Jul 22 in General discussion
Laboratory Information Management System (LIMS) Market Size, Share, Scope, Demand and Forecast
"The report ""Laboratory Information Management System (LIMS) Market by Type (Industry), Component (Software, Service), Deployment (On-premise, Cloud (SaaS, PaaS, Iaas)), Size (Mid), Industry (Pharma, NGS, Chemical, Agri, FnB, Oil), & Region - Global Forecast to 2029"", is projected to reach USD 3.8 billion by 2029 from USD 2.1 billion in 2024, at a CAGR of 12.9% during the forecast period.
Browse 451 market data Tables and 55 Figures spread through 425 Pages and in-depth TOC on ""Laboratory Information Management System (LIMS) Market by Type (Industry), Component (Software, Service), Deployment (On-premise, Cloud (SaaS, PaaS, Iaas)), Size (Mid), Industry (Pharma, NGS, Chemical, Agri, FnB, Oil), & Region - Global Forecast to 2029""
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Growing R&D expenditure in pharmaceutical & biotechnology companies, heightening requirement of customizable LIMS solutions, and rising demand for real-time data access in food & beverage industry are some of the factors that attribute to the growth of the market. The centralized platform provided by LIMS for managing diverse laboratory data, including patient information and test results, further propels its adoption. As laboratories increasingly focus on operational efficiency and workflow optimization, the demand for LIMS continues to surge, underlining its essential role in modern healthcare and research environments.
The cloud-based segment is expected to register a substantial growth in the Laboratory Information Management Systems (LIMS) market by deployment mode.
The Laboratory Information Management Systems (LIMS) market is segmented into on-premise LIMS, cloud LIMS, and remote-hosted LIMS. In 2023, the cloud-based segment is expected to register a substantial growth in the Laboratory Information Management Systems (LIMS) market, by deployment mode. It is driven by scalability, flexibility, and cost-effectiveness. The ability to adapt to changing workloads, reduced upfront investments, and lower maintenance costs make cloud solutions attractive to diverse laboratories. The accessibility and ease of remote data management meet the needs of a modern workforce, while enhanced security features address data protection and compliance concerns. As the industry prioritizes agility, cost efficiency, and data security, the growth of cloud-based deployment in LIMS is expected to continue.
The large companies segment holds substantial share in the Laboratory Information Management Systems (LIMS) market, by company size.
The Laboratory Information Management Systems (LIMS) market is segmented into large companies, mid companies, and small companies. In 2023, the large companies segment holds substantial share in the Laboratory Information Management Systems (LIMS) market, by company size. The large share of the segment is attributed to their scalability across multiple sites, comprehensive features for efficient data management and compliance, and ability to integrate with diverse laboratory instruments and enterprise systems, ensuring centralized control and enhanced collaboration. These factors collectively support improved efficiency, regulatory compliance, and ROI in large-scale laboratory operations.
Asia is to witness a considerable growth rate during the forecast period.
The Laboratory Information Management Systems (LIMS) market is divided into five primary regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific market is expected to experience significant growth at a notable CAGR during the forecast period. Key drivers of this growth include the rise in medical tourism, increasing investments likely to attract new market participants, the emergence of various technologies, and heightened foreign direct investments from European and North American pharmaceutical and biotechnology firms in Asia. These factors are expected to fuel the advancement of Laboratory Information Management Systems (LIMS) applications in the Asia Pacific region.
Key Players
LabWare (US), LabVantage Solutions Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), LabLynx, Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Dassault Systèmes (France), Novatek International (Canada), Ovation (US), Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US Computing Solutions, Inc. (US), Agilent Technologies (US), Siemens (Germany), Clinsys (US) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.
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Laboratory Information Management System (LIMS) Market Size, Share, Scope, Demand and Forecast
