Laboratory Information Management System (LIMS) Market, By Type (Broad-based LIMS and Industry-specific LIMS), By Component (Services and Software), By Deployment Model (On-premise LIMS, Cloud-based LIMS, and Remotely Hosted LIMS), By End-user (Life Science, Petrochemical Refineries & Oil & Gas, Chemical, Food & Beverage & Agriculture, Environmental Testing Laboratories, and Other Industries), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

Laboratory Information Management System (LIMS) Market accounted for USD 814.32 Billion in 2020 and is estimated to be USD 1482.80 Billion by 2030 and is anticipated to register a CAGR of 6.2%

Impact of COVID-19 on the market

Laboratory informatics is one of the feature that is associated with the data management tools, platform of instruments, and software. These systems helps in permitting scientific data that can be processed, captured, and interpreted for immediate use and also managing, storing, and sharing for supporting future research and development. Laboratory informatics is the generalized feature of information technology for optimizing and extending laboratory operations through a platform of data management instruments, tools, and software.

Growth of the laboratory

Advancements in R&D labs, particularly in pharmaceutical and biotechnological laboratories, are likely to drive the growth of the laboratory information management system market over the forecast period. Rising focus on enhancing the efficiency of laboratories is also composed to help the market gain tremendous momentum over the coming years. Moreover, efficient time management, low implementation cost, and compliance with GDP, GCP, and GMP are the key factors influencing the demand for LIMS.

Additionally, the growing practice of genome and DNA study along with in-vitro ADME technologies is working in favour of the target market. Associated advantages such as high precision and eradication of manual data transcription error are also expected to offer a fillip to the market. Also, the burgeoning popularity of cloud-based systems is anticipated to positively stimulate the growth of the overall market. Laboratory information management systems are being increasingly implemented for biobanking. These systems help to track data quality and effective management, security, patient demographics, end-user billing, and security. They also improve research information integration and data sampling, thus making data access easier.

The laboratory information management system (LIMS) market is segmented based on the type, component, deployment model, end-user, and region.

On the basis of the type, the laboratory information management system (LIMS) market is segmented into broad-based LIMS and industry-specific LIMS. Based on the component, the target market is segmented into services and software. Based on the deployment model, the target market is classified into on-premise LIMS, cloud-based LIMS, and remotely hosted LIMS. Based on the end-user, the target market is classified into life science, petrochemical refineries & oil & gas, chemical, food & beverage & agriculture, environmental testing laboratories, and other industries.

Regional Insights:

In the region, the laboratory information management system (LIMS) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region is demanding for laboratory informatics as there is increased funding from the government for research activities, rising demand for the amalgamation of laboratory systems, easy availability of laboratory informatics services, a growing number of biobanks, and strict government regulations across several industries. Thus, the market in North America is projected to witness a substantial revenue share in the market. Further, the Asia Pacific laboratory informatics market is anticipated to account for the highest market share in the market, owing to the rising number of CROs who are providing LIMS in this region. Surging demand for laboratory informatics in countries such as China and Japan, owing to the growing need for containing operational costs acquired in information management and analysis is also one of the factors that propelling the growth of the market in the Asia Pacific region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at , regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030.  For the purpose of this study, has segmented the laboratory information management system (LIMS) market report based on type, component, deployment model, end-user, and region.

laboratory information management system Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the laboratory information management system (LIMS) market include Thermo Fisher Scientific, Inc., LabVantage Solutions, Inc., LabWare, Core Informatics, LLC, Agilent Technologies, PerkinElmer, Inc., Abbott Laboratories, LabLynx, Inc., Cerner Corporation, and McKesson Corporation. Key players are focusing on adopting strategies such as new product launches, partnership, regional expansion, and distribution agreements to expand their revenue share. For instance, in February 2020, LabVantage announced the addition of a fully integrated scientific data management system to its LIMS Platform.

• Thermo Fisher Scientific, Inc.
• LabVantage Solutions, Inc.
• LabWare
• Core Informatics, LLC
• Agilent Technologies
• PerkinElmer, Inc.
• Abbott Laboratories
• LabLynx, Inc.
• Cerner Corporation
• McKesson Corporation