The Laboratory Software Market size is valued at USD 3,648.2 million in 2021 and is expected to grow at a significant CAGR of 10.2% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the Laboratory Software Market and that can be segmented By Product, Delivery Mode, Component, and end-user. By Product, the laboratory software market has been segmented into LIMS, ELN, SDMS, LES, EDC & CDMS, CDS, ECM. The LIMS segment is likely to be the largest and fastest-growing segment in terms of product. Based on delivery mode, the laboratory software market is segmented On-Premises, Web-hosted, Cloud-based. Among these, the On-Premises segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on component, the laboratory software market is segmented into Software, Services. Software is expected to dominate the market in the future. Based on end-use, the market has been segmented into Pharmaceutical and Biotechnology Companies, Biobanks/Biorepositories, CROs, Molecular Diagnostics & Clinical Research Laboratories, Academic Research Institutes, Chemical Industry, F&B and Agriculture, Environmental Testing Labs, Petrochemical Refineries & Oil and Gas Industry, Other Industries. The Pharmaceutical and Biotechnology Companies segment is to dominate other segments in the Laboratory Software market according to Precision Business Insights.
In June 2020, LabWare introduced the latest version of its LIMS—LabWare 8. The LabWare 8 solution is the company’s enterprise laboratory platform (ELP) that delivers the capabilities of both LIMS and ELN in a single integrated system.