Lab Information Management Systems Market Size (USD 4.15 Billion by 2031) Pioneering Growth to Fulfill Healthcare Requirements

Allied Market Research published a report, titled, “Lab Information Management Systems Market by Product Type (Broad- Based/Multipurpose LIMS, Industry Specific LIMS), by Component (Software, Services), by Delivery Mode (Web-Based and Cloud-Based, On-Premises), by Industry Type (Life Science, Chemical and Energy Industries, Food and Beverage and Agriculture Industries, Clinical Research Organization (CRO)/Contract Manufacturing Organizations (CMO), Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global Lab Information Management Systems Market Size was Valued at USD 1.47 billion in 2021 and is Projected to Garner USD 4.15 billion by 2031, registering a CAGR of 10.9% from 2022 to 2031.

The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

Impact of Covid-19 on Lab Information Management Systems Market:

• The outbreak of the pandemic gave way to a significant surge in demand for lab information management systems in clinical laboratories for Covid-19 testing across the world, which impacted the market positively.
• Incorporation of automated solutions such as LIMS for hospitals and clinical laboratories was expected to alleviate stress by endorsing efficient testing of ample samples. For example, during the Covid-19 pandemic, in December 2020, Indian Railways introduced an integrated hospital management information system (HMIS) in South Central Railways and Northern Railways.

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𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐟𝐚𝐜𝐭𝐨𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭?

 Rise in research & development activities associated with drug discoveries has resulted in a steep surge in the adoption of lab information management solutions across the world, which in turn drives the global lab information management systems market. On the other hand, high costs associated with the same and lack of skilled professionals in the industry impede the growth to some extent. However, rapid development of healthcare infrastructure along with the government’s support to digitalized services in developing countries such as China, India, and others has paved the way for lucrative opportunities in the industry.

𝐓𝐨𝐩 𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬

• Agilent Technologies Inc.
• Illumina Inc.
• Siemens AG
• LabLynx Inc.
• Genetic Technologies Inc.
• PerkinElmer Inc.
• CrelioHealth Inc.
• LabWare Inc.
• Abbott Laboratories
• Thermo Fisher Scientific Inc.

𝐋𝐚𝐛 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

By product type, the broad-based/ multipurpose LIMS segment contributed to the major share in 2021, holding around three-fifths of the global lab information management systems market revenue. The same segment would also showcase the fastest CAGR of 11.2% throughout the forecast period. This is attributed to the rise in the adoption of broad-based/ multipurpose LIMS across the world. They can collect and share data securely and instantaneously from anywhere to any device.

By delivery mode, the web-based and cloud-based segment accounted for nearly three-fifths of the global lab information management systems market share in 2021, and is expected to maintain the lion’s share by 2031. This is because it provides users with the required access to their data from any location and from any device and enables them to store and share data with other users securely.

By industry type, the life science segment garnered the major share in 2021, contributing to around two-fifths of the global lab information management systems market revenue. The same segment would also display the fastest CAGR of 11.3% during the forecast period. This is due to the increased research and development activities in biopharmaceutical industries worldwide.

By region, North America held the major share in 2021, accounting for around two-fifths of the global lab information management systems market revenue. This is owing to the high adoption rate of technologically advanced lab information management system, rise in healthcare expenditure, and the presence of major key players across the region. The Asia-Pacific region, on the other hand, would portray the fastest CAGR of 11.9% from 2022 to 2031. The presence of biotech/pharma laboratories and contract research organizations in this province has increased the demand for laboratory information management systems, which has fueled the market growth.

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Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the lab information management systems market analysis from 2021 to 2031 to identify the prevailing lab information management systems market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the lab information management systems market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global lab information management systems market trends, key players, market segments, application areas, and market growth strategies.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook 

• North America
  (U.S., Canada, Mexico)
• Europe
  (Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
  (Japan, China, India, Rest of Asia-Pacific)
•  LAMEA
  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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