Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Global Laboratory Information Management System (LIMS) Market by Type (Industry), Component (Software, Service), Deployment (On-premise, Cloud (SaaS, PaaS, IaaS)), Size (Mid), Industry (Pharma, NGS, Chemical, Agri, FnB, Oil), & Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Laboratory Information Management Systems (LIMS) market is projected to reach USD 3.8 billion by 2029 from USD 2.1 billion in 2024, at a CAGR of 12.9% during the forecast period.
Growth in this market is fueled by the growing need for automated and efficient data management, integration with Electronic Health Records (EHRs) and Health Information Systems (HIS), and an increasing demand for mobile applications and point-of-care testing. However, the dearth of trained professionals and interfacing challenges with informatics software posses a challenge to the market growth. 
On-premise segment accounted for a substantial share of the Laboratory Information Management Systems (LIMS) market, by deployment mode in 2023
On the basis of deployment model, the Laboratory Information Management Systems (LIMS) market is segmented into on-premise LIMS, cloud LIMS, and remote-hosted LIMS. In 2023, the on-premise segment is accounted to hold the largest share of the Laboratory Information Management Systems (LIMS) market, by deployment mode. The growth is attributed to factors such as the specific requirements of certain industries or organizations that prefer keeping their LIMS infrastructure in-house.
On-premise solutions provide these entities with a higher degree of control, customization, and security over their data management processes. Additionally, some organizations opt for on-premise LIMS due to regulatory compliance or data sensitivity concerns. The steady growth in the on-premise segment indicates a continued demand for LIMS solutions that cater to the unique needs and preferences of businesses requiring localized control and management of their laboratory information.
Life sciences segment accounted for a considerable share in the Laboratory Information Management Systems (LIMS) market, by industry in 2023
The Laboratory Information Management Systems (LIMS) market is segmented into life sciences, food & beverage and agriculture, petrochemical and oil & gas, chemicals, environment testing, forensics, and other industries. In 2023, the life sciences segment accounted for a significant share of the Laboratory Information Management Systems (LIMS) market.
The life sciences segment holds a prominent position in the laboratory information systems market, driven primarily by the rising trend of pharmaceutical companies outsourcing diverse processes, the heightened stringency of regulations, a growing number of biobanks and biorepositories, and increased research and development investments and activities within the pharmaceutical and biotechnology sectors.
Asia to witness the substantial growth rate during the forecast period
The Asia Pacific LIMS market is expected to grow at the highest CAGR in the forecasted period among the five major regions considered in the scope- North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Rapid industrialization and the expansion of pharmaceutical and biotechnology industries are creating a substantial demand for efficient laboratory management solutions. Government initiatives and policies further support this trend in the region.
Additionally, the improvement in interoperability standards that facilitates the integration and implementation of LIMS, coupled with the growth in medical tourism and the development of supporting infrastructure in research laboratories, enables organizations in the region to harness the full potential of LIMS. This, in turn, enhances operational efficiency, data accuracy, and patient care. The growing focus on improving laboratory productivity and data integrity, combined with advancements in technology such as cloud computing and automation, further accelerates the adoption of LIMS in this region.
List of Companies Profiled in the Report
- LabWare (US)
- LabVantage Solutions Inc. (US)
- Thermo Fisher Scientific Inc. (US)
- Agilent Technologies (US)
- LabLynx, Inc. (US)
- Dassault Systemes (France)
- Labworks LLC (US)
- Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US)
- Accelerated Technology Laboratories (ATL) (US)
- CloudLIMS (US)
- Computing Solutions, Inc. (US)
- GenoLogics Inc. (an Illumina Company) (Canada)
- Siemens (Germany)
- Novatek International (Canada)
- Ovation (US), Clinsys (US)
- Eusoft Ltd. (Italy)
- Caliber International (US)
- LABTrack (US)
- Agilab SAS (US)
- Agaram Technologies (India)
- AssayNet Inc. (Canada)
- Blaze Systems Corporation (US).
Research Coverage
The report analyzes the Laboratory Information Management Systems (LIMS) market and aims to estimate the market size and future growth potential of various market segments, based on type, component, company size, deployment model, and industry, and region. The report also analyses factors (such as drivers, opportunities and challenges) affecting market growth. It evaluates the opportunities and challenges in the market for stakeholders. The report also studies micro markets with respect to their growth trends, prospects, and contributions to the total Laboratory Information Management Systems (LIMS) market. The report forecasts the revenue of the market segments with respect to five major regions. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 411 |
| Forecast Period | 2024-2029 |
| Estimated Market Value (USD) in 2024 | $2.1 Billion |
| Forecasted Market Value (USD) by 2029 | $3.8 Billion |
| Compound Annual Growth Rate | 12.9% |
| Regions Covered | Global |
Premium Insights
- Growing Focus on Automation and Need to Comply with Regulatory Requirements to Drive Demand
- North America to Dominate Market During Forecast Period
- India to Register Highest Revenue Growth from 2024 to 2029
- Life Science Industry and US Dominated Market in North America in 2023
- Broad-based LIMS Segment to Hold Larger Market Share in 2029
- Services Segment to Dominate Market in 2029
- On-Premise Deployment Mode to Dominate Market in 2029
- Large Companies to Dominate Market in 2029
- Life Sciences to Account for Largest Market Share in 2029
Market Dynamics
- Drivers
- Growing Use of LIMS to Comply with Stringent Regulatory Requirements
- Growing Requirement for Customizable Solutions
- Increasing Adoption of Cloud-based and Integrated LIMS
- Growing R&D Expenditure in Pharmaceutical and Biotechnology Companies
- Demand for Real-Time Data Access in Food & Beverage Industry
- Restraints
- High Maintenance and Service Costs
- Lack of Integration Standards for LIMS
- Interoperability Challenges
- Limited Adoption of LIMS in Small and Medium-Sized Companies
- Opportunities
- Growing Use of LIMS in Cannabis Industry
- Significant Growth Potential in Emerging Economies
- Challenges
- Dearth of Trained Professionals
- Interfacing Challenges with Informatics Software
Industry Trends
- Cloud-based Solutions
- Advanced Data Management Systems
- Mobile Applications
- Augmented Reality & Mixed Reality
- Advanced Analytics and AI
- Future of Laboratories
Technology Analysis
- Key Technologies
- Artificial Intelligence and Machine Learning
- Cloud Computing
- Complimentary Technologies
- Internet of Things
- Data Analytics
- Adjacent Technologies
- Blockchain
Patent Analysis
- Patent Publication Trends
- Jurisdiction Analysis: Top Applicant Countries for Laboratory Information Management Systems
- Major Patents
Case Study Analysis
- Case Study 1: STARLIMS Offers Support for Better Data Management and Aggregation
- Case Study 2: Need for Secure In-House Solutions for Forensic Toxicology
- Case Study 3: CLOUDLIMS to Drive Efficiency in Birka Biostorage Operations
For more information about this report visit https://www.researchandmarkets.com/r/o1jkmt
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