Global Hospital Laboratory Information Management Systems Market Segmentation, By Type (Broad Based LIMS, Industry-specific LIMS), Component (Software, Services), Deployment Model (On premise LIMS, Remote Hosted LIMS, Cloud LIMS), Industry (Life Sciences, Petrochemical Refineries and Oil and Gas, Food and Beverage and Agriculture, Chemical, Environmental Testing Laboratories, Other Industries) – Industry Trends and Forecast to 2031
Hospital Laboratory Information Management Systems Market Analysis
Hospital laboratory information management systems have evolved over recent years from simple sample tracking to an enterprise resource planning tool. These systems manage multiple aspects of laboratory informatics.
Hospital Laboratory Information Management Systems Market Size
Global hospital laboratory information management systems market size was valued at USD 1.60 billion in 2023 and is projected to reach USD 7.13 billion by 2031, with a CAGR of 20.55% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Hospital Laboratory Information Management Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina, Rest of South America
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Key Market Players
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CliniSys (UK), Thermo Fisher Scientific (US), Abbott (US), Illumina, Inc. (US), LabVantage Solutions Inc (US), LabLynx LIMS (Laboratory Information Management System) (US), Agilent Technologies, Inc. (US), GenoLogics (Canada), Labworks (US), Dassault Systèmes (France), Siemens (Germany), Accelerated Technology Laboratories, Inc. (US), ApolloLIMS. (US), Eusoft Ltd. (Italy), Horizon LIMS. (US), Promium, LLC. (US), among others
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Hospital Laboratory Information Management Systems Market Definition
A laboratory information management system (LIMS), also called laboratory management system (LMS) or laboratory information system (LIS), refers to a software-based solution for modern laboratory operations. Key features of LIMS include data tracking and processing, coupled with workflow management. The system possess flexible architecture and data exchange interfaces.
Hospital Laboratory Information Management Systems Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- The increase in the cost of operations and the decline in reimbursements for laboratory services
The surge in the cost of various medical procedures, along with the reduction in reimbursements for laboratory services, accelerate the demand for hospital laboratory information management systems across healthcare providers and healthcare payers.
- Government investments for healthcare interoperability
The increase in the funding by the federal government to drive the adoption of these solutions further influence the market.
- The rise in the adoption of electronic health records (EHR)
It is a challenge to store the bulk data generated by the electronic health records (EHR) on the local storage devices due to the risk associated with the loss of essential data. Hence, deploying these hospital laboratory information management solutions in the healthcare sector becomes critical to enable easy sharing and storage of big data.
Opportunities
Furthermore, use of LIMS in the cannabis industry and growing popularity of cloud-based LIMS extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
Restraints/Challenges
On the other hand, high maintenance and service costs and lack of integration standards for LIMS are expected to obstruct market growth. Also, interoperability issues and limited adoption of LIMS in small and medium-sized companies are projected to challenge the hospital laboratory information management systems market in the forecast period of 2024-2031.
This hospital laboratory information management systems market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on hospital laboratory information management systems market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Hospital Laboratory Information Management Systems Market
Covid-19 had a positive impact on hospital laboratory information management systems market. The increase in the number of COVID-19 accelerated the demand for laboratory services. Clinical laboratory services are essential in clinical decision making for numerous infectious diseases treatment procedures. Hospital laboratories or diagnostic labs handled multiple steps, including test management, sample handling, and inventory control, among others during the pandemic. The growth of the market is most likely to increase to improve the research and testing activities, along with efficient data management.
Hospital Laboratory Information Management Systems Market Scope
The hospital laboratory information management systems market is segmented on the basis of type, component, deployment model and industry. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Broad Based LIMS
- Industry-Specific LIMS
Component
- Software
- Services
Deployment Model
- On Premise LIMS
- Remote Hosted LIMS
- Cloud LIMS
Industry
- Life Sciences
- Petrochemical Refineries and Oil And Gas
- Food And Beverage and Agriculture
- Chemical
- Environmental Testing Laboratories
- Other Industries
Hospital Laboratory Information Management Systems Market Regional Analysis
The hospital laboratory information management systems market is analysed and market size insights and trends are provided by country, type, component, deployment model and industry as referenced above.
The countries covered in the hospital laboratory information management systems market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hospital laboratory information management systems market because of the supportive policies facilitating laboratory automation adoption, such as EHR programs within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2024 to 20 due to the low-cost production in the region.
The country31 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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Hospital Laboratory Information Management Systems Market Share
The hospital laboratory information management systems 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hospital laboratory information management systems market.
Hospital Laboratory Information Management Systems Market Leaders Operating in the Market Are:
- CliniSys (UK)
- Thermo Fisher Scientific (US)
- Abbott (US)
- Illumina, Inc. (US)
- LabVantage Solutions Inc (US)
- LabLynx LIMS (Laboratory Information Management System) (US)
- Agilent Technologies, Inc. (US)
- GenoLogics (Canada)
- Labworks (US)
- Dassault Systèmes (France)
- Siemens (Germany)
- Accelerated Technology Laboratories, Inc. (US)
- ApolloLIMS. (US)
- Eusoft Ltd. (Italy)
- Horizon LIMS. (US)
- Promium, LLC. (US)
Latest Developments in Hospital Laboratory Information Management Systems Market
- LabWare introduced LIMS—LabWare 8, latest version of its LIMS, in June’2020. LabWare 8 solution is enterprises laboratory platform (ELP) that provides capabilities of both ELN and LIMS in a single integrated system.
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