Artificial Intelligence
Laboratory Information Management System Market to Worth USD 3.8 Billion by 2030 | Skyquest Technology
Westford USA, June 30, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the pharmaceutical industry is poised to experience a surge in demand for lab automation systems in the coming years, driven by significant technological advancements and the growing need for efficiency and accuracy in laboratory processes. The advent of cutting-edge technologies, such as robotics, artificial intelligence, and machine learning, has revolutionized the way research and development (R&D) labs operate.
Browse in-depth TOC on the “Laboratory Information Management System Market.”
- Pages – 242
- Tables – 87
- Figures –76
Laboratory information management system (LIMS) software is crucial in efficiently managing samples and the associated data within a laboratory setting. It offers a comprehensive solution for laboratories to streamline their operations and optimize workflows. LIMS software enables seamless integration with laboratory instruments, allowing for automated data capture and analysis.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 1.25 billion |
| 2030 Value Projection | USD 3.8 billion |
| CAGR | 13.2% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Laboratory Information Management System Market
- Thermo Fisher Scientific Inc.
- LabWare Inc.
- LabVantage Solutions Inc.
- Abbott Laboratories
- Illumina Inc.
- Siemens Healthineers AG
- Agilent Technologies Inc.
- PerkinElmer Inc.
- Waters Corporation
- Genologics, a Illumina Company
- Autoscribe Informatics Inc.
- RURO Inc.
- Novatek International
- Promium LLC
- Techlimed LLC
- Blaze Systems Corporation
- Khemia Software Inc.
- Lablynx Inc.
- Caliber Infosolutions Inc.
- Accelerated Technology Laboratories Inc.
Contract Research Organizations Segment is Expected to Grow the Market Due to Growing Demand for Outsourcing Services
The contract research organizations (CROs) segment is projected to witness the highest growth rate from 2023 to 2030, fueled by pharmaceutical and biotechnological companies’ growing demand for outsourcing services. This trend arises from several factors driving the need for external support in research and development activities.
The market in North America emerged as the leader, capturing the largest revenue share of 45%. This dominance can be attributed to factors that have facilitated the widespread adoption of laboratory automation, particularly in the healthcare sector.
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Software Segment is Expected to Dominate the Market Due to the Advancements in Software Systems
The software segment of the laboratory information management systems (LIMS) market is projected to demonstrate consistent growth throughout the forecast period. This growth can be attributed to the continuous advancement of software systems, progressing from software-as-a-service (SaaS) to more advanced platforms such as platform-as-a-service (PaaS), containers-as-a-service (CaaS), and community networks.
Regional markets in the Asia Pacific is expected to witness substantial growth in the forecast period, driven by a rising demand for contract research organizations (CROs) offering LIMS services. Emerging economies such as India and Japan have established themselves as prime outsourcing destinations due to the availability of skilled human resources and cost advantages.
A comprehensive analysis of the major players in the laboratory information management system market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Laboratory Information Management System Market
- LabVantage Solutions, Inc. made a significant stride in 2022 by releasing Version 8.8 of its flagship laboratory information management system (LIMS) platform. This latest version brings a host of upgrades across all components, offering enhanced functionality and capabilities to its users. The introduction of these advancements is anticipated to positively impact the growth of the LIMS market throughout the forecast period.
- LabWare recently made a significant advancement with the launch of LabWare 8, the latest version of its laboratory information management system (LIMS). LabWare 8 represents an evolution in the company’s enterprise laboratory platform (ELP), offering a unified solution that combines the functionalities of both LIMS and electronic laboratory notebook (ELN) systems into a seamless, integrated system.
Key Questions Answered in Laboratory Information Management System Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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