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Laboratory Information Management System analysis report by Fact.MR shows that global revenue of Laboratory Information Management System in 2021 was held at US$ 1.8 Bn. With 8.1%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth. Software segment is expected to be the highest revenue generator category, accounting for an absolute dollar opportunity of nearly US$ 2.4 Bn during 2022 – 2032.
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How Cloud-Based LIMS Propels the Overall Market Growth?
The rising frequency of chronic diseases is a major factor driving the worldwide laboratory information management system market. According to the World Health Organization (WHO), 422 Mn people worldwide suffer with diabetes, with the majority living in low- and middle-income nations. In addition, the increasing number of offers by participants is aiding market expansion. Labvantage Solutions, for example, had recently announced the availability of their new COVID-19 LIMS solution. The most recent solution is intended to help laboratories all around the world quickly input biospecimens into a pathology laboratory and begin doing COVID-19-related development and experiments using cloud based system.
Cloud computing is also gaining traction among mid-size and small enterprises, allowing them to access application software over an elevated internet connection without having to invest in computing software or hardware.
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Competitive Analysis
There are a few key participants in the laboratory information management system industry, which is moderately competitive. Few large players currently control the market in terms of market share. With the growing demand for mobile health and developments in LIMS, a small number of smaller competitors are projected to enter the market and gain a significant stake. Abbott Laboratories, LabVantage, McKesson Corporation, LabLynx, and Siemens Healthcare GmbH, among others, are some of the key competitors in the market.
Some of the recent developments of key Laboratory Information Management System providers are as follows:
In August 2021, CTI Clinical Trial and Consulting Services (CTI) and LabWare, Inc. announced cooperation to extend laboratory services to support rare disease and cell and gene therapy research around the globe. In March 2021, LabVantage Solutions, Inc. introduced LabVantage Analytics, a self-service advanced analytics system that allows customers to effortlessly explore, analyse, and visualise LIMS, enterprise, and external data to get meaningful business insights.
Key Companies Profiled:
LabWare (US) LabVantage Solutions (US) Thermo Fisher Scientific (US) Abbott Informatics (US) Agilent Technologies Inc. (US) LabLynx, Inc. (US) Dassault Systèmes (France) Labworks LLC (US) Autoscribe Informatics (US) Accelerated Technology Laboratories (ATL).
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Market Segments Covered in Laboratory Information Management Systems Analysis
By Component : By Deployment Model : On-premise Web-based Web-Hosted
By End-User : CROs Petrochemical Refineries & Oil and Gas Industry Chemical Industry Food and Beverage & Agriculture Industries Environmental Testing Laboratories Other Industries
Key Questions Covered in the Laboratory Information Management System Market Report
What is the projected value of the Laboratory Information Management System factors Industry in 2022? At what rate will the global Laboratory Information Management System factors market size grow until 2032? Which are the factors hampering the growth of Laboratory Information Management System factors? Which region is expected to lead in the global Laboratory Information Management System factors market By 2032? Which are the factors driving the Laboratory Information Management System factors Industry during the forecast period? What is the expected market value of the Laboratory Information Management System factors market during the forecast period?
Regional Analysis For Laboratory Information Management System Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka) Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania) North America (USA, Canada and Mexico) South America (Brazil, Chile, Argentina, Rest of South America) MEA (Saudi Arabia, United Arab Emirates, South Africa)
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