Laboratory Information Management Systems Market to Reach $2.92 Billion by 2030

In accordance with a recent market research report entitled "Laboratory Information Management System (LIMS) Market," presented by Meticulous Research®, the LIMS market is poised to attain $2.92 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 7.4% from 2022 to 2030.

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Laboratory Information Management Systems (LIMS) play a crucial role in contemporary laboratories, with regulatory agencies outlining specific requirements to ensure the accuracy, reliability, and acceptability of LIMS. Regulatory compliance, involving adherence to various laws, guidelines, and specifications, is a significant challenge for industries such as life sciences, petrochemicals, oil & gas, food & beverage, and agriculture. The stringent regulatory landscape, coupled with the LIMS capability to facilitate data management, enhance data integrity, optimize lab workflows, and support compliance with regulatory guidelines, propels the growth of the LIMS market.

The global laboratory information management systems market is categorized based on Mode of Delivery (On-premise LIMS, Web-based and Cloud-based LIMS), Component (Service, Software), Type (Multi-purpose LIMS, Purpose-built LIMS), and End User (Life Sciences, Food & Beverage, Chemical Industry, Petrochemicals and Oil & Gas Industry, Environmental Testing Laboratories, among others).

For a more detailed analysis, the report assesses industry competitors, examining their market share on both global and regional scales.

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The web-based and cloud-based LIMS systems segment is anticipated to dominate the market in 2023 based on the mode of delivery. The increasing adoption of these systems is attributed to their ability to reduce IT staff responsibilities, eliminate capital expenses, and scale according to laboratory requirements.

In terms of components, the services segment is projected to hold the largest market share in 2023. This is attributed to the widespread adoption of cloud-based models, technological advancements in LIMS solutions, stringent regulatory requirements, and the recurring nature of services.

The purpose-built LIMS segment is expected to witness the highest CAGR during the forecast period. These systems are tailor-made to meet the specific needs of industries such as pharmaceutical manufacturing R&D, food & beverage, oil & gas, and QA/QC testing laboratories.

The life sciences segment is predicted to lead the market in 2023 based on end user, owing to the increasing adoption of LIMS in this technology-intensive industry, characterized by substantial and continuous investments in Research & Development.

Geographically, North America is anticipated to hold the largest market share in 2023, attributed to increased adoption and investment in advanced technologies, the availability of LIMS services and products, and stringent regulatory requirements in various end-user industries.

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Key players in the LIMS market include LabWare, Inc., Thermo Fisher Scientific Inc., LabVantage Solutions Inc., LabLynx, Inc., Labworks, Agilent Technologies, Inc., Labii Inc., Accelerated Technology Laboratories, Inc., LABTRACK, Computing Solutions, Inc., Dassault Systèmes, Ovation, CloudLIMS, STARLIMS Corporation, Autoscribe Informatics, Illumina, Inc., Siemens AG, and Novatek International.

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

Scope of the Report:

Laboratory Information Management Systems Market, by Mode of Delivery

On-premise LIMS
Web-based and Cloud-based LIMS

Laboratory Information Management Systems Market, by Component

Service
Software

Laboratory Information Management Systems Market, by Type

Multi-purpose LIMS
Purpose-built LIMS

Laboratory Information Management Systems Market, by End User

Life Sciences
Pharmaceutical & Biotechnology Companies
Academic and Research Institutes
Biobanks & Biorepositories
CROs
Other Life Science Users
Food & Beverage
Chemical Industry
Petrochemicals and Oil & Gas Industry
Environmental Testing Laboratories
Other End Users

Note: Other life sciences users include diagnostic laboratories and toxicology laboratories. Other end users include forensic laboratories, mining & metal laboratories, and contract manufacturing organizations (CMOs).

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This release was published on openPR.