Asia-Pacific Laboratory Information Management Systems (LIMS) Market, By Component (Services, Software), Product Type (Broad-Based, Industry-Specific), Delivery (On-Premise, Cloud-Based, Remotely-Hosted), Industry Type (Life Sciences Industry, Chemical/Energy, Food & Beverage & Agriculture Industries, Diagnostics/Medical Device, Clinical Research Organization/Contract Manufacturing Organizations (CRO/CMO) and Others), Distribution Channel (Direct tenders, Retail Sales), Country (Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific). Industry Trends and Forecast to 2029
Market Analysis and Insights: Asia-Pacific Laboratory Information Management Systems (LIMS) Market
Asia-Pacific Laboratory Information Management Systems (LIMS) market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 10.1% in the forecast period of 2022 to 2029 and is expected to reach USD 6,02,317.94 thousand by 2029. Increasing demand for genomic studies and rising government funding are some other factors attributing towards the growth of the market in the region.
A laboratory information management systems (LIMS) software helps in the effective management of samples and data associated with it. With the help of LIMS, a lab can integrate instruments, manage samples, and automate the workflows. LIMS software is also being used in modern genomics. The unprecedented amount of data that is generated from modern genomics is easily managed with the help of the LIMS software. Owing to the increased efforts of clinicians and researchers for the betterment of lab operations and the increasing number of samples in the labs, the demand for LIMS software is increasing, which is further contributing to the growth of the market to an extent.
Integration of varied technologies, such as artificial intelligence and machine learning is the major driving factor in the market. Data complexity and lack of user friendly tools can prove to be a challenge, however increase in strategic decisions, such as partnerships and collaborations, in informatics field can prove to be an opportunity. The restraint is the higher cost of data management & software. Also, challenges faced due to the impact of COVID-19 on the supply chain are one of the major restraining factors.
The Asia-Pacific laboratory information management systems (LIMS) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the laboratory information management systems (LIMS) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Laboratory Information Management Systems (LIMS) Market Scope and Market Size
Asia-Pacific laboratory information management systems (LIMS) market is segmented into component, product type, delivery, industry type, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Asia-Pacific laboratory information management systems (LIMS) market is segmented into software and services. In 2022, services segment is expected to dominate the market due to the rising demand for LIMS outsourcing solutions.
- On the basis of product type, the Asia Pacific laboratory information management systems (LIMS) market is segmented into industry specific and board based. In 2022, board based segment is expected to dominate the market as they can collect and share data securely and instantaneously from anywhere to any devices.
- On the basis of delivery, the Asia Pacific laboratory information management systems (LIMS) market is segmented into on premise, cloud based, and remotely hosted. In 2022, cloud based segment is expected to dominate the market owing to the reduced IT manpower, cost-effective data management, and easy deployability are some other factors attributing to the growth of the segment.
- On the basis of industry type, the Asia Pacific laboratory information management systems (LIMS) market is segmented into life science industry, chemical/energy, food and beverage and agriculture industries, diagnostics/medical device, contract research organizations/contract manufacturing organizations (CRO/CMO), and others. In 2022, life science industry segment is expected to dominate the market due to increasing use of LIMS in pharmaceutical laboratories. Lack of competent in-house resources, increased productivity, cost efficiency, and rising need for biobanks and biorepositories are all likely to drive the segment's expansion.
- On the basis of distribution channel, the Asia Pacific laboratory information management systems (LIMS) market is segmented into direct tenders and retail sales. In 2022, direct tenders segment is expected to dominate the market as it creates a sustainable business by guaranteeing a certain number of sales.
Some of the major players operating in the Asia Pacific laboratory information management systems (LIMS) market are Shimadzu Corporation, Novatek International, Agaram Technologies Pvt Ltd, LabWare, STARLIMS Corporation, IBM, Zoho Corporation Pvt. Ltd., and LabVantage Solutions Inc. among others.
Laboratory Information Management Systems (LIMS) Market Country Level Analysis
The Asia-Pacific laboratory information management systems (LIMS) market is analyzed and market size information is provided based on country, component, product type, delivery, industry type, and distribution channel as referenced above.
The countries covered in the Asia-Pacific laboratory information management systems (LIMS) market report are Japan, China, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, and Rest of Asia-Pacific. China dominates the Asia Pacific region owing to the increasing number of LIMS providing CROs in the country. Major players outsource LIMS from CROs based in the country to reduce the cost of LIMS support systems and improve operational efficiency.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Use of LIMS to Comply with Stringent Regulatory Requirements Is Boosting the Market Growth
The Asia-Pacific laboratory information management systems (LIMS) market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Laboratory Information Management Systems (LIMS) Market Share Analysis
Laboratory Information Management Systems (LIMS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Laboratory Information Management Systems (LIMS) market.
Some of the major players operating in the Laboratory Information Management Systems (LIMS) market are Shimadzu Corporation, Novatek International, Agaram Technologies Pvt Ltd, LabWare, STARLIMS Corporation, IBM, Zoho Corporation Pvt. Ltd., and LabVantage Solutions Inc. among others.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the Laboratory Information Management Systems (LIMS) market.
For instance,
- October 2020: Zoho Corporation Pvt. Ltd. introduced new apps and services to help decision-makers sort the data using various commands, thus helping the customers get better solutions with easy and quick techniques. This helps the company to attract new customers and improve its customer base over the world.
- In April 2020, the Ministry of Health in China has defined an action plan for the deployment of e-health-related solutions to geographically dispersed sections of the country encompassing broad areas of medical services and insurance plans, with a large focus on the adoption of electronic record systems to allow data sharing across the national healthcare system.
- 2015, Agaram Technologies was certified as an ISO 9001:2015 for ensuring all quality-related activities in an organization and adhering to customers’ expectations. This certification had further helped the company to become a renowned technical service organization.
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