Lab Information Management Systems Market to Reach USD 4.15 Billion, Globally, by 2031 at 10.9% CAGR: Allied Market Research
PORTLAND, Ore., Feb. 23, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Lab Information Management Systems Market by Product Type (Broad- Based/Multipurpose LIMS, Industry Specific LIMS), by Component (Software, Services), by Delivery Mode (Web-Based and Cloud-Based, On-Premises), by Industry Type (Life Science, Chemical and Energy Industries, Food and Beverage and Agriculture Industries, Clinical Research Organization (CRO)/Contract Manufacturing Organizations (CMO), Others): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global lab information management systems industry was estimated at $1.47 billion in 2021, and is anticipated to hit $4.15 billion by 2031, registering a CAGR of 10.9% from 2022 to 2031.
- Rise in research & development activities associated with drug discoveries has resulted in a steep surge in the adoption of lab information management solutions across the world, which in turn drives the global lab information management systems market.
- Rise in research & development activities associated with drug discoveries has resulted in a steep surge in the adoption of lab information management solutions across the world, which in turn drives the global lab information management systems market.
- Impact of Covid-19 on Lab Information Management Systems Market:
The outbreak of the pandemic gave way to a significant surge in demand for lab information management systems in clinical laboratories for Covid-19 testing across the world, which impacted the market positively. - By region, North America held the major share in 2021, accounting for around two-fifths of the global lab information management systems market revenue.