Frost Radar™: Laboratory Information Management Systems for the Life Sciences Industry, 2023

Frost Radar™: Laboratory Information Management Systems for the Life Sciences Industry, 2023

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

Laboratory information management systems (LIMS) for the life sciences industry can streamline research programs and improve lab efficiency and collaboration between stakeholders. Of more than 120 participants in this space, this Frost Radar™ highlights the top 12 companies that generated revenue from these systems between 2019 and 2022. These industry participants actively develop, market, and install LIMS solutions.

The global market is valued at about $1 billion and projected to exhibit annual growth between 12% and 14% over the next few years. Frost & Sullivan expects the user base to increase 10% to 12% annually but average per-user prices to continue to decline amid intense competition. Companies will need more value-added features to increase their per-user income.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive pro?les of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.