Global Laboratory Information Management System Market (2020 to 2025) - Use of LIMs in the Cannabis Industry Presents Opportunities

DUBLIN, July 3, 2020 /PRNewswire/ -- The "Laboratory Information Management System (LIMS) Market by Type (Broad, Industry-specific), Component (Software, Services), Delivery (On premise, Remote, Cloud), End User (CRO, Pharma, Biotech, Chemical, Agriculture, FnB, Oil, Gas) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global laboratory information management systems market is projected to reach USD 1,699.3 million by 2025 from an estimated USD 959.9 million in 2020, at a CAGR of 12.1% during the forecast period.

The increasing adoption of LIMS to comply with stringent regulatory requirements, technological advancements in LIMS offerings, increasing R&D expenditure in pharmaceutical and biotechnology companies, and the growing adoption of cloud-based LIMS are some of the factors driving the growth of this market. However, the high maintenance and service costs and the lack of integration standards for LIMS are expected to restrain the growth of this market.

Services segment to grow at the highest CAGR during the forecast period

Based on component, the LIMS market is segmented into services and software. 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 upgradation, and software maintenance post-installation.

Pharmaceutical and biotechnology companies segment to dominate the LIMS market for the life sciences industry

Based on type, the LIMS market for the life sciences industry is segmented into pharmaceutical and biotechnology companies, biobanks and biorepositories, CROs & CMOs, clinical research laboratories, academic research institutes, toxicology laboratories, NGS laboratories, and forensic laboratories. The pharmaceutical and biotechnology companies segment accounted for the largest share of this market in 2019. The large share of this segment can be attributed to the increasing adoption of LIMS systems in pharmaceutical and biotechnology companies to automate laboratory workflows and improve operational efficiency.

The market in Asia to witness the highest growth during the forecast period

In 2019, North America accounted for the largest share of the global LIMS market, followed by Europe. However, the Asian market is estimated to grow at the highest CAGR during the forecast period primarily due to factors such as increasing outsourcing activities in several Asian countries due to the availability of low-cost and skilled labor and the increasing awareness and availability of LIMS.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Laboratory Information Management Systems Market Overview
4.2 Laboratory Information Management Systems Market, by Type, 2020-2025
4.3 Laboratory Information Management Systems Market Share, by Industry & Region (2019)
4.4 Geographical Snapshot of the Laboratory Information Management Systems 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
5.2.4 Challenges
5.2.4.1 Dearth of Trained Professionals
5.3 Impact of Covid-19 on LIMs Market

6 Laboratory Information Management Systems Market, by Type
6.1 Introduction
6.2 Broad-Based LIMs
6.2.1 Faster Roi, Reduced Total Cost of Ownership, & Flexibility to Integrate Seamlessly With Other Lab Systems Are the Key Factors Supporting the Growth of the Broad-Based LIMs Market
6.3 Industry-Specific LIMs
6.3.1 Need for Laboratories to Implement In-House Customized LIMs Solutions to Cater to Specific Industry Requirements to Support Market Growth

7 Laboratory Information Management Systems Market, by Component
7.1 Introduction
7.2 LIMs Services
7.2.1 Increasing Adoption of Cloud-Based LIMs and Need of Software Upgradation and Maintenance Post-Installation to Drive Market Growth
7.3 LIMs Software
7.3.1 Rising Need to Integrate Existing Analytical Instruments & Shifting Trend Towards Laboratory Automation Are Key Factors Supporting Market Growth

8 Laboratory Information Management Systems Market, by Deployment Model
8.1 Introduction
8.2 On-Premise LIMs
8.2.1 On-Premise LIMs Accounted for the Largest Market Share
8.3 Cloud-Based LIMs
8.3.1 Cloud-Based LIMs to Witness Wide Adoption in the Coming Years
8.4 Remotely Hosted LIMs
8.4.1 Low Total Cost of Ownership and Good Return on Investment to Drive Market Growth

9 Laboratory Information Management Systems Market, by Industry
9.1 Introduction
9.2 Life Sciences Industry
9.2.1 Pharmaceutical and Biotechnology Companies
9.2.1.1 Pharma and Biotech Companies Are Adopting LIMs to Automate Laboratory Workflow and Improve Efficiency
9.2.2 Contract Service Organizations
9.2.2.1 Increasing Outsourcing of Research Activities to Drive Market Growth
9.2.3 Biobanks & Biorepositories
9.2.3.1 Demand for High-Quality Specimens Has Boosted the Adoption of LIMs in Biobanks & Biorepositories
9.2.4 Clinical Research Laboratories
9.2.4.1 Use of LIMs in Clinical Research Helps Accelerate Processes, Improve Quality, and Enhance Productivity
9.2.5 Academic Research Institutes
9.2.5.1 Advances in Cancer, Genomics, and Proteomics Research to Support Market Growth
9.2.6 Next-Generation Sequencing Laboratories
9.2.6.1 LIMs Helps in Overcoming Challenges Faced by Ngs Labs
9.2.7 Toxicology Laboratories
9.2.7.1 Toxicology Laboratories Are Widely Adopting Cloud-Based LIMs
9.3 Food & Beverage and Agriculture Industries
9.3.1 LIMs Plays a Major Role in Production Processes to Avoid Food Contamination
9.4 Petrochemical Refineries and the Oil & Gas Industry
9.4.1 Integration of Operations is a Key Function of LIMs in this Industry
9.5 Chemical Industry
9.5.1 Role of LIMs in Supporting the Dynamic Production Processes in Chemical Industry to Support Market Growth
9.6 Environmental Testing
9.6.1 Increasing Stringency of Environmental Regulations to Support Market Growth
9.7 Other Industries

10 Laboratory Information Management Systems Market, by Region
10.1 Introduction
10.2 North America
10.2.1 US
10.2.1.1 Strong Economy and Increased R&D Expenditure to Drive the Demand for LIMs in the US
10.2.2 Canada
10.2.2.1 Rising Awareness of Lab Automation to Drive Market Growth In Canada 103
10.3 Europe
10.3.1 Germany
10.3.1.1 Germany to Dominate the Market in Europe
10.3.2 UK
10.3.2.1 Increased Focus on Life Sciences Research and Rise in Oil Production to Drive the Adoption of LIMs in the UK
10.3.3 France
10.3.3.1 Strong Focus on the Adoption of Advanced Technologies to Support Market Growth in France
10.3.4 Italy
10.3.4.1 High Pressure on Research Labs Due to the Covid-19 Outbreak Has Necessitated the Adoption of LIMs in Italy
10.3.5 Spain
10.3.5.1 Increase in Food & Beverage Production Has Driven the Adoption of LIMs in Spain
10.3.6 Rest of Europe
10.4 Asia
10.4.1 Japan
10.4.1.1 Government Support for the Adoption of Advanced Technologies to Drive Market Growth in Japan
10.4.2 China
10.4.2.1 Growth of Life Sciences Industry in China Has Driven the Adoption of LIMs
10.4.3 India
10.4.3.1 Growth of the Indian Pharmaceutical Industry to Drive the Demand for LIMs
10.4.4 Rest of Asia
10.5 Rest of the World

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis, 2019
11.3 Competitive Scenario
11.3.1 Partnerships
11.3.2 Product Launches
11.3.3 Expansions
11.3.4 Acquisitions
11.4 Competitive Leadership Mapping (2019)
11.4.1 Vendor Inclusion Criteria
11.4.2 Visionary Leaders
11.4.3 Innovators
11.4.4 Dynamic Differentiators
11.4.5 Emerging Companies

12 Company Profiles
12.1 Labware
12.2 Labvantage
12.3 Thermo Fisher Scientific
12.4 Abbott Informatics (A Subsidiary of Abbott Laboratories)
12.5 Agilent Technologies, Inc.
12.6 Lablynx, Inc.
12.7 Autoscribe Informatics (A Wholly Owned Subsidiary of Autoscribe Limited)
12.8 Computing Solutions, Inc.
12.9 Genologics, Inc. (An Illumina Company)
12.10 Labworks LLC
12.11 Dassault Systmes
12.12 Siemens
12.13 Accelerated Technology Laboratories
12.14 Cloudlims
12.15 Novatek International
12.16 Ovation
12.17 Apollolims
12.18 Promium
12.19 Horizon LIMs (A Part of Redarrow Labs)
12.20 Eusoft S.R.L

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