(MENAFN- GlobeNewsWire - Nasdaq) Global Laboratory Information Management System (LIMS) Market Growth is Driven by automation, cloud-based solutions, and AI integration

Pune, Jan. 17, 2025 (GLOBE NEWSWIRE) -- Laboratory Information Management System (LIMS) Market Size & Growth Analysis:

"According to SNS Insider, The Laboratory Information Management System (LIMS) Market size was valued at USD 2.29 billion in 2023 and is projected to reach USD 4.61 billion by 2032, growing at a robust CAGR of 8.12% over the forecast period of 2024-2032."

The growth of the Laboratory Information Management System (LIMS) Market is attributed to the rising demand for streamlined laboratory workflows, increased adoption of cloud-based solutions, and the need for regulatory compliance in the pharmaceutical and biotech sectors.

LIMS Market Overview

The LIMS Market is experiencing significant growth, driven by the need for efficient data management, enhanced collaboration, and automation in laboratories. The increasing volume of complex data generated in industries like healthcare, pharmaceuticals, biotechnology, and environmental testing has necessitated robust LIMS solutions. Moreover, advancements in AI and machine learning have enabled LIMS platforms to deliver predictive analytics, further driving their adoption. In 2023, the market witnessed a steady supply-demand balance, with heightened adoption in emerging markets due to the affordability and scalability of cloud-based solutions. Key players are actively investing in R&D to deliver innovative and customizable LIMS software, meeting the unique needs of diverse laboratories.

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Key Insights

• In 2023, 70% of pharmaceutical companies and 65% of clinical research organizations reported adopting LIMS solutions, underscoring the critical role of these systems in data integrity and workflow optimization.

• From 2020-2032, the adoption of cloud-based LIMS is forecasted to grow significantly, fueled by the demand for scalable and remote-access solutions.

• In 2023, government laboratories allocated 40% of their budgets to LIMS implementation, reflecting the need for accurate and compliant data management systems. Private sector and academic institutions followed with 35% and 25% allocations, respectively.

• The number of laboratories using LIMS systems is projected to grow from 35,000 in 2020 to over 75,000 by 2032, showcasing a robust and consistent adoption trend.

Major Players Analysis Listed in this Report are:

• Thermo Fisher Scientific Inc. – Thermo Scientific SampleManager LIMS
• Siemens – Siemens Lab Automation LIMS
• LabVantage Solutions Inc. – LabVantage LIMS
• LabWare – LabWare LIMS
• PerkinElmer Inc. – LABWORKS LIMS
• Abbott – Abbott Informatics STARLIMS
• Autoscribe Informatics – Matrix Gemini LIMS
• Illumina, Inc. – GenoLogics LIMS
• Labworks – LABWORKS LIMS
• LabLynx, Inc. – LabLynx LIMS
• Computing Solutions, Inc. – CSols LIMS
• CloudLIMS.com (LabSoft LIMS) – CloudLIMS
• Ovation – Ovation LIMS
• LABTRACK – LABTRACK LIMS
• AssayNet Inc. – AssayNet LIMS
• Agilent Technologies – Agilent SLIMS (Scientific Laboratory Information Management System)

Laboratory Information Management System (LIMS) Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 2.29 billion
Market Size by 2032	US$ 4.61 billion
CAGR	CAGR of 8.12% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)
Key Growth Drivers	Demand for automation, regulatory compliance, and the rise of cloud-based and AI-powered solutions.

Segmentation Analysis

By Product

The cloud-based LIMS segment led the market in 2023, accounting for 45% of the total market share. Its dominance stems from features like scalability, cost-efficiency, and ease of remote access. Cloud solutions also lower infrastructure and maintenance costs, making them attractive to laboratories globally.

The web-hosted LIMS segment is growing rapidly, driven by its balance between on-premise and cloud systems. Offering centralized data management without heavy infrastructure investments, this segment is forecasted to exhibit substantial growth as laboratories prioritize secure and efficient data workflows.

By Component

The services segment captured over 60% of the market share in 2023. Its dominance is attributed to the essential role services play in system customization, training, integration, and compliance. Increasing reliance on professional support for smooth LIMS implementation underscores this segment's prominence.

The software segment is the fastest-growing, fueled by the integration of AI and ML for advanced analytics, automation, and seamless data management. This segment's expansion aligns with laboratories' shift toward digital transformation and improved operational efficiency.

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Laboratory Information Management System Market Key Segmentation:

By Product

• On-premise
• Web-hosted
• Cloud-based

By Component

• Software
• Services

By End-Use

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

LIMS Market Regional Overview

In 2023, North America led the Laboratory Information Management System (LIMS) market, capturing 38% of the global share. The region's dominance stems from its early adoption of advanced technologies, robust government funding, and a high concentration of pharmaceutical and biotechnology companies driving demand for efficient lab management solutions.

Asia Pacific emerged as the fastest-growing region, driven by increasing adoption rates in key markets like China and India. The region benefits from expanding healthcare infrastructure, rising R&D investments, and growing awareness about the advantages of LIMS in streamlining laboratory operations.

Meanwhile, Europe continues its steady growth trajectory, supported by strict regulatory requirements for laboratory data management and widespread LIMS adoption among clinical research organizations (CROs). The focus on compliance and data accuracy fuels the demand for LIMS across the region, reinforcing its position in the global market.

Recent Developments

• In November 2024, Sapio Sciences collaborated with Waters Corporation under a co-marketing agreement to enhance data integrity, streamline workflows, and improve laboratory productivity.
• In September 2024, LabVantage Solutions partnered with Henkel AG & Co. to integrate LIMS and SAP Product Lifecycle Management solutions, advancing R&D innovation and sustainability.
• In Sept 2024, Thermo Fisher Scientific launched Connect Edge, a solution designed to enhance connectivity and drive the advancement of digitized laboratory environments.
• In June 2024, Labguru (BioData) partnered with Thermo Fisher Scientific to distribute its advanced Electronic Lab Notebook (ELN) module alongside Thermo Fisher's comprehensive LIMS and lab operations software solutions, aiming to enhance life sciences research capabilities.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Market Penetration and Adoption Rates (2023)

5.2 Regional Trends in LIMS Implementation (2023)

5.3 Software and Cloud Usage Trends (2020-2032)

5.4 Spending on Laboratory Management Solutions by Region (Government, Private, and Academic Sectors), 2023

5.5 Volume of Labs Implementing LIMS (2020-2032)

5.6 Workflow Automation Trends in LIMS (2023)

5.7 Data Integration and Interoperability Trends in LIMS Market (2023)

6. Competitive Landscape

7. Laboratory Information Management System (LIMS) Market by Product

8. Laboratory Information Management System (LIMS) Market by Component

9. Laboratory Information Management System (LIMS) Market by End-Use

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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