The Europe Laboratory Information Management System Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027). The demand for the laboratory information management system (LIMS) is expected to boost due to the growing technological improvements pertinent to pharmaceutical laboratories and the increasing demand for lab automation.
Additionally, the growing advancements in R&D labs, specifically in pharmaceutical and biotechnological laboratories are anticipated to positively impact the growth of the laboratory information management system market. Moreover, the market would witness bright prospects due to the factors like effective time management, reduced implementation cost, compliance with GDP, GCP, and GMP.
The Laboratory information management system is mainly deployed for Sample Management in order to maintain precise records of every sample. When the sample is collected or arrived at the lab, detailed information is recorded that improved and extended during its lifecycle. This usually consists of the source of the sample, the names of the lab researchers who are working on it and the components of the workflow it has passed through. It also consists of data like storage process and its expiration dates. By installing a LIMS to maintain this data would minimize the risk of a sample being lost, contaminated, or expired.
It is important to monitor inventory as a part of daily lab management. The laboratory information management system helps in automating this whole process and confirms that inventories are ordered in advance as per the needs. It further helps in keeping the lab workflow moving and preventing any kind of delays or issues due to the absence of stocks.
The Germany market dominated the Europe Software Market by Country in 2020, thereby, achieving a market value of $31.5 Million by 2027. The UK market is exhibiting a CAGR of 3.8% during (2021 - 2027). Additionally, The France market is showcasing a CAGR of 6.2% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Laboratory Information Management System Market Size will Hit $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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