Laboratory Information Management Systems Market outlook to 2025 : Accelerated Technology Laboratories, Inc., Autoscribe Informatics, LabSoft LIMS by Computing Solutions, Inc, Thermo Fisher Scientific, Inc., LabLynx, Inc., LABWORKS, Illumina, Inc., Abbott
The Insight Partners: The standalone systems segment held the major market share among the type segment in the laboratory information management systems market
‘Laboratory Information Management Systems Market to 2025 - Global Analysis and Forecasts by Type, Deployment, Component, Application, End User and Geography. The global laboratory information management systems market is expected to reach US$ 1,475.6 Mn in 2025 from US$ 742.8 Mn in 2017. The market is estimated to grow with a CAGR of 9.2% from 2018-2025. The report highlights the trends prevalent in the global laboratory information management systems market and the factors driving the market along with those that act as deterrents to its growth.
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Laboratory Information Management Systems (LIMS) is a software that is used for managing various tasks in the laboratory including workflow management, integrate instruments, records management, logistics management, enterprise resource planning, decision making, privacy and security controls. Laboratories generate ample amount of data which can be managed through LIMS.
In 2017, the standalone segment held the largest share of the market, by type owing to the availability of the current LIMS solutions in these forms. However, the integrated type segment is expected to grow at fastest rate witnessing a CAGR of 9.8% owing to its increasing demand and ability to get integrated with the existing computing systems of the laboratory users.
The market is likely to witness a rapid growth owing to factors such as rising adoption of automation in laboratories and technological advancements in laboratory information management systems. Additionally, the market is also likely to be accelerated by potential market in the emerging nations is expected to offer significant growth opportunities to the market players to capitalize and expand its customer base in Asian and Latin American regions. However, the shortage of skilled IT technicians and high costs of the LIMS are likely to have a negative impact on the growth of the market in the coming years.
Key market players of Laboratory information management systems market are Thermo Fisher Scientific, Inc., LabLynx, Inc., LABWORKS, Illumina, Inc., Abbott, LabVantage Solutions, Inc., Accelerated Technology Laboratories, Inc., Autoscribe Informatics, LabSoft LIMS by Computing Solutions, Inc., and LabWare among others. The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature.
Key Developments in the Laboratory Information Management Systems Market:
• In August 2015, Abbott Informatics announced the release of STARLIMS Technology Platform v11.1. The STARLIMS solution simplifies complex processes, uses analytics to connect the dots, and makes data available on the go.
• Moreover, in October 2018, Abbott announced the launch of version 11.6 of the world-class STARLIMS Laboratory Information Management System (LIMS).
• Additionally, in January 2017, LabVantage Solutions, the leading global laboratory informatics provider, announced the release of LabVantage 8 Pharma. The solution provides the pharmaceutical industry with a pre-validated, pre-configured LIMS. The goal of the solution is to reduce cost, reduce risk and improve lab efficiency overall.
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The report segments the global laboratory information management systems market as follows:
Global Laboratory Information Management Systems Market - By Type
Global Laboratory Information Management Systems Market - By Deployment
• Web-Based Delivery Mode
• Cloud-Based Delivery Mode
• On-Premise Delivery Mode
Global Laboratory Information Management Systems Market - By Component
Global Laboratory Information Management Systems Market - By Application
• Sample Management
• Workflow Automation
• Records Management
• Decision Making
• Enterprise Resource Planning
• Logistics Management
Global Laboratory Information Management Systems Market - By Application
• Pharmaceutical and Biotechnology Companies
• Contract Research Organizations
• Hospitals & Clinics
• Other End Users
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