North America Laboratory Information Management Systems (LIMS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Standalone and Integrated), Deployment (On-Premise Delivery Mode, Web-Based Delivery Mode, and Cloud-Based Delivery Mod

North America Laboratory Information Management Systems (LIMS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Standalone and Integrated), Deployment (On-Premise Delivery Mode, Web-Based Delivery Mode, and Cloud-Based Delivery Mode), Component (Software and Services), Application (Sample Management, Workflow Automation, Records Management, Logistics Management, Enterprise Resource Planning, and Decision Making), and End-User (Hospitals & Clinics, Pharmaceutical Companies, Contract Research Organizations, and Other End Users)

The laboratory information management systems (LIMS) market in North America is expected to grow from US$ 648.09 million in 2021 to US$ 1,400.64 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028. Laboratory automation is emerging as an approach to minimize human involvement in laboratory processes. The automation of routine laboratory procedures with the help of dedicated workstations and system software helps increase laboratory efficiency. It enables researchers to concentrate on important tasks and avoid human errors. Laboratories are increasingly adopting laboratory information management systems (LIMS) to maintain stringent regulatory compliance, uplift efficiency and productivity, and drive data security and integrity. According to a study published in the Journal of Lab Automation, the error incidences in fully automated, semi-automated, and manual operations are 1-5%, 1-10%, and 10-30%, respectively. The growing use of digital workstations, automated analyzers, and total laboratory automation (TLA) allows laboratory personnel to reassign activities and contribute a greater value to operations.

Moreover, high volumes of data generated by laboratory systems are triggering the demand for effective data processing, analysis, and sharing methods, thereby highlighting the need for efficient and cost-effective solutions such as the LIMS. Laboratory management departments are facing many challenges with the rising population submitting a larger number of samples to laboratories and the lack of personnel to process those samples. Therefore these challenges are causing burden on the laboratory operations, as laboratories have to maintain control over the influx of samples and find a way to improve workflow to deliver patient results in a timely manner. According to the 2018 Vacancy Survey of Medical Laboratories by the American Society for Clinical Pathology (ASCP), the field has been experiencing a significant shortage of qualified and certified laboratory professionals. Further, the growing demand for data integration is another factor contributing to the laboratory information management systems market growth. With pharmaceutical and biotechnological industries spending huge amounts on research and development activities, the scientific communities are generating huge volumes of data. The appropriate processing and interpretation of the collected data require data integration solutions. For instance, in 2000, Quest Diagnostics—a prominent independent testing laboratory—started providing their consumers with direct access to test results through the TheDailyApple.com website owned and managed by Caresoft Inc. It offers direct-to-consumer test results, thereby ensuring the confidentiality and anonymity of patients. Manual processes and paper records may allow unauthorized access to data, which increases the chances of data manipulation. Hence, managing data integrity is a big challenge faced by laboratories dependent on manual operations. The increasing adoption of electronic health record (EHR) systems in outpatient clinics and hospitals to mitigate the risks associated with manual operations would fuel the demand for LIMS. The systems also allow the use of laboratory data to offer safe and high-quality patient care. Thus, the growing focus on effective clinical workflow management, leading to the rise in automation of laboratory processes, is driving the laboratory information management systems market.

North America has been witnessing a growing number of COVID-19 cases since its outbreak. The chaotic situation was created in the medical industry across the countries, increased demand for clinical diagnostics and therapeutic systems have dramatically increased in the hospitals. Due to COVID-19, the increasing infection rate among the healthcare workers and patients demand for medications across the region has been increased. Therefore, healthcare facilities, clinical laboratories, and pharmaceutical and biotech companies prefer automated systems to handle the burden of COVID-19. There has also been an increasing demand for centralized laboratory information and data reporting systems, which has created an opportunity to adapt the laboratory information management systems to deal with a massive number of clinical examinations and research & development of new therapeutics.

Moreover, the escalating demand for rapid and quality diagnosis of COVID-19 infections with minimum error has resulted in increased adoption of laboratory information systems in North America. For instance, in March 2020, Cloud LIMS—a US-based market player—launched COVID-19 LIMS, a free LIMS solution for COVID-19 research and testing laboratories and biobanks. CloudLIMS has already helped many laboratories in the US with COVID-19 research and diagnostic testing. CloudLIMS is preconfigured with COVID-19 specific tests, such as RT-PCR, serological tests for detecting IgG/IgM antibodies, enzyme-linked immunosorbent assay (ELISA), neutralization test, and rapid diagnostic test (RDT).

The North America laboratory information management systems (LIMS) market is segmented based on type, deployment, component, application, and end-user. Based on type, the market is bifurcated into standalone and integrated. In 2021, the standalone segment held the largest share in the market. Standalone systems comprise only one module and are designed to address a specific need in healthcare settings. As the system deals with only one process, the installation and maintenance costs are less than integrated systems. Small & medium size healthcare organizations prefer standalone platforms to improve the quality and efficiency of the laboratory information system. Standalone platforms allow customized care services according to provider preference. The cost associated with these platforms is less than mainstream integrated systems and helps reduce operational costs by saving time for tests. The prominent players offering standalone LIMS are Abbott, LabVantage Solutions Inc, and Thermo Fisher Scientific, among others.

The North America laboratory information management systems (LIMS) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the North America laboratory information management systems (LIMS) market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the North America laboratory information management systems (LIMS) market. THERMO FISHER SCIENTIFIC INC.; Abbott; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; Accelerated Technology Laboratories, Inc.; LabWare; Autoscribe Informatics; LABWORKS; and LabSoft LIMS by Computing Solutions, Inc. are among the leading companies in the market.

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