Report : North America Laboratory Information System (LIS) Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product (Standalone LIS and Integrated LIS), Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On-Premises Delivery Mode), Component (Software and Services), and End User (Hospital Labs, Independent Labs, and Physician Office Labs)
At 10.5% CAGR, the North America Laboratory Information System (LIS) market is speculated to be worth US$ 1,268.92 Million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America laboratory information system (LIS) market was valued at US$ 696.62 million in 2022 and is expected to reach US$ 696.62 million by 2028, registering a CAGR of 10.5% from 2022 to 2028. Rising adoption of automation in laboratories and technological advancements in LIS are the critical factors attributed to the market expansion.
Informatics platforms save time and money as they help to avoid rework if error occurred, and other technical glitches persists. The LIS solutions ensure that samples are only sent or assigned to instruments that are regularly monitored as well as accurately calibrated and maintained as per schedule. Due to technological developments and far exceeding complexities in laboratory process, the scope of LIS has gone beyond data, process, and product management. Moreover, mobility is one of the driving forces of the new technological era, wherein the remote management of laboratories are likely to be indispensable. Cloud-Based Delivery Mode LIS has also been considered to meet the problem of limited geographic coverage associated with the traditional LIS systems. These systems eliminate the need of heavy capital investments in infrastructure and enables fast and safe data transfer within the organizations.
The laboratory information system (LIS) market players are coming up with innovative solutions to sustain their presence in the highly competitive market. For instance, Autoscribe Informatics launched an updated version of its Regulated Manufacturing LIMS, in March 2021; it is a configured solution based on the Matrix Gemini LIS solution. The product is ideal for all manufacturing organizations, including the highly regulated industries such as medical devices and pharmaceuticals.
Moreover, the companies are also upgrading their original automation platforms to meet the escalating demands of researchers and laboratory personnel. In June 2021, PathWest Laboratory Medicine WA integrated-SoftBank, its new laboratory information system (LIS) transfusion medicine module, with the National Blood Authority’s (NBA) BloodNet LIS interface. In Jan. 2021, SoftBank.web version 25.6 of SCC Soft Computer received 510(k) clearance from the US Food and Drug Administration (FDA). This web-enabled version is intended to improve the experience of users both from a visual aesthetic perspective and also providing additional flexibility in user setup, dashboard, reports, and other components which are important to SoftBank users. In March 2020, LabVantage Solutions launched a new information system for laboratory experts in North America. The software features a single, integrated platform with one user interface. It furthermore includes configurable workflows, the ability to automate routine tasks, and data exchange tools. In July 2021, LabVantage Solutions, Inc. launched a new edition of its flagship LabVantage LIMS. The LabVantage LIS 8.7 portal features systems that manage the laboratory’s data security, along with offering self-service access to external customers. It also allows laboratories to go live faster and at a lower total cost. Thus, the developments and innovations by the market players are boosting the growth of global laboratory information system (LIS) market.
On the contrary, limited expertise in healthcare IT domain hurdles the growth of North America laboratory information system (LIS) market.
Based on product, the market is bifurcated into standalone LIS and integrated LIS. The standalone LIS segment held 76.5% market share in 2022, amassing US$ 470.47 million. It is projected to garner US$ 843.56 million by 2028 to expand at 10.2% CAGR during 2022–2028.
Based on delivery mode, the market is segmented into cloud-based delivery mode, web-based delivery mode, and on-premises delivery mode. The cloud-based delivery mode segment held 43.7% market share in 2022, amassing US$ 304.31 million. It is projected to garner US$ 581.52 million by 2028 to expand at 11.4% CAGR during 2022–2028.
Based on component, the market is segmented into software and services. The former held 84.5% market share in 2022, amassing US$ 588.55 million. It is projected to garner US$ 1,055.16 million by 2028 to expand at 10.2% CAGR during 2022–2028.
By end user, the North America laboratory information system (LIS) market is further segmented into hospital labs, independent labs, and physician office labs. With 53.8% share of the domain, the hospital labs segment dominated the market in 2022. It accrued US$ 375.04 million in 2022 and is estimated to generate US$ 674.77 million by 2028 to grow at a CAGR of 10.3% over the forecast period.
Based on country, the market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 76.3% market share in 2022. It was assessed at US$ 531.37 million in 2022 and is likely to hit US$ 977.71 million by 2028, exhibiting a CAGR of 10.7% during the forecast period.
Key players dominating the North America laboratory information system (LIS) market are CompuGroup Medical; Francisco Partners; Hex Labs; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; LABWORKS; McKESSON CORPORATION; Thermo Fisher Scientific Inc., among others.
- In Nov 2021, Thermo Fisher Scientific announced the release of Thermo Scientific SampleManager LIS software version 21.0. New features in SampleManager LIS software version 21.0 include PostgreSQL database support, enhanced user interface for dynamic data approval, and statistical data analysis through integration with R Script with enhancements to the existing Electronic Lab Notebook, contract testing portal, and translation features. The release also delivers a significant product health update through the resolution of 190 SCR defects.
- In July 2022, Whole Genome Bisulfite Sequencing (WGBS) is the gold standard for DNA methylation studies, providing base-level methylation quantification for all cytosines. Zymo-Seq WGBS Library Kit was used in this experiment, in combination with the Illumina DNA Prep library prep kit.
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