“The global laboratory information management systems market is projected to grow at a CAGR of 12.1% during the forecast period (2020–2025)”
The global LIMS market is estimated to reach USD 1.7 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 12.1%. The increasing adoption of LIMS to comply with stringent regulatory requirements, technological advancements in LIMS offerings, increasing R&D expenditure in pharmaceutical and biotechnology companies, and the growing adoption of cloud-based LIMS are some of the factors driving the growth of this market. However, the high maintenance and service costs and the lack of integration standards for LIMS are expected to restrain the growth of this market.
“Services segment to grow at the highest CAGR during the forecast period”
Based on component, the LIMS market is segmented into services and software. The services segment is expected 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.
“Pharmaceutical and biotechnology companies segment to dominate the LIMS market for the life sciences industry”
Based on type, the LIMS market for the life sciences industry is segmented into pharmaceutical and biotechnology companies, biobanks and biorepositories, CROs & CMOs, clinical research laboratories, academic research institutes, toxicology laboratories, NGS laboratories, and forensic laboratories. The pharmaceutical and biotechnology companies segment accounted for the largest share of this market in 2019. The large share of this segment can be attributed to the increasing adoption of LIMS systems in pharmaceutical and biotechnology companies to automate laboratory workflows and improve operational efficiency.
“Market in Asia to witness the highest growth during the forecast period”
In 2019, North America accounted for the largest share of the global LIMS market, followed by Europe. However, the Asian market is estimated to grow at the highest CAGR during the forecast period primarily due to factors such as increasing outsourcing activities in several Asian countries due to the availability of low-cost and skilled labor and the increasing awareness and availability of LIMS.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 36%; Tier 2 - 46%; Tier 3 - 18%
- By Designation: C-level - 29%; D-level - 43%; Others - 28%
- By Region: North America - 39%; Europe - 29%; Asia - 20%; Rest of the World - 12%
List of companies profiled in the report
- LabWare (US)
- Thermo Fisher Scientific (US)
- Abbott Informatics (US)
- LabVantage Solutions (US)
- LabLynx (US)
- Autoscribe Informatics (US)
- Agilent Technologies (US)
- Computing Solutions (US)
- GenoLogics (Canada)
- LABWORKS (US)
- Dassault Syst?mes (France)
- Siemens (Germany)
- Accelerated Technology Laboratories (US)
- ApolloLIMS (US)
- Ovation (US)
- Novatek International (Canada)
- CloudLIMS (US)
- Eusoft (Italy)
- Horizon LIMS (US)
- Promium (US)
The report provides an overview of the LIMS market. It aims at estimating the market size and future growth potential of this market across different segments, such as type, component, deployment model, industry, and region. Furthermore, the report also includes an in-depth competitive analysis of key market players, along with their company profiles, recent developments, and key market strategies.
Reasons To Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies.
- Market Penetration: Comprehensive information on the product portfolios of the top players in the LIMS market. The report analyzes the market based on type, component, deployment model, industry, and region.
- Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the LIMS market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for LIMS solutions for various industries across regions.
- Market Diversification: Exhaustive information about products, untapped regions, and recent developments in the LIMS market.
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the LIMS market.