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Laboratory Information Management System Market Segmentation by Component; by Product Type; by Delivery; by Industry Type; by Distribution Channel; by Region - Global Market Analysis, Trends, Opportunity and Forecast, 2024-2033

Laboratory Information Management System Market Trends, Growth Opportunity, and Forecast Analysis, 2024-2033

Laboratory Information Management System Market revenue to generate USD 5.2 billion by 2033, according to KDMI analyst’s growth analysis. The market is segmented by Component, by Delivery, by Industry Type and by Distribution Channel.

Laboratory Information Management System Market Overview

A software that enables efficient management of samples and related data is the laboratory information management system market. Lab work is automated with the use of LIMS. Further, the system integrates tools and administers samples & associated data. The laboratory information management system market is growing due to technological advancements that promote healthcare diagnostics. Healthcare advancements provide patients access to advanced tailored facilities, resulting in their well-being. As per the National Library of Medicine, the progress of information technology has led to considerable enhancements in healthcare services, specifically in remote health regulation. One of the main purposes of using physical sensor connections is to concentrate on disease deterrence and fast recognition of high-threat disease disabilities. As per the report- Government Response Life Sciences Industrial Strategy- the UK government has decided to increase R&D investment in the healthcare sector to 2.4% of the total GDP by 2027. Thermo Fisher Scientific Inc., Perkin Elmer US, Autoscribe Informatics, Novatek Internationals, Benchling and Agaram Technologies are some of the significant parties in the market for Laboratory Information Management System Market.

The Global Laboratory Information Management System Market was valued at USD 2.3 billion in 2023. The market is expected to expand at a CAGR of 13% from 2024-2033, and is expected to cross value of USD 5.2 billion by the end of 2033.

Japan Laboratory Information Management System Market Overview

The laboratory information management system market in Japan is flourishing because of the heavy workload on laboratories. The only way to manage the heavy workload on laboratories is by streamlining the procedures. The monotonous tasks are to be automated or simplified without adjusting the outcome quality. Automation like batch processing for similar tests saves time and effort. Further, automation can even help standardize procedures to ensure steadiness. Chugai Pharmaceutical announced the progress of drug discovery research depending on laboratory automation and AI drug exploration on July 18, 2023. It has initiated a demonstration experiment of lab automation in alliance with Omron and Omron Scinexx in the 4th quarter of 2022-23. Another significant market driver of the laboratory information management system market in Japan is the presence of biotechnology research laboratories. On September 15, 2017, the Department of Biotechnology announced its alliance with the National Institute of Advanced Industrial Science & Technology to come up with an international laboratory, namely DAILAB. Such international biotechnological alliances pave the way for the growth of the Laboratory Information Management System Market in Japan. AmpleLogic, Labware, Wakamoto Pharmaceutical Co., Ltd and Yokogawa are some of the significant parties in the market for laboratory information management system in Japan.

Laboratory Information Management System Market Drivers – Analyst’s Observation

According to the analysts, some key growth drivers for the Laboratory Information Management System Market are as follows:

  • Rising demand for scientific data integration solution: A major driver of the laboratory information management system is the increasing demand for scientific ways of information management. Laboratories produce huge volumes of information from varied origins. There arises the requirement to combine, administer and evaluate such data flawlessly. LIMS offers a centralized podium to address data management requirements. LIMS ensures accurate and flawless data access while adhering to necessary compliances. The rise in data breaches has given rise to the need for a robust data management system. In the financial year 2022-2023, as per the NCSC report, around 316 cybersecurity cases were registered. Cyber-attacks are negative impacts of generative technology. The need for a secured data management system, like that of LIMS, is essential to secure the patient's data safely. Apart from safe data management, LIMS ensures proper utilization of data storage. Scientific data integration solution paves the way for high-degree, dependable, stable information from clinical data. 
  • Immense popularity of Biobanks: A huge assortment of medical or biological information and tissue samples are known as biobanks. Precisely, it is a research library for medical research. Biobanks' data saves the time and resources required to recruit for each research work. As per the data from the National Library of Medicine, in the last decade, the biobanking field has grown fast along with the arrival of precision medicine. As per data from Insights into Public Acceptance of Government Use of Data, regions such as Denmark, New York, the European Union and Israel have launched vaccine passports that allow permission for varied activities. 74% of people in Canada favoured the application of a vaccine passport to visit a senior facility. This covered 72% of travelling by airplane and 71% of international flying. Post COVID, the advantage of biobank has been recognized, and its role in disease outbreak management is considered significant. The popularity of biobanks has increased to a considerable extent because of the frequent occurrence of deadly diseases worldwide, leading to market expansion.

Laboratory Information Management System Market: Report Scope

Base Year Market Size

     2023

Forecast Year Market Size

     2024-2033

CAGR Value

    13%

Market Segmentation

  • By Component
  • By Product-Type
  • By Delivery
  • By Industry Type
  • By Distribution Channel
  • By Region

Challenges

  • High maintenance cost for small laboratories
  • Complicated integrated system

Growth Drivers

Rising demand for scientific data integration solution

Immense popularity of Biobanks

Economic growth 


Which Probable Factors Could Hamper the Laboratory Information Management System Market Trend?

As per our analysis, some of the challenges expected to limit the global market growth of laboratory information management system are as follows:

  • High maintenance cost for small laboratories: The establishment of LIMS and its maintenance needs heavy financial investments. The hardware substructure, software licenses and continuous technical assistance require heavy financial involvement. Further, constant updates, customization and workforce training lead to high maintenance expenditure. High initial and maintenance costs may discourage small laboratories with restricted budgets from using LIMS. Owing to this, the laboratory information management system market may witness slow growth.
  • Complicated Integrated System: Integrating LIMS into the system often includes fitting into the existing laboratory sub-structure, resulting in customized and complicated outcomes. The level of complexity can lead to issues in the course of positioning, needing widespread resources and time for unified integration. The requirement for highly professional expertise in information technology and laboratory procedures is a hindrance to the adoption of LIMS, hindering the market expansion.

How is the laboratory information management system MarketSegmented?

Our experts have segmented the Laboratory Information Management System Market according to the points mentioned below:

  • By Component:
    • Software
    • Services
    • Others
  • By Product-Type:
    • Broad-Based
    • Industry Specific
    • Others
  •  By Delivery:
    • On-Premise
    • Cloud-Based
    • Remotely-Hosted 
    • Others
  • By Industry-Type
    • Life Sciences Industry
    • Chemical/Energy
    • Food & Beverage
    • Agriculture
    • Industries
    • Diagnostic/Medical Device
    • Clinical Research Organization/Contract Manufacturing Organizations
    • Others
  • By Distribution-Channel
    • Direct Tenders
    • Retail Stores
    • Others
  • By Region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

Timeline considered for all these studies will be:

2023 – Base Year

2024 – Estimated Year

2024-2033 – Forecast Period

What are the Probable Factors Influencing the North America Having the Highest Market Share Laboratory Information Management System Market Forecast?

The North America region is the largest user of laboratory information management systems due to the favourable policies that encourage adoption. Particular programs like that of EHR are the reason for the dominance of North America in the Laboratory Information Management System Market. The National Center for Health Statistics in the financial year was valued at USD 210 million. The funding was used for EHR programs. This implies that data is assembled depending on prevailing electronic health records. It offers a considerable resource for properly comprehending the care provided by the US healthcare system at the local, regional, and state levels. Around USD 23 million is invested in programs in North America. Investment in United States Healthcare has increased significantly due to the decline in the birth rate of the country from 2022 to 2023. In 2023, 3,596,017 births were recorded in the United States, which is 2% less than in 2022. The fertility rate of the country decreased by 3% in 2023 from 2022.

What are the Probable Factors Influencing the Asia Pacific Laboratory Information Management System Market Forecast?

The Asia Pacific market for laboratory information management systems is forecasted to grow in the future due to increased digitalization in the region. The popularity of digitalization has accelerated the adoption rate of artificial intelligence and automation in the Asia Pacific region. An increase in lab productivity is the major reason for the application of software programs in the laboratory. The scale of the digital economy has continuously progressed in regions like China in recent years. The value-added production of main industries in the digital economy went to 10% of the entire GDP of China in 2023, as per the statistics from the report on the advancement of Digital China by The National Data Administration. The report indicated that the country went to the target established in the strategy to ease the advancement of the digital era in the 14th 5-year schedule period from 2021-2025. The popularity of digitalization has paved the way for the growth of the Laboratory Information Management Market in the region.

Laboratory Information Management System Market Key Players

Some key players in the Laboratory Information Management System Market are as follows:

  • Thermo Fisher Scientific Inc.,
  • Perkin Elmer US,
  • Autoscribe Informatics,
  • Novatek Internationals,
  • Benchling
  • Agaram Technologies Pvt Ltd
  • Agilent Technologies Inc
  • Labware
  • STARLIMS Corporation
  • IBM
  • Others

  1. Executive Summary
    1. Market Overview
    2. Key Findings
    3. Market Trends
    4. Market Outlook
  2. Introduction
    1. Scope of the Report
    2. Research Methodology
    3. Definitions and Assumptions
    4. Acronyms and Abbreviations
  3. Market Dynamics
    1. Drivers
    2. Restraints
    3. Opportunities
    4. Challenges
  4. Global laboratory Information Management System Market
    1. Market Overview
    2. Market Size and Forecast
    3. Market Segmentation
      1. By Component
      2. By Product-Type
      3. By Delivery
      4. By Industry-Type
      5. By Distribution Channel
      6. By Region
  5. Market Segmentation by Component
    1. Software
    2. Services
    3. Others
  6. Market Segmentation by Product Type
    1. Broad-Based
    2. Industry Specific
    3. Others
  7. Market Segmentation by Delivery
    1. On-Premise,
    2. Cloud-Based,
    3. Remotely-Hosted 
    4. Others
  8. Market Segmentation by Industry Type
    1. Life Sciences Industry
    2. Chemical/Energy
    3. Food & Beverage
    4. Agriculture Industries
    5. Diagnostic/Medical Device
    6. Clinical Research Organization/Contract Manufacturing Organizations
    7. Others
  9. Market Segmentation by Distribution Channel
    1. Direct Tenders
    2. Retail Stores
    3. Others
  10. Regional Analysis
    1. North America
      1. United States
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      2. Canada
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      3. Mexico
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
    2. Europe
      1. United Kingdom
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      2. Germany
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      3. France
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      4. Italy
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      5. Spain
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      6. Rest of Europe
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
    3. Asia Pacific
      1. China
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      2. Japan
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      3. India
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      4. Australia
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      5. South Korea
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      6. Rest of Asia Pacific
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
    4. Latin America
      1. Brazil
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      2. Argentina
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      3. Colombia
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      4. Rest of Latin America
        1. Market Size and Forecast
        2. Key Trends and Developments
        3.               Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
    5. Middle East & Africa
      1. South Africa
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      2. Saudi Arabia
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      3. UAE
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
      4. Rest of Middle East & Africa
        1. Market Size and Forecast
        2. Key Trends and Developments
        3. Market Analysis by Component, Product-type, Delivery, Industry-type, and Distribution Channel
  11. Competitive Landscape
    1. Market Share Analysis
    2. Company Profiles
      1. Thermo Fisher Scientific Inc.
      2. Perkin Elmer US
      3. Autoscribe Informatics
      4. Novatek Internationals
      5. Benchling
      6. Agaram Technologies Pvt Ltd
      7. Agilent Technologies Inc
      8. Labware
      9. STARLIMS Corporation
      10. IBM
      11. Others
  12. Strategic Recommendations
  13. Appendix
    1. List of Tables
    2. List of Figures
  14. References

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Frequently Asked Questions(FAQ)

The global Laboratory Information Management System Market was valued at USD 2.3 billion in 2023. The market is expected to expand at a CAGR of 13% from 2024-2033, and is expected to cross value of USD 5.2 billion by the end of 2033.

Some of the key players in the Laboratory Information Management System Market include Thermo Fisher Scientific Inc., Perkin Elmer US, Autoscribe Informatics, Novatek Internationals, Benchling and Agaram Technologies.

North America, with the highest CAGR, is the fastest growing region in laboratory information management system Market.

Component, Product-type, Delivery, Industry-type, Distribution Channel and Region are the key segments in laboratory information management system market.

Rising demand for scientific data integration solution, immense popularity of Biobanks and economic growth are some of the key factors driving the growth of the laboratory information management system market.

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