Product Code: RP-ID-10151838 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Healthcare & Pharmaceuticals |
Report ID: 10151838
Market Overview:
Global Laboratory Information System Industry Market Research 2030
" In 2020, the global laboratory information management system market is worth 1.1 billion U.S. dollars, and it is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. 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, the demand for laboratory testing 24 hours a day, 7 days a week, experienced an unprecedented high-volume surge in clinical laboratories, putting tremendous pressure on laboratory personnel and their infrastructure. 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 41.0%. Data can be accessed from multiple locations, multiple systems, and multiple branches. These are key factors due to its popularity 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.
Compared with other LIMS services, the on-premises segment is expected to grow because it is more personalized and reliable, so it is expected to become more and more popular in the next few years. The revenue share in 2020 is 57.9%. This is due to the growing demand for LIMS implementation, integration, maintenance, verification and support. In addition, the growing demand for LIMS outsourcing solutions is also expected to drive the development of this market 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. Information management systems account for 40.6% of the highest revenue share in 2020. This is due to the adoption of LIMS in more and more pharmaceutical laboratories.
Lack of qualified internal resources, increased productivity, profitability, and growing demand for biobanks and biobanks are also expected to drive growth in this area. Due to the increasing demand for outsourcing by pharmaceutical and biotech companies, the Contract Research Organization (CRO) department is expected to see lucrative growth in the laboratory information management system market. Related benefits, such as profitability, focus on core competencies, and mutual benefit between contractors and customers, are other drivers of this market segment.
Regional outlook:
North America dominates the laboratory information management system market and will account for the largest revenue share in 2020 at 46%. As supportive policies promote the adoption of laboratory automation (such as the HCE program), they dominate. 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 System for exchanging data in China.
Key company and market share insights:
Market leaders engage in acquisitions, strategic partnerships, and new product launches to resist competition. 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 program 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:
This report predicts global, regional and national revenue growth, and analyzes the latest industry trends in each sub-segment from 2016 to 2028. For the purpose of this research, Grand View Research will report on the global laboratory information management system market based on products, components, end-uses and regions: Product Outlook (Revenue, USD million, 2016-2028).
Internal deployment of web-based cloud components Outlook (Revenue, USD million, 2016-2028), 2016-2028) End-use Outlook of Software Services (Revenue, USD million, 2016-2028) Life Sciences CRC 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))"
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