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Laboratory Information Management System (LIMS) Market - Global Outlook and Forecast 2021-2026

  • ID: 5313414
  • Report
  • April 2021
  • Region: Global
  • 274 pages
  • Arizton
UP TO OFF
until Aug 15th 2021

FEATURED COMPANIES

  • Abbott
  • Benchling
  • CrelioHealth
  • Illumina
  • LabWare
  • Promium
1h Free Analyst Time

Speak directly to the analyst to clarify any post sales queries you may have.

In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Laboratory Information Management System Market Report

The global laboratory information management system market by revenue is expected to grow at a CAGR of approx. 12 % during the period 2020-2026.

The growing automation in laboratories, technological advancements in LIMS, the need for regulatory compliance, and increasing R&D spending are the key drivers boosting the market growth. However, the growing demand for managing laboratory data via cloud-based solutions is a significant factor boosting the market growth. The storage of data via cloud-based solutions is reliable, agile, and secure. There is an increase in the adoption of cloud-based LIMS among healthcare laboratories. These solutions offer a host of benefits, including reliability, security, and constant data storage access. A large volume of data due to the increase in the number of patients undergoing diagnostics has increased complexities in workflow management. LIMS has proved highly beneficial for laboratories during the COVID-19 pandemic. Laboratories equipped with LIMS have constantly been performing the diagnostics faster with reducing turnaround times. This has a major impact on reducing the quarantine period of suspected patients and initiating a proper treatment of COVID-19 positive patients.

The following factors are likely to contribute to the growth of the laboratory information management systems market during the forecast period:
  • Introduction of LIMS packages addressing COVID-19 Labs
  • Increase in Demand for Genomic LIMS
  • Usage of LIMS in Medical Cannabis Industry
  • Adoption of Cloud-based LIMS
The study considers the global laboratory information management systems market’s present scenario and its market dynamics for the period 2020−2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.

Global Laboratory Information Management System Market Segmentation

The global laboratory information management system market research report includes a detailed segmentation by products, components, deployment, end-users, geography. Broad-based laboratory information management systems market share accounts for 62% of the global LIMS market in 2020. These solutions are entirely configurable and customized software, featuring a comprehensive range of functionalities and modules. Global enterprises are the major end-users of these solutions as they must integrate multiple LIMS applications from several segments. The demand is growing as modern LIMSs help to connect several applications under a single system, thereby helping enterprises to operate efficiently, share and secure data, develop standard operating procedures, manage day-to-day accounts. A major advantage of broad-based solutions is cost-efficiency. These solutions involve low maintenance with multiple labs sharing a single LIMS solution. North America expects to account for a revenue share of over USD 523 million by 2026. The presence of over 530 regenerative medicine companies involving the use of advanced infrastructure such as LIMS to handle a large number of samples and track the status of the sample is likely to drive the demand. Industry-specific LIMSs expect to grow at a CAGR of approx. 12% during 2020-2026. They are exclusive and are specially designed for industries. These systems or solutions are observing high demand from agricultural and contract research organizations.

The cloud-based LIMS market is expected to grow at a CAGR of over 12% during 2020-2026. Vendors are increasingly adopting cloud-based LIMS to minimize expenditure and save time and resources. The demand for data safety and security has driven companies to invest mainly in the cloud-based infrastructure, which is another factor driving the adoption. In 2020, web-based LIMSs accounted for the share of over 41% in the global LIMS market. The implementation of remote LIMS helps laboratories reduce risks, develop business opportunities, and offer flexibility in working. These solutions help companies and organizations to run laboratories remotely and from multiple locations. With the outbreak of the COVID-19 pandemic, most laboratories conducted their data-oriented processes from home using cloud-hosted, remote-based LIMSs. Several laboratories, CROs, research institutes, and pharma and biotech companies have worked uninterruptedly during the pandemic, thereby increasing productivity. Therefore, web-hosted solutions help achieve long operational life, decrease ownership cost, and offer excellent investment returns.

In 2020, the life sciences end-user segment accounted for over 54% of the global laboratory information management systems market. The life sciences industry is moving toward personalized treatment for patients using cell and gene therapy technology. Adopting advanced LIMS has helped life sciences companies offer flexibility in the routine QC and improve productivity. During the COVID-19 pandemic, several LIMSs came out with COVID-19 extracting and testing workflows, complete electronic patient recording and tracking systems, comprehensive sample data traceability, scalable consumables inventory management, compliant audit trials, configurable security and permissions, flexible reporting frameworks, and integrations. These inclusions and enchantments influence the growth of LIMSs among life science end-users. It has helped vaccine vendors streamline their processes and manage crucial stages in the vaccine research development phase.

In 2020, the services segment constituted over 57% of the global LIMS market share. The global LIMS services market is expected to reach over USD 1.2 billion by 2026. These services include professional expertise, training, managed and validation services, and customer support. As these services are recurring, the revenue share expects to grow during the forecast period. The segment is likely to increase its revenue share because of the increased adoption of LIMSs in diagnostic centers and laboratories. North America and Europe are projected to contribute maximum revenue to the market due to the presence of large regenerative medicine enterprises adopting LIMSs. Similarly, several labs across Europe implemented the COVID-19 specific LIMS to handle the samples and share the results faster. As the laboratories in Europe are primarily automated, implementing LIMS and configuring the existing LIMS specific to COVID-19 has not been a challenge for large public laboratories.

Product
  • Broad-based LIMS
  • Industry Specific LIMS
Component
  • Services
  • Software
Deployment
  • Cloud-based LIMS
  • Web-hosted LIMS
  • On-premise LIMS
End-users
  • Life Sciences Industry
  • Chemical & Energy Industries
  • Food, Beverage, & Agriculture Industries
  • Other Industries
INSIGHTS BY GEOGRAPHY

North America accounted for the share of over 42% of the global LIMS market in 2020. There is a large population that is involved in agriculture practices in the region. Over 3 million hectares of land are used for organic farming alone; LIMSs specific to agriculture have helped farmers automate several processes, thereby witnessing growth. The increasing adoption in oil refineries helps end-users reduce production costs, simplify laboratory operations, and comply with quality standards and regulations. Similarly, the usage of LIMS is increasing in the food and beverage segment. With the coronavirus creating havoc across North America, especially the US witnessing high mortality, testing has been performed rapidly. A high percentage of testing was handled through COVID-19-specific LIMSs installed in several laboratories, helping technicians ease works, sharing results through mails, and tracking the samples. Moreover, the US accounted for the largest share of the North American LIMS market in 2020. The shortage of skilled laboratory technicians, an increased number of diagnostic tests conducted across the country, and increased investments related to the life science industry are the major factors responsible for driving the demand for LIMS in the market.

Geography
  • North America
  • US
  • Canada
  • Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
  • APAC
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Latin America
  • Mexico
  • Brazil
  • Argentina
  • Middle East & Africa
  • Saudi Arabia
  • Turkey
  • South Africa
INSIGHTS BY VENDORS

Illumina, Thermo Fisher Scientific, Abbott, LabVantage, and LabWare account for significant shares in the global market. Several companies are developing or commercializing products, expanding their manufacturing facilities, and partnering with others in the market. For instance, in 2020, Illumina introduced software for whole-genome analysis to examine rare diseases. Similarly, Thermo Fisher Scientific has made a strategic partnership with First genetics JCS to promote NGS in Russia. Several regional vendors are investing in new software in Europe, APAC, and North America. Many regional and local companies pose a threat to global players due to their innovative and cost-effective products and technologies. However, this also indicates tremendous growth opportunities both for existing and future/emerging players. 

Prominent Vendors
  • Abbott
  • Illumina
  • Thermo Fisher Scientific
  • LabWare
  • LabVantage
Other Prominent Vendors
  • Accelerated Technologies
  • AgileBio
  • Autoscribe Informatics
  • Ambidata
  • Blomesystem
  • Benchling
  • Bio-ITech BV
  • CrelioHealth
  • CompuGroup Medical
  • Dassault Systèmes
  • Dotmatics
  • i-LIMS
  • LabLite
  • LabLynx
  • Modul-Bio
  • LabPLUS
  • Novatek
  • PerklinElmer
  • Promium
  • Siemens Healthineers
  • Sapio Sciences
  • Sunquest Information Systems
KEY QUESTIONS ANSWERED
1. How big is the laboratory information management system market?
2. What is the LIMS market growth?
3. Which regions are likely to contribute maximum revenue to the market during the forecast period?
4. What is the growth of the LIMS market in India?
5. Who are the key players in the laboratory information management system market?
6. What growth strategies are adopted by leading players to gain market share?
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Abbott
  • Benchling
  • CrelioHealth
  • Illumina
  • LabWare
  • Promium
1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of The Study

5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation

6 Market at a Glance

7 Introduction
7.1 Overview

8 Market Opportunities & Trends
8.1 Introduction of LIMs In Labs To Combat Covid-19
8.2 Increasing Demand For Genomic LIMs
8.3 Usage of LIMs In Medical Cannabis Industry

9 Market Growth Enablers
9.1 Growing Adoption Of Cloud-Based LIMs
9.2 Integration Of ELN With LIMs
9.3 Increasing Demand For Mobile LIMs

10 Market Restraints
10.1 Increasing Incidence Of LIMs Failure
10.2 High Cost Of LIMs Implementation
10.3 Technical Challenges Among Lab Technicians

11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis

12 Product
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Broad-Based LIMS
12.4 Industry-Specific LIMS

13 Deployment Model
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Cloud-Based LIMS
13.4 Web-Hosted LIMS
13.5 On-Premise

14 Component
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.3 Service
14.4 Software

15 End-User
15.1 Market Snapshot & Growth Engine
15.2 Market Overview
15.3 Life Sciences
15.4 Chemical & Energy
15.5 Food & Beverages
15.6 Others

16 Geography
16.1 Market Snapshot & Growth Engine
16.2 Geographic Overview

17 North America
17.1 Market Overview
17.2 Market Size & Forecast
17.3 North America: Product Segmentation
17.4 North America: Deployment Model Segmentation
17.5 North America: Component Segmentation
17.6 North America: End-User Segmentation
17.7 Key Countries

18 Europe
18.1 Market Overview
18.2 Market Size & Forecast
18.3 Europe: Product Segmentation
18.4 Europe: Deployment Model Segmentation
18.5 Europe: Component Segmentation
18.6 Europe: End-User Segmentation
18.7 Key Countries

19 APAC
19.1 Market Overview
19.2 Market Size & Forecast
19.3 APAC: Product Segmentation
19.4 APAC: Deployment Model Segmentation
19.5 APAC: Component Segmentation
19.6 APAC: End-User Segmentation
19.7 Key Countries

20 Latin America
20.1 Market Overview
20.2 Market Size & Forecast
20.3 Latin America: Product Segmentation
20.4 Latin America: Deployment Model Segmentation
20.5 Latin America: Component Segmentation
20.6 Latin America: End-User Segmentation
20.7 Key Countries

21 Middle East & Africa
21.1 Market Overview
21.2 Market Size & Forecast
21.3 Middle East & Africa: Product Segmentation
21.4 Middle East & Africa: Deployment Model Segmentation
21.5 Middle East & Africa: Component Segmentation
21.6 Middle East & Africa: End-User Segmentation
21.7 Key Countries

22 Competitive Landscape
22.1 Competition Overview
22.2 Market Share Analysis

23 Key Company Profiles
23.1 Abbott
23.2 Illumina
23.3 Thermo Fisher Scientific
23.4 Labware
23.5 Labvantage

24 Other Prominent Vendors
24.1 Accelerated Technologies
24.2 Agilebio
24.3 Autoscribe Informatics
24.4 Ambidata
24.5 Blomesystem
24.6 Benchling
24.7 BIO-ITech BV
24.8 Creliohealth
24.9 Compugroup Medical
24.10 Dassault Systèmes
24.11 Dotmatics
24.12 I-LIMS
24.13 Lablite
24.14 Lablynx
24.15 Modul-Bio
24.16 Labplus
24.17 Novatek
24.18 Perklinelmer
24.19 Promium
24.20 Siemens Healthineers
24.21 Sapio Sciences
24.22 Sunquest Information Systems

25 Report Summary
25.1 Key Takeaways
25.2 Strategic Recommendations

26 Quantitative Summary
26.1 Market By Geography
26.2 Market By Deployment
26.3 Market By End-User
26.4 Market By Product
26.5 Market By Component

27 Appendix
27.1 Abbreviations
Note: Product cover images may vary from those shown
  • Abbott
  • Illumina
  • Thermo Fisher Scientific
  • LabWare
  • LabVantage- Accelerated Technologies
  • AgileBio
  • Autoscribe Informatics
  • Ambidata
  • Blomesystem
  • Benchling
  • Bio-ITech BV
  • CrelioHealth
  • CompuGroup Medical
  • Dassault Systèmes
  • Dotmatics
  • i-LIMS
  • LabLite
  • LabLynx
  • Modul-Bio
  • LabPLUS
  • Novatek
  • PerklinElmer
  • Promium
  • Siemens Healthineers
  • Sapio Sciences
  • Sunquest Information Systems
Note: Product cover images may vary from those shown

Our research comprises a mix of primary and secondary research. The secondary research sources that are typically referred to include, but are not limited to, company websites, annual reports, financial reports, company pipeline charts, broker reports, investor presentations and SEC filings, journals and conferences, internal proprietary databases, news articles, press releases, and webcasts specific to the companies operating in any given market.

Primary research involves email interactions with the industry participants across major geographies. The participants who typically take part in such a process include, but are not limited to, CEOs, VPs, business development managers, market intelligence managers, and national sales managers. We primarily rely on internal research work and internal databases that we have populated over the years. We cross-verify our secondary research findings with the primary respondents participating in the study.



 

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