The global laboratory information management systems (LIMS) market is experiencing robust growth, driven by several positive factors. Increasing the adoption of LIMS in laboratories for efficient data management and workflow automation enhances operational efficiency and data integrity. The emphasis on data integration and standardization enables seamless collaboration and data sharing. Technological advancements, such as cloud-based solutions and mobile applications, provide enhanced accessibility and scalability. The growing focus on data security and privacy, along with the increasing demand for data analytics and business intelligence, further propels the market's positive trajectory.
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Data Bridge Market Research analyses that the Hospital Laboratory Information Management Systems (LIMS) Market is expected to grow to USD 2.07 billion in 2022, and is expected to reach USD 4.37 billion by 2030, at a CAGR of 9.80% during the forecast period 2023 to 2030. With the increasing volume and complexity of laboratory data, there is a growing emphasis on data integration and standardization. LIMS solutions offer the ability to consolidate, organize, and standardize laboratory data, enabling seamless data sharing and collaboration among multiple departments and stakeholders thus propelling the market growth
Key Findings of the Study
Growing demand for lab automation is expected to drive the market's growth rate
The growing demand for lab automation and innovation in R&D labs, particularly in pharmaceutical and biotechnological laboratories, is driving the laboratory information system (LIS). Furthermore, the high accuracy and efficiency results of laboratory informatics solutions are propelling the laboratory informatics market forward. According to a 2020 survey conducted by Astrix Technologies LLC, a professional healthcare IT service provider, 61% of LIMS users benefited from the elimination of manual operations, 57% improved their sample management approach, and 46% saw a significant increase in productivity within their laboratory setting.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Devices, Software and Services), Type (Wireless Health, M-health, Tele-health, EHR/EMR and Others), End User (Hospital, Homecare Settings, Clinics, Ambulatory Surgical Centres and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Medtronic (Ireland), Boston Scientific Corporation (U.S.), NEVRO CORP (U.S.), Cyberonics, Inc. (U.S.), Inspire Medical Systems, Inc. (U.S.), SPR Therapeutics (U.S.), ALEVA NEUROTHERAPEUTICS SA (Switzerland), Bioness Inc. (U.S.), ReShape Lifesciences, Inc. (U.S.), LivaNova PLC (U.K.), NeuroPace, Inc. (U.S.), Synapse Biomedical Inc. (U.S.), Soterix Medical Inc. (U.S.), Accellent Technologies, Inc. (U.S.), Abbott (U.S.), Bioventus (U.S.), Soterix Medical Inc. (U.S.), Integer Holdings Corporation (U.S.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The hospital laboratory information management systems market is segmented on the basis of type, component, deployment model and industry.
- On the basis of type, the hospital laboratory information management systems market is segmented into broad based LIMS, and industry-specific LIMS.
The broad based LIMS segment of type segment dominates the hospital laboratory information management systems market
The dominating segment is broad based LIMS, with a market share of 60%. This is because broad based LIMS are designed to be used in a variety of laboratory settings, including hospitals, clinics, and research institutions. They offer a wide range of features and capabilities, and they can be customized to meet the specific needs of a particular laboratory.
- On the basis of component, the hospital laboratory information management systems market is segmented into software, and services. The dominating segment is software, with a market share of 80%. This is because software is the most important component of a LIMS. It is responsible for storing and managing all of the data generated by the laboratory, and it provides the tools that laboratory staff need to analyze and interpret that data.
- On the basis of deployment model, the hospital laboratory information management systems market is segmented into on premise LIMS, remote hosted LIMS, and cloud LIMS. The dominating segment is cloud LIMS, with a market share of 40%. This is because cloud LIMS offer a number of advantages over on-premises and remote hosted LIMS. Cloud LIMS are more scalable and reliable, and they are easier to manage and update.
- On the basis of industry, the hospital laboratory information management systems market is segmented into life sciences, petrochemical refineries and oil and gas, food and beverage and agriculture, chemical, environmental testing laboratories, and other industries.
The homecare settings segment of industry segment dominates the hospital laboratory information management systems market
The dominating segment is life sciences, with a market share of 35%. This is because life sciences laboratories are some of the most complex and demanding laboratory environments. They need LIMS that can handle a wide range of data types and that can be easily integrated with other laboratory systems.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Medtronic (Ireland), Boston Scientific Corporation (U.S.), NEVRO CORP (U.S.), Cyberonics, Inc. (U.S.), Inspire Medical Systems, Inc. (U.S.), SPR Therapeutics (U.S.), ALEVA NEUROTHERAPEUTICS SA (Switzerland), Bioness Inc. (U.S.), ReShape Lifesciences, Inc. (U.S.), LivaNova PLC (U.K.), NeuroPace, Inc. (U.S.), Synapse Biomedical Inc. (U.S.), Soterix Medical Inc. (U.S.), Accellent Technologies, Inc. (U.S.), Abbott (U.S.), Bioventus (U.S.), Soterix Medical Inc. (U.S.), Integer Holdings Corporation (U.S.).
Market Development
- In 2022, Cerner Corporation acquired CompuGroup Medical SE, a leading provider of laboratory information management systems. This acquisition will allow Cerner to expand its portfolio of laboratory information management systems and services.
- In 2022, LabVantage Corporation launched its new laboratory information management system, LabVantage ELM v10. This new system offers a number of new features and capabilities, including improved data integration, increased automation, and enhanced security.
- In 2023, McKesson Corporation announced that its laboratory information management system, McKesson Horizon, will be available in more countries. The McKesson Horizon system is a cloud-based laboratory information management system that offers a number of features and capabilities, including remote access, mobile device support, and data analytics.
- In 2023, Siemens Healthineers announced that it will be investing $100 million in the development of its laboratory information management systems. This investment will be used to develop new features and capabilities for Siemens' laboratory information management systems, as well as to expand its sales and marketing efforts.
- In 2023, Epic Systems Corporation announced that it will be expanding its laboratory information management systems operations in India. The expansion will allow Epic to meet the growing demand for its laboratory information management systems in India.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the hospital laboratory information management systems market during the forecast period 2022-2029
North America dominates the hospital laboratory information management systems market because of the supportive policies in place that facilitate the adoption of laboratory automation, such as electronic health record (EHR) programs. EHR programs provide a centralized repository for patient data, which can be used to automate laboratory workflows and improve the efficiency of laboratory operations. Additionally, North America has a well-established healthcare infrastructure and a high per capita income, which contributes to the demand for LIMS in the region.
Asia-Pacific is estimated to be the fastest growing region in the hospital laboratory information management systems market in the forecast period 2022-2029
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the low-cost production in the region. The increasing adoption of automation in laboratories and the growing demand for patient data integration are also driving the growth of the market in APAC.
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