Laboratory Information Management Systems (LIMS) Market - Global Industry Analysis 2024

Laboratory information management system (LIMS) is also known as Laboratory information systems (LIS) or laboratory management system (LMS). It is a software that enables clinical laboratories and hospitals to record, store and manage data related to medical processes and tests. LIMS streamlines the laboratory processes and helps reduce the overall operational costs, and manage the database efficiently.

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Market Dynamics

Growth of the global laboratory information management systems market is mainly driven by factors such as rising healthcare IT spending, development of structured regulatory framework in developed nations such as the U.S. and Canada, and increasing inclination of end users such as hospitals and clinical laboratories towards providing quality care. However, lack of trained professionals and high cost of systems are factors hampering market growth. Market players are capitalizing on potential revenue opportunity in emerging economies such as China, India, Brazil, and ASEAN countries, where demand for LIMS is increasing due to growing healthcare IT spending.

Market Taxonomy

This report segments the laboratory information management systems market on the basis of product type, component, delivery mode, and end user. There are two types of commercially available LIMS – standalone and integrated LIMS. On the basis of component the global LIMS market is segmented into hardware, software, and services. The software segment is further sub-segmented into on-premise, web-based, and cloud-based LIMS. End users of LIMS covered in the market report are hospitals, clinics, independent laboratories, and others (retail clinics and nursing homes).

Key features of the study:

This report provides in-depth analysis of the laboratory information management systems and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2016 – 2024), considering 2015 as the base year

It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players

The report takes into account critical limiting factors such as lack of skilled IT professionals and high cost of LIMS while analyzing the market value and growth (%) during the forecast period

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It profiles leading players in the global laboratory information management systems market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies and future plans

Key companies covered as a part of this study include Cerner Corporation, Computer Programs and Systems, Inc. (CPSI), Merge Healthcare, Inc. (International Business Machines (IBM) Corp.), McKesson Corporation, LabWare, EPIC Systems Corporation, SCC Soft Computer, Compugroup Medical AG, Roper Technologies Inc., and Meditech (Medical Information Technology, Inc.)

Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion and marketing tactics

The global laboratory information management systems market report caters to various stakeholders in this industry including investors, device manufacturers, system manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the laboratory information systems market

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