Laboratory Information Management System (LIMS) Market Share, Top Vendors, Industry Trends, Growth, Technology Forecast to 2028

Laboratory Information Management System (LIMS) Market Analysis, Growth Factors and Dynamic Demand by 2028

Market Overview | Laboratory Information System Market

The Laboratory Information System (LIS) Market witnessed significant growth in the past few years due to its widespread incorporation amongst laboratories to tackle operational workflow issues associated with regulatory compliance and data security.

In addition, the introduction of technologically advanced software solutions that facilitate clinical laboratory workflow management is anticipated to drive demand over the forecast period. For instance, many laboratories incorporate Enterprise Content Management (ECM) software to streamline the processing of sample data delivered to public health organizations.

The market is anticipated to witness growth due to the rising demand for scientific data integration solutions amongst the end-use industries including life sciences, contract research organizations, food & beverage, and chemicals. An increasing need for clinical workflow management in laboratories to improve operational efficiency is expected to propel the growth in the coming years.

Furthermore, rising adoption of Laboratory Information Systems (LIS) amongst independent and hospital-based labs to reduce the incidence of diagnostic errors and manage high data volumes is likely to boost the growth of the lab informatics market over the forecast period.In April 2017, Abbott Informatics launched upgraded version of STARLIMS laboratory information management system 11.4 in a probe to gain more market share.

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Segment Overview | Laboratory Information System Market

Key components analyzed in the laboratory information systems vertical are software and services. The services segment held the dominant share in 2015 and is expected to exhibit a sturdy growth rate in the future. On the other hand, the software segment is anticipated to exhibit growth owing to the introduction of technologically advanced software solutions, such as SaaS, which has revolutionized LIS.

The life sciences industry was the largest end-use segment and accounted for a share in 2018. Increasing advances in the healthcare industry due to rising R&D activities in the field of medical research is anticipated to fuel the demand for laboratory information systems in the coming years.

Increasing incorporation of LIS, particularly in research & hospital labs, because of its growing application scope, including patient engagement, patient health information tracking, workflow management, billing, and quality assurance at hospitals, labs, and other life science companies, is expected to propel the laboratory informatics market growth. The CRO segment is anticipated to grow lucratively over the forecast period due to the increasing outsourcing trend in the pharmaceutical & biotech industries

Regional Overview | Laboratory Information System Market

Geographically, the market has been segmented into four major economies including North America, Europe, Asia-Pacific, and LAMEA. North America consists of US, Canada, and the Rest of North America. Europe comprises of the major countries including the UK, Germany, France, Italy, Spain and the Rest of Europe. Similarly, Asia Pacific consists of major countries such as, Japan, China, India, South Korea, Australia and, the Rest of Asia Pacific. LAMEA consists of Brazil, Saudi Arabia, UAE, and the Rest of LAMEA.

North America region accounted for the major market share in 2018. The presence of established pharmaceutical companies and research labs coupled with higher awareness levels of LIS amongst the end-users is expected to drive the demand. Furthermore, increasing R&D activities in the biotech &pharmaceutical industry and the existence of stringent regulatory compliance requirements is expected to fuel the growth of this vertical during the forecast period.

Asia pacific is emerging as an outsourcing hub for the laboratory informatics market due to its surging demand amongst the pharmaceutical manufacturers. Manufacturers outsource LIS activities to improve operational efficiency and reduce the cost of LIS support systems. The presence of numerous CROs in the fast-growing economies, such as Iran & China, is anticipated to boost the demand.

Competitor Overview | Laboratory Information System Market

Some of the key market participants include LabWare, Thermo Fisher Scientific, Inc., Core Informatics, LabVantage Solutions, Inc., PerkinElmer Inc., LabLynx, Inc., Abbott Laboratories, Agilent Technologies, IDBS, Waters, McKesson Corporation, and Cerner Corporation. Technologically advanced platforms offered by the industry players, such as SaaS for smaller organizations, are anticipated to boost the adoption of LIS. In March 2017, Thermo Fisher Scientific acquired Core Informatics in an attempt to significantly enhance Thermo Fisher’s existing informatics solutions

Key Players | Laboratory Information System Market

  1. Thermo Fisher Scientific, Inc
  2. Epic
  3. Sunquest
  4. LabWare
  5. Core Informatics
  6. Abbott Laboratories
  7. LabVantage Solutions Inc.
  8. LabLynx, Inc
  9. PerkinElmer, Inc.
  10. Waters
  11. Agilent Technologies

Market Segmentation | Laboratory Information System Market

By Product

  • Laboratory Information Management Systems (LIMS)
  • Electronic Lab Notebooks (ELN)
  • Scientific Data Management Systems
  • Laboratory Execution Systems
  • Electronic Data Capture & Clinical Data Management Systems
  • Chromatography Data Systems
  • Enterprise Content Management

By Component

  • Software
  • Services
  • By Delivery Mode
  • On-premise
  • Web Hosted
  • Cloud Based

By End Use

  • Laboratories
  • Healthcare CROs
  • Pharmaceutical Companies & Related R&D Labs

By Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    • Brazil
    • Saudi Arabia
    • UAE
    • Rest of LAMEA

Table of Content | Laboratory Information System Market

1. Introduction

2. Executive Summary

3. Market Dynamics

4. Key Insights

5. Global Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

6. North America Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

7. Latin America Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

8. Europe Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

9. Asia Pacific Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

10. Middle East & Africa Laboratory Information System Market Analysis (USD Billion), Insights and Forecast, 2018-2029

11. Competitive Analysis

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