Published Date: 26-May-2021
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According to a new report Global Laboratory Information Management System Market, published by KBV research, The Global Laboratory Information Management System Market size is expected to reach $1.3 billion by 2027, rising at a market growth of 6.1% CAGR during the forecast period.
The web-hosted market segment procured the second-highest revenue share of the laboratory information management system market because of its high adoption among the population. The on-premise market segment is anticipated to record a significant growth rate because it is more personalized and reliable than any other LIMS services.
On the basis of End-use, the life sciences segment held the largest revenue share in the laboratory information management system market in 2020. The increasing adoption of LIMS in pharmaceutical laboratories is responsible for this share. In addition to it, aspects like cost-effectiveness, absence of in-house qualified resources, more productivity and rising demand for biobanks & bio-repositories are projected to surge the growth of the segment.
Region-wise, North America emerged as the leading region in the laboratory information management system market with the highest revenues share in 2020. It is due to the supportive policies resulting in laboratory automation adoption like HER programs. Additionally, some more factors that are fueling the growth of the regional market are the rising demand for genomic studies, the presence of improved infrastructure, and increasing government funding in healthcare.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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