The implementations and success of LIMS in the manufacturing industries are deeply influenced by quality, security, and compliance requirements. Moreover, recently there has been an increasing focus on target-based drug development activities by biotechnology and pharmaceutical companies in various developing regions such as Japan, U.S & other countries. Today’s laboratories generate vast amounts of valuable data. Tracking samples and associated test data through the laboratory, and using that data to generate certificates of analysis, management reports and other information-based insights has become important factor in managing and optimizing the laboratory and the business. Therefore, LIMS are opted to manage the laboratory workflow, organize the data efficiently and support the business of the laboratory.
In December 2021, according to the article published in Autoscribe Informatics, The Garvan Institute of Medical Research in Australia utilizes Matrix Gemini LIMS to efficiently manage samples for genomics and stem cell research, enabling rapid analysis and decision-making. This capability allows researchers to adapt quickly to new findings and regulatory demands, highlighting the growing need for quick decision-making processes in biotechnology as a key driver for the LIMS market
The increasing requirement for quick decision-making processes in biotechnology serves as a significant driver for the Laboratory Information Management System (LIMS) market. As biotech research accelerates, organizations need to adapt rapidly to new findings and market changes. LIMS supports this need by providing real-time data access and analytics, allowing scientists to make informed decisions swiftly. Enhanced collaboration among multidisciplinary teams is facilitated by centralized data sharing, while LIMS also ensures regulatory compliance by making necessary documentation readily available. This system optimizes resource allocation, improves workflow efficiency, and maintains data integrity and security, all of which are crucial for maintaining a competitive edge in the fast-paced biotech landscape. As companies strive for agility and innovation, LIMS becomes essential for enabling rapid, informed decision-making, further propelling its adoption in the market.
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Data Bridge Market Research analyzes that the Global Laboratory Information Systems Market is expected to reach USD 2.93 billion by 2031 from USD 1.46 billion in 2023, growing with a CAGR of 9.1% in the forecast period of 2024 to 2031.
Key Findings of the Study
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable 2016 - 2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Component (Service and Software), Product (Integrated LIS and Standalone LIS), Delivery (Cloud-Based, Remotely-Hosted, and On-Premise), End User (Hospital Laboratories, Independent Laboratories, Physician Office Laboratories, and Others)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Thermofisher Scientific Inc. (U.S.), Roper Technologies Inc. (U.S.), PerkinElmer Inc. (U.S.), Illumina Inc. (U.S.), Agilent Technologies Inc. (U.S.), Agaram Technologies Pvt. Ltd. (India), Autoscribe Informatics (England), Benchling (U.S.), CompuGroup Medical (Germany), CliniSys (U.K.), Epic Systems Corporation (U.S.), Infors AG (Switzerland), KritiLIMS.in (India), Labsols (U.K.), LabVantage Solutions Inc. (U.S.), LQMS (Dubai), MCKESSON CORPORATION (U.S.), Novatek International (Canada), Shimadzu Corporation (Japan), Siemens AG (Germany), and Starlims Corporation (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, patient epidemiology, pipeline analysis, and regulatory framework.
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Segment Analysis
The global laboratory information systems market is segmented into four notable segments based on product, component, delivery, end user.
- On the basis of product, the market is segmented into integrated LIS, and Standalone LIS
In 2024, the Integrated LIS segment is expected to dominate the market
In 2024, the integrated LIS segment is expected to dominate the market with a market share of 64.33% due to the increasing demand for advanced data management solutions.
- On the basis of component, the market is segmented into service and software
In 2024, the service segment is expected to dominate the market
In 2024, the service segment is expected to dominate the market with a market share of 62.76% due to the increasing requirement of effective technologies.
- On the basis of delivery, the market is segmented into cloud based, remotely based, and on-premise. In 2024, cloud-based segment dominate the market with a market share of 44.81%
- On the basis of end user, the market is segmented into hospital laboratories, independent laboratories, physician office laboratories, and others. . In 2024, hospital laboratories segment dominate the market with a market share of 54.21%
Major Players
Data Bridge Market Research analayzes Thermofisher Scientific Inc. (U.S.), Roper Technologies Inc. (U.S.), PerkinElmer Inc. (U.S.), Illumina Inc. (U.S.), Agilent Technologies Inc. (U.S.),as the major companies operating in the market.
Market Developments
- In May 2023, Thermo Fisher and BRIN have partnered to enhance research capabilities in Indonesia, focusing on advancing scientific innovation and collaboration in life sciences, biotechnology, and environmental studies for local researchers
- On September 2024, The Company announced the completion of its acquisition of BIOVECTRA, enhancing its contract development and manufacturing capabilities. This move expanded Agilent's CDMO services and supported gene editing, reflecting its commitment to advancing therapeutics programs with best-in-class manufacturing
- In September 2021, PerkinElmer, Inc. has successfully completed its acquisition of BioLegend for approximately $5.25 billion, marking its largest acquisition to date. This strategic move enhances PerkinElmer's life sciences portfolio in areas like cytometry and proteogenomics. Leaders from both companies anticipate collaborative innovation that will drive new therapeutic discoveries and advance scientific research
- In September 2020, Roper Technologies, Inc. had announced the acquisition of Vertafore which is a leading SaaS solutions provider. This acquisition will help the company to improve its offerings over SaaS solution, hence customers can be offered variety of solutions with advanced technology and also diversifies the product portfolio
Country Analysis
Geographically, the countries covered in the global Laboratory Information Systems market report U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of the Middle East & Africa.
As per Data Bridge Market Research analysis:
North America is expected to dominate the market during the forecast period of 2024 to 2031
North America is expected to dominate the market due to its well-established healthcare infrastructure and high adoption rate of advanced technologies, including cloud-based solutions and automation. Supportive government initiatives and significant investments in healthcare IT drive innovation and enhance the efficiency of laboratory operations in the region.
Asia-Pacific is expected to be the fastest growing region in the market during the forecast period of 2024 to 2031
Asia-Pacific is expected to be the fastest growing due to rapid advancements in healthcare infrastructure and an increasing focus on adopting digital health solutions. Also, the rising prevalence of chronic diseases and the need for efficient laboratory management systems further fuel the demand for LIS in this region.
For more detailed information about the global Laboratory Information Systems market report, click here – https://www.databridgemarketresearch.com/ar/reports/laboratory-information-systems-lis-market
