Laboratory Information Management Systems Market to Reach $2.92 Billion by 2030 - Market Size, Share, Forecasts, & Trends Analysis Report with COVID-19 Impact by Meticulous Research®

REDDING, Calif., Jan. 26, 2023 /PRNewswire/ -- According to a new market research report titled, 'Laboratory Information Management System (LIMS) Market by Mode of Delivery (On-premise, Cloud), Component (Service, Software), Type (Multi-purpose, Purpose-built), End User (Life Science, Food & Beverage, Petrochemical, Chemical) - Global Forecast to 2030', published by Meticulous Research^®, the LIMS market is expected to reach $2.92 billion by 2030, at a CAGR of 7.4% from 2022 to 2030.

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Laboratory Information Management Systems (LIMS) are valuable tools for modern laboratories. Regulatory agencies have provided various guidance documents that define requirements for assuring the accuracy, reliability, and acceptability of LIMS. Regulatory compliance is adherence to laws, regulations, guidelines, and specifications set for businesses. Violating regulatory compliance regulations often results in legal punishment, including federal fines. Regulatory complexity and scrutiny by relevant authorities make regulatory compliance a major challenge for various industries, including life sciences, petrochemicals, oil & gas, food & beverage, and agriculture. Most regulatory guidelines are associated with data management, security, and integrity. Thus, the growing need to comply with strict regulatory requirements and the ability of LIMS to enable data management, improve data integrity, streamline lab workflows, and help comply with regulatory guidelines drive the growth of the LIMS market.

The global laboratory information management systems market is segmented on the basis of Mode of Delivery (On-premise LIMS and Web-based and Cloud-based LIMS), Component (Service and Software), Type (Multi-purpose LIMS and Purpose-built LIMS), End User (Life Sciences {Pharmaceutical & Biotechnology Companies, Academic and Research Institutes, Biobanks & Biorepositories, CROs, and Others}, Food & Beverage, Chemical Industry, Petrochemicals and Oil & Gas Industry, Environmental Testing Laboratories, Other End Users), and Geography. The study also evaluates industry competitors and analyzes their market share at global and regional levels.

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Based on mode of delivery, the web-based and cloud-based LIMS systems segment is expected to account for the largest share of the market in 2023. The trend of deploying web-based and cloud-based LIMS systems is rising as the web-based and cloud-based LIMS ensures reduced IT staff responsibilities, eliminates capital expenses, and can be built per the laboratory scales.

Based on component, the services segment is expected to account for the largest share of the market in 2023. The segment's largest share is attributed to the high adoption of cloud-based models, technological advancements in LIMS solutions, stringent regulatory requirements, and the recurring nature of services.

Based on type, the purpose-built LIMS segment is estimated to grow at the highest CAGR during the forecast period. Purpose-built LIMS is specifically designed to address the needs of specific industries such as pharmaceutical manufacturing R&D, food & beverage, oil & gas, and QA/QC testing laboratories. These laboratory information management systems are being successfully implemented worldwide by pharmaceutical manufacturers.

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Based on end user, the life sciences segment is expected to account for the largest share of the market in 2023. The adoption of LIMS is rising in the life sciences industry, as it is one of the most technology-intensive industries focused on significant and continuous investments in R&D. Also, this industry is facing unprecedented challenges such as evolving regulatory framework, stringent compliance, patent expirations, low R&D productivity, increased global competition, and decreasing margins resulting in cost & compliance pressures.

Geographically, the laboratory information management systems market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa, with a further analysis of major countries in these regions. In 2023, North America is expected to account for the largest share of the market. North America's large share is mainly attributed to the increased adoption and investment in advancing technologies, ease in availability of LIMS services and products, and stringent regulatory requirements in various end-user industries.

Some of the key players dominating this LIMS market are LabWare, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), LabVantage Solutions Inc. (U.S.), LabLynx, Inc. (U.S.), Labworks (U.S.), Agilent Technologies, Inc. (U.S.), Labii Inc. (U.S.), Accelerated Technology Laboratories, Inc. (U.S.), LABTRACK (U.S.), Computing Solutions, Inc. (U.S.), Dassault Systèmes (France), Ovation (U.S.), CloudLIMS (U.S.), STARLIMS Corporation (U.S.), Autoscribe Informatics (U.K.), Illumina, Inc. (U.S.), Siemens AG (Germany), Novatek International (Canada).

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Scope of the Report:

Laboratory Information Management Systems Market, by Mode of Delivery

• On-premise LIMS
• Web-based and Cloud-based LIMS

Laboratory Information Management Systems Market, by Component

• Service
• Software

Laboratory Information Management Systems Market, by Type

• Multi-purpose LIMS
• Purpose-built LIMS

Laboratory Information Management Systems Market, by End User

• Life Sciences
• Pharmaceutical & Biotechnology Companies
• Academic and Research Institutes
• Biobanks & Biorepositories
• CROs
• Other Life Science Users
• Food & Beverage
• Chemical Industry
• Petrochemicals and Oil & Gas Industry
• Environmental Testing Laboratories
• Other End Users

Note: Other life sciences users include diagnostic laboratories and toxicology laboratories.

Other end users include forensic laboratories, mining & metal laboratories, and contract manufacturing organizations (CMOs).

Laboratory Information Management Systems Market, by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• India
• Rest of APAC (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of Latin America (RoLATAM)
• Middle East & Africa

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