The Laboratory Information Management System (LIMS) Market Size was valued at USD 2.28 billion in 2023, and is expected to reach USD 3.77 billion by 2031 and grow at a CAGR of 6.5% over the forecast period 2024-2031.
LIMS represents Laboratory Information Management System, and it is a product-based research center and data the board framework with qualities that help the tasks of current labs. Adaptable plan, information following help, and information exchange connection points are extremely significant highlights that work with its application in directed circumstances.
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From simple sample monitoring to an enterprise resource planning tool that controls several areas of laboratory informatics, LIMS has progressed in terms of capabilities and applications. LIMS are increasingly being used in biobanking. Security, end-client charging, patient socioeconomics, and security are undeniably guaranteed by these stages. They likewise make information access more sensible by expanding information inspecting and research data combination. LIMS features sample management, data mining, data analysis, and an electronic laboratory network as applications.
DRIVERS
Quick decision-making processes are becoming more required in biotechnology.
Increasing demand in research laboratories for modern computational tools
Rising use of lims to meet requirements in the life science field without making compromises process versatility
Latest technologies like ai and machine learning are being integrated.
RESTRAINTS
Data management and software costs are increasing.
Data integration format without well-defined standards
Government entities must regulate informatics extremely strictly.
OPPORTUNITIES
Rise in decisions strategic in the informatics field, like partnerships, product launch, and collaborations
Advances in R&D laboratories, particularly in the pharmaceutical sector
Rise in a variety of government and non - government initiatives
Emerging markets have enormous development potential.
CHALLENGES
Insufficient number of qualified and trained professionals to use the computational tools
Complexity of data and a lack of user-friendly tools
Using informatics software to solve problems
Covid illness (COVID19) is a respiratory contaminations irresistible sickness brought about by the Covid 2 (SARSCoV2) that causes extreme intense respiratory condition. Coronavirus, which was for the most part obscure until the flare-up in Wuhan, China, in December 2019, has gone from a provincial issue to a worldwide pandemic very quickly. Coronavirus was proclaimed a pandemic by the World Health Organization (WHO) on March 11, 2020. Because of the urgency of combating the outbreak, pharma and biotech businesses, researchers, diagnostic labs, and testing facilities working on COVID-19 research have used innovative technologies and solutions that go beyond standard methods to improve processes.
COVID-19 research laboratories and diagnostic labs must handle a number of steps (such as test management, sample handling, inventory control, packaging, and shipment). In addition, research labs working on COVID-19 treatments or vaccinations require a comprehensive end-to-end solution to increase the quality, productivity, and speed of vaccine production. This is anticipated to boost adoption of informatics solutions like LIMS, which improve research and testing as well as data administration.
By Type
There are two types of Laboratory Information Management Systems (LIMS) on the market: standalone and integrated. In 2023, the standalone sector had a bigger market share, but the integrated segment is expected to grow at a faster rate throughout the forecast period.
By Deployment Model
On-Premise, Cloud-Based are the three segments of the market. The on-premise segment has the largest market share and is expected to grow at the fastest rate throughout the projected period. The elements that can be attributed include governments' continued efforts to secure sensitive data relating to national security and individual data of citizens, and businesses' concerns about the safety of their own organizational data. These elements are projected to boost the on-premise segment's growth over the coming years. Organizations can lower their operational costs by using the cloud because they don't have to invest in additional computing resources. Segment growth is often fueled by secondary benefits such as cost-effectiveness and increased efficiency.
By Component
Software and services have been separated from the market. In 2023, the services category led the market, accounting for almost 59% of total sales. This is because the demand for LIMS deployment, integration, maintenance, validation, and support has skyrocketed. Also, the expanded interest for LIMS re-appropriating arrangements is projected to drive the market forward. Because large pharmaceutical research labs lack the necessary resources and capabilities to deploy analytics, these services are outsourced. Short-term, project-based, or long-term outsourcing are all options.
By End User
Life sciences, Contract Research Organizations (CROs), petrochemical refineries and the oil & gas industry, chemical industry, food & beverage & agriculture industries, environmental testing laboratories, and other industries such as forensic, metal & mining laboratories have been divided into the market. In 2023, the life sciences end-use segment accounted for the biggest proportion of global revenue, accounting for more than 40% of total revenue. This is due to the widespread use of LIMS in pharmaceutical labs. Lack of qualified in-house personnel, increased productivity, cost efficiency, and rising need for biobanks and biorepositories are all likely to contribute to the segment's growth.
By Type
Integrated
Standalone
By Component
Software
Services
By Deployment Model
Cloud-based
On-premise
By End Use
Environmental Testing Laboratories
Petrochemical Refineries and Oil & Gas
Chemical
Life Sciences
Forensic laboratories
Food & Beverage and Agriculture
Other
The market was dominated by North America, with Europe coming in second. The strong economies of the United States and Canada have enabled considerable investments in new technologies, growth in biobanks, simple availability of LIMS goods and services, and severe regulatory requirements throughout industries, resulting in North America's dominance in the market.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players are as follows: Autoscribe Informatics, Abbott Laboratories, Illumina, Inc., LabVantage Solutions Inc., Labworks, Siemens, Thermo Fisher Scientific, PerkinElmer Inc., LabWare, LabLynx Inc, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 2.28 Billion |
| Market Size by 2031 | US$ 3.77 Billion |
| CAGR | CAGR of 6.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Integrated, Standalone) • By Component (Software, Services) • By Deployment Model (Cloud-based, On-premise, remotely hosted) • By End Use (Environmental Testing Laboratories, Petrochemical Refineries and Oil & Gas, Chemical, Life Sciences, Forensic laboratories, Food & Beverage and Agriculture, Other) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Autoscribe Informatics, Abbott Laboratories, Illumina, Inc., LabVantage Solutions Inc., Labworks, Siemens, Thermo Fisher Scientific, PerkinElmer Inc., LabWare, LabLynx Inc, and other players. |
| DRIVERS | • Quick decision-making processes are becoming more required in biotechnology. • Increasing demand in research laboratories for modern computational tools • Rising use of lims to meet requirements in the life science field without making compromises process versatility |
| RESTRAINTS | • Data management and software costs are increasing. • Data integration format without well-defined standards • Government entities must regulate informatics extremely strictly. |
Ans: The Laboratory Information Management System (LIMS) Market size was valued at US$ 2.28 bn in 2023.
Ans: The Laboratory Information Management System (LIMS) Market is growing at a CAGR of 6.5% over the forecast period 2024-2031.
Quick decision-making processes are becoming more required in biotechnology.
Increasing demand in research laboratories for modern computational tools
Quick decision-making processes are becoming more required in biotechnology.
Increasing demand in research laboratories for modern computational tools
Ans: The Laboratory Information Management System (LIMS) Market is segmented into four segments, By Type, By Component, By Deployment Model, and By End Use.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Laboratory Information Management System (LIMS) Market Segmentation,
By Type
8.1 Integrated
8.2 Standalone
9. Laboratory Information Management System (LIMS) Market Segmentation, By Component
9.1 Software
9.2 Services
10. Laboratory Information Management System (LIMS) Market Segmentation, By Deployment Model
10.1 Cloud-based
10.2 On-premise
10.3 Remotely hosted
11. Laboratory Information Management System (LIMS) Market Segmentation, By End Use
11.1 Environmental Testing Laboratories
11.2 Petrochemical Refineries and Oil & Gas
11.3 Chemical
11.4 Life Sciences
11.5 Forensic laboratories
11.6 Food & Beverage and Agriculture
11.7 Other
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13 Company Profiles
13.1 Autoscribe Informatics
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 Abbott Laboratories
13.3 Illumina, Inc.
13.4 LabVantage Solutions Inc.
13.5 Labworks
13.6 Siemens
13.7 Thermo Fisher Scientific
13.8 PerkinElmer Inc.
13.9 LabWare
13.10 LabLynx, Inc.
14 Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15 Conclusion
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