The size of the Europe Laboratory Information System Market is estimated to be USD 0.42 Billion in 2022. It is expected to reach USD 0.64 Billion by 2027, growing at a CAGR of 8.6% from 2022 to 2027.
Key market participants' presence in this region, coupled with the technological advancements that are coming in LIS, are hiking the growth of Europe's market. Furthermore, the growing insistence for robust IT systems in diagnostic and medical labs is expected to provide growth opportunities for the market during the forecast period.
Growing European governments' support, increasing requirement for the faultless quality diagnosis, rising healthcare expenditure expenses, and desire for the high standards in the clinical laboratories further contribute to the growth of the European LIS Market.
High costs associated with the installation and maintenance of LIS solutions are significantly hampering the market growth. Furthermore, the shortage of IT professionals' lack of sticking and gluing to the standards is estimated to restrict the market growth to a small extent.
This research report on the European laboratory information system market has been segmented and sub-segmented into the following categories:
By Delivery Mode:
The European region was the second-largest LIS market in the global market in 2020 and is predicted to continue growing at a promising growth rate during the forecast period. The German LIS market dominated the European market in 2020. It accounted for a market share of 26.4% in 2019 due to the rising significance for quality medical care and diagnosis and enhanced lab efficacy, and united healthcare information.
The France LIS market is another lucrative regional market in Europe and is predicted to register healthy CAGR during the forecast period. Y-O-Y growth in the occurrence rate of chronic diseases and many hospitals emphasizing LIS favors the market in France.
On the other end, the UK LIS market is forecasted to register a promising CAGR from 2022 to 2027.
KEY MARKET PLAYERS:
A few promising companies operating in the European laboratory information system market profiled in this report are McKesson, Cerner Corporation, Epic System Corporation, SCC Software Computers, Medical information technology, Labware, Sunquest Information systems, Compugroup Medical, and Evident.
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