Lab Information Management Systems Market: Explosive Growth Forecasted, Expected to Hit USD 4.15 Billion by 2031

Outbreak of the pandemic gave way to a significant surge in demand for LIMS in clinical laboratories for Covid-19 testing, which impacted the market positively.

PORTLAND, OREGON, UNITED STATES, September 26, 2023 /EINPresswire.com/ -- A laboratory information management system is also known as a laboratory management system, a software system that enables support laboratory operations that can track workflow and specimens, aggregate data for research or business intelligence purposes, and ensure laboratory operations are compliant with various regulations and standards. LIMS enables labs to produce accurate, reliable, reproducible, and faster data. These systems are widely used in various industries such as life science, chemicals, oil & gas, and other industries.

Allied Market Research published a report, titled, "Lab Information Management Systems Market by Product Type (Broad-Based/Multipurpose LIMS, Industry Specific LIMS), by Component (Software, Services), by Delivery Mode (Web-Based and Cloud-Based, On-Premises), by Industry Type (Life Science, Chemical and Energy Industries, Food and Beverage and Agriculture Industries, Clinical Research Organization (CRO)/Contract Manufacturing Organizations (CMO), Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global 𝐋𝐈𝐌𝐒 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐢𝐳𝐞 𝐖𝐚𝐬 𝐕𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝟏.𝟒𝟕 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟏 𝐀𝐧𝐝 𝐢𝐬 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐭𝐨 𝐆𝐚𝐫𝐧𝐞𝐫 𝐔𝐒𝐃 𝟒.𝟏𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟏, 𝐫𝐞𝐠𝐢𝐬𝐭𝐞𝐫𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟎.𝟗% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟐 𝐭𝐨 𝟐𝟎𝟑𝟏.

𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭?

Rise in research & development activities associated with drug discoveries has resulted in a steep surge in the adoption of lab information management solutions across the world, which in turn drives the global lab information management systems market. On the other hand, high costs associated with the same and lack of skilled professionals in the industry impede the growth to some extent. However, rapid development of healthcare infrastructure along with the government's support to digitalized services in developing countries such as China, India, and others has paved the way for lucrative opportunities in the industry.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/53955

𝐓𝐨𝐩 𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:-

• Agilent Technologies Inc.
• Illumina Inc.
• Siemens AG
• LabLynx, Inc. (LabLynx LIMS) Inc.
• Genetic Technologies, Inc.
• PerkinElmer, Inc. Inc.
• CrelioHealth Inc.
• LabWare Inc.
• Abbott Laboratories Executive
• Thermo Fisher Scientific Inc.

𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:-

By product type, the broad-based/ multipurpose LIMS segment contributed to the major share in 2021, holding around three-fifths of the global lab information management systems market revenue. The same segment would also showcase the fastest CAGR of 11.2% throughout the forecast period. This is attributed to the rise in the adoption of broad-based/ multipurpose LIMS across the world. They can collect and share data securely and instantaneously from anywhere to any device.

By delivery mode, the web-based and cloud-based segment accounted for nearly three-fifths of the global lab information management systems market share in 2021, and is expected to maintain the lion's share by 2031. This is because it provides users with the required access to their data from any location and from any device and enables them to store and share data with other users securely.

By industry type, the life science segment garnered the major share in 2021, contributing to around two-fifths of the global lab information management systems market revenue. The same segment would also display the fastest CAGR of 11.3% during the forecast period. This is due to the increased research and development activities in biopharmaceutical industries worldwide.

By region, North America held the major share in 2021, accounting for around two-fifths of the global lab information management systems market revenue. This is owing to the high adoption rate of technologically advanced lab information management system, rise in healthcare expenditure, and the presence of major key players across the region. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 11.9% from 2022 to 2031. The presence of biotech/pharma laboratories and contract research organizations in this province has increased the demand for laboratory information management systems, which has fueled the market growth.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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