The global Laboratory Information Management System (LIMS) market size is anticipated to around USD 2.4 billion by 2026, this market is anticipated to grow with 9.3% CAGR during the forecast time period.

Technical progressions pertinent to pharmaceutical laboratories and increasing need for lab automation are anticipated to drive the need for these systems during the coming years.

Report coverage

Market	Laboratory Information Management System (LIMS) Market
Analysis Period	2018 - 2026
Base Year	2018
Forecast Data	2019 - 2026
Segments Covered	By Product, By Component, By End-user and By Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled	Abbott Laboratories, LabLynx Inc., Thermo Fisher Scientific, Inc., Promium LLC., Siemens Group SA, Novatek International, LabWare, Autoscribe Informatics and PerkinElmer Inc.
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope	10 hrs of free customization and expert consultation

 

Market Dynamics

Growing funds in research and development activities by biotechnological and pharma organizations are providing an important drive to the Laboratory Information Management System (LIMS) market. Increasing emphasis on improving effectiveness of laboratories is also anticipated to aid the Laboratory Information Management System (LIMS) market gain tremendous momentum during the coming years. Increasing emphasis on complying with stringent regulations is also boosting the deployment of LIMS, as they obey with GCP, GMP, and GDP.

LIMS aid in ensuring effective management and security, tracking of data quality, patient demographics, end-user billing, and security. Being progressively deployed for bio banking. They also allow enhanced research information integration and data sampling. As a result, their need is high in bio-sampling applications. Though, limited obtainability of experienced professional to manage progressive technologies is expected to obstruct development prospects.

Market Insights

Additionally, rising routine with regards to genome and DNA contemplate and in-vitro ADME advancements is working for the market. Related favourable circumstances, for example, high accuracy and end of manual information translation blunder are likewise foreseen to give a fillip to the market. Besides, prospering prevalence of cloud-based frameworks is anticipated to emphatically impact the development of the general market.

Laboratory Information Management System (LIMS) are by and large progressively actualized for bio banking. These system guarantee effective management and security, tracking of data quality, patient demographics, end-user billing, and security. They likewise enhance information examining and explore data coordination, accordingly making information get to less demanding. Be that as it may, lack of skilled professional to manage progressive technologies is inhibiting the growth of the Laboratory information management systems market.

Market Segmentation

Market By Product

• On Premise
• Web hosted
• Cloud based

Market By Component

• Software
• Services

Market By End-user

• Life Sciences
• CROs
• Petrochemical Refineries & Oil and Gas Industry
• Chemical Industry
• Food and Beverage and Agriculture Industries
• Environmental Testing Laboratories
• Other Industries (Forensics and Metal & Mining Laboratories)

Market By Geography

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Chile
  • Rest of Latin America

• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA

Regional Insights

North America represented simply over 46.00% of the market in 2018. The region will captures its position in the worldwide field through 2025, on account of steady approaches encouraging research center computerization appropriation, for example, EHR programs. Besides, nearness of cutting edge foundation, increasingneed for genomic ponders, and expanding government financing are enlarging the regional market.The Laboratory Information Management System (LIMS)market for laboratory information management systems in Asia Pacific is foreseen to show the most noteworthy CAGR during the forthcoming years.

Market Participants

Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. The major players associated with theLaboratory Information Management System (LIMS) are Abbott Laboratories, LabLynx Inc., Thermo Fisher Scientific, Inc., Promium LLC., Siemens Group SA, Novatek International, LabWare, Autoscribe Informatics and PerkinElmer Inc.

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