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Laboratory Information Management System (LIMS) Market by Mode of Delivery (On-premise, Cloud), Offering (Software, Services), Type (Multi-purpose, Purpose-built), End User (Life Science, Food & Beverage, Petrochemical, Chemical) - Global Forecast to 2030
Report ID: MRHC - 10441 Pages: 186 Apr-2023 Formats*: PDF Category: Healthcare Delivery: 2 to 4 Hours Download Free Sample ReportThe Laboratory Information Management System Market is expected to grow at a CAGR of 7.4% from 2023 to 2030 to reach $1.75 billion by 2030. A laboratory information management system (LIMS) is software that integrates instruments, automates workflows, and manages samples and associated information. It helps to improve lab productivity and efficiency. The COVID-19 pandemic acted as a catalyst for the digitalization of laboratories.
The pandemic brought unprecedented demand for innovative LIMS to pave the way for digital transformation. This avoided a complete shutdown, and the laboratory technicians could continue their work without interruptions. The pandemic also accelerated the adoption of secure cloud-based LIMS solutions for efficient remote-based working.
In November 2021, Insightful Science (U.S.) acquired LabArchives (U.S.) to expand its LIMS solutions for scientific discovery. Additionally, in July 2021, Francisco Partners (U.S.) acquired the STARLIMS informatics product suite from Abbott (U.S.).
The increasing R&D activities in the life sciences industry, the growing use of automation in laboratories, technological advancements in laboratory informatics solutions, and the rising need to comply with regulatory frameworks are some of the major drivers for the growth of this market.
Pharmaceutical companies constantly focus on research and development (R&D), the core of drug development processes. The biotechnology industry also continues to witness substantial growth due to increased investments in R&D to cater to the growing demand for innovation and new medical breakthroughs. The importance of R&D is evident due to the rising number of drug approvals.
For instance, in 2020, the FDA’s Center for Drug Evaluation and Research (CDER) approved 53 novel drugs, an increase from 48 novel drugs approved in 2019. High R&D investments in the life sciences sector is expected to drive the adoption of LIMS in the coming years.
Increasing R&D spending has boosted the demand for efficient laboratory data management. Most pharmaceutical companies and CROs are using LIMS as it allows researchers to reduce human errors by enabling workflow automation, tracking reagents and lots, centralizing access and storage of quality control data, enhancing data integrity with automatic audit logging and revision control, and much more. Also, LIMS integrates with instruments or other in-lab systems to improve lab efficiency.
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Emerging countries in Asia-Pacific, Latin America, and the Middle East hold significant market growth opportunities. These countries are developing R&D infrastructure that uses modern technologies to abide by international regulatory standards. Developed countries in North America and Europe have been major revenue generators for the stakeholders of the LIMS market.
However, these markets will eventually reach saturation encouraging LIMS providers to expand their geographical presence. Asia-Pacific is considered a high-potential market as countries such as India and China have shown high research potential over the past decade.
The increasing population and the growing incidence of chronic disorders have encouraged countries to develop laboratory infrastructure and increase laboratories to conduct research effectively. Increasing clinical trials and outsourcing research activities to CROs in the Asia-Pacific region (due to their cost-effectiveness) have boosted the implementation of lab informatics solutions.
Moreover, growing government support for digitalization in these countries is expected to create opportunities for lab automation and informatics vendors. Such developments indicate the enormous scope for laboratory informatics solutions providers as the life sciences industry is one of the key end users of LIMS.
Based on mode of delivery, the global LIMS market is segmented into web and cloud-based LIMS and on-premise LIMS. The factors contributing to the largest market share are the real-time analysis capabilities of web and cloud-based LIMS, easy access to data, internal and external data sharing ability, cost-effectiveness, and scalability offered by web and cloud-based LIMS.
Based on offering, the global LIMS market is segmented into software and services. The software helps in efficient decision-making through advanced technologies, improved data and report quality, regulatory compliance, easy data accessibility, and better data storage. The key factors attributing to the large market share for the software segment are technological advancements in software offerings, the growing need to integrate LIMS software into existing laboratory systems, increasing awareness about lab informatics, and decreasing the cost of informatics solutions.
Based on type, the global LIMS market is segmented into multi-purpose LIMS and purpose-built LIMS. Purpose-built LIMS is designed for a particular type of laboratory and industry. Purpose-built LIMS is specifically designed to address the needs of specific industries such as pharmaceutical manufacturing R&D, food & beverage, oil & gas, and QA/QC testing laboratories. Minimized project risks, simpler system upgrades, and enhanced compliance will likely enhance the demand for purpose-built LIMS.
Based on end user, the global LIMS market is segmented into life sciences, food & beverage industry, petrochemicals and oil & gas industries, chemical industry, environmental testing laboratories, and others. The key factors attributing to the large market share are the rise in R&D activities, high adoption of LIMS in pharmaceutical laboratories, increased concern over data integrity, validity, and security due to regulatory pressures, cost efficiency, and enhanced productivity.
The factors supporting the largest share are a well-established economy and financial capability to adopt new & advanced technologies, strict government regulations that push laboratories to deploy data management systems across industries, a high level of automation in laboratories, the presence of leading LIMS vendors, and need for integration of laboratory systems.
High spending on R&D across universities in the U.S. also supports the segment’s largest share. The top ten universities in the National Science Foundation’s (NSF) 2020 listing spend an excess of USD 1 billion on R&D. For instance, Johns Hopkins University (JHU) spent USD 3.1 billion in 2020. These factors have contributed to the adoption of LIMS, resulting in the largest market share.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments that led market participants to adopt over the past three years. The key players profiled in the laboratory information management system market report are LabWare, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabLynx, Inc. (U.S.), Labworks LLC (U.S.), Agilent Technologies, Inc. (U.S.), Labii Inc. (U.S.), Accelerated Technology Laboratories, Inc. (U.S.), LABTrack (U.S.), Computing Solutions, Inc. (U.S.), Dassault Systèmes (France), Ovation (U.S.), CloudLIMS.com (U.S.), STARLIMS Corporation (U.S.), Autoscribe Limited (U.K.), Illumina, Inc. (U.S.), Siemens AG (Germany), and Novatek International (Canada).
Lab Information Management System Market, by Mode of Delivery
Lab Information Management System Market, by Offering
Lab Information Management System Market, by Type
Lab Information Management System Market, by End User
Lab Information Management System Market, by Geography
This study offers a detailed assessment of the laboratory information management system market, including the market size & forecast for various segmentation like mode of delivery, offering, type, and end user. The laboratory information management system market studied in this report also involves the value analysis of various segments and sub-segments of laboratory information management systems at regional and country levels.
The global laboratory information management system market is projected to reach $1.75 billion by 2030, at a CAGR of 7.4% during the forecast period.
Based on mode of delivery, the web and cloud-based systems segment is estimated to hold the largest share in 2023.
Based on type, the purpose-built LIMS segment is expected to grow at the highest CAGR over the forecast period. Purpose-built LIMS for pharma is designed to meet the workflow of the pharmaceutical manufacturing and QA/QC lab, enabling pharmaceutical manufacturing companies to achieve significant time savings in installation and validation efforts. A well-designed and implemented purpose-built LIMS can help pharmaceutical laboratories improve their efficiency, accuracy, and compliance, leading to better drug development and manufacturing outcomes.
The growth of this market is mainly attributed to the increasing R&D activities in the life sciences industry, the growing automation in laboratories, technological advancements in laboratory informatics solutions, and stringent regulatory requirements. Moreover, emerging economies and cloud-based LIMS offer significant opportunities for market growth.
The key players profiled in the global laboratory information management system market report are LabWare, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabLynx, Inc. (U.S.), Labworks LLC (U.S.), Agilent Technologies, Inc. (U.S.), Labii Inc. (U.S.), Accelerated Technology Laboratories, Inc. (U.S.), LABTrack (U.S.), Computing Solutions, Inc. (U.S.), Dassault Systèmes (France), Ovation (U.S.), CloudLIMS.com (U.S.), STARLIMS Corporation (U.S.), Autoscribe Limited (U.K.), Illumina, Inc. (U.S.), Siemens AG (Germany), and Novatek International (Canada).
Emerging economies in the Asia-Pacific region are projected to offer significant growth opportunities to the market players due to the rising adoption of AI-enabled LIMS, increasing need for quality control and regulatory compliance in industries such as pharmaceuticals, food and beverage, the rise of precision medicine and personalized healthcare, and environmental monitoring, and the increasing patient population.
Published Date: Jun-2024
Published Date: Jan-2023
Published Date: Oct-2018
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