To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information
I AgreeAnalysis of Laboratory Information Management System market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Laboratory Information Management System analysis report by Fact.MR shows that global revenue of Laboratory Information Management System in 2021 was held at US$ 1.8 Bn. With 8.1%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth. Software segment is expected to be the highest revenue generator category, accounting for an absolute dollar opportunity of nearly US$ 2.4 Bn during 2022 – 2032.
Don't Need a Global Report?
Save 40% on Country & Region specific reports
As per the Laboratory Information Management System research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, market value of the Laboratory Information Management System increased at around 7.3% CAGR, wherein, countries such as the Germany, U.S., China and Japan held significant share in the global market. Laboratory Information Management System market is projected to grow at a CAGR of 8% over the coming 10 years.
Factors responsible for the growth of the laboratory information management systems (LIMS) market include the growing demand for bio banks, increasing emphasis on laboratory improvisation and experimentation and technological advancement in LIMS services. In recent years, the number of samples generated for study and analysis has exploded due to the increasing number of life-threatening diseases. Likewise, the focus on high sample quality and efficient sample management has become a major concern. This sample increase pushes researchers to face cost pressures, deal with regulatory issues, storage issues, and more.
To better manage these samples, bio banks are working tirelessly. LIMS helps bio banks manage and track samples generated as part of clinical trials, cohort projects, various biological studies, genomics, and specific procedures. In addition, LIMS also plays an important role in driving discoveries by providing biologically relevant samples to end users, such as hospitals and clinics.
Laboratory information management systems are predicted to gain popularity due to advancements in R&D laboratories, particularly in pharmaceutical and biotechnological labs. Other important factors supporting the growth of the Laboratory Information Management System (LIMS) Market include low implementation costs, effective time management, and compliance with GDP, GCP, and GMP.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Accounting for over 40% of the global revenue, laboratory information management systems market in North America is expected to score an absolute $ opportunity of around $900 Mn during 2022 - 2032. The existence of multiple global players in this region, and due to the well-established healthcare industry and improved reimbursement facilities, North America is likely to retain its dominant position in terms of market share in the future. Because of the higher adoption of digital healthcare in the country and increased expenditures made by enterprises there, the United States occupies the bulk of the market in North American.
Europe is the next region which falls just below North America in terms of market share of Laboratory information management systems. In 2017, the European Commission announced its plans to invest $37 billion in LIMS between 2018 and 2020, with $2.5 Bn allocated to Open Science and $740 Mn to the European Open Science Cloud, European data infrastructure, and high-performance computing.
As another development, Horizon 2020 has made financing available for future and emerging technologies, as well as for life science researchers under the ICT Work Programme. Increasing R&D activities and government financing will, in turn, enhance demand for good data management and, as a result, propel the European laboratory informatics market forward.
North America now dominates the laboratory information management systems industry and is projected to do so for a few years longer. The United States maintains the largest market share in the North America. The United States is the world's most COVID-affected country.
The requirement for data sharing across platforms and with patients has become critical in the COVID-19 pandemic. Data must move readily from diagnostic centres to hospitals to proven positive patients without jeopardising privacy or other important aspects of ethical care and research. As a result, healthcare professionals in the United States are focusing on digital information systems to keep track of the overall number of tests performed, treatment results, shifting case definitions, and expedite a variety of other activities. As a result of the COVID-19 epidemic, laboratory informatics systems are more likely to be used and adopted today and in the future.
Furthermore, the geriatric population in the United States is rapidly increasing, and this group is linked to a number of ailments. As a result, as the number of lifestyle problems rises, so will the demand for laboratory examinations. These laboratory systems aid in increasing productivity.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
In 2021, the services category led the market, accounting for almost 58% of total sales. This is due to fact that demand for LIMS deployment, integration, maintenance, validation, and support has skyrocketed. In addition, the increased demand for LIMS outsourcing solutions is projected to propel the market forward. As large pharmaceutical research labs lack the necessary resources and capabilities to deploy analytics, these services are outsourced.
Short-term, project-based, or long-term outsourcing are all options for it. Packages of these services are available, and they cover promotional spend compliance, social media analytics, predictive analytics for medical device failure, benchmarking services, among others. Because of the progression of software systems from SaaS to more advanced PaaS, CaaS, and community networks, the software segment is predicted to increase steadily over the projection period. Companies in the market are always experimenting with new methods in order to promote market growth.
In the healthcare industry, databases collect data on how things are done. A healthcare database records everything a doctor collects from a patient, including medications, prescriptions; treatments, operations data, and registries like encounter and discharge forms. It is difficult to comprehend the massive amount of healthcare data collected on a daily basis and these data are stored in cloud as enormous amount of data are available which needs to be updated in real time.
The rising frequency of chronic diseases is a major factor driving the worldwide laboratory information management system market. According to the World Health Organization (WHO), 422 Mn people worldwide suffer with diabetes, with the majority living in low- and middle-income nations. In addition, the increasing number of offers by participants is aiding market expansion. Labvantage Solutions, for example, had recently announced the availability of their new COVID-19 LIMS solution. The most recent solution is intended to help laboratories all around the world quickly input biospecimens into a pathology laboratory and begin doing COVID-19-related development and experiments using cloud based system.
Cloud computing is also gaining traction among mid-size and small enterprises, allowing them to access application software over an elevated internet connection without having to invest in computing software or hardware. CrelioHealth, for example, is a cloud-based diagnostic solution that allows labs to manage their radiological centers (RIS & PACS), pathological lab (LIMS), and inventory all in one place. It enables laboratories to streamline operations with adjustable report formats, digital billing, institution procedures, and payments, digital report delivery, and automated communications to patients, referrals, and business partners via a variety of channels including as SMS, email, WhatsApp, or a mobile app.
The need to address the outbreak prompted pharma and biotech businesses, academics, diagnostic labs, and testing facilities working on COVID-19 research to use innovative technologies and solutions that went beyond traditional methods to improve workflows.
Clinical laboratories were having trouble dealing with the high volume of COVID-19 samples, which is affecting their capacity to produce correct results. The use of automated technologies like LIMS is thought to decrease this load on medical laboratories by allowing for more efficient testing of large samples. With the emergence of COVID-19, the use of LIMS has risen, allowing healthcare practitioners to focus on medicine and vaccine research by streamlining data gathering operations. Leading actors in the laboratories information systems environment are partnering with government and non- governmental entities to provide COVID-19 testing capabilities using sophisticated technology.
There are a few key participants in the laboratory information management system industry, which is moderately competitive. Few large players currently control the market in terms of market share. With the growing demand for mobile health and developments in LIMS, a small number of smaller competitors are projected to enter the market and gain a significant stake. Abbott Laboratories, LabVantage, McKesson Corporation, LabLynx, and Siemens Healthcare GmbH, among others, are some of the key competitors in the market.
Some of the recent developments of key Laboratory Information Management System providers are as follows:
Report Attribute |
Details |
Forecast Period |
2022-2032 |
Historical Data Available for |
2017-2021 |
Market Analysis |
US$ 18 Bn for Value |
Key Regions Covered |
|
Key Countries Covered |
|
Key Market Segments Covered |
|
Key Companies Profiled |
|
Pricing |
Available upon Request |
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunities
Buy NowGet A Special pricing for start-ups and universities
Enquiry Before Buying- Humble, Yet Honored -
The Laboratory Information Management Systems is worth more than US$ 1.8 Bn at present.
Value of Laboratory Information Management Systems is projected to increase at a CAGR of around 8.1% during 2022 – 2032.
Value Laboratory Information Management Systems of increased at a CAGR of around 7.3% during 2017– 2021.
Factors responsible for the growth of the laboratory information management systems (LIMS) market include the growing demand for bio banks, increasing emphasis on laboratory improvisation
The top 5 countries are Germany, U.S., U.K., China and Japan.
North America accounted for over 39.9% of demand in 2021.
The European market for Laboratory Information Management Systems is projected to expand at a CAGR of around 8% during 2022 – 2032.