Europe Laboratory Information Management Systems (LIMS) Market is expected to reach US$ 476.17 million by 2028


PRESS RELEASE BY The Insight Partners 14 Mar 2022

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Cloud-Based Delivery Mode Segment to Dominate the Europe Laboratory Information Management Systems (LIMS) Market during 2021–2028

According to The Insight Partners market research study on “Europe Laboratory Information Management Systems (LIMS) Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Deployment, Component, Application, and End-User,” is expected to reach US$ 1,400.64 million by 2028 from US$ 648.09 million in 2021. The market is estimated to grow at a CAGR of 11.6% from 2021 to 2028. The report provides trends prevailing in the Europe laboratory information management systems (LIMS) market along with the drivers and restraints pertaining to the market growth. Increasing adoption of automation in laboratories, emergence of cloud-based LIMS services, and strengthening technological advancements in LIMS are the major factor driving the growth of the Europe laboratory information management systems (LIMS) market. However, improper expertise in healthcare IT domain hinders the growth of Europe laboratory information management systems (LIMS) market.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. As number of patients in European healthcare setting has increased dramatically due to this outbreak, laboratories are at risk of diagnostic error. However, LIMS solutions help companies and organizations to run their 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. Since the pandemic’s onset, prominent players in the laboratory information systems landscape are collaborating with public and private sector organizations to employ advanced technologies for implementing COVID-19 testing capabilities. For instance, LabWare Technologies has collaborated with the National Health Service to provide laboratory management software to healthcare settings across the United Kingdom.

The Europe laboratory information management systems (LIMS) market is segmented on the basis of type, deployment, component, application, end-user, and country. Based on type, the market is bifurcated into standalone and integrated. In 2021, standalone segment held the largest share in the market, integrated is expected to be the fastest growing segment during the forecast period. Based on deployment, the market is segmented into web-based delivery mode, cloud-based delivery mode, and on-premise delivery mode. In 2021, web-based delivery mode segment held the largest share in the market, and cloud-based delivery mode is expected to be the fastest growing segment during the forecast period. Based on component, the market is segmented into software and services. In 2021, software segment held the largest share in the market, and services is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into sample management, workflow automation, records management, decision making, enterprise resource planning, and logistics management. In 2021, sample management segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into pharmaceutical companies, contract research organisations, hospitals & clinics, others. In 2021, pharmaceutical companies segment held the largest share in the market, contract research organisations is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Germany, the UK, France, Italy, Spain, and Rest of Europe. In 2021, the Germany held the largest share in the market, and the UK is expected to be the fastest growing country during the forecast period.

THERMO FISHER SCIENTIFIC INC.; Abbott; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; Accelerated Technology Laboratories, Inc.; and LabWare; Autoscribe Informatics are among the leading companies in the Europe laboratory information management systems (LIMS) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Thermo Fisher Scientific introduced new lab automation technologies designed to streamline workflows, optimize productivity, and speed time to results.

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