Global Laboratory Information System /LIS Market Outlook 2030

"In 2021, the global laboratory information management system market is estimated to be worth USD 1.2 billion, and it is expected to expand at a compound annual growth rate (CAGR) of ~5% from 2022 to 2030. Technological advancements associated with pharmaceutical laboratories and increasing laboratory demand automation are expected to drive the demand for laboratory information management systems (LIMS) in the coming years.
During the COVID-19 pandemic, there has been an unprecedented surge in the demand for 24/7 laboratory testing in clinical laboratories, putting tremendous pressure on the laboratories and their infrastructure staff. When the laboratory has a large number of potentially biohazardous samples every day, these stressful environments are very unwelcome. 

 

In addition, the delay in testing these samples directly leads to delays in clinical decision-making, which leads to congestion in emergency departments and isolation units. It turns out that during the COVID-19 pandemic, it is beneficial to use the LIMS function to simplify all stages (pre-analysis, analysis, and post-analysis). 

 

Advances in R&D laboratories, especially pharmaceutical and biotechnology laboratories, are expected to enable the industry of laboratory information management systems to achieve positive growth. In addition, low implementation costs, efficient time management, GDP, GCP and GMP compliance are the main factors driving the laboratory information management system market.

 

 In addition, major players in the laboratory information management system market also expect technological progress. To promote market growth. For example, in July 2020, LabVantage Solutions released its fully integrated scientific data management system (SDMS) through its LabVantage 8.5 version. These factors are driving the growth of the laboratory information management system market.

 

 PRODUCT INSIGHT: 

Cloud-based market segments dominate the laboratory information management system market, with the largest revenue share in 2020 at 40%. Data can be accessed from multiple locations, multiple systems, multiple branches, these are key factors due to its dominance during the forecast period. 
In addition, reduced IT manpower, cost-effective data management, and ease of deployment are some of the other factors contributing to the growth of this segment. Its adoption rate among customers is high. The local segment is expected to grow because it is more personalized and reliable compared to other LIMS services, so it is expected to become more and more popular over the years.

 

COMPONENT INFORMATION:

The service department dominates the laboratory information management system market and will account for the largest revenue share in 2020, at 55%. This is due to the growing demand for implementation, integration, maintenance, verification, and LIMS support. In addition, the growing demand for LIMS outsourcing solutions is also expected to drive the development of this segment.As the software system develops from SaaS to PaaS, CaaS and more advanced community networks, it is expected that the software department will show steady growth in the laboratory information management system market.

 

 END USE INSIGHTS: 

The life sciences sector dominates the laboratory information management system market and has the highest revenue share in 2020, at 38%. This is due to the increasing adoption of LIMS by laboratory pharmacists. Lack of qualified internal resources, increased productivity, profitability, and growing demand for biobanks and biobanks are also expected to drive growth in this area.

 

REGIONAL OUTLOOK: 

North America dominates the laboratory information management system market and will account for the largest revenue share in 2020, at 45%. The dominance is due to support policies that promote the adoption of laboratory automation laboratories, such as the HCE program. 

 

In addition, the existence of advanced infrastructure, growing demand for genomics research, and increased government funding are other factors contributing to the market growth in this region. In the Asia-Pacific region, the laboratory information management system market is expected to be the fastest. CAGR The number of LIMS that provides CRO in the region is increasing. 

 

Major players outsource LIMS to regional CROs to reduce the cost of the LIMS support system and improve operational efficiency. Developing economies such as India and China have become major outsourcing centers. In April 2020, the Ministry of Health of China formulated an action plan to deploy electronic health-related solutions in geographically dispersed areas of the country, covering a wide range of medical services and insurance plans, with a focus on the use of electronic records to allow access to the entire national health system The system for exchanging data in China.

 
KEY COMPANIES AND MARKET SHARE INSIGHT: 

Market leaders resist competition through acquisitions, strategic partnerships, and new product launches. In March 2021, Autoscribe Informatics released an updated version of its regulated manufacturing LIMS, which is a solution based on the Matrix Gemini LIMS solution configuration. 

 

This product is an ideal choice for all manufacturing organizations, including highly regulated industries such as pharmaceuticals And medical equipment. This move expands the Autoscribe Informatics product portfolio. In addition, in June 2020, Labware announced the launch of Labware 8, its enterprise laboratory platform. Some of the major players in the laboratory information management system (LIMS) market include: Thermo Fisher Scientific SiemensLabVantage Solutions Inc LabWarePerkinElmer Inc. Abbott LaboratoriesAutoscribe InformaticsIllumina, Inc.LabLynx Laboratories, Inc.

 

MARKET SEGMENTS COVERED BY THE REPORT: 

The report forecasts global, regional and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2022-2030. For the purpose of this research, Kenneth Research will report on the global laboratory information management system market based on products, components, end-uses and regions: Product Outlook (Revenue, USD million, 2022-2030) Internal deployment of web-based cloud components Outlook (Revenue, USD million, 2022-2030), 2022-2030) End-use Outlook of Software Services (Revenue, USD million, 2022-2030) Life Sciences CROS Petrochemical Refinery and Oil and Gas Industry Chemical Industry Food Industry, Beverage And other industries in agricultural environmental testing laboratories (forensic, metal and mining laboratories). "
 

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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