Due to technological development and better efficient operations of laboratories, demand for laboratory information management systems is rising.
Market size: 877.02 million in 2019
Growth rate: 9.3%
Market trends: Rising deployment of cloud-based laboratory information management systems.
The Global Laboratory Information Management Systems (LIMS) Market is projected to reach USD 1847.82 million by 2027 from 877.02 million in 2019, with a CAGR of 9.3% through the forecast period.
Leading players in the market:
- Computing solutions
- Abbott Informatics
- Labware, Labvantage
- Thermo Fisher Scientific
- Lablynx, Labworks LLC
- Genologics Inc.
- Autoscribe Informatics
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A LIMS enables the user to manage larger samples and associate the data with expanding laboratory productivity.
An increasing inclination to enhance the productivity of laboratories by introducing an information management system to support different operations by managing tasks like data monitoring, providing a data-sharing interface is expected to fuel the market for laboratory information management systems. This system helps to optimize various laboratory activities in order to keep pace with extensive and stringent customer requirements.
An inclined switch from traditional laboratory management systems to entirely managed LIMS standards is expected to drive the market growth in the coming years. The basic LIMS is easy-to-use and helps to improve efficiency and streamline workflow.
The stringent regulatory rules set by governments to check the authenticity of the data used for analysis by the laboratory research, disaster management and archiving data are also expected to boost the demand for laboratory information management systems.
Due to technological development and better efficient operations of laboratories, the demand for laboratory information management systems is rising.
The advent and popularity of cloud and web-based implementation are predicted to affect the market expansion substantially. Consumers often prefer cloud-based deployment due to some of its unique features like low capital investment, low operational cost and scalability.
- The services sector is predicted to witness the highest CAGR of 9.5% during the projection period based on the component segment. This can be due to the frequent need for various software, including software updates, training in software operations and software maintenance after installing LIMs.
- Cloud-based deployment is predicted to hold the highest growth rate of 9.4% during the projection period. This growth is associated with various services like reliability, cost-effective and ease of use with versatility—data analysis as per the consumer’s need no fixed cost expenditure provided by cloud-based deployment.
- Industries engaged in life science research and testing will have the highest market share of CAGR 9.3% due to increase in subcontracting by the pharmaceutical industry, the number of biobanks and biorepositories and the rise in R&D investments in pharma and biotechnology companies.
- North America is predicted to grow at the fastest rate of 9.2% due to sympathetic and promising government initiatives, increasing demand for research for studying the genome and increasing funding for developing clinical laboratories.
- The Asia Pacific region is expected to grow at a rate of 9.9% in the forecast period. The increase in the trend of outsourced laboratory services to address structural cost and stabilization issues specifically in the petroleum, pharmaceuticals and chemical industries, as well as additional support to the R&D sector-driven the laboratory information management systems market.
- In March 2017, Thermo Fisher Scientific disclosed the acquisition of Core Informatics for managing scientific data.
To identify the key trends in the industry, click on the link below:
For the purpose of this report, Reports and Data has segmented the Global Laboratory Information Management Systems (LIMS) Market on the basis of type, component, deployment, industry vertical, and region:
Type Outlook (Revenue, USD Million; 2017-2027)
Component Outlook (Revenue, USD Million; 2017-2027)
Deployment Outlook (Revenue, USD Million; 2017-2027)
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
- Agriculture Industry
- Bio-banks & Bio-Repositories
- Contract Service Organizations
- Pharmaceutical & Biotechnology Industries
- Oil & Gas industry
- Clinical Research Laboratories
- Academic Research Institutes
- Next-Generation Sequencing Laboratories
- Chemical Industry
- Toxicology Laboratories
- Food & Beverage Industry
- Environmental Testing Laboratories
Regional Outlook (Revenue, USD Million; 2017-2027)
Middle East & Africa
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Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Global deployment of Laboratory Information Management Systems (LIMS)
3.1.2. Global Laboratory Information Management Systems (LIMS) by product type
3.1.3. Region-wise analysis of Laboratory Information Management Systems (LIMS) by industry vertical.
Chapter 4. Laboratory Information Management Systems (LIMS) Market Segmentation & Impact Analysis
4.1. Laboratory Information Management Systems (LIMS) Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Laboratory Information Management Systems (LIMS) Market Impact Analysis
4.4.1. Market driver analysis
126.96.36.199. Rising tendency to improve the Proficiency of Laboratories
188.8.131.52. Increasing Use of Laboratory Information Management Systems to Conform to Strict Regulatory norms
184.108.40.206. Rising Implementation of Cloud-Based Laboratory Information Management Systems
4.4.2. Market restraint analysis
220.127.116.11. Dearth of Integration Standards for Laboratory Information Management Systems
18.104.22.168. Cost-intensive deployment and maintenance cost
4.4.3. Key opportunities prioritized
22.214.171.124. Substantial Growth Prospective in Evolving Markets
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