Laboratory Information Management Systems in the US - Industry Market Research Report

Laboratory Information Management Systems in the US

The industry has seen a significant transformation over the last decade, receiving a shot in the arm from major technological, regulation, and healthcare delivery shifts. This digital tool used in labs to manage data, invoice suppliers, track inventory, enhance data security, and facilitate compliance with regulations has proved vital in improving the operational efficiency and accuracy of various labs in healthcare and industrial research, helping them rise to meet the challenges of 21st-century science and medicine. While healthcare LIMS software is at the center of this industry, software for industrial and engineering labs also contributes. Over the past five years, revenue is anticipated to grow at a CAGR of 3.6% to $581.4 million, including increasing 2.0% in 2023 with a profit of 10.2%.

Companies in this industry develop laboratory information management system (LIMS) software. LIMS software is designed specifically for industrial and medical laboratories to help manage data and information. This industry does not include manufacturers of laboratory equipment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.