Selbyville, Delaware, Oct. 31, 2023 (GLOBE NEWSWIRE) --
Laboratory Information Management System (LIMS) Market size will reach USD 2.5 billion by 2032, according to the latest research report by Global Market Insights Inc. The report cites that stringent regulatory requirements across several economies will favor industry expansion over 2023-2032.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/6301
Regulatory agencies such as the FDA (Food and Drug Administration) and ISO (International Organization for Standardization) impose strict guidelines on data management, sample tracking, and quality control in laboratories. LIMS helps organizations adhere to these regulations by providing a structured framework for data management and audit trails, which is crucial for maintaining compliance. The need to meet these regulatory requirements is a significant driver for the adoption of LIMS.
LIMS software to witness high demand
The laboratory information management system market from the software segment will garner notable gains throughout 2023-2032. LIMS software is gaining popularity due to its pivotal role in streamlining data management and ensuring compliance in an increasingly data-driven world. As laboratories generate vast datasets, LIMS provides a structured framework for organizing, analyzing, and maintaining data integrity. For instance, in pharmaceutical research, LIMS accelerates drug discovery by efficiently tracking samples and experiments, reducing errors, and ensuring adherence to stringent regulatory standards.
On-premise LIMS to gain popularity
The on-premise segment could capture a decent laboratory information management system market share by 2032. The demand for on-premise Laboratory Information Management Systems (LIMS) remains strong in certain industries where data security, control, and regulatory compliance are paramount. For instance, in government laboratories handling sensitive information or in highly regulated sectors like healthcare and nuclear research, organizations prefer on-premise LIMS to maintain strict control over data access and storage. These industries often need to adhere to stringent data protection regulations and cannot rely on external cloud solutions due to security concerns. On-premise LIMS offers the necessary control and customization, making it the preferred choice in such contexts.
CROs to emerge as a prominent end-user
Contract Research Organizations segment could dominate the end-user landscape of the laboratory information management system market through 2032. Laboratory Information Management Systems (LIMS) are gaining popularity among Contract Research Organizations (CROs) due to their ability to enhance operational efficiency and meet the stringent requirements of their clients. CROs serve various industries, including pharmaceuticals, biotechnology, and healthcare, where precise data management is crucial. LIMS allows CROs to efficiently manage and track samples, experiments, and data, ensuring data integrity and timely project delivery. For example, a CRO involved in clinical trials can use LIMS to streamline sample tracking and ensure regulatory compliance, ultimately bolstering its reputation and competitiveness in a highly demanding industry.
APAC to dominate the regional landscape
Asia Pacific laboratory information management system market is experiencing robust progress due to several key factors. Rapid industrialization, increased research and development activities, and stringent regulatory requirements are driving the demand for Laboratory Information Management Systems (LIMS). For instance, the pharmaceutical and healthcare sectors in countries like India and China are expanding significantly, leading to a surge in the need for LIMS solutions to manage data efficiently and ensure compliance with global quality standards.
Request for Report Customization @ https://www.gminsights.com/roc/6301
Laboratory information management system market players
Notable players in the LIMS industry include Waters Corporation, LabWare, PerkinElmer, Inc., LabLynx, Inc., Benchling, Inc., STARLIMS Corporation, LabVantage Solutions, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., and Agaram Technologies Pvt Ltd. These industry players predominantly employ diverse strategies such as forming collaborations, executing acquisitions, engaging in mergers, and establishing partnerships to expand their global presence and maintain competitiveness in the market.
Partial Table of Contents (ToC) of the report:
Browse Our Reports Store - GMIPulse @ https://www.gminsights.com/gmipulse
Chapter 3 Laboratory Information Management System (LIMS) Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising demand of scientific data integration solutions
3.2.1.2 Increasing need for clinical workflow management
3.2.1.3 Increasing availability of cost-effective informatics solutions
3.2.1.4 Technological advancements in software solutions
3.2.2 Industry pitfalls & challenges
3.2.2.1 Dearth of integration standards
3.2.2.2 Lack of skilled professionals
3.3 Growth potential analysis
3.3.1 By component
3.3.2 By deployment
3.3.3 By end-use
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.5.1 U.S.
3.5.2 Europe
3.6 Technology landscape
3.7 Porter's analysis
3.8 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
