The report "Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software & Services), Deployment (On premise, Cloud, SaaS, PaaS, IaaS), Industry (Life Sciences, Chemical, Agriculture, FnB, Oil, Gas), and Region - Global Forecast to 2028", is projected to reach USD 3.3 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 14.6% during the forecast period.
Browse 282 market data Tables and 43 Figures spread through 311 Pages and in-depth TOC on "Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software & Services), Deployment (On premise, Cloud, SaaS, PaaS, IaaS), Industry (Life Sciences, Chemical, Agriculture, FnB, Oil, Gas), and Region - Global Forecast to 2028"
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The growing popularity of cloud-based LIMS, use of LIMS in cannabis industry, significant growth potential in emerging markets are some of the key factors that offer opportunities to the market during the forecast period. However, the dearth of trained professionals, and interfacing challenges with informatics software are some of the factors challenging the market growth to some extent.
The cloud-based segment is expected to register a substantial growth in the laboratory information management systems market, by deployment mode
The cloud-based segment is expected to register a substantial growth in the laboratory information management systems market, by deployment mode. This growth can be attributed to advantages of this deployment model, such as cost-effectiveness and ease of use. Factors such as on-demand self-serving analytics, their highly adaptable nature, ease of use, affordability, reliability, no upfront capital investment for hardware, extreme capacity flexibility, and a pay-as-you-go pricing model have also ensured the high growth of cloud-based LIMS.
Asia is to witness a considerable growth rate during the forecast period.
The Asian market is projected to grow at a considerable CAGR during the forecast period. Factors such as increasing medical tourism, growing investments expected to bring about the creation of new market participants, growing emergence of various technologies, and the rising foreign direct investments by North American and European pharmaceutical and biotechnology firms in Asia are anticipated to drive the development of laboratory information management systems applications in the Asia Pacific region.
LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific (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) are the major players in this market. These companies are majorly focusing on the strategies such as agreements, collaborations, partnerships, and service launches in order to remain competitive and further increase their share in the market.
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