The global laboratory information management systems market is expected to reach US$ 1,475.6 Mn in 2025 from US$ 742.8 Mn in 2017.
The global laboratory information management systems market is expected to reach US$ 1,475.6 Mn in 2025 from US$ 742.8 Mn in 2017. The market is estimated to grow with a CAGR of 9.2% from 2018-2025.
The market is likely to witness a rapid growth owing to factors such as rising adoption of automation in laboratories and technological advancements in laboratory information management systems. Additionally, the market is also likely to be accelerated by potential market in the emerging nations is expected to offer significant growth opportunities to the market players to capitalize and expand its customer base in Asian and Latin American regions. However, the shortage of skilled IT technicians and high costs of the LIMS are likely to have a negative impact on the growth of the market in the coming years.
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Laboratory information management systems market Segmentation:
Laboratory information management systems market is segmented by type deployment, component, application, end user, and geography. Global laboratory information management systems market, based on the type was segmented into standalone systems and integrated systems.
Laboratory Information Management Systems (LIMS) is a software that is used for managing various tasks in the laboratory including workflow management, integrate instruments, records management, logistics management, enterprise resource planning, decision making, privacy and security controls. Laboratories generate ample amount of data which can be managed through LIMS. The report would be of an interest to various stakeholders operating in the laboratory information management systems market. These stakeholders include laboratory information management systems manufacturers, vendors, and distributors, research institutes and government organizations, venture capitalists and other government funding organizations, research and consulting firms, healthcare institutions and others.
The objective of the study is to describe, define, and forecast the laboratory information management systems market by type and region. The report also provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and trends). The report helps to analyze market with respect to individual growth trends, prospects, and contributions to the overall market.
The report analyzes factors affecting laboratory information management systems market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South & Central America after evaluating political, economic, social and technological factors effecting the market in these regions. The report also includes the profiles of key laboratory information management systems manufacturing companies along with their SWOT analysis and market strategies.
Key market players of Laboratory information management systems market are Thermo Fisher Scientific, Inc., LabLynx, Inc., LABWORKS, Illumina, Inc., Abbott, LabVantage Solutions, Inc., Accelerated Technology Laboratories, Inc., Autoscribe Informatics, LabSoft LIMS by Computing Solutions, Inc., and LabWare among others. The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature.
For instance, in August 2015, Abbott Informatics announced the release of STARLIMS Technology Platform v11.1. The STARLIMS solution simplifies complex processes, uses analytics to connect the dots, and makes data available on the go. Moreover, in October 2018, Abbott announced the launch of version 11.6 of the world-class STARLIMS Laboratory Information Management System (LIMS). Additionally, in January 2017, LabVantage Solutions, the leading global laboratory informatics provider, announced the release of LabVantage 8 Pharma. The solution provides the pharmaceutical industry with a pre-validated, pre-configured LIMS. The goal of the solution is to reduce cost, reduce risk and improve lab efficiency overall.
The report segments the global laboratory information management systems market as follows:
Global Laboratory Information Management Systems Market - By Type
Standalone
Integrated
Global Laboratory Information Management Systems Market - By Deployment
Web-Based Delivery Mode
Cloud-Based Delivery Mode
On-Premise Delivery Mode
Global Laboratory Information Management Systems Market - By Component
Software
Services
Global Laboratory Information Management Systems Market - By Application
Sample Management
Workflow Automation
Records Management
Decision Making
Enterprise Resource Planning
Logistics Management
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