Laboratory Information Management System Market

Laboratory Information Management System Market / LIMS Market Size, Share & Trends by Type (Industry), Component (Software, Service), Deployment (On-premise, Cloud (SaaS, PaaS, Iaas)), Size (Mid), Industry (Pharma, NGS, Chemical, Agri, FnB, Oil), & Region - Global Forecast to 2029

Report Code: HIT 3061 May, 2024, by marketsandmarkets.com

Laboratory Information Management System Market Size, Share & Trends

The size of global laboratory information management system market in terms of revenue was estimated to be worth $2.1 billion in 2024 and is poised to reach $3.8 billion by 2029, growing at a CAGR of 12.9% from 2024 to 2029. The comprehensive research encompasses an exhaustive examination of industry trends, meticulous pricing analysis, patent scrutiny, insights derived from conferences and webinars, identification of key stakeholders, and a nuanced understanding of market purchasing dynamics.

Emerging markets, including China, India, Japan, Singapore, Brazil, and Middle Eastern countries, present substantial growth opportunities for the Laboratory Information Management Systems (LIMS) market. The increasing adoption of cloud-based LIMS, driven by the large volumes of data generated in laboratories and the associated reduction in the total cost of ownership for laboratory informatics solutions, is a noteworthy trend.

Nevertheless, challenges such as a lack of technical expertise and interoperability issues pose significant obstacles to the growth of the LIMS market.

Laboratory Information Management System Market Trends

Laboratory Information Systems (LIMS) Market

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Laboratory Information Systems (LIMS) Market

Laboratory Information Management System Market Dynamics

Driver: Growing use of LIMS to comply with stringent regulatory requirements

Automating routine lab procedures with the help of devoted workstations and software improves lab productivity and enables individual researchers to focus on important tasks. This is a major factor driving the adoption of informatics in the pharmaceutical and biotechnology industry. According to a study, error rates for fully automated operations vary from 1–5%, those for semi-automated operations range from 1–10%, while those for manual operations vary from 10–30% (Source: Journal of Lab Automation).

Pharmaceutical and biotechnology companies across various countries face significant pressure to adhere to strict regulatory guidelines for preclinical and clinical testing before launching new drugs into the market. Regulatory requirements such as 21 CFR Part 11 and the Clinical Laboratory Improvement Amendments (CLIA) mandate comprehensive documentation and audit trails covering the entire process from research and development to testing, production, and quality control. Additionally, companies must comply with guidelines for appropriate labeling and advertising.

Due to concerns over data management and security, many laboratories are increasingly adopting LIMS to streamline their workflows and ensure compliance with stringent regulatory standards. These systems enable laboratories to meet regulatory requirements while maintaining process flexibility. As a result, the demand for LIMS solutions in laboratories operating within target industries is expected to rise during the forecast period.

Restraint: High maintenance and service costs

The high maintenance and service costs associated with LIMS solutions can significantly impact the growth of the LIMS market. While LIMS solutions offer numerous benefits in terms of streamlining laboratory workflows and improving data management, the costs involved in maintaining and servicing these systems can pose challenges for organizations, especially smaller laboratories or those with limited budgets.

Limited budgets may force organizations to allocate resources to other critical areas, resulting in delayed or limited LIMS implementation. As a result, the growth potential of the LIMS market may be hindered, as a significant portion of potential customers may find it financially unfeasible to invest in expensive maintenance and service contracts.

Additionally, organizations carefully evaluate the ROIs before investing in LIMS. High maintenance and service costs can impact the perceived value and ROIs of these solutions. If the costs outweigh the anticipated benefits, organizations may be reluctant to adopt or expand their use of LIMS. This hesitation can slow market growth as potential customers seek alternative solutions or postpone their adoption plans.

To mitigate the impact of high maintenance and service costs, LIMS providers can explore options such as tiered pricing models, cloud-based solutions with subscription-based pricing, or service agreements that offer flexible support packages. Additionally, ensuring transparent cost structures, clearly outlining the value-added services, and providing customer-centric support can help alleviate concerns and foster the growth of the LIMS market.

Opportunity: Growing use of LIMS in cannabis industry

Medical cannabis has demonstrated effectiveness in a range of medical applications, including alleviating chemotherapy-induced nausea, stimulating appetite in AIDS patients, managing muscular spasms in multiple sclerosis patients, and reducing intraocular pressure in glaucoma patients. Due to these potential health benefits, numerous countries and states have legalized medical cannabis. This legalization has spurred the emergence of cannabis testing laboratories, which offer quality control services for the medical cannabis industry.

LIMS solutions help cannabis testing laboratories effectively manage the data generated while testing for potency, heavy metal content, pesticide level, microbial analysis, and residue. These systems can be integrated with various laboratory instruments for data capture and report generation. They also support electronic signatures in workflows and ensure compliance with the FDA CFR 21 Part 11 regulations. Considering these advantages, cannabis testing laboratories, especially in major markets such as the US, have adopted LIMS solutions. For instance, of 250 cannabis testing laboratories in the US, as many as 85 use cannabis LIMS (Source: Expert Interviews and MarketsandMarkets Analysis); this number is expected to grow in the coming years with the legalization of cannabis in more states in the US.

Some of the commercially available cannabis LIMS solutions are CannaLIMS by CannaSys, Inc. (US); Sample Master, TITAN, and Result Point by Accelerated Technology Laboratories, Inc. (US); LabLynx LIMS by LabLynx (US); and Matrix Gemini by Autoscribe Informatics (US).

Challenge: Dearth of trained professionals

With the growing trend towards digitization, the healthcare industry's adoption of IT solutions has surged significantly over the past decade. This has led to an increased demand for skilled IT professionals and individuals with advanced analytical capabilities to interpret data from CIT solutions, including LIMS. However, a substantial gap exists between the supply and demand for these skilled professionals, which may hinder the adoption of LIMS, especially in pharmaceutical, biotechnology, and medical device companies, which represent over 50% of the LIMS market.

The US Department of Labor's Bureau of Labor Statistics has projected a 13% growth in the employment of medical laboratory technologists and technicians, from 335,700 in 2016 to 378,400 by 2026. Despite this growth, the University of Minnesota has highlighted an annual shortfall of approximately 4,500 laboratory professionals, which was expected to rise to around 9,000 per year by 2018. This shortage of skilled manpower constrains the adoption and use of complex software solutions in laboratories. Moreover, due to severe time constraints and increasing budget cuts, CROs and pharmaceutical companies are hesitant to allocate resources for training their research staff. These challenges are anticipated to limit the adoption of LIMS to a certain extent in the coming years.

Laboratory Information Management System Industry Ecosystem

The LIMS market ecosystem includes various stakeholders such as data center providers, cloud professional service vendors, software developers, and participants from the life sciences industry (including pharmaceutical and biotechnology companies, biobanks, biorepositories, contract service organizations, academic research institutes, clinical research laboratories, toxicology laboratories, and NGS labs). Additionally, it encompasses industries like petrochemical refineries, oil and gas, chemicals, food and beverage, agriculture, environmental testing, forensic laboratories, and others.

Laboratory Information Systems (LIMS) Market Ecosystem

Source: Secondary Literature, Interviews with Experts, and MarketsandMarkets Analysis

Software as a service (SaaS) segment accounted to hold a significant share in the laboratory information management system industry, by the cloud-based deployment mode during the forecast period

The laboratory information management system market is segmented into software-as-a-service, infrastructure-as-service, and platform-as-a-service, by cloud deployment. In 2023, the software-as-a-service (SaaS) segment is expected to command a substantial share in the cloud-based deployment mode throughout the forecast period. The growth of the SaaS segment is attributed to its ability to seamlessly integrate data from various cloud silos, offer unlimited user access from any location, maintain low costs of maintenance, and optimize resource utilization. Additionally, the diverse applications provided by the SaaS model, spanning areas such as accounting, performance monitoring, and communication through webmail and instant messengers, further contribute to the expansion of this segment.

Biobanks & biorepositories segment accounted for a considerable share in the laboratory information management system industry, by the life sciences industry in 2023”

In 2023, the biobanks & biorepositories segment accounted for a significant share of the laboratory information management system market, by the life sciences industry. The significant share in this segment is linked to the escalating demand for biobanks, driven by pharmaceutical companies' heightened focus on epidemiology research, biomedical research, personalized medicine, and cell-based research. These areas necessitate well-maintained specimens, prompting an increased need for automated storage, preparation, and information management systems to ensure the acquisition of accurate, reliable, and standardized data.

North America dominated the laboratory information management system industry in 2023

The laboratory information management system market is segmented into five major regions- North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the Laboratory Information Management Systems (LIMS) market. This growth is propelled by factors such as the region's high per-capita healthcare expenditure, continuous innovation in laboratory technologies, and the integration of LIMS with Enterprise Resource Planning (ERP) and Clinical Decision Support (CDS) systems. The accessibility to advanced healthcare facilities and the increasing number of biobanks further contribute to the expanding LIMS market in North America. Additionally, the emphasis on quality control, regulatory compliance, and the adoption of digitization in laboratory processes are driving the demand for LIMS solutions in the region. Overall, the North American market's robust growth in the LIMS sector can be attributed to a combination of technological advancements, regulatory requirements, and the healthcare industry's evolving needs.

Laboratory Information Systems (LIMS) Market by Region

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Prominent companies in this market include LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Systèmes (France), Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), Computing Solutions, Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Siemens (Germany), Novatek International (Canada), Ovation (US), Clinsys (US), Eusoft Ltd. (Italy), Caliber International (US), LABTrack (US), Agilab SAS (US), Agaram Technologies (India), and AssayNet Inc. (Canada), Blaze Systems Corporation (US), and LabLogic Systems Limited (UK).

Scope of the Laboratory Information Management Systems Industry:

Report Metric

Details

Market Revenue in 2024

$2.1 billion

Projected Revenue by 2029

$3.8 billion

Revenue Rate

Poised to Grow at a CAGR of 12.9%

Market Driver

Growing use of LIMS to comply with stringent regulatory requirements

Market Opportunity

Growing use of LIMS in cannabis industry

The study categorizes the laboratory information management systems market to forecast revenue and analyze trends in each of the following submarkets

By Type
  • Broad-based LIMS
  • Industry-specific LIMS
By Component
  • Software
  • Services
  • Support
By Deployment Model
  • On-premise LIMS
  • Cloud LIMS
    • Software-as-a-service
    • Infrastructure-as-a-service
    • Platform-as-a-service Others
  • Remotely Hosted LIMS
By Company Size
  • Large Companies
  • Medium companies
  • Small Companies
By Industry
  • Life Sciences
    • Pharmaceutical & Biotechnology Companies
    • Biobanks & Biorepositories
    • Contract Service Organizations
    • Academic Research Institutes
    • Clinical Research Laboratories
    • Toxicology Laboratories
    • NGS Laboratories
  • Food & Beverage And Agriculture
  • Petrochemicals And Oil & Gas
  • Chemicals
  • Environmental Testing
  • Forensics
  • Other Industries
By Company Size
  • Large companies
  • Mid Sized Companies
  • Small Companies
By Region
  • North America
    • US
    • Canada
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • RoE
  • Asia
    • Japan
    • China
    • India
    • RoAPAC
  • Latin America
  • Middle East & Africa
    • GCC countries
    • Rest of Middle East & Africa

Recent Developments of the Laboratory Information Management Systems (LIMS) Industry:

  • In February 2024, Labware has inaugurated its newest office in Seoul, Korea and established LabWare Korea Co., Ltd. This office will provide localized support, training, and implementation services to LabWare's growing customer network in Korea. Staffed by experienced LIMS professionals, the office aims to strengthen LabWare's foothold in the Asia-Pacific region by offering tailored solutions to meet the unique needs of Korean organizations.
  • In January 2024, STARLIMS has launched Life Sciences for Public Health (LPH) 1.0, a LMS tailored for the Public Health sector. Featuring HTML5 browser-based technology, it signifies a significant advancement, promising a modernized user interface and enhanced functionalities. The release marks the beginning of a comprehensive, multi-year product roadmap aiming to elevate user experience and innovation in the Public Health LIMS market.
  • In Novemeber 2023, LabWare (US) partnered with Körber (US). This partnership was carried to seamlessly integrate capabilities between LabWare's Laboratory Information Management System (LIMS) and Körber's Manufacturing Execution System (MES) - PAS-X.
  • In October 2022, LabVantage Solutions, Inc. (US) and Biomax Informatics AG (Germany) finalized their merger agreement, with the goal of elevating scientific data contextualization, expediting product development, and delivering innovative capabilities for the life science and bio-manufacturing industries.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION 
    1.1 OBJECTIVES OF THE STUDY 
    1.2 MARKET DEFINITION 
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
           1.3.2 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY 
    1.5 STAKEHOLDERS 
    1.6 SUMMARY OF CHANGES 
    1.7 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY 
    2.1 RESEARCH APPROACH 
    2.2 SECONDARY DATA 
           2.2.1 KEY DATA FROM SECONDARY SOURCES
    2.3 PRIMARY DATA 
           2.3.1 KEY DATA FROM PRIMARY SOURCES
           2.3.2 BREAKDOWN OF PRIMARIES
           2.3.3 KEY INDUSTRY INSIGHTS
    2.4 MARKET SIZE ESTIMATION 
           2.4.1 BOTTOM UP APPROACH
           2.4.2 TOP DOWN APPROACH
    2.5 MARKET SHARE ESTIMATION 
    2.6 DATA TRIANGULATION APPROACH 
           2.6.1 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET ANALYSIS THROUGH PRIMARY INTERVIEWS
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RISK ASSESSMENT 
    2.9 RESEARCH LIMITATIONS 
           2.9.1 METHODOLOGY RELATED LIMITATIONS
           2.9.2 SCOPE RELATED LIMITATIONS
    2.1 IMPACT OF RECESSION ON LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET 
 
3 EXECUTIVE SUMMARY 
 
4 PREMIUM INSIGHTS 
 
5 MARKET OVERVIEW 
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
           5.2.2 RESTRAINTS
           5.2.3 OPPORTUNITIES
           5.2.4 CHALLENGES
    5.3 INDUSTRY TRENDS 
    5.4 VALUE CHAIN ANALYSIS 
    5.5 TECHNOLOGY ANALYSIS 
           5.5.1 KEY TECHNOLOGIES
                    5.5.1.1 ARTIFICAL INTELLIGENCE & MACHINE LEARNING
                    5.5.1.2 CLOUD COMPUTING
           5.5.2 COMPLEMENTARY TECHNOLOGIES
                    5.5.2.1 INTERNET OF THINGS
                    5.5.2.2 DATA ANALYTICS
           5.5.3 ADJACENT TECHNOLOGY
                    5.5.3.1 BLOCKCHAIN
    5.6 PORTER'S FIVE FORCES ANALYSIS 
    5.7 REGULATORY LANDSCAPE  
           5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 
           5.7.2 REGULATORY ANALYSIS 
                    5.7.2.1 North America 
                    5.7.2.2 Europe 
                    5.7.2.3 Asia Pacific 
                    5.7.2.4 Latin America
                    5.7.2.5 Middle East & Africa
    5.8 PATENT ANALYSIS  
           5.8.1 PATENT PUBLICATION TRENDS FOR THE LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET
           5.8.2 INSIGHTS: JURISDICTION AND TOP APPLICANT ANALYSIS 
    5.9 PRICING ANALYSIS  
           5.10.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
           5.10.2 AVERAGE SELLING PRICE TREND, BY REGION
    5.10 KEY CONFERENCES & EVENTS 2024-2025 
    5.11 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.11.1 KEY STAKEHOLDERS IN THE BUYING PROCESS
           5.11.2 BUYING CRITERIA
    5.12 ECOSYSTEM ANALYSIS 
    5.13 CASE STUDY ANALYSIS 
    5.14 TRENDS/DISRUPTION IMPACTING CUSTOMER’S BUSINESS 
    5.15 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) INVESTMENT AND FUNDING SCENARIO 
    5.16 END USER ANALYSIS 
           5.16.1 UNMET NEEDS 
           5.16.2 END USER EXPECTATIONS 
    5.17 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) BUSINESS MODELS 
 
* Trade Analysis is not included as this market covers software and services. Thus, trade data is not available for the same.
 
6 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY COMPONENT 
    6.1 INTRODUCTION 
    6.2  SOFTWARE 
    6.3 SERVICES 
    6.4 SUPPORT 
 
7 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY TYPE 
    7.1 INTRODUCTION 
    7.2 BROAD-BASED LIMS 
    7.3 INDUSTRY-SPECIFIC LIMS 
 
8 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY DEPLOYMENT MODE 
    8.1 INTRODUCTION 
    8.2 ON-PREMISE LIMS 
    8.3 CLOUD LIMS 
           8.3.1 SOFTWARE-AS-A-SERVICE
           8.3.2 INFRASTRUCTURE-AS-A-SERVICE
           8.3.3 PLATFORM-AS-A-SERVICE
    8.4 REMOTELY HOSTED LIMS 
 
9 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY COMPANY SIZE 
    9.1 INTRODUCTION 
    9.2 LARGE COMPANIES 
    9.3 MEDIUM COMPANIES 
    9.4 SMALL COMPANIES 
 
10 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY INDUSTRY 
     10.1 INTRODUCTION 
     10.2 LIFE SCIENCE 
             10.2.1 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES
             10.2.2 BIOBANKS & BIOREPOSITORIES
             10.2.3 CONTRACT SERVICE ORGANIZATIONS
             10.2.4 ACADEMIC RESEARCH INSTITUTES
             10.2.5 CLINICAL RESEARCH LABORATORIES
             10.2.6 TOXICOLOGY LABORATORIES
             10.2.7 NGS LABORATORIES
     10.3 FOOD & BEVERAGE AND AGRICULTURE 
     10.4 PETROCHEMICALS AND OIL & GAS 
     10.5 CHEMICALS 
     10.6 ENVIRONMENTAL TESTING 
     10.7 FORENSICS 
     10.10 OTHER INDUSTRIES 
 
11 LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) MARKET, BY REGION 
     11.1 INTRODUCTION 
     11.2 NORTH AMERICA 
             11.2.1 RECESSION IMPACT
             11.2.2 US
             11.2.3 CANADA
     11.3 EUROPE 
             11.3.1 RECESSION IMPACT
             11.3.2 GERMANY
             11.3.3 FRANCE
             11.3.4 UK
             11.3.5 ITALY
             11.3.6 REST OF EUROPE
     11.4 ASIA PACIFIC 
             11.4.1 RECESSION IMPACT
             11.4.2 JAPAN
             11.4.3 CHINA
             11.4.4 INDIA
             11.4.5 REST OF ASIA PACIFIC
     11.5 LATIN AMERICA 
             11.5.1 RECESSION IMPACT
     11.6 MIDDLE EAST & AFRICA 
             11.6.1 RECESSION IMPACT
             11.6.2 GCC COUNTRIES
             11.6.3 REST OF MIDLE EAST & AFRICA
 
12  COMPETITIVE LANDSCAPE 
     12.1 OVERVIEW 
     12.2 STRATEGIES ADOPTED BY KEY MARKET PLAYERS 
     12.3 REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS, 2023 
     12.4 MARKET SHARE ANALYSIS, 2023 
     12.5 BRAND/PRODUCT COMPARATIVE ANALYSIS 
     12.6 VALUATION AND FINANCIAL METRICS OF KEY LABORATORY INFORMATION MANAGEMENT SYSTEMS (LIMS) VENDORS 
     12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             12.7.1 STARS
             12.7.2 EMERGING LEADERS
             12.7.3 PERVASIVE PLAYERS
             12.7.4 PARTICIPANTS
             12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                        12.7.5.1 COMPANY FOOTPRINT
                        12.7.5.2 REGION FOOTPRINT
                        12.7.5.3 COMPONENT FOOTPRINT
                        12.7.5.4 TYPE FOOTPRINT
                        12.7.5.5 INDUSTRY FOOTPRINT
     12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
             12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
                        12.8.5.1 DETAILED LIST OF KEY STARTUPS/SMES
                        12.8.5.2 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.9 COMPETITIVE SCENARIOS AND TRENDS 
             12.9.1 PRODUCT LAUNCHES & UPGRADES
             12.9.2 DEALS
             12.9.3 OTHERS
 
13 COMPANY PROFILES 
     13.1 KEY PLAYERS 
             13.1.1 LABWARE
             13.1.2 LABVANTAGE SOLUTIONS INC.
             13.1.3 THERMO FISHER SCIENTIFIC INC.
             13.1.4 STARLIMS CORPORATION 
             13.1.5 AGILENT TECHNOLOGIES, INC.
             13.1.6 LABLYNX LIMS
             13.1.7 DASSAULT SYSTÈMES
             13.1.8 LABWORKS
             13.1.9 AUTOSCRIBE INFORMATICS
             13.1.10 ACCELERATED TECHNOLOGY LABORATORIES, INC.
             13.1.11 CLOUDLIMS
             13.1.12 COMPUTING SOLUTIONS, INC.
             13.1.13 ILLUMINA, INC.
             13.1.14 SIEMENS
             13.1.15 NOVATEK INTERNATIONAL
             13.1.16 OVATION
             13.1.17 CLINSYS
             13.1.18 EUSOFT LTD.
             13.1.19 CALIBER TECHNOLOGIES
             13.1.20 LABTRACK
     13.2 OTHER PLAYERS 
             13.2.1 AGILAB
             13.2.2 AGARAM TECHNOLOGIES PVT LTD
             13.2.3 ASSAYNET INC.
             13.2.4 BLAZE SYSTEMS CORPORATION
             13.2.5 THIRD WAVE ANALYTICS, INC.
 
14 APPENDIX 
     14.1 INSIGHTS OF INDUSTRY EXPERTS 
     14.2 DISCUSSION GUIDE 
     14.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.4 CUSTOMIZATION OPTIONS 
     14.5 RELATED REPORTS 
     14.6 AUTHOR DETAILS 

This research study involved the extensive use of both primary and secondary sources. It involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, the competitive landscape of market players, and key market dynamics such as drivers, opportunities, challenges, restraints, and key player strategies.

Secondary Research

This research study involved the wide use of secondary sources, directories, databases such as Dun & Bradstreet, Bloomberg Businessweek, and Factiva; white papers, annual reports, and companies’ house documents, investor presentations; and the SEC filings of companies. Secondary research was used to identify and collect information useful for an extensive, technical, market-oriented, and commercial study of the LIMS market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects.

Primary research was conducted to identify segmentation types; industry trends; key players; and key market dynamics such as drivers, restraints, opportunities, challenges, industry trends, and strategies adopted by key players.

Breakdown of the Primary Respondents:

Laboratory Information Systems (LIMS) Market Size, and Share

*Others include sales managers, marketing managers, and product managers.

Note: Tiers are defined based on a company’s total revenue, as of 2020: Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The market size estimates and forecasts provided in this study are derived through a mix of the bottom-up approach (revenue share analysis of leading players) and top-down approach (assessment of utilization/adoption/penetration trends, by deployment model, type, component, industry, and region).

Global Laboratory Information Management Systems Market Size: Top-Down Approach

Laboratory Information Systems (LIMS) Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Laboratory Information Systems (LIMS) Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Laboratory Information Management System (LIMS) Market.

Market Definition

A Laboratory Information Management System (LIMS) market is a software-based solution designed to manage and streamline the processes involved in laboratory workflows and data management. LIMS facilitates the efficient tracking, organization, and retrieval of laboratory samples, data, and associated information. It serves as a centralized platform for laboratory operations, providing functionalities such as sample tracking, data management, workflow automation, and quality control. LIMS is widely used across various industries, including healthcare, pharmaceuticals, research, environmental science, and more, to enhance the accuracy, efficiency, and compliance of laboratory processes.

Key Stakeholders

  • LIMS vendors
  • Healthcare IT service providers
  • Research and consulting firms
  • Pharmaceutical and biotechnology companies
  • Process industries
  • Venture capitalists
  • Government agencies
  • Academic research institutes

Objectives of the Study

  • To define, describe, and forecast the global Laboratory Information Management Systems (LIMS) market based on type, component, deployment model, industry, and region
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia, Latin America and Middle East & Africa
  • To profile key market players and comprehensively analyze their product portfolios, market positions, and core competencies
  • To track and analyze competitive developments such as acquisitions; product launches and upgrades; expansions; agreements, partnerships, and acquisitions; and R&D activities in the LIMS market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per your company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to 5)

Geographic Analysis

  • Further breakdown of the Rest of Europe Laboratory Information Management Systems Market into Denmark, Norway, and others
  • Further breakdown of the Rest of Asian Laboratory Information Management Systems Market into Vietnam, New Zealand, Australia, South Korea, and others
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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Report Code
HIT 3061
Published ON
May, 2024
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