Redding, California, March 29, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Laboratory Information Management System (LIMS) Market by Mode of Delivery (On-premise, Cloud), Component (Service, Software), Type (Multi-purpose, Purpose-built), End User (Life Science, Food & Beverage, Petrochemical, Chemical) - Global Forecast to 2030”, published by Meticulous Research®, laboratory information management system market is expected to grow at a CAGR of 7.4% from 2023 to 2030 to reach $2.92 billion by 2030.
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A laboratory information management system (LIMS) is software that supports laboratory operations. LIMS helps to integrate instruments, automate workflows, and manage samples & associated information. It helps to improve lab productivity and efficiency.
LIMS tracks and stores information about a sample from when it enters a laboratory until it has undergone processing. Nowadays, it has transformed into an enterprise resource planning tool that manages multiple aspects of laboratory informatics. Advantages include streamlined workflow, improved laboratory efficiency, elimination of human errors, support in regulatory compliance, inventory tracking, and increased revenue. The LIMS market has been transformed by incorporating artificial intelligence (AI), machine learning (ML) and advancement in biostatistics.
The global laboratory information management system market study presents historical market data in terms of values (2021 and 2022), estimated current data (2023), and forecasts it for 2030 – by Mode of Delivery (On-premise LIMS and Web-based & Cloud-based LIMS), Component (Service and Software), Type (Multi-purpose LIMS and Purpose-built LIMS), End User (Life Sciences {Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Biobanks & Biorepositories, CROs, and Others}, Food & Beverage, Chemical Industry, Petrochemicals & Oil & Gas Industry, Environmental Testing Laboratories, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Based on mode of delivery, the web-based and cloud-based LIMS segment is expected to account for the largest share of the market in 2023. Many organizations are turning towards deploying web-based and cloud-based LIMS as it offers data accessibility from multiple locations, multiple systems, and multiple branches. The factors contributing to the largest share of the market are cost-effectiveness and scalability offered by web & cloud-based LIMS.
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Based on component, the services segment is expected to account for the largest share of the market in 2023. Increased demand for cloud services; rise in lab automation; recurring nature of services including consulting, LIMS implementation, integration, maintenance, validation, & other lab informatics services; and evolving regulatory requirements contribute to the largest market share.
Based on type, the purpose-built LIMS segment is estimated to grow at the highest CAGR during the forecast period. Purpose-built LIMS improves financial efficiencies and saves time. It also helps manage the industry-standard workflow consistently, which helps in attaining better efficiency and productivity.
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Based on end user, the life sciences segment is expected to account for the largest share of the market in 2023. Increased concern over data integrity, validity, & security due to regulatory pressures on pharmaceutical companies, rise in R&D activities, and concern over cost efficiency & productivity are the factors contributing to the largest market share.
Geographically, the laboratory information management systems market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with a further analysis of major countries in these regions. In 2023, North America is expected to account for the largest share of the market. North America’s large share is mainly attributed to the increased adoption and investment in advancing technologies, ease in availability of LIMS services and products, and stringent regulatory requirements in various end-user industries.
The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past three years (2020–2022). In the last couple of years, the global laboratory information management system market has witnessed product launches, collaborations, agreements, and expansions.
Some of the key players operating in the global laboratory information management system market are LabWare (U.S.), Thermo Fisher Scientific Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabLynx, Inc. (U.S.), Labworks (U.S.), Agilent Technologies, Inc. (U.S.), Labii Inc. (U.S.), Accelerated Technology Laboratories, Inc. (U.S.), LABTRACK (U.S.), Computing Solutions, Inc. (U.S.), Dassault Systèmes (France), Ovation (U.S.), CloudLIMS (U.S.), STARLIMS Corporation (U.S.), Autoscribe Informatics (U.S.), Illumina, Inc. (U.S.), Siemens (Germany), and Novatek International (Canada).
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Scope of the Report:
Laboratory Information Management System Market, by Mode of Delivery
- On-Premise LIMS
- Web-based and Cloud-based LIMS
Laboratory Information Management System Market, by Component
- Service
- Software
Laboratory Information Management System Market, by Type
- Multi-purpose LIMS
- Purpose-built LIMS
Laboratory Information Management System Market, by End User
- Life Sciences
- Pharmaceutical & Biotechnology Companies
- Academic and Research Institutes
- Biobanks & Biorepositories
- CROs
- Others
- Food & Beverage
- Chemical Industry
- Petrochemicals and Oil & Gas Industry
- Environmental Testing Laboratories
- Other End Users
Note: Others include diagnostic laboratories and toxicology laboratories
Other end users include forensic laboratories, mining & metal laboratories, and contract manufacturing organizations (CMOs)
Laboratory Information Management System Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of APAC (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America (RoLATAM)
- Middle East & Africa
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