LIMS Market Size, Share and Industry Report by 2028

The Laboratory Information Management System (LIMS) Market was valued at US$ 1,122.36 million in 2021 and is projected to reach US$ 2,402.48 million by 2028; it is expected to grow at a CAGR of 11.5% from 2021 to 2028.

A laboratory information management system (LIMS), also known as a laboratory information system (LIS) or laboratory management system (LMS), is a software-based solution that supports modern laboratory operations. Key features of LIMS include workflow management as well as data tracking and processing. Its flexible architecture and data exchange interfaces support its use in regulated clinical environments. The features and uses of a LIMS have evolved over the years from simple sample tracking to an enterprise resource planning tool that manages multiple aspects of laboratory informatics.   

The scope of the Laboratory Information Management System (LIMS) market includes type, deployment, component, application, end user, and region. The market for Laboratory Information Management System (LIMS) is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the Laboratory Information Management System (LIMS) market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

Lucrative Regions for Laboratory Information Management System (LIMS) Market

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Market Insights

Rising Adoption of Automation in Laboratories

Laboratory automation is emerging as an approach to minimize human involvement in laboratory processes. The automation of routine laboratory procedures with the help of dedicated workstations and system software helps increase laboratory efficiency and enables researchers to concentrate on important tasks along with avoiding human errors. Laboratories are increasingly adopting laboratory information management systems (LIMS) to maintain stringent regulatory compliance, uplift efficiency and productivity, and drive data security and integrity. According to a study published in the Journal of Lab Automation, the error incidences in fully automated, semi-automated, and manual operations are 1–5%, 1–10%, and 10–30%, respectively. The growing use of digital workstations, automated analyzers, and total laboratory automation (TLA) allows laboratory personnel to reassign activities and contribute a greater value to operations. Moreover, high volumes of data generated by laboratory systems is triggering the demand for effective data processing, analysis, and sharing methods, thereby highlighting the need of efficient and cost-effective solutions such as the LIMS.

Further, growing demand for data integration is another factor contributing to the laboratory information management systems market growth.

Laboratory Information Management System (LIMS) Type -Based Insights                

Based on type, the Laboratory Information Management System (LIMS) market is segmented into standalone and integrated. The standalone segment held a larger share of the market in 2021, however the integrated segment is anticipated to register a higher CAGR in the market during the forecast period.  

Laboratory Information Management System (LIMS) Deployment-Based Insights                 

Based on deployment, the Laboratory Information Management System (LIMS) market is segmented into web-based delivery mode, cloud-based delivery mode, and on-premises delivery mode. The web-based delivery mode segment is likely to hold the largest share of the market in 2021, however cloud-based delivery mode segment is expected to grow at the fastest rate in the coming years. Growth of the web-based delivery mode segment is attributed to advantages such as high security, lower price, instant software updates, and unlimited storage capacity.

Global Laboratory Information Management System (LIMS) Market, by Deployment – 2021 & 2028

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Laboratory Information Management System (LIMS) Component-Based Insights                  

Based on component, the Laboratory Information Management System (LIMS) market is segmented into software and services. The software segment is likely to hold a larger market share in 2021, however the services segment is anticipated to register a higher CAGR in the market during the forecast period. Growth of software segment is attributed to improved efficiency, quick results, and data tracking from various experiments.

Application-Based Insights

Based on application, the Laboratory Information Management System (LIMS) market is segmented into sample management, workflow automation, logistics management, enterprise resource planning, privacy and security controls, and other applications. The sample management segment is likely to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.  

End User – Based Insights

Based on end user, the Laboratory Information Management System (LIMS) market is segmented into hospitals & clinics, pharmaceutical companies, contract research organizations, and others. The pharmaceutical companies segment is likely to hold the largest share of the market in 2021, however the contract research organizations segment is anticipated to register the highest CAGR in the market during the forecast period.

COVID-19 pandemic has become the most significant challenge across the world. Clinical laboratories are finding difficulty in coping with the rapid influx of COVID-19 testing samples, which, in turn is impacting their ability to provide accurate testing. Implementation of automated solutions such as LIMS is expected to relieve this stress on clinical laboratories by promoting efficient testing of voluminous samples. The adoption of LIMS has been increased with the outbreak of COVID-19, enabling healthcare providers to concentrate on drug and vaccine development by smoothening data collection procedures. 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 UK.

Acquisition, collaboration, partnerships, new Product launches, and expansion strategy are commonly adopted by companies to expand their footprint worldwide and meet the growing demand. These strategies are commonly adopted by the market players to expand its product portfolio.

The market players operating in the Laboratory Information Management System (LIMS) market have adopted the strategy of product innovation to cater changing customer demand across the world, which also helps players to maintain their brand name globally.

By Type

• Standalone
• Integrated

By Deployment

• Web-Based Delivery Mode
• Cloud-Based Delivery Mode
• On-Premise Delivery Mode

By Component

• Software
• Services

By Application

• Sample Management
• Workflow Automation
• Records Management
• Decision Making
• Enterprise Resource Planning
• Logistics Management

By End User

• Pharmaceutical Companies
• Contract Research Organisations
• Hospitals & Clinics
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Spain
  • Rest of the Europe
• Asia Pacific (APAC)
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of South America

Company Profiles

• Thermo Fisher Scientific Inc.
• Abbott
• Illumina, Inc.
• LABWORKS
• LabLynx, Inc.
• LabVantage Solutions, Inc.
• Accelerated Technology Laboratories, Inc.
• LabSoft LIMS by Computing Solutions, Inc.
• LabWare
• Autoscribe Informatics