North America Laboratory Information System Market to grow at a CAGR of 8.4% during 2016 to 2021


The North America Laboratory Information System Market is presently a $0.47 Billion market in 2016 and is expected to reach USD 0.71 Billion by 2021 with a significant CAGR of 8.4%. Since its invention, the laboratory information system is considered to be the most technically advanced information system in management. It analyses the potential markets for healthcare laboratory information system software and hardware around the globe in the research labs, clinical diagnostics labs, drug discovery and next generation sequencing labs.

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A laboratory information system is designed for information and data management that are often complex and are related to the medical laboratories which include clinical and analytical laboratories. The data or the information collected are stored in the database for future references. The laboratory information system is helpful in the treatment, diagnosis and prevention management of the disease. With the introduction of information systems in laboratories, they can be made more automated increasing the productivity by reducing the non-value adding processes that include sorting tubes, centrifugation, prepping and sorting material for storage.

The factors like rising demand for quality diagnosis with minimum errors, need for improving the efficiency of the laboratories and rising integration of laboratories with information systems are enhancing the growth of the market. The market is also driven by the factors that include rising chronic diseases, increasing per capita expenditure on healthcare and technological advancements in healthcare IT. However, the market has a overcome a few restraints in order to sustain which includes high cost involving the information systems and shortage of skilled healthcare IT professionals.

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The North America laboratory information system market is categorised based on the component as Software, Hardware and services. Based on end-users the market is divided in to hospitals, clinical laboratories, independent laboratories and others. On the basis of mode of delivery the market is categorised into on-premises and cloud based delivery. Based on the geographical region, the North America information system market is segmented into US and Canada.

The laboratory information system market is gaining attention with increasing initiatives by governments and major companies in the IT sector and laboratory services. Major players in the market 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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