Press Release

NORTH AMERICAN LABORATORY INFORMATION SYSTEM MARKET PROJECTED TO GROW AT A CAGR OF 10.00% FROM 2019 TO 2024 – AXIOM MRC

July, 2018: Axiom Market Research & Consulting™ added a report on North America laboratory information system market. The North America laboratory information system market was projected to grow at a CAGR of 10.00% for the forecast period 2019 to 2024. The North America market is estimated and forecasted in terms of revenue (USD million) generated by the laboratory information system market.

The North America laboratory information system (LIS) market is segmented based on products, types, components, delivery mode, and end users. The most important products of laboratory information systems (LIS) are standalone LIS, and integrated LIS. The standalone LIS products dominated the LIS market in 2017. Moreover, the integrated LIS is projected to be the fastest growing segment during the forecast period, due to reduced installation cost and maintenance offered by them. The major types of LIS considered for the study are clinical pathology LIS and anatomic pathology LIS. The clinical pathology LIS accounted for the largest share in 2017. The components studied are software and services. The delivery modes considered for the study are on premise, remotely hosted, and cloud-based. Laboratory information systems are majorly used in clinical diagnostic laboratories, anatomic pathology laboratories, molecular diagnostic laboratories, hospitals, blood banks among others. The use of these systems is highest in hospitals due to high need for data management, affordability and in-house laboratories developed in the hospitals. The North America market is studied for the key countries such as, U.S., Canada, and Mexico. In 2017, the U.S. accounted for the largest market share for Laboratory Information System products and is anticipated to grow at the highest pace during the forecast period.

A well-established healthcare sector in North American region and rising demand for quality & efficient diagnosis with accurate testing are the major driving factors of this market.

The leading players of the North America laboratory information system market are Cerner Corporation, CompuGroup Medical AG, Computer Programs and Systems, Inc. (CPSI), EPIC Systems Corporation, McKesson Corporation, Meditech (Medical Information Technology, Inc.), Merge Healthcare, Inc., Orchard Software Corporation, SCC Soft Computer and Sunquest Information Systems, Inc. among others. These players are expanding their presence in the market by innovating new and unique products and services for a wide variety of applications.

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