Laboratory Information Management System Market to hit USD 3.38 billion by 2029| CAGR of 6.79% | Exactitude Consultancy
laboratory information management system market size was valued at USD 1.87 billion in 2020 & projected to reach USD 3.38 billion by 2029, with a CAGR of 6.79%.
LUTON, BEDFORDSHIRE, UNITED KINGDOM, December 14, 2023 /EINPresswire.com/ -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Laboratory Information Management System Market.
Global Laboratory Information Management System market Size, Status, and Forecast for the 2023-2029. In-depth research has been compiled to provide the most up-to-date information on key aspects of the worldwide market. This research report covers major aspects of the Laboratory Information Management System Market including drivers, restraints, historical and current trends, regulatory scenarios, and technological advancements. The information provided under this section covers the financial revenue of all the major competitors with the addition of product benchmarking, key developments, major region expansion status, and SWOT analysis of any 3 to 5 top market players Furthermore, the microeconomic and macroeconomic factor that affects the market growth is also studied in order to invest in the market. The analysis of all such factors provides a better understanding of the market to achieve the greatest return in terms of revenue.
A Laboratory Information Management System (LIMS) Market is a software-based solution designed to streamline and manage laboratory workflows and data. It serves as a central repository for organizing, tracking, and managing information related to laboratory samples, experiments, and associated data. LIMS plays a crucial role in enhancing efficiency, data accuracy, and compliance in laboratory operations.
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Laboratory Information Management System Market Top Key Players:
The global market is fragmented in nature with the presence of various key players such as Allscripts Healthcare Solutions, Inc., Orchard Software Corporation, CompuGroup Medical, Labvantage Solutions, Inc., STARLIMS Corporation, LabWare, PerkinElmer Inc., Abbott Laboratories, LabLynx, Inc., Autoscribe Informatics, CloudLIMS.com, LABTRACK along with medium and small-scale regional players operating in different parts of the world. Major companies in the market compete in terms of application development capability, product launches, and development of new technologies for product formulation.
Industry Developments:
February 24, 2023 – PerkinElmer introduced the EnVision Nexus system, the company’s quickest and most sensitive multimode plate reader to date, developed for demanding high-throughput screening (HTS) applications and to speed up drug development efforts.
February 15, 2023 – Hurdle and CloudLIMS established a strategic agreement, marking the first convergence of a Diagnostic-as-a-Service (DaaS) platform and a Software-as-a-Service (SaaS) LIMS provider.
Regional Share Analysis:
Geographically, the laboratory information management system market is segmented into North America, South America, Europe, APAC and MEA.
North America: includes the US, Canada, Mexico
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA
During the projected period, North America is predicted to have the greatest market share (44%). The growing acceptance of significant investment in new technologies as a result of the strong economies of the United States and Canada, growing bio-banks, easy availability of LIMS products and services, and stringent regulatory requirements across various industries are the major factors driving the market’s substantial growth. Furthermore, the existence of modern infrastructure, as well as increased demand for genetic studies, contributes to the market’s growth. Furthermore, due to the rising number of LIMS given by contract research organizations across the globe, Asia Pacific is predicted to develop at a high CAGR during the projection period.
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Key Market Segments: Laboratory Information Management System Market
Laboratory Information Management System Market by Product, 2020-2029, (USD Billion)
On-premise
Web-hosted
Cloud-based
Laboratory Information Management System Market by Component, 2020-2029, (USD Billion)
Software
Services
Laboratory Information Management System Market by Deployment Type, 2020-2029, (USD Billion)
Cloud-Based Delivery Mode
On-Premises Delivery Mode
Web-Based Delivery Mode
Laboratory Information Management System Market by End Use, 2020-2029, (USD Billion)
Life Sciences
CROs
Petrochemical Refineries & Oil and Gas Industry
Chemical Industry
Food and Beverage & Agriculture Industries
Environmental Testing Laboratories
Other Industries (Forensics and Metal & Mining Laboratories)
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Strategic points covered in the Laboratory Information Management System market catalogue:
Introduction, market driving force product research goals and research scope global Laboratory Information Management System market (2023-2029).
Exclusive Summary – Basic information on the global Laboratory Information Management System market.
The changing impact on market dynamics - global party supplies driving factors, trends, challenges and opportunities; post-COVID analysis.
Introduction global Laboratory Information Management System market factors, after COVID impact analysis, Porter's five force, the supply / value chain, PESTEL analysis, market entropy, patent / trademark analysis.
Show 2017-2023 by type, end user and region/country.
Assess the leading manufacturers of the global Laboratory Information Management System market, including their competitive landscape, peer analysis, BCG matrix and company profile.
Evaluate the market-by-market segments, countries/regions and manufacturers/companies, the revenue share and sales of these companies/companies in these different regions of the main countries/regions (2023-2029).
... To be continued
Global Laboratory Information Management System: Research Methodology
The research methodology adopted by our company is the integration of primary research, secondary research, and expertise reviews. Secondary research is performed by considering the sources such as company annual reports, research papers, and press releases concerning the industry. Other sources involve industry magazines, trade journals, associations; the government authorized information in order to incorporate the most reliable data to showcase the opportunities for the business expansion in Global Laboratory Information Management System.
Frequently Asked Questions Section
What is the expected growth rate of the laboratory information management system market over the next 7 years?
Who are the major players in the laboratory information management system market and what is their market share?
What are the end-user industries driving demand for market and what is their outlook?
What are the opportunities for growth in emerging markets such as Asia-Pacific, Middle East, and Africa?
How is the economic environment affecting the laboratory information management system market, including factors such as interest rates, inflation, and exchange rates?
What is the expected impact of government policies and regulations on laboratory information management system market?
What is the current and forecasted size and growth rate of the global laboratory information management system market?
What are the key drivers of growth in the laboratory information management system market?
Who are the major players in the market and what is their market share?
What are the distribution channels and supply chain dynamics in the laboratory information management system market?
What are the technological advancements and innovations in the laboratory information management system market and their impact on product development and growth?
What are the regulatory considerations and their impact on the market?
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