Global Laboratory Information Management System (LIMS) Market Analysis By Type (Cloud-Based LIMS, On-Premise LIMS, Remotely Hosted LIMS), By Component (Software, Services, Hardware), By Application (Sample Management, Data Management, Workflow Management, Inventory Management) & Forecast
- PUBLISHED ON
- 2024-05-10
- NO OF PAGES
- 267
- CATEGORY
- Healthcare & Life Sciences
The global Laboratory Information Management System (LIMS) market was worth USD 1,100 million in 2022 and is expected to reach USD 1,800 million by 2033, growing at a CAGR of around 8.5% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 1,100 million |
Market Forecast in 2033 | USD 1,800 million |
CAGR % 2023-2033 | 8.5% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Thermo Fisher Scientific Inc.; LabWare Inc.; Abbott Laboratories; Agilent Technologies, Inc.; Siemens Healthineers AG; Illumina, Inc.; PerkinElmer Inc.; LabVantage Solutions, Inc.; Autoscribe Informatics; Shimadzu Corporation |
Global Laboratory Information Management System (LIMS) Market- Description
The growth of the LIMS market can be attributed to the increasing demand for laboratory automation, the growing need for regulatory compliance, and the rising adoption of LIMS in biobanks, clinical research organizations, and contract research organizations. Additionally, the integration of LIMS with other laboratory instruments and software solutions is also expected to drive the growth of the market.
Furthermore, the COVID-19 pandemic has also led to an increase in the demand for LIMS, especially in clinical laboratories, as the need for accurate and efficient data management and analysis has become critical. North America is expected to dominate the global LIMS market, followed by Europe and Asia Pacific, due to the increasing adoption of LIMS in the pharmaceutical and biotechnology industries and the growing focus on research and development activities in these regions.
Overall, the LIMS market is expected to continue to grow in the coming years, driven by technological advancements, increasing investments in research and development activities, and the need for efficient data management and analysis in various industries.
Global Laboratory Information Management System (LIMS) market: Key Trends
• Growing Demand for Cloud-Based LIMS Solutions:
One key trend in the global LIMS market is the growing demand for cloud-based LIMS solutions. Cloud-based LIMS solutions offer several advantages, including easy accessibility, scalability, and reduced maintenance costs. Moreover, with the increasing adoption of remote work and virtual collaborations due to the COVID-19 pandemic, cloud-based LIMS solutions have become a preferred choice for laboratories that need to access data from anywhere at any time.
• Growing use of artificial intelligence (AI) and machine learning (ML) in medical devices:
Integration of Artificial Intelligence (AI) and Machine Learning (ML) in LIMS Solutions: Another key trend in the global LIMS market is the integration of AI and ML technologies in LIMS solutions. AI and ML algorithms can help laboratories automate routine tasks, such as sample tracking and data analysis, and improve the accuracy and speed of laboratory workflows. Additionally, AI and ML can help laboratories analyze large datasets and identify patterns and trends that would be difficult to identify manually
Global Laboratory Information Management System (LIMS) market: Segmental Analysis
By Type:
• Cloud-Based LIMS
• On-Premise LIMS
• Remotely Hosted LIMS.
By Component:
• Software
• Services
• Hardware
By Application:
• Sample Management
• Data Management
• Workflow Management
• Inventory Management.
The sample management segment is anticipated to witness a larger market share.
Global Laboratory Information Management System (LIMS) market: Geographical landscape
The North American region, consisting of the US and Canada, is expected to dominate the global LIMS market. The market growth in this region can be attributed to factors such as the increasing adoption of LIMS by pharmaceutical and biotech companies, the growing demand for advanced healthcare services, and the presence of leading LIMS vendors in this region. The European region, consisting of countries such as Germany, France, and the UK, is also expected to witness significant growth in the LIMS market. The market growth in this region can be attributed to factors such as the increasing demand for LIMS in research and academic laboratories, the growing emphasis on data quality and compliance, and the presence of key LIMS vendors in this region. The Asia Pacific region, consisting of countries such as China, Japan, and India, is expected to witness the highest growth in the LIMS market during the forecast period. The market growth in this region can be attributed to factors such as the increasing adoption of LIMS by clinical and diagnostic laboratories, the growing demand for personalized medicine, and the increasing investments in life sciences research and development activities.
Global Laboratory Information Management System (LIMS) Market- Recent Developments
• In August 2021, LabVantage Solutions announced the launch of LabVantage 9.5, the latest version of its LIMS software. The new version includes several enhancements, such as improved data visualization and analysis tools, improved workflow management, and enhanced security features.
• In June 2021, Thermo Fisher Scientific announced the launch of the new version of its LIMS software, SampleManager 12.3. The new version includes several new features, such as enhanced workflows, improved data analytics, and better integration with other laboratory software.
• In May 2021, LabWare announced the launch of LabWare 8, the latest version of its LIMS software. The new version includes several new features, such as improved data visualization and analysis tools, enhanced workflow management, and better integration with other laboratory software.
Global Laboratory Information Management System (LIMS) Market: Key Companies
• Thermo Fisher Scientific Inc.
• LabWare Inc.
• Abbott Laboratories
• Agilent Technologies, Inc.
• Siemens Healthineers AG
• Illumina, Inc.
• PerkinElmer Inc.
• LabVantage Solutions, Inc.
• Autoscribe Informatics
• Shimadzu Corporation
• Others
Global Laboratory Information Management System (LIMS) Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Why to buy this Report?
Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of the market they are operating in or considering entering, and make more informed decisions based on data and analysis.
Competitive analysis: The report reports provide detailed information on competitors' strengths, weaknesses, and strategies, which can help businesses identify potential threats and opportunities in the market.
Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.
Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI