Laboratory Information Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Laboratory Information Management System Market Overview
Laboratory information management systems (LIMS) have evolved continuously on the back of evolving and changing needs of lab infrastructures for clinical and research ends. The information system (IS) used for management of lab workflows usually automates the testing process across the entire continuum. The continuum spreads across pre-analytical, analytical, and post-analytical processes. The benefits are many: speeding up the overall process of results generation, increasing the accuracy, engaging lab workers, and meeting the customization needs of users.
Some of the key end-use applications of LIMS are in life sciences industry, food and beverages testing, CROs, petrochemical refineries, chemical, and forensics.
The study on the LIMS market has shed light on the growth dynamics, identifies key segments, estimates shares and size of various segments using best data science tools, and evaluates new consumer trends.
Laboratory Information Management System Market Key Trends
The drive for LIMS market stems from the growing trend of lab automation all over the world. The trend is accelerated by numerous propositions. The need for speedy and accurate results is crucial in disease diagnosis and staging, prognosis, and in ensuring good population health. Another equally robust reason attributing the need for LIMS in automating is reducing the workload and lead time in attaining the results. Another key factor may be the risks of biohazards of the testing samples.
The role of LIMS in real-time decisions is a key trend boosting the prospects in the LIMS market. Over the years, LIMS has proved to be beneficial in environment monitoring and quality assurance.
Laboratory Information Management System Market: Competitive Dynamics and Key Developments
A growing number of players are keen on bringing multiple levels on technologies. Flexible interfaces and configurable features are key focus areas to unlock a consistent consumer values. Over the years, the array of LIMS that can be easily integrated with lab workflows is a key trend shaping the competitive landscape in the market. Advances made in genomics has brought big data relevant in the life sciences industry, opening new avenues for new entrants to compete incumbent players. LIMS helps in centralizing all such data to ensure easy access and subsequent analysis. The need for analyzing downstream data analysis and the adoption of new reagents and equipment by contract research organizations are expected to pave way to new avenues for players to consolidate their shares.
Some of the key players in the LIMS market are;
Laboratory Information Management System Market: Regional Assessment
On the global front, North America has contributed a sizable share in the past few years. Widespread integration of EHR by healthcare providers and strides made by software in data management are key trends that have propelled the rapid growth of the regional market. Asia Pacific is expected to be a highly promising region. The growth of revenues is fueled by rise in investments in contract research organizations to meet the demands of end-use industries. The proliferation of demand in telehealth and ehealth services in some emerging economies of Asia is a key trend. Outsourcing of LIMS services in India and China has surged over the past few years, and the trend has added a fillip to the expansion of the market.
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