LIMS Market to Record an Exponential CAGR by 2026

Rise in the advanced technologies and rapid innovations healthcare information technology (IT) enables unlock potential for the companies which are striving in healthcare information technology. Laboratory Information Management System (LIMS) have become important tool for moving the information, gathering, decision making, calculation, review, and release the process away from the office and into work place. LIMS is a software based laboratory and information management system which enables support modern laboratory operations. LIMS has its broad range of applications in various fields such as Environmental science, Pharmaceuticals, Petrochemicals. LIMS has provides its applications in sample management, data mining, data analysis, and electronic laboratory network. In pharmaceutical industry LIMS provides enormous applications such as test library included as standard functionality, dissolution, disintegration, dosage uniformity, drug release, product assays and stability module that simplifies stability studies. Biotechnological applications, LIMS assists Research and Development labs by integrating with instrumentation to provide automation to microarrays, gel electrophoresis, gene expression profiling etc. There is a significant difference between LIMS and LIS. LIMS is aimed to process and report data related to batches of samples from biology labs, drug trails, water treatment facilities. LIS designed for process and report the data related to individual patients. Global LIMS market is expected to exhibit a significant CAGR as well as annual growth over the forecast period.

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LIMS Market: Drivers and restraints

Global Laboratory Information Management System market can be influenced by following factors, LIMS provides wide range of applications to biopharmaceutical companies to address the key challenges in drug development process. Due to applications pharmaceutical companies inclined towards LIMS. Laboratories adopted advanced technologies in order to maintain precision and robust functionality specific for bio analysis, in vitro ADME experiments, and discovery R&D and QA/QC R&D. Key restraints include lack skilled professionals to manage advanced technology is major bottleneck for global LIMS market.

LIMS Market: Segmentation

Global Laboratory Information Management System (LIMS) Market can be segmented as following types

By Product

Software

Hardware

Services

By Delivery Mode

On premise

Cloud Based

By End User

Pharmaceutical Industry

Biotechnology Industry

Hospitals

Research centers

LIMS Market: Overview

Global LIMS market is gaining huge traction due to increasing the demand of LIMS in biopharmaceutical companies and laboratories due to its efficiency and effectiveness. Technological advancements in the laboratory system enables to make significant changes in the market. The LIMS market expected to account a lucrative market as well as robust growth rates over the forecasted period.

LIMS Market: Region-Wise Outlook

Laboratory Information Management System (LIMS) market is segmented into seven key regions: Those are North America, Latin America, Eastern Europe, Western Europe, and Asia pacific excluding japan, Japan, Middle East and Africa.

North America dominating the LIMS market due to increased awareness among the people towards the innovative technologies to maintain laboratory information. Asian Pacific region market is considered to rapidly evolving healthcare infrastructure, the region is anticipated to unlock the potential of LIMS market over the forecast period.

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LIMS Market: Key players

Some of the key players in LIMS Market are Thermo fisher Scientific, Inc., Siemens SA, Perkin Elmer Inc., Labware, Star LIMS (Abbott Laboratories. Abbott Park, U.S.A), Genologics (Illumina, Inc.), Promium LLc. LabLynx Inc., Autoscribe Informatics, Novatek International, Core Informatics etc.

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This release was published on openPR.