The Asia Pacific Laboratory Information Management System Market would witness market growth of 7.5% CAGR during the forecast period (2021-2027). In labs, LIMS is considered as important equipment to ensure precise and timely reporting of the samples. These systems can help in automating various daily, weekly or monthly reporting tasks of the labs. Additionally, ad-hoc quick reports could be instantly run, enabling the lab workers to make informed real-time decisions. Through this system, readings can be directly recorded from the device and then fed into the systems to create reports with maximum accuracy.
The factors such as the lack of integration standards of LIMS and the huge cost of maintenance and service of LIMS are expected to hamper the growth of the global LIM system market. Along with that, some of the obstacles for the market growth are growing privacy and security concerns of LIMS and the complicated integrated systems. However, the growing advancements in technologies, application of LIMS in the cannabis sector and the huge market potential of unexplored markets will open new growth avenues for the laboratory information management system market during the forecast period.
The China market dominated the Asia Pacific Web-hosted Market by Country in 2020, thereby, achieving a market value of $25.3 Million by 2027, growing at a CAGR of 4.3 % during the forecast period. The India market is poised to grow at a CAGR of 7.6% during (2021 - 2027). Additionally, The Japan market is expected to witness a CAGR of 7.6% during (2021 - 2027).
Based on End-use, the market is segmented into CROs, Petrochemical Refineries & Oil and Gas Industry, Life Sciences, Chemical Sector, Food and Beverage and Agriculture Sector, Environmental Testing Laboratories, and Other sectors. Based on Component, the market is segmented into Services and Software. Based on Product, the market is segmented into Cloud-based, Web-hosted, and On-premise. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Laboratory Information Management System Market is Projected to reach USD 1.3 Billion by 2027, at a CAGR of 6.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Abbott Laboratories, Siemens AG, LabWare, Inc., LabVantage Solutions, Inc. (TCG Lifesciences), LabLynx, Inc., Autoscribe Informatics, Inc., Labworks LLC, Accelerated Technology Laboratories, Inc., and Illumina, Inc.
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