Laboratory Information Management Systems (LIMS) Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2016 to 2021 and Forecast 2022 to 2028

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Global Laboratory Information Management Systems (LIMS) Market by product(Industry-specific LIMS, Broad-based LIMS) by deployment model(Remotely hosted, On-premise, Cloud-based) by component(Services, Software) by application(Pharma & Biotech Industry, Food and Beverages Industry) by modules(Haematology, Microbiology, Histopathology, Biotechnology, Chemistry) and Geography

 

 

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Report

Description

Laboratory Information Management Systems (LIMS) Market was valued at USD 1.4 billion in 2021 and projected to reach USD 3.5 billion by 2028 growing at a CAGR of 14% during the forecast period 2022 to 2028. A laboratory information management system is also known as laboratory management systems, a software system enables support laboratory operations that can track workflow and specimens, aggregate data for research or business intelligence purposes and ensure laboratory operation complaint with various regulations and standards. LIMS enable labs to produce accurate, reliable, reproducible and faster data. Laboratory information management systems which are developed by the producers may not be useful for all end users. Hence, LIMS producers offer customized solutions for the customers which are specifically tailored according to the requirement and budget of the user in order to help better return on investment (ROI). LIMS producers are developing multimodality systems able to integrate the entire process of hospitals, clinical laboratories, or clinics and help the end user to reduce operational costs. Increasing proliferation of smartphones, mobile solutions, e-services and point of care trend is expected to propel the usage of LIMS and thereby, increasing the growth of LIMS market. The high maintenance and service costs of Laboratory Information Management Systems (LIMS) Market are significant market limitations. According to industry analysts, the cost of maintaining IT solutions is higher than the cost of the product itself. Service and maintenance (which includes software update to meet changing user requirements) is a recurring expense that accounts for nearly 20–30% of the total cost of ownership. Furthermore, training and implementation costs account for about 15% of the total cost. Many small and medium-sized laboratories find it difficult to invest in these systems as a result of these constraints, restricting their adoption. However, as cloud-based LIMS solutions become more prevalent, the impact of this limitation is projected to diminish in the future years.

Laboratory Information Management Systems (LIMS) Market

MARKET SUMMARY
-
14% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 14%
  • Largest Market– North America
  • Fastest Growing Market– Europe

Laboratory Information Management Systems (LIMS)

  • The global Laboratory Information Management Systems (LIMS) Market report gives comprehensive outlook on Laboratory Information Management Systems (LIMS) Market across the globe with special emphasis on key regions such as Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
  • The report on global Laboratory Information Management Systems (LIMS) Market gives historical, current, and future market sizes (US$ Bn) on the basis of product, deployment mode, component, application, modules and Region.
Key Players
  • Thermo Fisher Scientific, Inc. (U.S.)
  • LabVantage Solutions, Inc. (U.S.)
  • LabWare, Inc. (U.S.)
  • Autoscribe Informatics (U.K.)
  • Illumina, Inc. (Canada)
Dynamics

Laboratory Information Management Systems (LIMS) Market

LIMS provides the wide range of applications to biopharmaceutical companies to address the key challenges in drug development process. Increase in inclination towards the LIMS, rising adoption of advanced technologies, increase in maintenance of precise and accurate data regarding bioanalysis, invitro pharmacokinetic studies, discovery, R&D and QA/QC are the few factors which propelled the growth of Laboratory information management systems market. However, lack of skilled professionals to manage the technology and high-cost association are the few restraints expected to hamper the growth of the laboratory information management systems market.


North-America got significant share

Laboratory Information Management Systems (LIMS) Market

Laboratory Information Management Systems Market is segmented into Asia-Pacific, Europe, North America, and the Middle East & Africa, Latin America. North America market globally owing to the high adoption of advanced technologies along with efficient and safety management of data in healthcare laboratories. Europe holds a significant position in global Market due to increase in healthcare infrastructure and developments of IT sector. Owing to efficient developments and increasing healthcare expenditure in emerging countries like India, China, and Brazil are expected to fuel the growth of Market.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The report provides granular level information about the market size, regional market share, and forecast
  • The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
  • The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
  • The report tracks recent innovations, key developments, and startup’s details that are working in the industry
  • The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario

Laboratory Information Management Systems (LIMS) Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

2021 is the base year and 2028 is the forecast year.

The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).

In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.


Report

Table Of Content


Report

Company Profile

  • Thermo Fisher Scientific, Inc. (U.S.)
  • LabVantage Solutions, Inc. (U.S.)
  • LabWare, Inc. (U.S.)
  • Autoscribe Informatics (U.K.)
  • Illumina, Inc. (Canada)
  • Abbott Informatics (U.S.)
  • LabLynx, Inc. (U.S.)
  • Computing Solutions, Inc. (U.S.)

Description

Laboratory Information Management Systems (LIMS) Market was valued at USD 1.4 billion in 2021 and projected to reach USD 3.5 billion by 2028 growing at a CAGR of 14% during the forecast period 2022 to 2028. A laboratory information management system is also known as laboratory management systems, a software system enables support laboratory operations that can track workflow and specimens, aggregate data for research or business intelligence purposes and ensure laboratory operation complaint with various regulations and standards. LIMS enable labs to produce accurate, reliable, reproducible and faster data. Laboratory information management systems which are developed by the producers may not be useful for all end users. Hence, LIMS producers offer customized solutions for the customers which are specifically tailored according to the requirement and budget of the user in order to help better return on investment (ROI). LIMS producers are developing multimodality systems able to integrate the entire process of hospitals, clinical laboratories, or clinics and help the end user to reduce operational costs. Increasing proliferation of smartphones, mobile solutions, e-services and point of care trend is expected to propel the usage of LIMS and thereby, increasing the growth of LIMS market. The high maintenance and service costs of Laboratory Information Management Systems (LIMS) Market are significant market limitations. According to industry analysts, the cost of maintaining IT solutions is higher than the cost of the product itself. Service and maintenance (which includes software update to meet changing user requirements) is a recurring expense that accounts for nearly 20–30% of the total cost of ownership. Furthermore, training and implementation costs account for about 15% of the total cost. Many small and medium-sized laboratories find it difficult to invest in these systems as a result of these constraints, restricting their adoption. However, as cloud-based LIMS solutions become more prevalent, the impact of this limitation is projected to diminish in the future years.

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