Summary
The global laboratory information management system (LIMS) market size was estimated at USD 1.11 billion in 2017. It is expected to witness a CAGR of 9.1% during the forecast period. Technological advancements pertinent to pharmaceutical laboratories and rising demand for lab automation are expected to fuel the demand for these systems in the coming years.
With efforts being taken to better the operational efficiency of the laboratories, the demand for Laboratory Information Management Systems is on a high along with a surge in the cost owing to technological advancement done to improve the functioning of the software. Thus, a rise in the price of deploying the Laboratory Information Management Systems may restrict market growth.
However, cost-prohibitive deployment of the information management system in laboratories, coupled with the scarcity of skilled professionals, may create hindrances in the growth of the market.
Overview
The growing prevalence of chronic diseases is driving the growth of the global laboratory information systems market. Moreover, increasing demand for laboratory automation and the development of integrated LIS is also expected to boost the growth of the market. Moreover, the growing practice of genome and DNA study is boosting the global market. Biotechnology has expanded rapidly through both private companies and academic research. The fundamental applications of this technology are in medicine (generation of vaccines and antibiotics) and agriculture. Moreover, knowledge of human sequence variation has started to change the method of medicine. This is set to give in the way for more applications for LIMS. Furthermore, cloud computing is gaining popularity among mid-size and small businesses, enabling many businesses to access application software over a high-speed internet connection. These have positively anticipated propelling the growth of the global LIMS market.
Market Size Analysis
The rising prevalence of chronic diseases is expected to drive the growth of the Laboratory Information Management System Market size. The rising prevalence and concern for chronic diseases necessitate the need for advanced diagnostic and laboratory services. The Government is introducing numerous programs for patients with chronic illnesses, such as cancer, to make their care cost-effective. Laboratory Information Systems can provide fast and reliable sub-typing for diseases, provide rapid access to cancer data, minimize complexity and costs, and promote the integration and collection of data from various types of instruments and systems.
Key Market Players
The laboratory information management system market is highly competitive, with the presence of several small and big players. In 2019, LabWare (US), LabVantage Solutions (US), and Thermo Fisher Scientific (US) were the leading players in the global LIMS market. Other major players include Abbott Informatics (US), LabLynx (US), Autoscribe Informatics (US), Agilent Technologies (US), Computing Solutions (US), GenoLogics (Canada), LABWORKS (US), Dassault Systèmes (France), Siemens (Germany), Accelerated Technology Laboratories (US), ApolloLIMS (US), Ovation (US), Novatek International (Canada), CloudLIMS (US), Eusoft (Italy), Horizon LIMS (US), and Promium (US).
No comments:
Post a Comment