Laboratory Information Management System Market Size, Share & Trends Analysis Report By Product (Web-hosted, Cloud-based), By Component (Services, Software), By End-use (Life Sciences, CROs), By Region, And Segment Forecasts, 2021 - 2028

Report Overview

The global laboratory information management system market size was valued at USD 1.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. Technological advancements pertinent to pharmaceutical laboratories and the rising demand for lab automation are expected to fuel the demand for the laboratory information management system (LIMS) in coming years.

During the COVID-19 pandemic, the demand for 24/7 laboratory testing, experienced all-time high surge capacity in clinical laboratories, hence resulting in significant stress on the laboratory personnel as well as its infrastructure. Such stressful environments are very undesirable when the laboratories have a large number of potential biohazardous samples every day. Furthermore, delays in testing these samples directly result in delayed clinical decision making and hence consequently congest the emergency departments and isolation units. Leveraging the capabilities of LIMS’ for streamlining all the phases, i.e. pre-analytical, analytical, and post-analytical, has proven beneficial during the COVID-19 pandemic.

Advancements in R&D labs, especially in pharmaceutical and biotechnological laboratories, is expected to enable positive industry growth for laboratory information management system. In addition, low implementation cost, efficient time management, compliance with GDP, GCP, and GMP are the major factors driving the market for laboratory information management system.

Furthermore, technological advancements by major players in the market for laboratory information management system are also expected to fuel market growth. For instance, in July 2020, LabVantage Solutions launched its fully integrated scientific data management system (SDMS) through its LabVantage 8.5 edition. Such factors boost the growth of the market for laboratory information management system.

Product Insights

The cloud-based segment dominated the market for laboratory information management system and accounted for the largest revenue share of 41.0% in 2020. The data can be accessed from multiple locations, multiple systems, and from multiple branches and these are the key factors attributing towards its dominance over the forecast period. Moreover, reduced IT manpower, cost-effective data management, and easy deployability are some other factors attributing to the growth of the segment.

The web-hosted segment accounted for the second-largest revenue share in the market for laboratory information management system owing to its high adoption rate amongst the customers. The on-premise segment is expected to grow as it is more customized and reliable as compared to other LIMS services and thus expected to gain more popularity over the years.

Component Insights

The services segment dominated the market for laboratory information management system and accounted for the largest revenue share of 57.9%in 2020. This is due to the increasing need for LIMS implementation, integration, maintenance, validation, and support. Moreover, the rising demand for LIMS outsourcing solutions is also expected to drive the segment. The software segment is expected to show steady growth in the market for laboratory information management system due to the advancement of a software system from SaaS to more advanced PaaS, CaaS, and community networks.

End-use Insights

The life sciences segment dominated the market for laboratory information management system and accounted for the largest revenue share of 40.6% in 2020. This is owing to the rising adoption of LIMS in pharmaceutical laboratories. Lack of in-house qualified resources, higher productivity, cost efficiency, increasing demand for biobanks and biorepositories are also expected to bolster the growth of this segment.                          

The contract research organization (CRO) segment is expected to show lucrative growth in the market for laboratory information management system due to the increasing demand for outsourcing by pharmaceutical and biotechnological companies. Associated advantages such as cost efficiency, focus on major competencies, mutual benefits to both contractor and client are some other factors driving the segment.

Regional Insights

North America dominated the laboratory information management system market and accounted for the largest revenue share of 46.0% in 2020. The dominance is owing to the supportive policies facilitating laboratory automation adoption such as EHR programs. Moreover, the presence of advanced infrastructure, increasing demand for genomic studies, and rising government funding are some other factors attributing towards the growth of the market in the region.

In Asia Pacific, the market for laboratory information management system is expected to witness the fastest CAGR owing to the increasing number of LIMS providing CROs in this region. Major players outsource LIMS from CROs based in the region to reduce the cost of LIMS support systems and improve operational efficiency. Developing economies such as India and China have emerged as major outsourcing hubs. In April 2020, the Ministry of Health in China has defined an action plan for the deployment of e-health-related solutions to geographically dispersed sections of the country encompassing broad areas of medical services and insurance plans, with a large focus on the adoption of electronic record systems to allow data sharing across the national healthcare system.

Key Companies & Market Share Insights

The market leaders are involved in acquisitions, strategic collaborations, and new product launches to withstand the competition.In March 2021, Autoscribe Informatics released an updated version of its Regulated Manufacturing LIMS, a configured solution based on the Matrix Gemini LIMS solution. The product is ideal for all manufacturing organizations, including the highly regulated industries, such as medical devices and pharmaceuticals, among others. This initiative expanded Autoscribe Informatics' product portfolio. Moreover, in June 2020, Labware announced the production release of its enterprise laboratory platform, Labware 8. Some of the prominent players in the laboratory information management system (LIMS) market include:

• Thermo Fisher Scientific

• Siemens

• LabVantage Solutions Inc.

• LabWare

• PerkinElmer Inc.

• Abbott Laboratories

• Autoscribe Informatics

• Illumina, Inc.

• Labworks

• LabLynx, Inc.

Laboratory Information Management System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global laboratory information management system market report on the basis of product, component, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2028)

  • On-premise

  • Web-hosted

  • Cloud-based

• Component Outlook (Revenue, USD Million, 2016 - 2028)

  • Software

  • Services

• End-use Outlook (Revenue, USD Million, 2016 - 2028)

  • Life Sciences

  • CROs

  • Petrochemical Refineries & Oil and Gas Industry

  • Chemical Industry

  • Food and Beverage and Agriculture Industries

  • Environmental Testing Laboratories

  • Other Industries (Forensics and Metal & Mining Laboratories)

• Regional Outlook (Revenue, USD Million, 2016 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa