Laboratory Information Management System Market to Grow at a CAGR of 13.2% to reach USD 2.1 billion by 2026

The report "Laboratory Information Management System (LIMS) Market is projected to reach USD 2.1 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 13.2%. Growth of this market is attributed to the increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS.



Key Players:

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), and Accelerated Technology Laboratories (ATL).

Download PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250610373

The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.

Coronavirus disease 2019 (COVID‐19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS‐CoV‐2). Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The state of urgency to combat the outbreak led pharma & biotech companies, researchers, various diagnostic labs, and testing facilities conducting COVID-19 research to adopt advanced technologies and solutions exceeding traditional avenues to improve workflows. Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps (such as test management, sample handling, inventory control, packaging, and shipment). Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of informatics solutions, such as LIMS, which enhance research and testing activities, along with efficient data management.

Industry-specific LIMS segment is projected to record the highest CAGR

Based on type, the LIMS market is segmented into broad-based LIMS and industry-specific LIMS. The broad-based LIMS segment accounted for the largest share of the market in 2020. Broad-based LIMS solutions provide users with significant room for customization and interpretation that can support multiple businesses across different geographic locations; these factors are driving the adoption of broad-based LIMS. Furthermore, broad-based LIMS solutions also help streamline laboratory workflow processes and improve decision-making and reporting.

Request Sample Pages:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=250610373

Services segment is expected to register the highest growth during the forecast period

Based on the component, the LIMS market is segmented into software and services. Services accounted for the largest share of the market in 2020. This segment is projected to register the highest CAGR during the forecast period. The large share of the services segment can be attributed to the recurring requirement of services, such as training, software upgradation, and software maintenance post-installation.

Cloud based segment is estimated to record the highest CAGR in the forecast period.

Based on the deployment model, the LIMS market is segmented into on-premise, cloud-based, and remotely hosted LIMS. In 2020, the on-premise LIMS segment commanded for the largest share of the market. The large share of this segment can be attributed to the fact that these solutions are more customizable and have minimum risk associated with data breaches and external attacks.

Life sciences segment is estimated to record the highest CAGR in the forecast period.

Based on industry, the LIMS market is broadly segmented into seven categories—life sciences, chemical, food & beverage and agriculture, environmental testing, petrochemical refineries and oil & gas, forensics, and other industries. Life sciences commanded the largest share of the LIMS market, by industry, in 2020. Factors such as growth in the outsourcing of various pharma and biotech processes, increasing stringency of regulations, the increasing number of biobanks/biorepositories, and growing R&D investments/activities in pharmaceutical and biotechnology companies are responsible for the growth of this segment.

Buy Now:

https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=250610373

North America to Witness Significant Growth From 2021 To 2026

In 2020, North America commanded the largest share of the market, followed by Europe. North America’s dominance in the market can be attributed to the strong economies of the US and Canada, which have allowed for significant investments in new technologies, growth in biobanks, easy availability of LIMS products and services, and stringent regulatory requirements across industries.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Aashish Mehra

MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: 1-888-600-6441

Email: sales@marketsandmarkets.com

Related Report:

Lab Automation Market:

https://www.marketsandmarkets.com/Market-Reports/lab-automation-market-1158.html

North America Healthcare Cloud Computing Market:

https://www.marketsandmarkets.com/Market-Reports/north-america-healthcare-cloud-computing-market-54089599.html

Laboratory Equipment Service Market:

https://www.marketsandmarkets.com/Market-Reports/laboratory-equipment-service-market-171213101.html

Lab Informatic Market:

https://www.marketsandmarkets.com/Market-Reports/lab-informatic-market-203037633.html

Comments

Post a Comment

Popular posts from this blog

Urology Devices Industry worth $48.6 billion by 2028

 The global urology devices market , valued at US$32.6 billion in 2022, is forecasted to grow at a robust CAGR of 7.3%, reaching US$34.1 billion in 2023 and an impressive US$48.6 billion by 2028. Investments by hospitals in procuring advanced instruments, expanding units, and establishing new centers are expected to boost the market for urology devices. Moreover, increased demand for MIS robotic systems is expected to increase in the coming years, which is expected to propel the market growth. Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173062212 Browse in-depth TOC on “Urology Devices Market” 159 — Tables 44 — Figures 274 — Pages In 2022, the instruments segment held the largest share of the urology devices market by product segment. The urology devices market is segmented into instruments and consumables & accessories based on products. The instruments segment accounted for the largest share of the urology devices market in 2022....
Read more

Healthcare Simulation Market worth $4.6 billion by 2028

Image
The global healthcare simulation market is projected to reach USD 4.6 billion by 2028 from USD 2.2 billion in 2023, at a high CAGR of 15.7% during the forecast period. The market's expansion is fuelled by an advancement in technology, such as high-fidelity manikins and virtual reality that have enhanced the realism and effectiveness of simulation training, for instance, high-fidelity simulators like Apollo (by Elevate Healthcare (formerly CAE)) and Nursing Anne Simulator (by Laerdal Medical) accelerates learning, reduces training time, and improves debriefing with automated patient responses; the growing complexity of modern medical procedures which requires training solutions offered by simulation. Further, the increasing number of medical schools is also propelling this market. For instance, according to Ministry of Health and Family Welfare, in India, the number of medical colleges has risen by 82%, from 387 before 2014 to 706 for the year 2024. Healthcare Simulation Market – G...
Read more

Bronchoscopy Market Size Worth USD 3.7 billion By 2027 | CAGR: 7.9%: MarketsandMarkets™

Image
 The report " Bronchoscopy Market by Product Bronchoscopes (Flexible, Rigid, EBUS), Imaging Systems (Video Processors), Accessories (Cytology Brushes), Application (Bronchial Treatment), Usability (Reusable), & End Users (Hospital, ACSs/Clinic)- Global Forecast to 2027", is projected to reach USD 3.7 billion by 2027 from USD 2.5 billion in 2022, at a CAGR of 7.9% during the forecasted period (2022 to 2027). Browse in-depth TOC on " Bronchoscopy Market" 301- Tables 48- Figures 289- Pages Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=40057877 The growth in this market growth is largely driven by the rising prevalence of respiratory diseases, the growing demand for minimally invasive surgeries, growing hospital investments in bronchoscopy facilities, and technological advancements in bronchoscopes. On the other hand, the dearth of trained physicians and pulmonologists is a major challenge to the growth of this market...
Read more