Laboratory Information Management System Market to be Worth $1.75 Billion by 2030

Meticulous Research®- a leading global market research company, published a research report titled "Laboratory Information Management System (LIMS) Market by Mode of Delivery (On-premise, Cloud), Offering (Software, Services), Type (Multi-purpose, Purpose-built), End User (Life Science, Food & Beverage, Petrochemical, Chemical) - Global Forecast to 2030."

According to this latest publication from Meticulous Research, the global laboratory information management system market is expected to grow at a CAGR of 7.4% to reach $1.75 billion by 2030. Increasing R&D activities in the life sciences industry, growing automation in laboratories, technological advancements in laboratory informatics solutions, and stringent regulatory requirements are the factors driving the market growth.

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Laboratory Information Management System Market: Future Outlook

The global laboratory information management system market study presents historical market data in terms of values (2021 and 2022), estimated current data (2023), and forecasts it for 2030 - by Mode of Delivery (Web and Cloud-based LIMS and On-premise LIMS), Offering (Software and Services), Type (Multi-purpose LIMS and Purpose-built LIMS), End User (Life Sciences {Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Biobanks & Biorepositories, Contract Research Organizations (CROs), and Other End Users}, Food & Beverage Industry, Petrochemicals and Oil & Gas Industries, Chemical Industry, Environmental Testing Laboratories, and Others), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.

Based on offering, the market is segmented into software and services. The software segment is expected to account for the largest share of the market in 2023, owing to the increasing trend towards laboratory automation, technological advancements in software offerings, and the growing need to integrate LIMS software into existing laboratory systems.

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Based on mode of delivery, the web and cloud-based LIMS is expected to account for the largest share of the market in 2023. Cost-effectiveness, real-time analysis capabilities, easy access to data, internal and external data sharing, flexibility, and scalability offered by web & cloud-based LIMS contribute to the largest market share.

Based on type, the multi-purpose LIMS is expected to account for the largest share of the market in 2023, owing to reduced IT overheads, data standardization, and better collaborations across the organization. Benefits of a multi-purpose LIMS include increased efficiency, improved data accuracy and quality, enhanced compliance, and streamlined workflows. Additionally, a multi-purpose LIMS can help laboratories to manage their resources more effectively, reduce errors, and improve communication and collaboration among staff members.

Based on end user, the life sciences segment is expected to account for the largest share of the market in 2023. The large share can be attributed to the increased regulatory pressures on pharmaceutical companies to maintain data integrity, validity, and security; rising R&D activities; the growing need to improve laboratory productivity; and cost efficiency.

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Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa. North America is expected to account for the largest share of the laboratory information management system market in 2023. The growth of this market is primarily driven by the ease in availability of LIMS services and products, stringent regulatory requirements, advanced infrastructure, and increased adoption of laboratory automation.

Key Players:

The key players profiled in the laboratory information management system market report are LabWare, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabLynx, Inc. (U.S.), Labworks LLC (U.S.), Agilent Technologies, Inc. (U.S.), Labii Inc. (U.S.), Accelerated Technology Laboratories, Inc. (U.S.), LABTrack (U.S.), Computing Solutions, Inc. (U.S.), Dassault Systèmes (France), Ovation (U.S.), CloudLIMS.com (U.S.), STARLIMS Corporation (U.S.), Autoscribe Limited (U.K.), Illumina, Inc. (U.S.), Siemens AG (Germany), and Novatek International (Canada)

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/laboratory-information-management-system-market-4009

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