Lab Information Management Systems Market Size to Achieve USD 4.15 Billion by 2031, Fueled by a CAGR of 10.9%: Says Allied Market Research

A laboratory information management system is also known as a laboratory management system, a software system that enables support laboratory operations that can track workflow and specimens, aggregate data for research or business intelligence purposes, and ensure laboratory operations are compliant with various regulations and standards. LIMS enables labs to produce accurate, reliable, reproducible, and faster data. These systems are widely used in various industries such as life science, chemicals, oil & gas, and other industries.

Allied Market Research published a report, titled, "Lab Information Management Systems Market by Product Type (Broad-Based/Multipurpose LIMS, Industry Specific LIMS), by Component (Software, Services), by Delivery Mode (Web-Based and Cloud-Based, On-Premises), by Industry Type (Life Science, Chemical and Energy Industries, Food and Beverage and Agriculture Industries, Clinical Research Organization (CRO)/Contract Manufacturing Organizations (CMO), Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global LIMS Market Size Was Valued at 1.47 billion in 2021 And is Projected to Garner USD 4.15 billion by 2031, registering a CAGR of 10.9% from 2022 to 2031.

What are the factors driving the Lab Information Management Systems Market?

Rise in research & development activities associated with drug discoveries has resulted in a steep surge in the adoption of lab information management solutions across the world, which in turn drives the global lab information management systems market. On the other hand, high costs associated with the same and lack of skilled professionals in the industry impede the growth to some extent. However, rapid development of healthcare infrastructure along with the government's support to digitalized services in developing countries such as China, India, and others has paved the way for lucrative opportunities in the industry.

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Top Lab Information Management Systems Companies:-

• Agilent Technologies Inc.
• Illumina Inc.
• Siemens AG
• LabLynx, Inc. (LabLynx LIMS) Inc.
• Genetic Technologies, Inc.
• PerkinElmer, Inc. Inc.
• CrelioHealth Inc.
• LabWare Inc.
• Abbott Laboratories Executive
• Thermo Fisher Scientific Inc.

Lab Information Management Systems Market Segmentation:-

By product type, the broad-based/ multipurpose LIMS segment contributed to the major share in 2021, holding around three-fifths of the global lab information management systems market revenue. The same segment would also showcase the fastest CAGR of 11.2% throughout the forecast period. This is attributed to the rise in the adoption of broad-based/ multipurpose LIMS across the world. They can collect and share data securely and instantaneously from anywhere to any device.

By delivery mode, the web-based and cloud-based segment accounted for nearly three-fifths of the global lab information management systems market share in 2021, and is expected to maintain the lion's share by 2031. This is because it provides users with the required access to their data from any location and from any device and enables them to store and share data with other users securely.

By industry type, the life science segment garnered the major share in 2021, contributing to around two-fifths of the global lab information management systems market revenue. The same segment would also display the fastest CAGR of 11.3% during the forecast period. This is due to the increased research and development activities in biopharmaceutical industries worldwide.

By region, North America held the major share in 2021, accounting for around two-fifths of the global lab information management systems market revenue. This is owing to the high adoption rate of technologically advanced lab information management system, rise in healthcare expenditure, and the presence of major key players across the region. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 11.9% from 2022 to 2031. The presence of biotech/pharma laboratories and contract research organizations in this province has increased the demand for laboratory information management systems, which has fueled the market growth.

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lab information management systems market analysis from 2021 to 2031 to identify the prevailing lab information management systems market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the lab information management systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global lab information management systems market trends, key players, market segments, application areas, and market growth strategies.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

David Correa
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help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.