Market Overview
The Global Laboratory Information Management System Market is expected to reach a value of USD 2.4 billion in 2023, and it is further anticipated to reach a market value of USD 4.3 billion by 2032 at a CAGR of 7.0%.
A Laboratory Information Management System (LIMS) is software that helps in laboratory functions by overseeing workflow, specimen tracking, & data aggregation for research or business insights. It ensures compliance with regulations & standards, facilitating precise, reliable, & faster data production. LIMS finds large use in diverse industries like life sciences, chemicals, and oil & gas, improving efficiency & data quality
Market Dynamic
The Lab Information Management System (LIMS) market is experiencing significant growth driven by technological advancements like
artificial intelligence, cloud computing, and predictive analytics. These innovations streamline laboratory operations, cut costs, & boost productivity.
Cloud computing, in particular, allows effective & economical data management globally. Further, the fast development of
healthcare infrastructures & governmental backing for digital services in countries like China & India create better growth opportunities for the LIMS market in the coming future, fostering its long-term expansion.
However, potential obstacles exist, like high maintenance & service costs, a lack of integration standards, privacy & security concerns, along the complexity of integrated systems, which if not effectively addressed on time, could impede the overall growth of the global LIMS market, highlighting the need for strategic solutions & proactive measures.
Research Scope and Analysis
By Product
The global market is segmented by product into on-premise, web-hosted, & cloud-based categories. In 2023, the cloud-based product segment leads the market and is anticipated to maintain its dominance with the fastest growth throughout the forecasted period, which is due to the accessibility of data from virtually infinite points, an important advantage in the expanding realm of remote work. Features like virtual access points contribute to the flexibility that underpins the cloud-based segment's dominance. In addition, factors like less IT manpower, affordable data management, & straightforward deployment further drive the growth of this segment.
Further, the web-hosted segment accounts for the second-largest revenue contributor, driven by widespread adoption across different laboratories, like R&D departments, public utilities, manufacturing companies, & labs in environmental, chemical, contract, & quality control domains. Also, the on-premise segment, valued for its customizability & reliability, and is expected to experience significant growth in the coming years, gaining popularity for its unique advantages in comparison to other LIMS services
By Component
The global Laboratory Information Management System (LIMS) market is categorized into software & services based on its components, of which, the software segment holds the largest share of revenue in 2023, which is expected to persist during the forecast period, which is owing to the growth in adoption of advanced software solutions in laboratory management, supporting automation of distinctive procedures & efficient data management. LIMS software provides a consolidated platform for managing laboratory data, including sample tracking, data analysis, & reporting. It also allows integration with other laboratory systems like Electronic Laboratory Notebooks (ELN) & Laboratory Execution Systems (LES), improving overall procedural effectiveness.
Further, the services segment is expected to contribute significantly to revenue during the forecast period. The growth in end-user demand for professional services, like installation, consulting, & training, boosts the revenue growth of the services segment. Moreover, end-users seek these services to ensure seamless integration & proficient usage, meeting regulatory standards like Good Laboratory Practices (GLP) & ISO 17025.
By End User
The life sciences segment has become the largest market sector in 2023 for Laboratory Information Management Systems, primarily driven by growing adoption in the pharmaceutical sector. The pharmaceutical industry's shortage of skilled professionals has boosted the need for LIMS, offering better capabilities in managing & organizing global information & data. LIMS has proven to be more affordable than manual methods, leading to growing productivity & profitability for manufacturers, which is due to reduced workforce expenses. Further, the demand for LIMS is expected to rise, driven by its proven affordable.
Moreover, the market has experienced a significant growth in demand for LIMS from biobanks, emerging as a major growth catalyst for the industry, which further contributes to the expanding role of LIMS in streamlining data management processes, showcasing a positive trajectory for the laboratory information management system market in the future.
The Laboratory Information Management System Market Report is segmented on the basis of the following:
By Product
- On-Premise
- Web-hosted
- Cloud-based
By Component
By End User
- Life Sciences
- CROs
- Petrochemical Refineries & Oil and Gas Industry
- Food & Beverage & Agriculture Industries
- Others
Regional Analysis
North American market commanded a substantial 46.4% of the total revenue in 2023, majorly driven by supportive policies that support the adoption of laboratory automation, like Electronic Health Record (EHR) programs. The region's dominance is further owing to advanced infrastructure, an increase in the need for genomic studies, & rise in government funding. These factors collectively contribute to the significant market share in North America.
Further, the market in the Asia Pacific region is expected to remarkable growth, which is fueled by a growth in demand for Contract Research Organizations (CROs) offering LIMS services. Moreover, emerging economies like India & Japan recognized as major outsourcing hubs due to their skilled workforce & cost advantages, play a major role in driving this growth. In addition, the relocation of biopharma manufacturing plants to Asia Pacific for cost-effective production is generating higher demand for LIMS solutions across Asian countries.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The laboratory information management system (LIMS) market displays moderate competitiveness, primarily led by key players holding significant market share. As the need for mobile health & LIMS advancements grows, the market anticipates the entry of smaller players, likely gaining substantial shares, which indicates a mix of established leaders & emerging contributors, shaping a dynamic & competitive environment in the LIMS market.
In October 2022, Thermo Fisher Scientific, Inc introduced the 21.1 edition of SampleManager LIMS software, which has features like Analytical Quality Control (AQC) HL7 support, which brings advanced functionalities such as data packager, kit deployment, voice control, & better data support for analytics, monitoring, & charts. These additions enhance the software's capabilities, provide users enhanced tools & features for effective laboratory information management.
Some of the prominent players in the global Laboratory Information Management System Market are:
- Siemens
- LabWare
- Labworks
- LabLynx
- Starlims Corp
- Thermo Fishers Scientific
- Abbott Laboratories
- Dassault Systemes
- LabVantage
- Computing Solutions
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Laboratory Information Management System Market:
The COVID-19 pandemic & the following economic recession have significantly impacted the global Laboratory Information Management System market. The healthcare industry's focus on diagnostics & research grew during the pandemic, driving the need for LIMS in laboratories handling rising testing volumes. However, budget constraints & disruptions in supply chains imposed challenges for market growth. The recession led to a cautious approach to adopting new technologies, impacting the LIMS market's expansion. Despite these challenges, the pandemic underscored the importance of digitalization & data management, encouraging long-term considerations for LIMS adoption. The market is expected to revive as economies recover, highlighting the enduring need for efficient laboratory information management systems in a post-pandemic landscape.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 2.4 Bn |
| Forecast Value (2032) |
USD 4.3 Bn |
| CAGR (2023-2032) |
7.0% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Product (On-Premise, Web-hosted and Cloud-
based), By Component (Software and Services), By
End User (Life Sciences, CROs, Petrochemical
Refineries & Oil and Gas Industry, Food & Beverage &
Agriculture Industries, and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA
|
| Prominent Players |
Siemens, LabWare, Labworks, LabLynx, Starlims Corp,
Thermo Fishers Scientific, Abbott Laboratories,
Dassault Systemes, LabVantage, Computing
Solutions, and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Laboratory Information Management System Market size is estimated to have a value of USD
2.4 billion in 2023 and is expected to reach USD 4.3 billion by the end of 2032.
North America has the largest market share for the Global Laboratory Information Management System
Market with a share of about 46.4% in 2023.
Some of the major key players in the Global Laboratory Information Management System Market are
Siemens, LabWare, Labworks, and many others.
The market is growing at a CAGR of 7.0 percent over the forecasted period.