Laboratory Information Management System (LIMS) Market in terms of revenue was estimated to be worth $2.1 billion in 2024 and is poised to reach $3.8 billion by 2029, growing at a CAGR of 12.9% from 2024 to 2029 according to a new report by MarketsandMarkets™.

North America dominated the laboratory information management system industry in 2023

The laboratory information management system market is segmented into five major regions- North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the Laboratory Information Management Systems (LIMS) market. This growth is propelled by factors such as the region’s high per-capita healthcare expenditure, continuous innovation in laboratory technologies, and the integration of LIMS with Enterprise Resource Planning (ERP) and Clinical Decision Support (CDS) systems. The accessibility to advanced healthcare facilities and the increasing number of biobanks further contribute to the expanding LIMS market in North America. Additionally, the emphasis on quality control, regulatory compliance, and the adoption of digitization in laboratory processes are driving the demand for LIMS solutions in the region. Overall, the North American market’s robust growth in the LIMS sector can be attributed to a combination of technological advancements, regulatory requirements, and the healthcare industry’s evolving needs.

Laboratory Information Management System (LIMS) Market Dynamics:

Drivers:

· Growing use of LIMS to comply with stringent regulatory requirements

Restraints:

· High maintenance and service costs

Opportunities:

· Growing use of LIMS in cannabis industry

Challenge:

· Dearth of trained professionals

Key Market Players of Laboratory Information Management System (LIMS) Industry:

Prominent companies in this market include LabWare (US), LabVantage Solutions Inc. (US), Thermo Fisher Scientific Inc. (US), Agilent Technologies (US), LabLynx, Inc. (US), Dassault Systèmes (France), Labworks LLC (US), Autoscribe Informatics (a wholly owned subsidiary of Autoscribe Limited) (US), Accelerated Technology Laboratories (ATL) (US), CloudLIMS (US), Computing Solutions, Inc. (US), GenoLogics Inc. (an Illumina Company) (Canada), Siemens (Germany), Novatek International (Canada), Ovation (US), Clinsys (US), Eusoft Ltd. (Italy), Caliber International (US), LABTrack (US), Agilab SAS (US), Agaram Technologies (India), and AssayNet Inc. (Canada), Blaze Systems Corporation (US), and LabLogic Systems Limited (UK).

The break-down of primary participants is as mentioned below:

· By Company Type — Tier 1: 38%, Tier 2: 45%, and Tier 3: 17%

· By Designation — C-level: 29%, Director-level: 44%, and Others: 27%

· By Region — North America: 42%, Asia Pacific: 21%, Europe: 28%, Latin America: 5% and Middle East & Africa: 4%

Laboratory Information Management System (LIMS) Market — Key Benefits of Buying the Report:

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

Recent Developments of the Laboratory Information Management Systems (LIMS) Industry:

• In February 2024, Labware has inaugurated its newest office in Seoul, Korea and established LabWare Korea Co., Ltd. This office will provide localized support, training, and implementation services to LabWare’s growing customer network in Korea. Staffed by experienced LIMS professionals, the office aims to strengthen LabWare’s foothold in the Asia-Pacific region by offering tailored solutions to meet the unique needs of Korean organizations.
• In January 2024, STARLIMS has launched Life Sciences for Public Health (LPH) 1.0, a LMS tailored for the Public Health sector. Featuring HTML5 browser-based technology, it signifies a significant advancement, promising a modernized user interface and enhanced functionalities. The release marks the beginning of a comprehensive, multi-year product roadmap aiming to elevate user experience and innovation in the Public Health LIMS market.
• In Novemeber 2023, LabWare (US) partnered with Körber (US). This partnership was carried to seamlessly integrate capabilities between LabWare’s Laboratory Information Management System (LIMS) and Körber’s Manufacturing Execution System (MES) — PAS-X.
• In October 2022, LabVantage Solutions, Inc. (US) and Biomax Informatics AG (Germany) finalized their merger agreement, with the goal of elevating scientific data contextualization, expediting product development, and delivering innovative capabilities for the life science and bio-manufacturing industries.

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