Europe Laboratory Information Management Systems (LIMS) Market, By Component (Services, Software), Product Type (Broad-Based, Industry-Specific), Delivery (On-Premise, Cloud-Based, Remotely-Hosted), Industry Type (Life Sciences Industry, Chemical/Energy, Food & Beverage & Agriculture Industries, Diagnostics/Medical Device, Clinical Research Organization/Contract Manufacturing Organizations (CRO/CMO) and Others), Distribution Channel (Direct tenders, Retail Sales), Country (Germany, France, U.K., Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey & Rest of Europe). Industry Trends and Forecast to 2029
Market Analysis and Insights: Europe Laboratory Information Management Systems (LIMS) Market
Europe Laboratory Information Management Systems (LIMS) market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 8.9% in the forecast period of 2022 to 2029 and is expected to reach USD 6,28,637.09 thousand by 2029. Technological advancements related to pharmaceutical laboratories and rising demand for lab automation are expected to fuel the growth of the Europe laboratory information management systems (LIMS) market.
A laboratory information management systems (LIMS) software helps in the effective management of samples and data associated with it. With the help of LIMS, a lab can integrate instruments, manage samples, and automate the workflows. LIMS software is also being used in modern genomics. The unprecedented amount of data that is generated from modern genomics is easily managed with the help of the LIMS software. Owing to the increased efforts of clinicians and researchers for the betterment of lab operations and the increasing number of samples in the labs, the demand for LIMS software is increasing, which is further contributing to the growth of the market to an extent.
Integration of varied technologies, such as artificial intelligence and machine learning is the major driving factor in the market. Data complexity and lack of user friendly tools can prove to be a challenge, however increase in strategic decisions, such as partnerships and collaborations, in informatics field can prove to be an opportunity. The restraint is the higher cost of data management & software. Also, challenges faced due to the impact of COVID-19 on the supply chain are one of the major restraining factors.
The Europe laboratory information management systems (LIMS) market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Laboratory Information Management Systems (LIMS) market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Laboratory Information Management Systems (LIMS) Market Scope and Market Size
Europe laboratory information management systems (LIMS) market is segmented into component, product type, delivery, industry type, and distribution channel. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Europe laboratory information management systems (LIMS) market is segmented into software and services. In 2022, services segment is expected to dominate the market due to the increasing need for LIMS implementation, integration, maintenance, validation, and support.
- On the basis of product type, the Europe laboratory information management systems (LIMS) market is segmented into industry specific and board based. In 2022, board based segment is expected to dominate the market as data can be collected and shared securely and instantaneously from any device at any time in his segment. On the basis of delivery, the Europe laboratory information management systems (LIMS) market is segmented into on premise, cloud based, and remotely hosted. In 2022, cloud based segment is expected to dominate the market as data can be accessed from multiple locations, multiple systems, and from multiple branches.
- On the basis of industry type, the Europe laboratory information management systems (LIMS) market is segmented into life science industry, chemical/energy, food and beverage and agriculture industries, diagnostics/medical device, contract research organizations/contract manufacturing organizations (CRO/CMO), and others. In 2022, life science industry segment is expected to dominate the market owing to the rising adoption of LIMS in pharmaceutical laboratories.
- On the basis of distribution channel, the Europe laboratory information management systems (LIMS) market is segmented into direct tenders and retail sales. In 2022, direct tenders segment is expected to dominate the market as it guarantees payment and creates a sustainable business by ensuring a specific amount of sales for the company.
Some of the major players operating in the Europe laboratory information management systems (LIMS) market are Autoscribe Informatics, Novatek International, LabWare, STARLIMS Corporation, IBM, Eusoft Ltd., Infors AG, Siemens, and LabVantage Solutions Inc. among others.
Laboratory Information Management Systems (LIMS) Market Country Level Analysis
The Europe laboratory information management systems (LIMS) market is analyzed and market size information is provided based on country, component, product type, delivery, industry type, and distribution channel as referenced above.
The countries covered in the Europe laboratory information management systems (LIMS) market report are the Germany, France, U.K., Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey & Rest of Europe. Germany dominates the Europe region owing to the supportive policies facilitating laboratory automation adoption such as EHR programs.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Adoption of Automation in Laboratories is Boosting the Market Growth
The Europe laboratory information management systems (LIMS) market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Laboratory Information Management Systems (LIMS) Market Share Analysis
Laboratory Information Management Systems (LIMS) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Laboratory Information Management Systems (LIMS) market.
Some of the major players operating in the Laboratory Information Management Systems (LIMS) market are Autoscribe Informatics, Novatek International, LabWare, STARLIMS Corporation, IBM, Eusoft Ltd., Infors AG, Siemens, and LabVantage Solutions Inc. among others.
Many contracts and agreements are also initiated by the companies’ worldwide which are also accelerating the Laboratory Information Management Systems (LIMS) market.
For instance,
- July 2021, Eusoft Ltd. launched the digital transition communication platform in the B2B world. This innovation helped the company to attract customers during the pandemic situation and improved its customer interaction.
- June 2019, Eusoft Ltd. was certified for ISO 27001 for ISMS. This certification makes it easier for the company to explain its product and improve its trust value for its product and services.
- January 2021, Infors AG expanded its production line to double its capacity. This expansion will help the company meet the high demand of the market, thus resulting in shorter timer delivery, improving customer satisfaction, and accelerating the trust value of the company.
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