Laboratory Information Management System (LIMS) Market analysis report puts across the idea of a high-level analysis of major market segments and identification of opportunities. This information not only aids businesses in taking sound and proficient decisions but also helps decide the advertising, promotion, marketing, and sales strategy more gainfully. Additionally, estimation of strategic options, suggestions of winning action plans, and support to make critical bottom-line decisions is also provided by experienced and innovative industry experts. It supports in adjusting the production depending on the conditions of demand in the market which evades the wastage of goods. The market data analyzed in this Laboratory Information Management System (LIMS) Market report makes achieve the business goal and objective in the predetermined time frame.
The Global Laboratory Information Management System (LIMS) Market is projected to reach USD 2.1 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 13.2%.
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Some of the prominent players operating in the market are
LabWare (US),
LabVantage Solutions (US),
Thermo Fisher Scientific (US),
Abbott Informatics (US),
Agilent Technologies Inc. (US),
LabLynx, Inc. (US),
Dassault Systèmes (France),
Labworks LLC (US),
Autoscribe Informatics (US),
and Accelerated Technology Laboratories (ATL).
This Laboratory Information Management System (LIMS) Market report has a chapter on the global market and all its associated companies with their profiles, which gives valuable data related to their outlook in terms of finances, product portfolios, investment plans, and marketing and business strategies. This market research report provides important and meaningful market insights for the business by taking into consideration various factors. Thoroughly analyzed market segmentation aspect provides a clear idea about the product consumption based on several factors ranging from type, application, deployment model, end-user to geographical region.
Growth of this market is attributed to the increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS.
Industry-specific LIMS segment is projected to record the highest CAGR
Based on type, the LIMS market is segmented into broad-based LIMS and industry-specific LIMS. The broad-based LIMS segment accounted for the largest share of the market in 2020. Broad-based LIMS 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 LIMS solutions also help streamline laboratory workflow processes and improve decision-making and reporting.
Services segment is expected to register the highest growth during the forecast period
Based on the component, the LIMS market is segmented into software and services. Services accounted for the largest share of the market in 2020. This segment is projected to register the highest CAGR during the forecast period. The large share of the services segment can be attributed to the recurring requirement of services, such as training, software upgradation, and software maintenance post-installation.
Cloud based segment is estimated to record the highest CAGR in the forecast period.
Based on the deployment model, the LIMS market is segmented into on-premise, cloud-based, and remotely hosted LIMS. In 2020, the on-premise LIMS segment commanded for the largest share of the market. The large share of this segment can be attributed to the fact that these solutions are more customizable and have minimum risk associated with data breaches and external attacks.
Life sciences segment is estimated to record the highest CAGR in the forecast period.
Based on industry, the LIMS market is broadly segmented into seven categories—life sciences, chemical, food & beverage and agriculture, environmental testing, petrochemical refineries and oil & gas, forensics, and other industries. Life sciences commanded the largest share of the LIMS market, by industry, in 2020. Factors such as growth in the outsourcing of various pharma and biotech processes, increasing stringency of regulations, the increasing number of biobanks/biorepositories, and growing R&D investments/activities in pharmaceutical and biotechnology companies are responsible for the growth of this segment.
North America To Witness Significant Growth From 2021 To 2026
In 2020, North America commanded the largest share of the market, followed by Europe. North America’s dominance in the market can be attributed to the strong economies of the US and Canada, which have allowed for significant investments in new technologies, growth in biobanks, easy availability of LIMS products and services, and stringent regulatory requirements across industries.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into 3 categories, namely by company type, by designation, and by region.
• By Company Type- Tier 1 – 38%, Tier 2 – 45%, Tier 3 – 17%
• By Designation- Managers – 29%, CXOs – 44%, Executives – 27%
• By Region- North America- 42%, Europe- 28%, Asia Pacific- 21%, andRoW – 9%
Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
In this Laboratory Information Management System (LIMS) Market research report, market research analysis data has been presented in a detailed pattern. By identifying trends in consumer and supply chain dynamics, this market analysis report provides estimations about the strategies on sales, marketing, and promotion. Being a global industry analysis report, this report fulfills multiple business demands. To structure this Laboratory Information Management System (LIMS) Market report, various steps have been utilized to bring together, record, and analyze market data. The most up to date market insights and analysis performed in this report brings marketplace clearly into the focus.
Report’s potential
1. Recent industry trends and developments
2. Market Penetration: Comprehensive information on the product portfolios of the top players in the Laboratory Information Management System (LIMS) Market
3. To gain insightful analyses of the market and have a comprehensive understanding of the “Laboratory Information Management System (LIMS) Market” and its commercial landscape
4. Product Development/Innovation: Detailed insights on the product approvals, R&D activities, and product launches in the Laboratory Information Management System (LIMS) Market
5. Strategies of key players and product offerings
6. In-depth market segmentation
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