Laboratory Information Systems Market Worth $1,806.1 Million by 2019

The global laboratory information systems (LIS) market is expected to reach $1,806.1 million by 2019 from $1,175 million in 2014, growing at a CAGR of 9% from 2014 to 2019.

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The LIS market is segmented on the basis of end user, delivery mode, product, component, and geography. Among various end users, the clinical diagnostic laboratories segment is expected to account for the largest share in 2014, while molecular diagnostic laboratories is expected to be the fastest-growing segment in the LIS market, owing to technological advancements and new product launches in this end-user segment.

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Furthermore, factors such as rising aging population and chronic diseases resulting in greater number of diagnostic tests, increasing need to integrate healthcare systems, and increasing government funding and support for implementing healthcare IT tools trigger growth of this market.

Based on geography, the global market is segmented into North America, Europe, Asia, and Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2014. The large share of this region can be attributed to various factors such as huge pressure to cut down the healthcare spending, growing demand to integrate healthcare systems, need to improve the quality of healthcare services, and rising government support and incentives especially in the U.S. leads to increase in the adoption of laboratory information systems.

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Prominent players in the market are Cerner Corporation (U.S.), Sunquest Information Systems (U.S.), Medical Information Technology (Meditech) (U.S.), SCC Soft Computer (U.S.), EPIC Systems Corporation (U.S.), McKesson Corporation (U.S.),CompuGroup Medical (Germany), Merge Healthcare (U.S.), Orchard Software (U.S.), and Computer Programs and Systems Inc.(U.S.). Other players in this market include Comp Pro Med (U.S.), Psyche Systems (U.S.), TechniData America (U.S.), HEX Laboratory Systems (U.S.), and Siemens Medical Solutions (U.S.).

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