New York, Oct. 19, 2022 (GLOBE NEWSWIRE) -- Kenneth Research has published a detailed market report on ‘Global Laboratory Information Management System/LIMS Market’ for the forecast period, i.e. 2023– 2033 which includes the following factors:
- Market growth over the forecast period
- Detailed regional synopsis
- Market segmentation
- Growth drivers
- Challenges
- Key market players and their detailed profiling
Market Scope of Global Laboratory Information Management System/LIMS:
| Market Size Value in 2022 (Base Year) | ~ USD 1 Billion |
| Market Forecast Value in 2033 | ~ USD 3 Billion |
| Growth Rate (CAGR) of Laboratory Information Management System/LIMS Market (Global) | ~12% |
| Forecast Period of Laboratory Information Management System/LIMS Market (Global) | 2023 – 2033 |
Global Laboratory Information Management System/LIMS Market Size:
The global laboratory information management system/LIMS market is estimated to garner a revenue of around USD 3 billion by the end of 2033 by growing at a CAGR of ~12% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of nearly USD 1 billion in the year 2022. The primary factors driving the growth of the global laboratory information management system/LIMS market are the significant role of technology in the healthcare industry, and worldwide growth in the healthcare industry. For instance, there is a significant presence of hospitals in countries worldwide. As of 2020, the number of hospitals in Japan was more than 8200, while the count in the United States (U.S.) came up to 7000. The global market is further expected to be propelled by factors, such as, increased use of data analytics in labs, growth of automation in health care, and increasing digitalization across various enterprises around the world.
Get a Sample PDF of This Report @ https://www.kennethresearch.com/sample-request-10008208
Global Laboratory Information Management System/LIMS Market: Key Takeaways
- The North America region to gain the largest portion of the revenue by 2033
- The cloud-based sub-segment to dominate the revenue graph
- The hospitals & clinics sub-segment remains prominent in the end user segment
Rapid Digitalization across Various Sectors around the World to Boost Market Growth
The increasing demand to rise productivity rate across various enterprises, and increased insistence on ensuring regulatory compliance and preventing errors are expected to be responsible factors to drive the growth of the global laboratory information management system/LIMS market. For healthcare industry, LIMS services offer improved visibility and control required for managing changes associated with the complexity of patient data environment. It was noted that, enterprises across the globe, faced an average of 20 security breaches in 2020 and this number is estimated to grow over the forecast period. Hence, this is expected to fuel the growth of the global market significantly over the forecast period.
In addition to this, digitalization across various sectors has been increasing throughout the years and is expected to increase even more over the projected years. Along with that, expenditure behind digitalization is also growing rapidly. For instance, nearly 65% of the world’s Gross Domestic Product (GDP) is predicted to be digitized by 2022, and digitally transformed organizations are projected to contribute to more than half of the global gross domestic product (GDP) by 2023, accounting for nearly USD 54 trillion. Hence, this is estimated to be a major factor to propel the growth of the global laboratory information management system/LIMS market.
To Gain More Insights into the Global Laboratory Information Management System/LIMS Market Analysis, Browse Summary of the Research Report @ https://www.kennethresearch.com/report-details/laboratory-information-management-system-market/10008208
Global Laboratory Information Management System/LIMS Market: Regional Overview
The global laboratory information management system/LIMS market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Technological Advancements in Cloud Based Services to Propel the Market in the North America Region
The market in the North American region is projected to hold the largest market share by the end of 2033. This can majorly be ascribed to the increase in the number of healthcare facilities opting for cloud-based services in order to reduce their cost. Moreover, cloud friendly policies and laws by the government are adding to the market growth in the region. Furthermore, the U.S in the North America region is one of the countries with the best cloud based strategies. As per the U.S. Department of the Interior, a cloud smart strategy was introduced in the year 2018 that provides guidelines related to security, labor skills and procurement for faster cloud adoption. Moreover, technical advancements in cloud- managed systems and enterprise Internet of Things (IoT) applications, and being a highly developed region in healthcare industry are estimated to be prime factors to fuel the growth of the laboratory information management system/LIMS market in North America region.
Rapid Development in Healthcare Infrastructure to Favor Market Growth in the Asia Pacific Region
On the other hand, market in the Asia Pacific region is estimated to witness a significant growth during the forecast period. The market growth can be majorly attributed to rapid development in healthcare infrastructure, along with the government’s support to digitalized services. Moreover, increasing funding in healthcare infrastructure, and increasing health expenditure in regional GDP are expected to influence the growth of the laboratory information management system/LIMS market. As per The World Bank, in the year 2019, share of global health expenditure in East Asia & Pacific region accounted to 6.67% of GDP.
Get a Sample PDF of Global Laboratory Information Management System/LIMS Market @ https://www.kennethresearch.com/sample-request-10008208
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in:
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
Global Laboratory Information Management System/LIMS Market, Segmentation by Deployment Type
- Cloud-Based Delivery Mode
- On-Premises Delivery Mode
- Web-Based Delivery Mode
The cloud-based segment is anticipated to hold the largest market size by the end of 2033. This can be accredited to the lower cost and high rate of awareness among different sectors related to the cloud, increasing internet penetration among individuals across the globe. According to The World Bank, individuals using the internet was 40% of global population in 2015, and in 2020, the percentage had increased to 60% of global population.
Access full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.kennethresearch.com/sample-request-10008208
Global Laboratory Information Management System/LIMS Market, Segmentation by End-User
- Hospitals & Clinics
- Pharmaceuticals Companies
- Contract Research Organizations
- Others
The hospitals & clinics segment is estimated to hold a substantial market share in the laboratory information management system/LIMS market during the forecast period. The growth of the segment can be accredited to the existence of a huge patient pool in the hospital facilities requiring clinical treatment. Furthermore, rising healthcare expenditure per capita worldwide is also estimated to propel the growth of this segment. According to the data by The World Bank, as of 2019, current health expenditure per capita among the global population was USD 1,121.97.
Global Laboratory Information Management System/LIMS Market, Segmentation by Component
- Software
- Services
Few of the well-known market leaders in the global laboratory information management system/LIMS market that are profiled by Kenneth Research are Abbott Laboratories, Autoscribe Informatics, Illumina, Inc., LabLynx LIMS (Laboratory Information Management System), LabVantage Solutions Inc., LabWare Ltd, Agilent Technologies, Inc., Thermo Fisher Scientific, PerkinElmer Inc., Siemens, and others.
Do You Have Any Query or Specific Requirement? Ask to Our Expert: https://www.kennethresearch.com/sample-request-10008208
Recent Developments in the Global Laboratory Information Management System/LIMS Market
- In August 2022, Matrix Gemini version 6.5 was released by Autoscribe Informatics with new web browser applications to satisfy the changing needs of contemporary laboratory informatics systems.
- In June 2022, in order to improve lab operations and eliminate errors, LabVantage Solutions Inc. announced that it has signed a contract with Holo4Labs (H4L) to integrate H4L's mixed reality software solution with its cutting-edge LIMS platform.
Browse More Related Reports:
One-Step ELISA Market Analysis by Application (Hospitals & Clinics, Diagnostic Centers, Pharmaceutical Companies, and Research Centers); by Sample Type (Tissue Lysate, Plasma, & Serum, and Others); and by Target Molecule (Insulin, Albumin, IgG, TNF Alpha, Lysozyme, IL-6, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
Mental Health Software and Devices Market Segmentation by Component (Software, and Devices); by Software Delivery Model (Subscription, and Ownership Model); by Functionality (Clinical, Administrative, and Financial Functionality); by Mode of Access (Desktops/Laptops, and Tablets/Smartphone); and by End-User (Community Clinics, Hospitals, Private Practices, and Home Care Settings)-Global Demand Analysis & Opportunity Outlook 2020-2030
Nutraceutical Excipients Market Analysis by Product Type (Binders, Disintegrants, Fillers & Diluents, Coating Agents, and Flavoring Agents, Lubricants, and Others); by End Use (Prebiotics, Probiotics, Proteins & Amino Acids, Omega 3 Fatty Acids, Vitamins, Minerals and Others); and by Form (Dry and Liquid)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
Vapor Deposition Market Analysis by End-Use (Automotive, Electrical & Electronics, Aerospace, and Others); by Process Type (Physical, and Chemical Vapor Deposition); and by Application (Medical Devices, and Equipment, Microelectronics, Decorative Coatings, Cutting Tools, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2022-2031
Digital Pathology Market Analysis by End User (Pharma & Biotech Companies, Hospitals & Clinics, and Diagnostic Labs); by Application (Disease Diagnosis, Teleconsultation, Drug Discovery, and Others); and by Product Type (Software, Scanner, Storage, Artificial Intelligence, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2033
About Kenneth Research
Kenneth Research is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
Contact for more Info:
AJ Daniel
Email: info@kennethresearch.com
U.S. Phone: +1 313 462 0609
Web: https://www.kennethresearch.com/
