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Global Laboratory Information Management Systems (LIMS) Market – Industry Trends and Forecast to 2030

  • Medical Devices
  • Upcoming Report
  • May 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Laboratory Information Management Systems (LIMS) Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR - 9.8% Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 2.07 Billion
Diagram Market Size (Forecast Year) USD 4.37 Billion
Diagram CAGR 9.8%

Global 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 and Beverage, Agriculture Industries, Diagnostics/Medical Device, Clinical Research Organization/Contract Manufacturing Organizations (CRO/CMO), Others), Distribution Channel (Direct Tenders, Retail Sales) – Industry Trends and Forecast to 2030.

Laboratory Information Management Systems (LIMS) Market

Laboratory Information Management Systems (LIMS) Market Analysis and Size

In 2022, the cloud-based product segment held the largest market share, accounting for more than 42% of global revenue, and is expected to maintain its lead position with the fastest growth rate over the forecast period. The segment's dominance can be attributed to its ability to provide data access from virtually unlimited access points, which is essential in a growing remote work culture. Additionally, the cloud-based product's flexibility, reduced IT manpower, cost-effective data management, and easy deployment are other key factors driving its growth.

Data Bridge Market Research analyses that the laboratory information management systems (LIMS) market, which was USD 2.07 billion in 2022, is expected to reach USD 4.37 billion by 2030, at a CAGR of 9.80% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Laboratory Information Management Systems (LIMS) Market Scope and Segmentation  

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Component (Services, Software), Product Type (Broad-Based, Industry-Specific), Delivery (On-Premise, Cloud-Based, Remotely-Hosted), Industry Type (Life Sciences Industry, Chemical/Energy, Food and Beverage, Agriculture Industries, Diagnostics/Medical Device, Clinical Research Organization/Contract Manufacturing Organizations (CRO/CMO), Others), Distribution Channel (Direct Tenders, Retail Sales)

Countries Covered

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

Market Players Covered

Thermo Fisher Scientific Inc. (U.S.), PerkinElmer Inc. (U.S.), Autoscribe Informatics (U.S.), Novatek International (Russia), Benchling (U.S.), Agaram Technologies Pvt Ltd (India), Agilent Technologies, Inc. (U.S.), LabWare (U.S.), STARLIMS Corporation (U.S.), IBM Corporation (U.S.), Roper Technologies, Inc (U.S.), Eusoft Ltd. (China), Illumina, Inc. (U.S.), McKesson Corporation (U.S.), Infors AG (U.S.), Siemens (Germany), Zoho Corporation Pvt. Ltd. (India),  LabVantage Solutions Inc (U.S.), Shimadzu Corporation (Japan)

Market Opportunities

  • Growing popularity of biobanks will as a market opportunity

Market Definition

A laboratory information management system, also known as a laboratory management system, is a software system that supports laboratory operations by tracking workflow and specimens, aggregating data for research or business intelligence purposes, and ensuring laboratory operations comply with various regulations and standards. LIMS enables labs to produce accurate, reliable, reproducible, and faster data, and is widely used in various industries such as life science, chemicals, oil & gas, and others.

Laboratory Information Management Systems (LIMS) Market Dynamics

Drivers

  • Growing number of technological advancements will drive the market growth

Technological advancements, such as cloud computing, artificial intelligence, and predictive analytics, are driving the growth of the Lab Information Management System (LIMS) market. These advanced technologies streamline laboratory operations, reduce costs, and increase productivity. Cloud computing, for example, allows for efficient and cost-effective data management from anywhere in the world.

  • Growing investment to improve the healthcare infrastructure

Additionally, the rapid development of healthcare infrastructures and government support for digitalized services in developing countries such as China and India offer significant growth probabilities for the LIMS market during the forecast period. This will positively influence the growth of the market in the long run.

Opportunities

  • Growing popularity of biobanks will as a market opportunity

LIMS plays a vital role in managing and tracking samples generated in clinical trials, cohort projects, biological and genomic studies, and specific protocols, and also enables the provision of biospecimens to end users such as hospitals and clinics to advance discoveries. Therefore, growing importance of biobanks for managing and tracking samples and rising interest of deploying LIMS in such facilities will create numerous opportunities in the future.

Restraints/Challenges

  • Complexities associated will restrain the growth of the market

However, the high maintenance and service costs, lack of integration standards, privacy and security concerns, and complex integrated systems are potential barriers and obstructions that can hinder the overall growth of the global LIMS market. Such complexities if not handled well in time, can have a devastating impact on the market.     

This laboratory information management systems (LIMS) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the laboratory information management systems (LIMS) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

  • In 2022, Thermo Fisher Scientific, Inc released the 21.1 version of SampleManager LIMS software in 2022, which includes Analytical Quality Control (AQC) HL7 support, along with advanced functions such as data packager and kit deployment, voice control, data support for data analytics, monitoring & charts, among others.
  • In 2022, LabVantage Solutions, Inc also launched Version 8.8 of its primary LIMS platform in the same year, with several upgrades to all its components.

Global Laboratory Information Management Systems (LIMS) Market Scope

The laboratory information management systems (LIMS) market is segmented on the basis of component, product type, delivery, industry type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Component  

  • Services
  • Software

Product Type

  • Broad-Based
  • Industry-Specific

 Delivery

  • On-Premise
  • Cloud-Based
  • Remotely-Hosted

Industry Type

  • Life Sciences Industry
  • Chemical/Energy
  • Food and Beverage
  • Agriculture Industries
  • Diagnostics/Medical Device
  • Clinical Research Organization/Contract Manufacturing Organizations (CRO/CMO)
  • Others

Distribution Channel

  • Direct Tenders
  • Retail Sales

Laboratory Information Management Systems (LIMS) Market Regional Analysis/Insights

The laboratory information management systems (LIMS)  market is analysed and market size insights and trends are provided by country, component, product type, delivery, industry type, and distribution channel as referenced above.

The countries covered in the laboratory information management systems (LIMS) 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.

The North American holds the largest revenue share in the industry, mainly due to supportive policies that encourage the adoption of laboratory automation, such as EHR programs. The region's advanced infrastructure, growing demand for genomic studies, and increased government funding are other factors contributing to its dominance.

Asia-Pacific region is expected to experience significant growth during the forecast period of 2023 to 2030 driven by the rising demand for CROs that provide LIMS. India and Japan, with their skilled workforce and low costs, remain attractive outsourcing destinations. Additionally, several biopharma companies are relocating their manufacturing facilities to the Asia-Pacific region for cost-effective production.

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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The laboratory information management systems (LIMS) market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for laboratory information management systems (LIMS) market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the laboratory information management systems (LIMS) market. The data is available for historic period 2011-2021.

Competitive Landscape and Laboratory Information Management Systems (LIMS) Market Share Analysis

The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to laboratory information management systems (LIMS) market.

Some of the major players operating in the laboratory information management systems (LIMS) market are:

  • Thermo Fisher Scientific Inc. (U.S.)
  • PerkinElmer Inc. (U.S.)
  • Autoscribe Informatics (U.S.)
  • Novatek International (Russia)
  • Benchling (U.S.)
  • Agaram Technologies Pvt Ltd (India)
  • Agilent Technologies, Inc. (U.S.)
  • LabWare (U.S.)
  • STARLIMS Corporation (U.S.)
  • IBM Corporation (U.S.)
  • Roper Technologies, Inc (U.S.)
  • Eusoft Ltd. (China)
  • Illumina, Inc. (U.S.)
  • McKesson Corporation (U.S.)
  • Infors AG (U.S.)
  • Siemens (Germany)
  • Zoho Corporation Pvt. Ltd. (India)
  • LabVantage Solutions Inc (U.S.)
  • Shimadzu Corporation (Japan)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The growth rate of the laboratory information management systems (LIMS) market is 9.80% in the forecast period by 2030.
The laboratory information management systems (LIMS) market size will be worth USD 4.37 billion by 2030.
Major companies in the laboratory information management systems (LIMS) market are Thermo Fisher Scientific Inc. (U.S.), PerkinElmer Inc. (U.S.), Autoscribe Informatics (U.S.), Novatek International (Russia), Benchling (U.S.), Agaram Technologies Pvt Ltd (India), Agilent Technologies, Inc. (U.S.), etc.
Component, product type, delivery, industry type, and distribution channel are the factors on which the laboratory information management systems (LIMS) market research is based.
Growing number of technological advancements will drive the market growth & Growing investment to improve the healthcare infrastructure are the growth drivers of the laboratory information management systems (LIMS) market.
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