LaboratoryInformation Management System/LIMS Market Size And Forecast
LaboratoryInformation Management System/LIMS Market size was valued at USD 815.6 Millionin 2020 and is projected to reach USD 1330.1 Million by 2028, growing at a CAGR of 6.8% from 2021 to2028.

Technological advancements pertinent to pharmaceuticallaboratories and the rising demand for lab automation are expected to fuel thedemand for these systems. Advancements in R&D labs, especially inpharmaceutical and biotechnological laboratories, are likely to stoke thegrowth of the market during the forecast period. Growing focus on improving theefficiency of laboratories is also poised to help to boost the globallaboratory information management system/LIMS market. The Global LaboratoryInformation Management System/LIMS Market report provides a holistic evaluationof the market. The report offers a comprehensive analysis of key segments,trends, drivers, restraints, competitive landscape, and factors that areplaying a substantial role in the market.

GlobalLaboratory Information Management System/LIMS Market Definition
LaboratoryInformation Management System (LIMS) is a software-based laboratory andinformation management system with features that support a modern laboratory’soperations. Essential specialties include flexible architecture, data trackingsupport, and data exchange interfaces, which support its use in regulatedenvironments. The features and uses of LIMS have evolved from simple sampletracking to an enterprise resource planning tool that manages multiple aspectsof laboratory informatics. LIMS are being increasingly implemented forbiobanking. These systems ensure security, end-user billing, patientdemographics, and security. They also increase data sampling and researchinformation integration, making data access more manageable. LIMS has providesits applications in sample management, data mining, data analysis, andelectronic laboratory network.

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GlobalLaboratory Information Management System/LIMS Market Overview
Thegrowing prevalence of chronic diseases is driving the growth of the globallaboratory information systems market. Moreover, increasing demand forlaboratory automation and the development of integrated LIS is also expected toboost the growth of the market. Moreover, the growing practice of genome andDNA study is boosting the global market. Biotechnology has expanded rapidlythrough both private companies and academic research. The fundamentalapplications of this technology are in medicine (generation of vaccines and antibiotics)and agriculture. Moreover, knowledge of human sequence variation has started tochange the method of medicine. This is set to give in the way for moreapplications for LIMS. Furthermore, cloud computing is gaining popularity amongmid-size and small businesses, enabling many businesses to access applicationsoftware over a high-speed internet connection. These have positivelyanticipated propelling the growth of the global LIMS market.

Thereare certain barriers and obstructions faced that will hinder the overall marketgrowth. The factors such as high maintenance and service costs and lack ofintegration standards for LIMS are limiting the market growth. Also, privacyand security concerns of LIMS and complex integrated systems are the potentialrestraints hampering the overall growth of the global laboratory informationmanagement system market. Nevertheless, the advancements in technologies, Useof LIMS in the cannabis industry, and untapped potential in emerging marketsoffer favorable growth opportunities.

GlobalLaboratory Information Management System/LIMS Market: Segmentation Analysis
TheGlobal Laboratory Information Management System/LIMS Market is segmented basedon Deployment Mode, Industry, and Geography.

LaboratoryInformation Management System/LIMS Market, By Deployment Mode
•On-Premise
• Cloud-Based
• Remotely Hosted

Basedon Deployment Mode, the market is bifurcated into On-Premise, Cloud-Based,Remotely Hosted. The on-premise segment dominates the market share and isestimated to hold the highest CAGR for the forecast period. The factors thatcan be attributed as the governments persist on securing sensitive data relatedto the national security and individual data of the citizens, enterprises areconcerned about the security of their respective organizational data. Suchfactors are expected to stimulate the growth of the on-premise segment in theforthcoming years. Cloud deployment helps organizations in reducing theiroperational costs, as they do not have to invest in any further computingresource. Secondary benefits, such as cost-effectiveness and enhancedefficiency, are also fueling the segment growth.

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LaboratoryInformation Management System/LIMS Market, By Industry
•Life science Industry
• Environmental Testing
• Food & Beverage and Agriculture Industries
• Chemical Industry
• Others

Basedon Industry, the market is bifurcated into Life Science Industry, EnvironmentalTesting, Food & Beverage and Agriculture Industries, Chemical Industry,Others. The life science segment holds the largest market share during theforecast period. The factors that can be attributed to the surging adoption ofLIMS in pharmaceutical laboratories are accelerating the demand for thissegment.

LaboratoryInformation Management System/LIMS Market, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the world

Onthe basis of Geography, the Global Laboratory Information ManagementSystem/LIMS Market is classified into North America, Europe, Asia Pacific, andRest of the world. North America holds the largest market share. The supportivepolicies facilitating laboratory automation adoption such as EHR programs,presence of advanced infrastructure, surging demand for genomic studies, andincreasing government funding, and ongoing projects will boost the market inthe North American region.

KeyPlayers
The“Global Laboratory Information Management System/LIMS Market” study report willprovide a valuable insight with an emphasis on the global market including someof the major players such as ThermoFisher Scientific Inc., Labworks LLC, Abbott Informatics, Labware, Inc., CoreInformatics, LLC, Computing Solutions, Inc., Labvantage Solutions, Inc.

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