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Growth drivers like surging requirement for innovative healthcare information systems, burgeoning demand for molecular diagnostics, accelerating need for higher lab productivity, and rising adoption of cloud computing in laboratory information systems (LISs) will fuel the laboratory information system market at a CAGR of 6.5% during the forecast period (2020–2030). The market stood at $1,756.2 million in 2019 and it is projected to reach $3,457.2 million by 2030. Moreover, the growing focus of healthcare facilities on reducing operational cost will also amplify the demand for LISs in the coming years.

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One of the key drivers of the laboratory information system market is the rising need for advanced healthcare information systems in hospitals and clinics. LIS assists in delivering rehabilitation, treatment, and diagnosis services through one integrated platform. Utilization of LIS saves the diagnosis time by helping doctors to share and discuss treatment plans with patients and streamlining back-office operations. For example, the National Health Service (NHS) works to establish a sustainable and transformed partnership that covers plans of improving healthcare for patients.  

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Moreover, the availability of mobile-based personalized health solutions has become a prime trend in the market in recent years. Tablets and smartphones provide a wide range of information and communication services to clinicians and patients, which help in reducing the frequency of hospital visits for diagnostic purposes. For instance, the Ministry of Ayurveda, Yoga, Unani, Siddha & Homeopathy (AYUSH), India, in June 2019, developed the AYUSH GRID to accumulate all its information technology (IT) plans under one umbrella, with the aims to get all the integrated IT initiatives.  

Thus, the constant technological advancements in healthcare system and the high demand for enhanced lab productivity will fuel the market growth during the forecast period.

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