory Information System Industry Outlook

Laboratory Information System top 10 companies are  Orchard Software Corporation, Sunquest Information Systems Inc., Cerner Corporation, Computer Programs and Systems, Inc., CompuGroup Medical AG, Meditech , Comps Pro Med, Inc, LabWare, Inc. , LabSoft, Inc., and Clinlab, Inc. 

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