The global laboratory information management system (LIMS) market is expected to reach USD 1,355.0 million by 2023 from USD
747.3 million in 2018, at a CAGR of 12.6%. Growth in this market is
driven by the increasing use of LIMS to comply with stringent regulatory
requirements, increasing focus on improving the efficiency of
laboratories, technological advancements in LIMS offerings, increasing
R&D expenditure in pharmaceutical and biotechnology companies, and
growing adoption of cloud-based LIMS.
This report segments the LIMS market into type,
component, deployment model, industry, and region. Based on type, the
market is segmented into broad-based LIMS and industry-specific LIMS.
The broad-based LIMS segment accounted for the largest market share in
2018. These solutions provide users with significant room for
customization and interpretation that can support multiple businesses
across different geographic locations; these factors are driving the
adoption of broad-based LIMS. Furthermore, broad-based solutions also
help streamline laboratory workflow processes and improve
decision-making and reporting. These advantages also expected to drive
their uptake in the coming years.
In 2018 North America accounted for the largest
market share followed by Europe. Strong economies of the US and Canada
that allows a significant investment in new technologies, growth in
biobanks, easy availability of LIMS products and services, and stringent
regulatory requirements across industries are the key factors driving
the growth of the LIMS market in North America.
However, the high maintenance and service costs and
the lack of integration standards for LIMS are expected to restrain the
growth of this market during the forecast period.
The laboratory information management system market
is highly competitive with the presence of several small and big
players. Prominent players in the market include LabWare (US), Thermo
Fisher Scientific (US), Abbott Informatics (US), LabVantage Solutions
(US), were the leading players in the LIMS market. Other major players
include LabLynx. (US), Autoscribe Informatics (US), Computing Solutions
(US), GenoLogics (Canada), LABWORKS (US), Dassault Systèmes (France),
Siemens (Germany), and Accelerated Technology Laboratories (US).
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