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Global Pharmaceutical Laboratory Information Management Systems Market – Industry Trends and Forecast to 2029

  • Healthcare IT
  • Upcoming Report
  • Apr 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220
  • Healthcare IT
  • Upcoming Report
  • Apr 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Pharmaceutical Laboratory Information Management Systems Market, By Product (Standalone, Integrated), Delivery Mode (On-Premise, Web-Based, Cloud-Based), Component (Service, Software)– Industry Trends and Forecast to 2029

Pharmaceutical Laboratory Information Management Systems Market

Market Analysis and Size

The instruments are integrated into the LIMS so as to automate the collection of test data, confirming that they are properly calibrated and operated by trained staff only. Increasing demand for automated operations from various sectors due to the requirement for efficient operations and the rise in occurrences of chronic diseases globally is expected to boost the market's growth.

Data Bridge Market Research analyses that the pharmaceutical laboratory information management systems market was valued at USD 1.85 billion in 2021, would rocket up to USD 3.42 billion by 2029, and is expected to undergo a CAGR of 8.0% during the forecast period of 2022 to 2029. 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.

Market Definition

Laboratory Information Management Systems (LIMS) is a software service built for usage in various labs that aids in the automation of laboratory activities as well as the categorization and management of lab information. This program aids in data organization, resulting in increased operational efficiency and effectiveness.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD billion, Volumes in Units, Pricing in USD

Segments Covered

By Product (Standalone, Integrated), Delivery Mode (On-Premise, Web-Based, Cloud-Based), Component (Service, Software)

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), LabWare (U.S.), LabVantage Solutions Inc. (U.S.), Abbott (U.S.), Core Informatics (U.S.), LabLynx LIMS (Laboratory Information Management System) (U.S.), Labworks (U.S.), Computing Solutions and Inc. (U.S.), Autoscribe Informatics (U.K.), Illumina, Inc. (U.S), Siemens (Germany), Accelerated Technology Laboratories, Inc.(U.S), Orchard Software Corporation (U.S), Cerner Corporation (U.S), Soft Computer Consultants, Inc. (U.S), Sunquest Information Systems Inc. (U.S), McKesson Corporation (U.S)

Market Opportunities

  • Pharmaceutical companies are focused on attaining SMEs
  • Increasing Popularity of AI integrated PIM Solutions

Pharmaceutical Laboratory Information Management Systems Market Dynamics

Drivers

  •  Connected to PIM Solutions

Data management has become critical in every industry in today's fast-paced corporate climate. End-users can store customized information about the patient, dosage description, and medicine using the product information management system. These technologies are capable of efficiently handling and managing pharmaceutical data and information. With the support of a diverse workflow, these solutions also help to increase transparency, generate ownership, and facilitate interdepartmental cooperation which helps drive the market growth.

  •  Rise in preference for a centralized data model in the pharmaceutical industry

In the pharmaceutical business, centralized data models have seen widespread acceptance. Researchers employ stored information and data to detect chemical formulae, test theories, and compound patterns when producing novel drug versions.

  • Increasing demand for automated operations

Due to the demand for efficient operations and rise in incidences of chronic diseases globally, this factor is expected to drive the market's growth.

  • Increasing need for laboratory automation

Laboratory automation is gaining traction as a viable solution to the difficulties of labor scarcity and strategies to eliminate manual intervention in lab processes. Automation of regular lab procedures boosts lab efficiency and allows individual researchers to focus on critical activities using dedicated workstations and software to program devices. Automation produces high-quality data and makes documentation more accessible.

Opportunities

  • Strategic Mergers and Acquisitions

Pharmaceutical businesses are concentrating their efforts on acquiring SMEs that specialize in designing and developing PIM solutions. This will assist them in boosting their market position by expanding their current product offers. This is projected to boost the global market's growth prospects.

  • Rising Popularity of AI integrated PIM Solutions

The availability of a variety of sales channels, such as voice-assisted shopping and e-commerce platforms, has prompted clients to choose AI-integrated PIM solutions in the pharmaceutical industry. These systems provide customized descriptions based on the preferences of the customer. Furthermore, rising demand for real-time data and product information is expected to open up new prospects for market participants.

  • Restraints/Challenges

The high costs involved with the installation and integration of these software services and a scarcity of experienced and skilled professionals for the system's integration and operation are projected to limit market growth.

This pharmaceutical laboratory information management systems  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 pharmaceutical laboratory information management systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Pharmaceutical Laboratory Information Management Systems Market

The outbreak of COVID-19 led in a surge in demand for medical items, disrupting the whole pharmaceutical supply chain. Despite this, the corporations have greatly increased their production capacities in order to keep up with the growing demand for these products. Managing highly regulated and accurate product information in the pharmaceutical industry has become critical. This is projected to positively impact the worldwide pharmaceutical product information management system market's growth. Clinical trials are being hampered by COVID-19. In clinical trial phases, a product information management system is critical. In order to improvement to the second step of the clinical trial, researchers consult the information and data offered by PIM solutions.

Recent Development

  •  Agilent Technologies, Inc. stated in May 2018 that they had agreed to buy Genohm. Agilent will be able to build numerous informatics solutions for the various operating segments of laboratories as a result of this acquisition.

Global Pharmaceutical Laboratory Information Management Systems Market Scope

The pharmaceutical laboratory information management systems market is segmented on the basis of product, delivery mode, component. 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.

Product

  • Standalone
  • Integrated

Delivery Mode

  • On-Premise
  • Web-Based
  • Cloud-Based

Component

Pharmaceutical Laboratory Information Management Systems Market Regional Analysis/Insights

The pharmaceutical laboratory information management systems market is analysed and market size insights and trends are provided by country, product, delivery mode and component as referenced above.

The countries covered in the pharmaceutical laboratory information management systems  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.

North America leads the pharmaceutical laboratory information management systems market because of the healthcare facilities, strong presence of major players in the market increased cases of surgical procedures among the athletes and a growing number of research activities in this region.  

Due to increased government initiatives to promote awareness, increased growing research activities in the region, availability of massive untapped markets, large population pool, medical tourism,  and growing demand for quality healthcare in the region, Asia-Pacific is expected to see significant growth during the forecast period of 2022 to 2029.

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 pharmaceutical laboratory information management systems 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 pharmaceutical laboratory information management systems  market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the pharmaceutical laboratory information management systems  market. The data is available for historic period 2010-2020.

Competitive Landscape and Pharmaceutical Laboratory Information Management Systems Market Share Analysis

The pharmaceutical laboratory information management systems  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 pharmaceutical laboratory information management systems  market.

Some of the major players operating in the pharmaceutical laboratory information management systems market are:

  • Thermo Fisher Scientific Inc. (U.S)
  • LabWare (U.S.)
  • LabVantage Solutions Inc. (U.S.)
  • Abbott (U.S.)
  • Core Informatics (U.S.)
  • LabLynx LIMS (Laboratory Information Management System) (U.S.)
  • Labworks (U.S.)
  • Computing Solutions and Inc. (U.S.)
  • Autoscribe Informatics (U.K.)
  • Illumina, Inc. (U.S)
  • Siemens (Germany)
  • Accelerated Technology Laboratories, Inc.(U.S)
  • Orchard Software Corporation (U.S)
  • Cerner Corporation (U.S)
  • Soft Computer Consultants, Inc. (U.S)
  • Sunquest Information Systems Inc. (U.S)
  • McKesson Corporation (U.S)

 


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Frequently Asked Questions

The Pharmaceutical Laboratory Information Management Systems Market value is expected USD 3.42 billion by 2029.
The Pharmaceutical Laboratory Information Management Systems Market is projected to grow at a CAGR of 8.0% during the forecast period.
Researchers employ stored information and data to detect chemical formulae, test theories, and compound patterns when producing novel drug versions are the major growth driving factors.
The major players operating in this market are Thermo Fisher Scientific Inc. (U.S), LabWare (U.S.), LabVantage Solutions Inc. (U.S.), Abbott (U.S.), Core Informatics (U.S.), LabLynx LIMS (Laboratory Information Management System) (U.S.), Labworks (U.S.), Computing Solutions and Inc. (U.S.), Autoscribe Informatics (U.K.), Illumina, Inc. (U.S), Siemens (Germany), Accelerated Technology Laboratories, Inc.(U.S), Orchard Software Corporation (U.S), Cerner Corporation (U.S), Soft Computer Consultants, Inc. (U.S), Sunquest Information Systems Inc. (U.S), McKesson Corporation (U.S).