What Has Been the Growth of the Laboratory Information Management System Market So Far?
The laboratory information management system market has seen considerable growth due to a variety of factors.
• In recent times, there has been a considerable growth in the size of the laboratory information management system market. From $2.21 billion in 2024, it is projected to surge to $2.44 billion in 2025, marking a compound annual growth rate (CAGR) of 10.5%.
The growth witnessed during the historic period is due to factors like the escalating need for regulatory compliance, augmentation in research and development activities, surge in demand for precise data, rising data volume, along with quality assurance and process optimization.
What Are the Future Growth Projections for the Laboratory Information Management System Market?
The laboratory information management system market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of the laboratory information management system is predicted to experience a swift expansion. Its value is expected to reach $3.6 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.2%.
The anticipated growth can be credited to the incorporation of advanced analytics and AI, the introduction of personalized medicine, heightened focus on cyber security, integration with additional laboratory instruments, as well as the broadening of biobanking activities. Key trends during the forecast period include technological enhancement, escalated complexity in research, coordination with sophisticated technologies, cloud-based platforms, and mobile LIMS.
What Are The Core Factors Supporting Growth In The Laboratory Information Management System Market?
The boost in research and development initiatives is anticipated to spur the laboratory information management system market's expansion in the future. These initiatives involve an array of processes undertaken by organizations to innovate new knowledge, products, services, or procedures or to improve existing ones. Laboratory information management systems (LIMS) are integral to these research and development processes, facilitating seamless lab operations. They aid a variety of research tasks, such as categorizing research data into projects and studies, resource monitoring, work assignment, reducing IT upkeep costs, and maximizing productivity, among others. For instance, Eurostat, a non-profit organization based in Luxembourg, reported in August 2023 that the European government assigned roughly $124,899.50 million for laboratory research and development (R&D) in 2022, reflecting a 5.4% increase from the $118541.09 million designated in 2021. Therefore, the surge in research and development endeavors is stirring the growth of the laboratory information management system market.
What Are The Major Segments Within The Global Laboratory Information Management System Market?
The laboratory information management system market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment Model: On-Premise Laboratory Information Management System (LIMS), Cloud Laboratory Information Management System (LIMS), Remotely Hosted Laboratory Information Management System (LIMS)
3) By Distribution Channel: Direct Tenders, Retail Sales
4) By End-Use: Life Sciences, Contract Research Organizations (CROs), Petrochemical Refineries And Oil And Gas Industry, Chemical Industry, Food And Beverage And Agriculture Industries, Environmental Testing Laboratories, Other Industries (Forensics And Metal And Mining Laboratories)
Subsegments:
1) By Software: On-Premise LIMS, Cloud-Based LIMS, Web-Based LIMS
2) By Services: Implementation Services, Support And Maintenance Services, Consulting Services
Pre-Book The Laboratory Information Management System Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Shaping The Laboratory Information Management System Market?
Key players in the laboratory information management system market are turning their focus to the creation of technologically superior products such as scalable lab automation solutions. These products aim to equip labs with scalable, flexible, and automated solutions to make operations more efficient and improve data management. The term 'scalable lab automation solutions' means modular and adaptable systems that help laboratories automate and improve workflows. These systems can easily adapt and grow as the operational demands change. For example, Clinisys, a US-based informatics software firm, debuted the Clinisys Laboratory Solutions in July 2023. This product comes with specialized laboratory information management systems (LIMS) which are built on a combined SaaS platform and improves automation, scalability, and data management. It allows laboratories to run more smoothly, delve deeper into analytics, and boost workflow flexibility while cutting down costs and strengthening security. Such an innovation aids laboratories in furthering scientific advancements by enhancing the management and analysis of data across various sectors, including environmental, water quality, and public health laboratories.
Who Are the Key Players In The Laboratory Information Management System Market?
Major companies operating in the laboratory information management system market report are:
• McKesson Corporation
• Siemens AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• STARLIMS Corporation
• Novatek International Pty Ltd.
• Agilent Technologies Inc.
• Dassault Systemes SA
• PerkinElmer Inc.
• Illumina Inc.
• Ovation.io Inc.
• Waters Corporation
• CompuGroup Medical
• CliniSys Group Limited
• LabWare Inc.
• LabLynx Inc.
• LabVantage Solutions Inc.
• INFORS GmbH
• Agaram Technologies Pvt Ltd.
• Benchling Inc.
• CloudLIMS Lab Solutions (India) Pvt. Ltd.
• Quartzy Inc.
• Caliber Technologies Inc.
• Accelerated Technology Laboratories Inc.
• Autoscribe Limited
• Labworks International Inc.
• Computing Solutions Inc.
• CrelioHealth Inc.
• AssayNet Inc.
• Eusoft Ltd.
What Is The Most Dominant Region In The Laboratory Information Management System Market?
North America was the largest region in the laboratory information management system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the laboratory information management system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
