Laboratory Information Management System (LIMS) Market Analysis Report By Product (Web hosted, Cloud based, On Premise), By Component, By End Use (Life Sciences, CRO), And Segment Forecasts, 2018 - 2025

Report Overview

The global laboratory information management system (LIMS) market size was estimated at USD 1.11 billion in 2017. It is expected to witness a CAGR of 9.1% during the forecast period. Technological advancements pertinent to pharmaceutical laboratories and rising demand for lab automation are expected to fuel the demand for these systems in the coming years.

Advancements in R&D labs, especially in pharmaceutical and biotechnological laboratories, are likely to stoke the growth of the market during the forecast period. Growing focus on improving the efficiency of laboratories is also poised to help the market gain tremendous momentum over the coming years. Also, low implementation cost, efficient time management, and compliance with GDP, GCP, and GMP are the key factors escalating the demand for LIMS.

Moreover, the rising practice of genome and DNA study and in-vitro ADME technologies is working in favor of the market. Associated advantages such as high precision and elimination of manual data transcription errors are also anticipated to provide a fillip to the market. Furthermore, the burgeoning popularity of cloud-based systems is projected to positively influence the growth of the overall market.

Laboratory information management systems are being increasingly implemented for biobanking. These systems ensure effective management and tracking of data quality, security, end-user billing, patient demographics, and security. They also improve data sampling and research information integration, thereby making data access easier. However, the dearth of skilled professionals to manage advanced technologies is inhibiting the growth of the market.

Product Insights

Based on the product, the market has been divided into cloud-based, web-hosted, and on-premise. The cloud-based product segment accounted for the largest share in the market in terms of revenue in 2017. With the cloud-based setup, data can be accessed from multiple locations, multiple systems, and multiple branches and these are the key factors supporting the dominance of the segment throughout the forecast horizon.

Moreover, reduced IT manpower, cost-effective data management, and easy deployability are some other factors contributing to the growth of the segment. Besides this, cloud-based laboratory information management systems are estimated to post the highest CAGR during the same period.

Component Insights

The market, based on components, has been bifurcated into software and services. The services segment led the market in 2017 owing to the increasing need for LIMS implementation, integration, maintenance, validation, and support. The segment is also expected to register a higher CAGR during the forecast period, thereby maintaining its dominance in the LIMS market through 2025. Moreover, the rising demand for LIMS outsourcing solutions is also supplementing the growth of the segment.

The software segment is likely to show steady growth during the same period due to advancements in software systems from SaaS to more advanced PaaS, CaaS, and community networks.

End-use Insights

Life science was the most prominent end-use segment in the market in 2017, owing to the surging adoption of LIMS in pharmaceutical laboratories. Lack of in-house qualified resources and increasing demand for biobanks and biorepositories are spurring the growth of the segment. Apart from this, LIMS provides higher productivity and cost efficiency, which is to bolster its deployment in the life science sector.

Contract research organizations (CROs) are poised to show lucrative growth during the forecast period due to spiraling demand for outsourcing from pharmaceutical and biotechnological companies. Associated advantages such as cost efficiency, focus on major competencies, mutual benefits to both contractor and client are stimulating the growth of the segment.

Regional Insights

North America accounted for just over 45.00% of the market in 2017. The region will retain its position in the global arena through 2025, thanks to supportive policies facilitating laboratory automation adoption such as EHR programs. Moreover, the presence of advanced infrastructure, surging demand for genomic studies, and increasing government funding are augmenting the regional market.

The market for laboratory information management systems in the Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period, due to increasing number of LIMS providing CROs in this region. According to the Global Services Location Index (GSLI) rating in 2016, India ranked first among 55 analyzed countries in outsourcing web-enabled services.

Laboratory Information Management System (LIMS) Market Share Insights

The market is marked by the presence of various small and large companies. The laboratory market is competitive. It is dominated by participants such as Thermo Fisher Scientific, Inc.; Siemens Group SA; LabWare; Abbott Laboratories; Autoscribe Informatics. Other prominent companies operating in the market, include Novatek International; LabLynx Inc.; and Promium LLC.

Companies are focusing on implementing strategies such as new product launches, regional expansion, partnership, and distribution agreements to increase their revenue share. For instance, in October 2017, LabVantage Solutions, Inc. announced its latest version of LIMS, LabVantage 8.3,. Furthermore, in February 2018, Accelerated Technology Laboratories announced its collaboration with SciCord Electronic Laboratory Notebook (ELN) to improve its LIMS portfolio.

Laboratory Information Management System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For this study, Grand View Research has segmented the global laboratory information management system (LIMS) market report based on product, component, end-use, and region:

• Product Outlook (Revenue, USD Million; 2014 - 2025)

  • On-Premise

  • Web-hosted

  • Cloud-based

• Component Outlook (Revenue, USD Million; 2014 - 2025)

  • Software

  • Services

• End-use Outlook (Revenue, USD Million; 2014 - 2025)

  • 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; 2014 - 2025)

  • North America

    • The U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

    • India

  • Latin America

    • Brazil

    • Mexico

  • Middle East & Africa

    • South Africa