Laboratory Information Management System (Lims) Market Size to grow by USD 1627.3 million between 2024-2028
According to a research report “ Laboratory Information Management System (Lims) Market” by Deployment (On-premise, Cloud-based) Component (Software, Services) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1627.3 million, at a CAGR of 13.46% during the forecast period. Recent advancements in Laboratory Information Management Systems (LIMS) have brought about transformative changes, with significant strides made in the integration of Artificial Intelligence (AI) and Machine Learning (ML) capabilities. This innovation enables automation of data analysis, predictive analytics, and process optimization, empowering laboratories to make informed decisions more efficiently. Additionally, the widespread adoption of cloud-based LIMS solutions has revolutionized data management, offering scalability, flexibility, and enhanced accessibility. By leveraging cloud technology, laboratories can securely store, manage, and access data from anywhere, fostering seamless collaboration and remote operations. Furthermore, LIMS providers are prioritizing data security, implementing advanced encryption techniques, multi-factor authentication, and audit trails to safeguard sensitive laboratory information from cyber threats and unauthorized access..
Browse market data tables, figures, and in-depth TOC on “Laboratory Information Management System (Lims) Market” by Deployment (On-premise, Cloud-based) Component (Software, Services) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By Deployment, the On-premise segment is projected to dominate the market size in 2024
The on-premises segment of the global Laboratory Information Management System (LIMS) market is witnessing significant growth due to the rising demand for secure, customizable, and locally hosted data management solutions. On-premises LIMS systems are installed and operated within an organization's facilities, providing complete control over data storage, access, and configuration. This level of data security is crucial for organizations to comply with stringent data privacy regulations. Thermo Fisher Scientific Inc., a leading provider of on-premises LIMS solutions, caters to the specific workflow requirements of pharmaceutical research laboratories. Their comprehensive offering includes advanced data management and analysis tools, enabling streamlined data processing and adherence to industry standards.
By Component, Software segment is expected to hold the largest market size for the year 2024
The global Laboratory Information Management System (LIMS) market is poised for significant growth, driven by the shift from Software as a Service (SaaS) to more advanced Platform as a Service (PaaS), Cloud as a Service (CaaS), and community networks. Market participants are consistently innovating and expanding their offerings, making LIMS solutions increasingly accessible to businesses of all sizes. Moreover, mid- and small-sized enterprises are increasingly embracing cloud computing, enabling them to utilize application software via high-speed internet connections. These factors collectively contribute to the robust expansion of the software segment of the global LIMS market during the forecast period.
North America is forecasted to hold the largest market size by region in 2024
The Laboratory Information Management System (LIMS) market is a significant business solution for laboratories seeking to streamline operations and enhance efficiency. LIMS implements automated workflows, data management, and reporting capabilities, enabling laboratories to optimize processes, reduce errors, and ensure regulatory compliance. This system is essential for laboratories aiming to deliver accurate results, maintain data security, and improve overall productivity. The global LIMS market is expected to grow substantially due to the increasing demand for automation and data management solutions in various industries, including healthcare, pharmaceuticals, and academia.
The Laboratory Information Management System (Lims) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Laboratory Information Management System (LIMS) market is witnessing significant growth due to the increasing demand for pipeline analysis, result reporting, data analysis, and sample tracking in various research facilities and laboratories. LIMS solutions are essential software solutions that help laboratories manage and analyze their laboratory data, improving operational efficiency and workflows. Data center providers and skilled IT professionals are key players in the market, offering IT solutions that meet the stringent requirements of laboratories, including those in the cannabis industry. Cannabis testing laboratories, which require adherence to regulations such as 21 CFR Part 11, are increasingly turning to LIMS solutions for data-driven decisions. These systems enable scientists to manage tests, experiments, and datasets, facilitating research findings and improving overall research quality. Universities and medical research facilities also benefit from LIMS, as they can manage large volumes of data and ensure data accuracy and security. Informatics plays a crucial role in LIMS, providing advanced data analysis capabilities and enabling seamless integration with other systems.
Market Research Overview
The Laboratory Information Management System (LIMS) market is experiencing significant growth in various sectors, including healthcare regulatory scenarios, biopharma manufacturing facilities, and the life sciences industry. This growth is driven by technology trends such as personalized healthcare, precision medicine, advanced data analytics, machine learning, and artificial intelligence. Capital equipment and hardware infrastructure investments in laboratory infrastructure are essential for implementing LIMS solutions. Data sources from analytical instruments and biorepositories/biobanks are integrated into these systems for result reporting and pipeline analysis. Financial investments in LIMS solutions have increased due to the regulatory framework requirements, including 21 CFR Part 11, and the need for data security and informatics in drug discovery and real-time analytics. The market includes software solutions, platform-as-a-service, infrastructure-as-a-service, and software-as-a-service (SaaS) offerings from software developers and IT solutions providers. The deployment of these solutions can be cloud-based or on-premises, depending on the specific needs of the organization. The regulatory standards for LIMS solutions require technical support, maintenance, training, customization, and scalability. Skilled IT professionals are essential for implementing and managing these systems in academic institutions, healthcare, biotechnology, and cannabis testing laboratories. LIMS professionals use these systems to make data-driven decisions based on research findings, tests, experiments, and datasets in research facilities and laboratories. The market is expected to continue growing due to the digitalization of laboratory automation and services in various sectors.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
