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 efficiency of laboratories is also poised to help the market gain tremendous momentum over the coming years. In addition, low implementation cost, efficient time management, and compliance with GDP, GCP, and GMP are the key factors escalating the demand for LIMS.
Moreover, 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 error are also anticipated to provide a fillip to the market. Furthermore, 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 bio banking. 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, dearth of skilled professional to manage advanced technologies is inhibiting the growth of the market.
On the basis of 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 cloud-based setup, data can be accessed from multiple locations, multiple systems, and from 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. Beside this, cloud-based laboratory information management systems are estimated to post the highest CAGR during the same period.
The market, based on component, has been bifurcated into software and services. The services segment led the market in 2017 owing to 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, 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 system from SaaS to more advanced PaaS, CaaS, and community network.
Life science was the most prominent end-use segment in the market in 2017,owing to 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 bolster their 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.
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, 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 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.
The market is marked by presence of various small and large companies. The laboratory market is competitive in nature. It is dominated by participants such as Thermo Fisher Scientific, Inc.; Siemens Group SA; LabWare; Abbott Laboratories;Autoscribe Informatics. Other promienent 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) in order to improve their LIMS portfolio.
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Attribute |
Details |
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Base year for estimation |
2017 |
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Actual estimates/Historical data |
2014 - 2016 |
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Forecast period |
2018 - 2025 |
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Market representation |
Revenue in USD Million & CAGR from 2018 to 2025 |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, MEA |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors and trends |
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Country Scope |
U.S., Canada, Germany, U.K., Japan, China, India, Brazil, Mexico, South Africa |
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15% free customization scope (equivalent to 5 analysts working days) |
If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
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 the purpose of this study, Grand View Research has segmented the global laboratory information management system (LIMS) market report on the basis of 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
U.S.
Canada
Europe
U.K.
Germany
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
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