The North American Laboratory Information System Market is Projected to Grow at a CAGR of 9.2% from 2017 to 2022 – Axiom MRC
Extensive primary research is conducted to bring insights into the market share, key industry trends, new technologies, and future outlook of laboratory information system market. All secondary findings are verified and validated by the industry experts and subject matter experts which typically include: CEOs/CMOs of the key healthcare IT companies, Key Opinion Leaders such as Research Experts, Consultants, Knowledge Professionals and others, managers and top executives.
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Major Drivers and Restraints of the market
The laboratory information systems market is driven by factors such as increasing number of conferences and symposiums to create awareness about LIS, rising need for improving the workflow efficiency of laboratories, increasing requirement for data storage and record keeping and rising demand for quality diagnosis with minimum errors and maximum accuracy. Along with this, growing prevalence of chronic diseases and rising ageing population in North American states are demanding advanced healthcare systems wherein high importance is given to the patient history, past records, multiple test results and follow up with patients. Similarly, the market growth is attributed to increasing government participation in promoting LIS as well as growing IT (Information Technology) sector in healthcare. Lack of trained healthcare professionals, high development cost and decreased revenues of laboratories are restraining the market growth.
Clinical Pathology LIS holds the largest market share
According to its types, the laboratory information systems market is segmented into Clinical Pathology LIS and Integrated LIS. The market is dominated by Clinical Pathology LIS due to existence of large number of clinical laboratories in North American countries and effective use of clinical pathology in such laboratories.
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Standalone LIS accounts for the largest market share
The market by product is studied for Standalone LIS and Integrated LIS. The Standalone LIS products dominate the LIS market while Integrated LIS is projected to be the fastest growing market due to rising demand for the same mainly due to its reduced installation cost and maintenance.
LIS Services dominate the market for LIS
LIS is a software or services based system, designed for data management of medical laboratory test results and related information. According to the components, the market is segmented into Software and Services. The Services segment dominates the market, while softwares segment is projected to be the fastest growing segment in the coming years.
On-Premise mode of delivery is the highest used delivery mode for LIS
According to the mode of delivery, the market is segmented into On-Premise, Remotely Hosted, and Cloud Based. The most commonly used LIS delivery mode is on-premise due to its user-friendliness and privacy maintenance features accepted by laboratories. But gradually the cloud systems are taking over all wherein the data is stored and delivered through a common platform.
Clinical Diagnostic laboratories use LIS to the largest extent.
The laboratory information systems market by end users is segmented into Clinical Diagnostic Laboratories, Anatomic Pathology Laboratories, Molecular Diagnostic Laboratories, Hospitals, Blood Banks among others. The use of these systems is highest in clinical diagnostic laboratories due to high need for data management, affordability and specifically designed systems for clinical laboratories.
Established healthcare industry, technological advancement and growing need for diagnostic laboratories for rising patient population led to the growth of laboratory information systems in the U.S.
The U.S. dominated the market with the largest market share followed by Canada and Mexico. The leading players include 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, Sunquest Information Systems, Inc. among others. These players are expanding their presence in the market by innovating new and unique types of products and services for a wide variety of applications.
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