Laboratory Information Management System (LIMS) Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 542.95 Million |
| Market Size (2029) | USD 862.77 Million |
| CAGR (2024 - 2029) | 9.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Laboratory Information Management System (LIMS) Market Analysis
The Laboratory Information Management System Market size is estimated at USD 542.95 million in 2024, and is expected to reach USD 862.77 million by 2029, growing at a CAGR of 9.70% during the forecast period (2024-2029).
Factors that are responsible for the growth of the laboratory information management system (LIMS) market include the rising demand for bio-banking, increasing focus on improvisation of the laboratory, and technological advancements in LIMS offerings.
From the past few years, there has been an explosive rise in the number of samples generated for research and analysis purposes, due to the rising number of life-threatening diseases. Similarly, a significant rise in the focus on the high quality of samples and efficient management of the same have become great points of concern. This rise in the sample is pushing the researchers toward cost pressure, managing regulatory issues, storage issues, and so on. For the sake of better management of these samples, biobanks are continuously taking efforts. The LIMS helps the biobanks in the management and tracking of the samples that are generated within the framework of clinical trials, cohort projects, various biological studies, genomic studies and specific protocols. In addition, the LIMS also plays a key role in advancing the discoveries with the provision of concerned biospecimens to the end users, such as hospitals and clinics. However, factors such as the cost associated with the implementation of a laboratory information management system, among others, may hinder the market growth.
Laboratory Information Management System (LIMS) Market Trends
This section covers the major market trends shaping the Laboratory Information Management System Market according to our research experts:
Software Segment, by Component, is Expected to Hold the Major Revenue Share in the Market
A laboratory information management system (LIMS) software helps in the effective management of samples and data associated with it. With the help of LIMS, a lab can integrate instruments, manage samples, and automate the workflows. LIMS software is also being used in modern genomics. The unprecedented amount of data that is generated from modern genomics is easily managed with the help of the LIMS software. Owing to the increased efforts of clinicians and researchers for the betterment of lab operations and the increasing number of samples in the labs, the demand for LIMS software is increasing, which is contributing to the growth of this segment of the market studied.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America currently dominates the market for laboratory information management systems and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. This can be majorly attributed to the increasing adoption of the systems in the country. The presence of a developed healthcare infrastructure is expected to propel the market in the United States.
Laboratory Information Management System (LIMS) Industry Overview
The laboratory information management system market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. With the rising need for mobile health and advances in LIMS, few smaller players are expected to enter into the market and may hold a substantial share. Some of the major players of the market are Abbott Laboratories, LabVantage, McKesson Corporation, LabLynx, and Siemens Healthcare GmbH, among others.
Laboratory Information Management System (LIMS) Market Leaders
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Abbott Laboratories
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LabVantage
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LabLynx
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McKesson Corporation
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Siemens Healthineers AG
*Disclaimer: Major Players sorted in no particular order
Laboratory Information Management System (LIMS) Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Demand for Biobanking
- 4.2.2 Increasing Focus on Improvisation of Laboratory
- 4.2.3 Technological Advancements in LIMS Offerings
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4.3 Market Restraints
- 4.3.1 Cost Associated with Implementation of Laboratory Information Management System
- 4.3.2 Rising Data Security and Privacy Concerns
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Component
- 5.1.1 Software
- 5.1.2 Services
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5.2 By Mode of Delivery
- 5.2.1 On-premise
- 5.2.2 Cloud-based
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5.3 By End User
- 5.3.1 Hospital
- 5.3.2 Clinic
- 5.3.3 Other End Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East & Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East & Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 LabVantage
- 6.1.3 LabWare
- 6.1.4 McKesson Corporation
- 6.1.5 Thermo Fisher Scientific
- 6.1.6 LabLynx
- 6.1.7 Computing Solutions
- 6.1.8 Labworks LLC
- 6.1.9 Siemens Healthineers AG
- 6.1.10 Dassault Systemes
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Laboratory Information Management System (LIMS) Industry Segmentation
The laboratory information management system (LIMS) is a part of laboratory systems that help in the integration of laboratory operations, such as consolidation of test results and speeding up the overall operations being carried out in the laboratory.
Laboratory Information Management System (LIMS) Market Research FAQs
How big is the Laboratory Information Management System Market?
The Laboratory Information Management System Market size is expected to reach USD 542.95 million in 2024 and grow at a CAGR of 9.70% to reach USD 862.77 million by 2029.
What is the current Laboratory Information Management System Market size?
In 2024, the Laboratory Information Management System Market size is expected to reach USD 542.95 million.
Who are the key players in Laboratory Information Management System Market?
Abbott Laboratories, LabVantage, LabLynx, McKesson Corporation and Siemens Healthineers AG are the major companies operating in the Laboratory Information Management System Market.
Which is the fastest growing region in Laboratory Information Management System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Laboratory Information Management System Market?
In 2024, the North America accounts for the largest market share in Laboratory Information Management System Market.
What years does this Laboratory Information Management System Market cover, and what was the market size in 2023?
In 2023, the Laboratory Information Management System Market size was estimated at USD 494.94 million. The report covers the Laboratory Information Management System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Laboratory Information Management System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key challenges faced in the Laboratory Information Management System (LIMS) Market?
The key challenges faced in the Laboratory Information Management System (LIMS) Market are a) Initial investment and ongoing maintenance expenses associated with LIMS software and infrastructure b) Meeting evolving regulatory requirements for data integrity and traceability within the laboratory environment
Laboratory Information Management System Industry Report
The global laboratory information management system (LIMS) market is on a significant upswing, fueled by the demand for lab automation and a keen focus on enhancing laboratory efficiency. Technological advancements have made LIMS more accessible and efficient, catering to a wide array of applications from pharmaceutical labs to biobanks. The shift towards cloud-based solutions is revolutionizing the market with its promise of seamless data integration, reduced IT costs, and superior accessibility. Despite the hurdles of high implementation costs and data security issues, the burgeoning need for effective data management and regulatory compliance in sectors like life sciences, environmental testing, and food and beverage is propelling the market forward. Laboratory information system companies are at the forefront, expanding their offerings to meet the evolving needs of these industries, ensuring streamlined workflows and adherence to standards. According to Mordor Intelligence™ Industry Reports, the LIMS market is witnessing robust growth in share, size, and revenue, with a positive forecast outlook. For a comprehensive market analysis and forecast, access a free report PDF download from Mordor Intelligence™, highlighting the dynamic growth and opportunities within the LIMS market.
