Global Laboratory Information Management System/LIMS Market 2018-2023 - Focus on CRO, CMO, Toxicology, Pharma, Biotech, Chemical, Agriculture, Oil & Gas Industries
The global laboratory information management system (LIMS) market is expected to reach USD 1,355.0 million by 2023 from USD 747.3 million in 2018, at a CAGR of 12.6%.
DUBLIN, July 18, 2018 /PRNewswire/ --
The "Laboratory Information Management System/LIMS Market by Type, Component (Software, Service), Deployment Model (On-premise, Remote, Cloud), Industry (CRO, CMO, Toxicology, Pharma, Biotech, Chemical, Agriculture, Oil, Gas) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global laboratory information management system (LIMS) market is expected to reach USD 1,355.0 million by 2023 from USD 747.3 million in 2018, at a CAGR of 12.6%.
Growth in this market is driven by the increasing use of LIMS to comply with stringent regulatory requirements, increasing focus on improving the efficiency of laboratories, technological advancements in LIMS offerings, increasing R&D expenditure in pharmaceutical and biotechnology companies, and growing adoption of cloud-based LIMS.
This report segments the LIMS market into type, component, deployment model, industry, and region. Based on type, the market is segmented into broad-based LIMS and industry-specific LIMS. The broad-based LIMS segment accounted for the largest market share in 2018. These solutions provide users with significant room for customization and interpretation that can support multiple businesses across different geographic locations; these factors are driving the adoption of broad-based LIMS. Furthermore, broad-based solutions also help streamline laboratory workflow processes and improve decision-making and reporting. These advantages also expected to drive their uptake in the coming years.
Based on component, the LIMS market is segmented into software and services. The services segment is expected to register the highest CAGR during the forecast period. The large share of the services segment can be attributed to the recurring requirement of services such as training, software upgrading, and software maintenance post-installation.
By delivery model, the market is segmented into on-premise, cloud-based, and remotely hosted. The cloud-based segment is expected to register the highest CAGR during the forecast period. Factors such as on-demand self-serving analytics, ease of use, affordability, reliability, no upfront capital investment for hardware, adaptability & flexibility, and a pay-as-you-go pricing model have ensured the high growth of cloud-based LIMS.
Based on industry, the laboratory information management system market is segmented into life sciences, chemical, food & beverage and agriculture, environmental testing laboratories, petrochemical refineries and oil & gas, and other industries. The life sciences segment is expected to account for the largest share of the market in 2018. The large share of this segment can be attributed to the rise in outsourcing by pharmaceutical companies, increasing number of biobanks/biorepositories, and the growing R&D investments/activities in pharmaceutical and biotechnology companies.
In 2018 North America accounted for the largest market share followed by Europe. Strong economies of the US and Canada that allows a significant investment in new technologies, growth in biobanks, easy availability of LIMS products and services, and stringent regulatory requirements across industries are the key factors driving the growth of the LIMS market in North America.
However, the high maintenance and service costs and the lack of integration standards for LIMS are expected to restrain the growth of this market during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Laboratory Information Management System: Market Overview
4.2 Market, By Type, 2018-2023
4.3 LIMS Market, By Component, 2018 vs 2023 (USD Million)
4.4 Market, By Deployment Model, 2018 vs 2023 (USD Million)
4.5 Geographic Analysis: Market, By Industry (2018)
4.6 Geographical Snapshot of the LIMS Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Use of LIMS to Comply With Stringent Regulatory Requirements
5.2.1.2 Increasing Focus on Improving the Efficiency of Laboratories
5.2.1.3 Technological Advancements in LIMS Offerings
5.2.1.4 Growing Adoption of Cloud-Based LIMS
5.2.1.5 Growing R&D Expenditure in Pharmaceutical and Biotechnology Companies
5.2.2 Restraints
5.2.2.1 High Maintenance and Service Costs
5.2.2.2 Lack of Integration Standards for LIMS
5.2.3 Opportunities
5.2.3.1 Use of LIMS in the Cannabis Industry
5.2.3.2 Significant Growth Potential in Emerging Markets
5.2.4 Challenges
5.2.4.1 Dearth of Trained Professionals
6 Laboratory Information Management System Market, By Type
6.1 Introduction
6.2 Broad-Based LIMS
6.3 Industry-Specific LIMS
7 Laboratory Information Management System Market, By Component
7.1 Introduction
7.2 Services
7.3 Software
8 Laboratory Information Management System Market, By Deployment Model
8.1 Introduction
8.2 On-Premise LIMS
8.3 Cloud-Based LIMS
8.4 Remotely Hosted LIMS
9 LIMS Market, By Industry
9.1 Introduction
9.2 Life Sciences Industry
9.2.1 Pharmaceutical and Biotechnology Companies
9.2.2 Contract Service Organizations
9.2.3 Biobanks & Biorepositories
9.2.4 Molecular Diagnostics & Clinical Research Laboratories
9.2.5 Academic Research Institutes
9.2.6 Ngs Laboratories
9.2.7 Toxicology Laboratories
9.3 Food & Beverage and Agriculture Industries
9.4 Petrochemical Refineries and the Oil & Gas Industry
9.5 Chemical Industry
9.6 Environmental Testing
9.7 Other Industries
10 LIMS Market, By Region
11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis, 2017
11.3 Competitive Scenario
11.3.1 Product Launches and Upgradations (2015-2018)
11.3.2 Expansions (2015-2018)
11.3.3 Partnerships (2015-2018)
11.3.4 Acquisitions (2015-2018)
12 Company Profiles
12.1 Labware
12.2 Thermo Fisher Scientific
12.3 Abbott Informatics (A Subsidiary of Abbott Laboratories)
12.4 Labvantage
12.5 Lablynx
12.6 Autoscribe Informatics (A Wholly Owned Subsidiary of Autoscribe Limited)
12.7 Computing Solutions
12.8 Genologics, Inc. (An Illumina Company)
12.9 Labworks LLC
12.10 Dassault Systmes
12.11 Siemens
12.12 Accelerated Technology Laboratories
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