Laboratory Information Management System (LIMS) Market by Deployment and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR41085
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The laboratory information management system (LIMS) market has the potential to grow by USD 637.40 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 10.04%.

This laboratory information management system (LIMS) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by deployment (on-premise LIMS and cloud-based LIMS) and geography (North America, Europe, APAC, South America, and MEA). The laboratory information management system (LIMS) market report also offers information on several market vendors, including Abbott Laboratories, Accelerated Technology Laboratories Inc., Autoscribe Informatics, Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc. among others.

What will the Laboratory Information Management System (LIMS) Market Size be in 2021?

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Laboratory Information Management System (LIMS) Market: Key Drivers and Trends

The adherence to compliance and government regulations is notably driving the laboratory information management system (LIMS) market growth, although factors such as increasing data security and privacy concerns may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the laboratory information management system (LIMS) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • One of the key factors driving growth in the laboratory information management system (LIMS) market is adherence to compliance and government regulations.
  • Laboratories are automating the handling of data to remove the risks associated with misuse and erroneous analysis of data.
  • The government regulations demand easy accessibility and secure storage of data for a long period of time, which, in turn, increases the IT spending in laboratories and boosts the adoption of LIMS.
  • The high demand for bio-banking is another major factor supporting the laboratory information management system (LIMS) market share growth.
  • The bio-bank plays a critical role in research and requires a LIMS solution to effectively manage and track data quality, bio-species location, security, compliances, end-user billing, and patient demographics.
  • LIMS help in improving the sampling of data that involves different laboratories, FDA, and partner organizations and in integrating research information.

This laboratory information management system (LIMS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Laboratory Information Management System (LIMS) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Accelerated Technology Laboratories Inc.
  • Autoscribe Informatics
  • Illumina Inc.
  • LabLynx Inc.
  • LabVantage Solutions Inc.
  • LabWare Inc.
  • PerkinElmer Inc.
  • Shimadzu Corp.
  • Thermo Fisher Scientific Inc.

 

This statistical study of the laboratory information management system (LIMS) market encompasses successful business strategies deployed by the key vendors. The laboratory information management system (LIMS) market is fragmented and the vendors are deploying growth strategies such as investing in research to develop next-generation healthcare IT to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The laboratory information management system (LIMS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Laboratory Information Management System (LIMS) Market?

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39% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the laboratory information management system (LIMS) market in North America. Market growth in this region will be faster than the growth of the market in South America and MEA.

With the technological advances and the increase in the use of digital solutions and tools, information management systems have become an integral part of modern research and observation centers. This will facilitate the laboratory information management system (LIMS) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Deployment Segments in the Laboratory Information Management System (LIMS) Market?

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The laboratory information management system (LIMS) market share growth by the on-premise LIMS segment will be significant during the forecast period. LIMS, generally deployed on-premises, provides better data security with high control compared to that of cloud-based deployment. Large firms with enough resources are less likely to shift to other solutions. as owning and maintaining a server increases the perceived level of data security.

This report provides an accurate prediction of the contribution of all the segments to the growth of the laboratory information management system (LIMS) market size and actionable market insights on post COVID-19 impact on each segment.

Scope of Report

Features

Included Data

Base year for market size assessment

2021

Forecast period

2021-2025

Growth momentum and forecast

Accelerate at a CAGR of 10.04%

Regional analysis

North America, Europe, APAC, South America, and MEA

Key consumer countries

US, Germany, Canada, China, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abbott Laboratories, Accelerated Technology Laboratories Inc., Autoscribe Informatics, Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Factors Covered in this Laboratory Information Management System (LIMS) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive laboratory information management system (LIMS) market growth during the next five years
  • Precise estimation of the laboratory information management system (LIMS) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the laboratory information management system (LIMS) industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of laboratory information management system (LIMS) market vendors

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Laboratory Information Management System (LIMS) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.04%

Market growth 2021-2025

$ 637.40 million

Market structure

Fragmented

YoY growth (%)

8.81

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

North America at 39%

Key consumer countries

US, Germany, Canada, China, and UK

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Abbott Laboratories, Accelerated Technology Laboratories Inc., Autoscribe Informatics, Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The laboratory information management system (lims) market growth will increase by $705.85 million during 2019-2024.
The laboratory information management system (lims) market is expected to grow at a CAGR of 9.34% during 2019-2024.
Technavio has segmented the laboratory information management system (lims) market by deployment (On-premise LIMS and Cloud-based LIMS) and geographic (North America, Europe, APAC, and South America).
Abbott Laboratories, Autoscribe Informatics, Computing Solutions Inc., Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., Thermo Fisher Scientific Inc. are a few of the key vendors in the laboratory information management system (lims) market.
North America will register the highest growth rate of 40.69% among the other regions. Therefore, the laboratory information management system (lims) market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the laboratory information management system (lims) market growth are:
  • Adherence to compliance and government regulations
  • Emergence of SaaS-based LIMS
The laboratory information management system (lims) market vendors should focus on grabbing business opportunities from the on-premise lims segment as it accounted for the largest market share in the base year.
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