The [FURL=https://www.industryarc.com/Report/16763/laboratory-information-system-lis-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Laboratory Information System /LIS market[/FURL] size is estimated to reach $2.24 billion by 2026, growing at a CAGR of 9.3% during the forecast period 2021-2026. Laboratory Information System, also known as a laboratory management system is software that processes, stores and manages data from all stages of medical processes and tests. The data collected are then stored in a secure database for future reference. Rapid innovation in this sector has resulted in advancements in overall features that can be provided by LIS. They have progressed from simple tracking to an enterprise resource planning tool that has the ability to monitor various parts of laboratory informatics.Key Takeaways
Geographically, the North American Laboratory Information System /LIS market accounted for the largest share in 2020 owing to the presence of well-developed healthcare infrastructure in the region.
An increase in the number of medical procedures and tests is driving the demand for LIS. However, the risk of data breaches and cyber-attacks on the LIS databases is a major challenge that can hamper growth.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Laboratory Information System /LIS Market Report.
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Laboratory Information System /LIS Market Segment Analysis - By Geography
The Laboratory Information System /LIS Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The North American segment is projected to dominate the Laboratory Information System /LIS market during the forecast period 2021-2026 with a market share of 37% owing to the presence of highly developed healthcare infrastructure, high healthcare expenditure, and increasing penetration of IT in the healthcare sector. Moreover, the rapid rise in the prevalence of chronic diseases such as cancer, diabetes, and heart disease in the region is increasing the demand for laboratory services.
Laboratory Information System /LIS Market Drivers
Increase in Healthcare Expenditure is Projected to Drive Market Growth
The rise in Lifestyle disorders is Anticipated to Boost Demand
Laboratory Information System /LIS Market Industry Outlook:
The top 10 companies of the industry include Orchard Software Corporation, Sunquest Information Systems Inc, Cerner Corporation, Computer Programs and Systems, CompuGroup Medical AG, Meditech, Comps Pro Med, LabWare, LabSoft, Clin lab
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