Laboratory Information Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

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Laboratory Information Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030

Status : June, 2021 | Healthcare IT

Report Digest

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;

  • Analytical Automation Specialists Inc.
  • LabLynx, Inc.,
  • Illumina, Inc.
  • PerkinElmer Inc.
  • Thermo Fisher Scientific
  • LabVantage Solutions Inc.

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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?