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Laboratory Information Management Systems (LIMS) Market is Set for Rapid Growth and Demand By 2028 | Reports and Data

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Laboratory Information Management Systems (LIMS) Market is Set for Rapid Growth and Demand By 2028 | Reports and Data

September 26
20:41 2022
The global laboratory information management systems (LIMS) market size is expected to reach USD 1.91 Billion by 2028 at a CAGR of 9.3%, according to a new report by Reports and Data.

The global laboratory information management systems (LIMS) market size is expected to reach USD 1.91 Billion by 2028 at a CAGR of 9.3%, according to a new report by Reports and Data. Market revenue growth is mainly attributed to growing need for advanced and effective laboratory information management, emerging new features in LIMS, and rising adoption in the pharmaceutical and biotechnology industries. Increasing demand for cloud-based LIMS owing to greater convenience, higher affordability, and better adaptability and reliability is a key factor boosting the global laboratory information management systems (LIMS) market growth to a significant extent. Rise in research & development activities in the life sciences sector, increasing focus on laboratory automation, and growing adoption of LIMS across the food & beverage, agriculture, chemical, environmental testing, and several other industries further drive market growth.

A laboratory information management system (LIMS), also known as laboratory information system (LIS), is a software-based solution for modern-day laboratory operations. Over the past years, LIMS has evolved in terms of functionality and, unlike the traditional LIMS, it is not limited to just sample tracking and management. LIMS is an integrated solution that caters to a wide range of laboratory data & information management needs, such as tracking of lab tests performed, maintaining sample records, and managing customer services and the invoices for those services. Laboratory information management systems are increasingly being adopted in various industry verticals and are replacing other solutions including ELN (Electronic Laboratory Notebook), barcode management systems, accounting software, and patient portals. Some of the core functions of LIMS include reception of samples and associated customer data, sample scheduling and tracking, sample processing and quality control, data storage, and inspection and compilation of sample data.

Some Key Highlights in the Report:

  • Based on component, the services segment is expected to register a revenue CAGR of 9.5% over the forecast period, mainly owing surging need for services such as software upgradation, training for advanced software operations, and long-term maintenance of software.
  •  
  • Among industry verticals, the life sciences industry segment is expected to account for largest market share over the forecast period at a robust CAGR 9.3%. Key factors driving revenue growth of this segment are rising number of bio-banks/bio-repositories, increased government investments in pharmaceutical and biotechnology companies for research & development activities, and increasing outsourcing by pharmaceutical companies worldwide.
  •  
  • North America is the leading regional market in the global laboratory information management systems (LIMS) market, with the fastest revenue CAGR of 9.2%. Increasing public and private investments in pharmaceutical and biotechnological research activities, rising need to improve operational efficiency of laboratories, and emergence of advanced LIMS software with additional features have boosted the North America market growth.
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Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Laboratory Information Management Systems (LIMS) market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

Thermo Fisher Scientific, LabVantage Solutions, LabWare, Abbott Informatics, LabLynx, Agilent Technologies, GenoLogics, LABWORKS, Dassault Systèmes, Computing Solutions, Siemens, Accelerated Technology Laboratories, ApolloLIMS, Autoscribe Informatics, Novatek International, Eusoft, CloudLIMS, Horizon LIMS, and Promium

 

Request Free Sample Copy (To Understand the Complete Structure of this Report [Summary + TOC]) @ https://www.reportsanddata.com/sample-enquiry-form/1354

The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Laboratory Information Management Systems (LIMS) Market Segmentation:

Type Outlook (Revenue, USD Million; 2018-2028)

  • Industry-specific
  • Broad-based

Component Outlook (Revenue, USD Million; 2018-2028)

  • Software
  • Services

Deployment Outlook (Revenue, USD Million; 2018-2028)

  • On-premise
  • Cloud-based

Industry Vertical Outlook (Revenue, USD Million; 2018-2028)

  • Life Sciences Industry
  • Pharmaceutical & Biotechnology Industries
  • Academic Research Institutes
  • Clinical Research Laboratories
  • Contract Research Organizations
  • Bio-banks & Bio-repositories
  • Next-generation Sequencing Laboratories
  • Toxicology Laboratories
  • Others
  • Food & Beverage Industry
  • Agriculture Industry
  • Chemical Industry
  • Oil & Gas industry
  • Environmental Testing Laboratories
  • Others

Geographic Segment Covered in the Report:

The Laboratory Information Management Systems (LIMS) report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

• North America (the USA and Canada)

• Europe (UK, Germany, France, and the rest of Europe)

• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)

• Latin America (Brazil, Mexico, and the rest of Latin America)

• the Middle East and Africa (GCC and the rest of the Middle East and Africa)

Key market aspects are illuminated in the report:

  • Executive Summary: It covers a summary of the most vital studies, the Global Laboratory Information Management Systems (LIMS) market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
  • Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Laboratory Information Management Systems (LIMS) market, the years measured, and the study points.
  • Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
  • Manufacture by Region: This Global Laboratory Information Management Systems (LIMS) report offers data on imports and exports, sales, production and key companies in all studied regional markets.

 

Thank you for reading the report. Kindly note that we also offer customized reports according to the client’s requirements. Contact us to know more about the customization feature and our team will provide you with the best-customized report. 

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, TouchPoints, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provide our clients with the ability to secure an edge over their respective competitors.

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