Laboratory Information Management System (LIMS) Market Size in 2023 To 2028 | LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Système

"The global laboratory information management systems market is projected to grow at a CAGR of 14.6% between 2023 and 2028."

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The key players operating in the laboratory information management systems market include LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Systèmes (France), Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), Computing Solutions, Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Siemens (Germany), Novatek International (Canada), Ovation (US), Clinsys (US).

The global laboratory information management systems market is projected to reach USD 3.3 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 14.6% during the forecast period. The use of LIMS in industry to effectively manage the data generated while testing for potency, heavy metal content, pesticide level, microbial analysis, & residue, and the growing integration of mobile technologies into LIMS all owing users to access and interact with the system using smartphones and tablets will provide lucrative opportunities to the market during the forecast period.

"On-premise segment accounted for a substantial share of the laboratory information management systems market, by deployment mode in 2022."

In 2022, the on-premise segment accounted for a substantial share of the laboratory information management systems market, by deployment mode. The growth of this segment is attributed to the advantaged offered by these solutions in terms of security & privacy. These solutions are more customizable and have a minimum risk of data breach and external attacks.

"Life sciences segment accounted for a considerable share in the laboratory information management systems market, by industry in 2022"

In 2022, the life sciences segment accounted for a significant share of the laboratory information management systems market. The life sciences segment dominates the laboratory information systems market primarily due to the growing outsourcing of various processes by pharmaceutical companies, increasing stringency of regulations, an increasing number of biobanks/biorepositories, and the growing R&D investments/activities among pharmaceutical and biotechnology companies.

"Asia to witness the substantial growth rate during the forecast period."

The Asian market is projected to grow at the highest CAGR during the forecast period. Factors such as growing demand for advanced technologies such as increased adoption of technologies such as IoT, blockchain, artificial intelligence, machine learning fostering the adoption of LIMS, government initiatives, policies are bolstering the market in the region. Additionally, elements such as improving interoperability standards supporting the integration & implementation of LIMS, growing medical tourism, and development of supporting infrastructure in research laboratories have enabled the organizations in the region to leverage the full potential of LIMS, improving operational efficiency, data accuracy, and patient care.

The break-down of primary participants is as mentioned below:

By Company Type - Tier 1:38%, Tier 2: 45%, and Tier 3: 17%
By Designation - C-level: 29%, Director-level: 44%,and Others: 27%
By Region - North America: 42%,Asia Pacific: 21%, Europe: 28%,Rest of the World: 9%
Key Players in the laboratory information management systems Market

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The report analyzes the Laboratory information management systems market and aims to estimate the market size and future growth potential of various market segments, based on type, component, deployment model, and industry, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

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This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would helpthem garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This release was published on openPR.