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Laboratory Information Management Systems Market Analysis to 2025 - Thermo Fisher Scientific, LabLynx, LABWORKS, Illumina, Abbott, LabVantage Solutions, Accelerated Technology Laboratories, Autoscribe Informatics, LabSoft LIMS by Computing Solutions, and

06-25-2019 02:06 PM CET | Health & Medicine

Press release from: The Insight Partners

Laboratory Information Management Systems Market

Laboratory Information Management Systems Market

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 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.

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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. For instance, 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.

Global laboratory information management systems market, based on the type was segmented into standalone systems and integrated systems. 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.

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The objective of the study is to describe, define, and forecast the laboratory information management systems market by type and region. The report also provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and trends). The report helps to analyze market with respect to individual growth trends, prospects, and contributions to the overall market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

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