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Global Laboratory Information Management System (LIMS) Market Size, Share, Growth, Trends, Opportunity, Competitor Analysis, and Forecast To 2027

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Global Laboratory Information Management System (LIMS) Market Size, Share, Growth, Trends, Opportunity, Competitor Analysis, and Forecast To 2027

February 15
17:35 2021
Global Laboratory Information Management System (LIMS) Market Size, Share, Growth, Trends, Opportunity, Competitor Analysis, and Forecast To 2027
GLOBAL LABORATORY INFORMATION MANAGEMENT SYSTEM (LIMS) MARKET SIZE STUDY WITH COVID-19 IMPACT, 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 INDUSTRY (LIFE SCIENCE, PETROCHEMICAL REFINERIES AND OIL & GAS CHEMICAL, FOOD & BEVERAGE AND AGRICULTURE, ENVIRONMENTAL TESTING LABORATORIES AND OTHER INDUSTRIES) AND REGIONAL FORECASTS 2020-2027

The global laboratory information management systems market was valued at US$ 0.9 Bn in 2019 and is projected to witness considerable growth rate with CAGR of 12.1% during the prognosis period 2020 to 2027. Technological advancements in the laboratories and need of efficient task implementation in the laboratories is estimated to drive the LIMS market towards growth trajectories.

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Data collection, processing and reporting is possible as the LIMS makes use of cloud deployment for various platforms. Various cloud delivery models such as Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) are available in the LIMS. This provides the user feasibility of accessing the data from remote location. Need of easier operations from remote locations is very crucial when research or experimentation is done from locations away from the laboratories. Thus, ease of operability offered by LIMS is achieved by implementation of LIMS which in turn drives the market.

Growing number of laboratories is another major reason for the growing implementation of LIMS across the globe. Large and medium sized hospitals are opening their own laboratories to provide faster and better services to the patients. Moreover, the count of patients and diseases is growing across the world which creates and emergence of laboratories to provide appropriate diagnosis to the clients. Additionally, newly emerging diseases and viruses have resulted in a greater number of people working in the laboratories to create medicines and vaccines sooner. Thus, workforce management becomes necessary which can be achieved by LIMS, thus, booming the market across the globe.

Moreover, increasing implementation of electronic health record (HER) in the hospitals and clinics for gathering and storing patient data has also impacted the market optimistically. Digitization and paperless workplaces have a positive impact on the market.

However, lack of skilled technicians and high implementation and maintenance cost associated with the LIMS might restrict the market growth during the forecast period. However, growing IT spending in the healthcare industry is projected to reduce the impact of the restraint in the coming years.

Competitors of the global LIMS include, Cerner Corporation, McKesson Corporation, Epic Corporation Inc., Medical Information Technology, Inc., SCC Soft Computer, Sunquest Information Systems, Inc., CompuGroup Medical AG, Computer Programs and Systems, Inc., Merge Healthcare, Inc., and Orchard Software Corporation. 

Segmentation

  • By Type:
    • Broad-based LIMS
    • Industry-specific LIMS
    • By Component
      • Software
      • Services
    • By Deployment Model:
      • On-premises LIMS
      • Cloud-Based LIMS
      • Remotely Hosted LIMS
    • By Industry:
      • Life Science
      • Petrochemical Refineries and Oil & Gas
      • Chemical
      • Food & Beverage and Agriculture
      • Environmental Testing Laboratories
      • Others
    • By Region
      • North America
        • The U.S.
        • Canada
        • Mexico
      • Europe
        • The U.K.
        • Germany
        • France
        • Spain
        • Russia
        • Rest of Europe
      • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia & NZ
        • Rest of Asia Pacific
      • South America
        • Brazil
        • Argentina
        • Rest of South America
      • Middle East & Africa
        • U.A.E.
        • Saudi Arabia
        • South Africa
        • Egypt
        • Rest of Middle East & Africa

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