Laboratory Information Management System (LIMS) Market, By Product (On-premise, Web-hosted, and Cloud-based), By Component (Software and Services), By End-Use, and By Region Forecast to 2032

The global Laboratory Information Management System (LIMS) market size was USD 2.20 Billion in 2022 and is expected to reach USD 4.75 Billion in 2032, and register a revenue CAGR of 8.0 % during the forecast period.

Key Pointers

• The on-premises segment is expected to account for the largest revenue share during the forecast period.
• The cloud-based segment is expected to account for a significantly large revenue share during the forecast period.
• The software segment is expected to account for the largest revenue share during the forecast period.
• The market in Asia Pacific is expected to register a rapid revenue growth rate during the forecast period.
• The market in Europe is expected to account for a significantly fast revenue share during the forecast period.

Report Scope of the Laboratory Information Management System (LIMS) Market:

Software-based systems used in laboratories for data administration, sample tracking, workflow automation, and other laboratory operations are referred to as Laboratory Information Management Systems (LIMS). The demand for effective laboratory data management systems is rising across numerous industries, including pharmaceuticals, biotechnology, and research, which is the main factor driving market revenue growth.

Due to the growing number of tests and samples being processed in laboratories, one of the major factors driving market revenue growth is the growing requirement for laboratory data management systems. In order to ensure that laboratory procedures are simplified and test results are supplied in a fast and reliable way, there is now a rising demand for effective laboratory data management systems.

The growing significance of data analysis in laboratory research has also raised the demand for laboratory data management systems with advanced analytics capabilities. There is a rising need for laboratory data management systems that can handle massive amounts of data and deliver accurate and insightful analysis as big data analytics and artificial intelligence are being used more and more in laboratory research.

Another factor driving market revenue growth is the growing need for laboratory data management systems with regulatory compliance features. Good Laboratory Practice (GLP), Good Manufacturing Practice (GMP), and ISO standards are just a few of the regulations and guidelines that apply to laboratories, thus there is a rising need for laboratory data management systems that can guarantee compliance with these rules. The market is expected to increase as a result of the growing need for LIMS that are created to adhere to these rules and norms.

The growing use of cloud-based LIMS is another factor driving revenue growth of the market. The adoption of cloud-based LIMS has a number of advantages, including greater data accessibility, increased flexibility, and lower costs. Because of this, an increasing number of labs are implementing cloud-based LIMS, which is expected to further drive market revenue growth.

On the other side, it is expected that constraints including the high cost of adopting LIMS and the shortage of qualified personnel to run these systems will impede market revenue growth. Moreover, difficulties with data security and privacy are expected in the market, which could restrict the use of LIMS in several sectors.

Competitive Landscape:

The global Laboratory Information Management System (LIMS) market is a rapidly growing industry that is primarily driven by the rising demand for laboratory automation and digitalization. The market is highly competitive, with numerous large and medium-sized players accounting for the majority of the market revenue.

Major Companies: Some of the major companies operating in the LIMS market are:

• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• LabVantage Solutions, Inc.
• Agilent Technologies, Inc.
• Promium, LLC
• PerkinElmer, Inc.
• Bruker Corporation
• Waters Corporation
• Autoscribe Informatics Inc.
• AbbVie Inc.
• LabWare, Inc.

Laboratory Information Management System (LIMS) Market Segmentations: