The University alumna was edged out in the final by compatriot Sarah Storey as Britain took a 1-2 on the opening day of action in Japan.
Lane-Wright also set a new personal best during qualifying before adding to her personal collection of Paralympic Games medals after winning silver and bronze at Rio 2016.
Following the race, Lane-Wright spoke to Channel 4:
"I don't think I've reached my full potential. I think I can keep getting better.
"As much as I'm up against Sarah, it's me against me. I can only control what I can do. To get such a good PB this morning, I'm so pleased.
"During the pandemic, it's been so easy to become isolated and become self-centred so if there's one person that watches this and thinks "I can do it" and that I've inspired them, that's more than any medal I've ever won.
"Paralympics sport is still in its infancy - please be inspired!"
Loughborough’s dedicated Paralympic Games website features all the latest news, videos, and medal tables from Japan.