Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software, Service), Delivery (On premise, Cloud, SaaS, PaaS, IaaS), Industry (CRO, CMO, Pharma, Biotech, Chemical, Agriculture, FnB, Oil, Gas) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
Laboratory Information Management System (LIMS) Market Overview
The global LIMS market is projected to reach USD 2.1 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 13.2% during the forecast year, 2021-2028.
A Laboratory Information Management System (LIMS) is software that allows you to effectively manage samples and associated data. By using a LIMS, your lab can automate workflows, integrate instruments, and manage samples and associated information. Additionally, you can produce reliable results more quickly and can track data from sequencing runs over time and across experiments to improve efficiency.
Increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS are some of the factors that have supported long-term expansion for Laboratory Information Management System (LIMS) Market.
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Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps. Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of informatics solutions, such as LIMS, which enhance research and testing activities, along with efficient data management.
Laboratory Information Management System (LIMS) Market Regional Analysis
China, India, Japan, Singapore, Brazil, and Middle Eastern countries are major upcoming markets for LIMS. These markets lack proper standards and government regulations, thus offering huge potential for vendors unable to meet the standards implemented in developed markets such as the US. Several biopharma players are also shifting their manufacturing plants in Asia for low-cost production.
Laboratory Information Management System (LIMS) Market Competitive Landscape
Key Players
• LabWare
• LabVantage Solutions
• Thermo Fisher Scientific
• Abbott Informatics
• Agilent Technologies Inc.
• LabLynx, Inc.
• Dassault Systèmes
• Labworks LLC
• Autoscribe Informatics
• Accelerated Technology Laboratories
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Laboratory Information Management System (LIMS) Market Recent Developments
• In December 2017, HALCOR METAL WORKS S.A entered into a merger agreement with ELVAL HELLENIC ALUMINIUM INDUSTRY S.A., in order to combine their companies into one operating entity, under the name ELVALHALCOR. The merger's purpose is to synergize and strengthen both their growth prospects in the aluminum market of Europe. This development will enhance the line set market share of Halcor in the European region.
• In February 2019, Daikin completed the acquisition of AHT Group (Austria), a leading company in the commercial refrigeration market in Europe. The acquisition will help Daikin in adding a range of products, services, and solutions based on its air conditioning and refrigeration equipment.
Reasons to Acquire in the Laboratory Information Management System (LIMS) Market
• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Laboratory Information Management System (LIMS) Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Frequently Asked Questions
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