Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software & Services), Deployment (On premise, Cloud, SaaS, PaaS, IaaS), Industry (Life Sciences, Chemical, Agriculture, FnB, Oil, Gas), and Region - Global Forecast to 2028

Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software & Services), Deployment (On premise, Cloud, SaaS, PaaS, IaaS), Industry (Life Sciences, Chemical, Agriculture, FnB, Oil, Gas), and Region - Global Forecast to 2028

The global laboratory information management systems market is projected to reach USD 3.3 billion by 2028 from USD 1.6 billion in 2023, at a CAGR of 14.6% during the forecast period. The use of LIMS in cannabis industry to effectively manage the data generated while testing for potency, heavy metal content, pesticide level, microbial analysis, & residue, and the growing integration of mobile technologies into LIMS allowing users to access and interact with the system using smartphones and tablets will provide lucrative opportunities to the market during the forecast period.

“On-premise segment accounted for a substantial share of the laboratory information management systems market, by deployment mode in 2022.”

In 2022, the on-premise segment accounted for a substantial share of the laboratory information management systems market, by deployment mode. The growth of this segment is attributed to the advantaged offered by these solutions in terms of security & privacy. These solutions are more customizable and have a minimum risk of data breach and external attacks.

“Life sciences segment accounted for a considerable share in the laboratory information management systems market, by industry in 2022”

In 2022, the life sciences segment accounted for a significant share of the laboratory information management systems market. The life sciences segment dominates the laboratory information systems market primarily due to the growing outsourcing of various processes by pharmaceutical companies, increasing stringency of regulations, an increasing number of biobanks/biorepositories, and the growing R&D investments/activities among pharmaceutical and biotechnology companies.

“Asia to witness the substantial growth rate during the forecast period.”

The Asian market is projected to grow at the highest CAGR during the forecast period. Factors such as growing demand for advanced technologies such as increased adoption of technologies such as IoT, blockchain, artificial intelligence, machine learning fostering the adoption of LIMS, government initiatives, policies are bolstering the market in the region. Additionally, elements such as improving interoperability standards supporting the integration & implementation of LIMS, growing medical tourism, and development of supporting infrastructure in research laboratories have enabled the organizations in the region to leverage the full potential of LIMS, improving operational efficiency, data accuracy, and patient care.

The break-down of primary participants is as mentioned below:

By Company Type - Tier 1: 38%, Tier 2: 45%, and Tier 3: 17%

By Designation - C-level: 29%, Director-level: 44%, and Others: 27%

By Region - North America: 42%, Asia Pacific: 21%, Europe: 28%, Rest of the World: 9%

Key Players in the laboratory information management systems Market

The key players operating in the laboratory information management systems market include LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Systèmes (France), Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), Computing Solutions, Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Siemens (Germany), Novatek International (Canada), Ovation (US), Clinsys (US).

Research Coverage:

The report analyzes the Laboratory information management systems market and aims to estimate the market size and future growth potential of various market segments, based on type, component, deployment model, and industry, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

Analysis of key drivers (growing use of LIMS to comply with stringent regulation requirements, increasing focus on improving the efficiency of laboratories, technological advancements in LIMS offering, growing adoption of cloud-based LIMS, growing R&D expenditure in pharmaceutical & biotechnology companies), restraints (high maintenance & service costs, lack of integration standards for LIMS, interoperability challenges, limited adoption of LIMS in small & medium-sized companies), opportunities (use of LIMS in the cannabis industry, growing popularity of cloud-based LIMS, significant growth potential in emerging markets), and challenges (dearth of trained professionals, interfacing challenges with informatics software) influencing the growth of the laboratory information management systems market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the laboratory information management systems market.

Market Development: Comprehensive information on the lucrative emerging markets, type, component, deployment model, and industry, and region.

Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the laboratory information management systems market

Competitive Assessment: In-depth assessment of market ranking, growth strategies, product offerings, and capabilities of the leading players in the laboratory information management systems market like LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Systèmes (France), Labworks LLC (US).