(EMAILWIRE.COM, December 29, 2018 ) Global laboratory information management system market is expected to reach USD 1,355.0 million by 2023 from USD 747.3 million in 2018, at a CAGR of 12.6%. Growth in market is driven by increasing use of LIMS to comply with stringent regulatory requirements, increasing focus on improving the efficiency of laboratories, technological advancements in LIMS offerings, increasing R&D expenditure in pharmaceutical and biotechnology companies, and growing adoption of cloud-based LIMS.
Complete Report on Laboratory Information
Management System Market spread across 185 Pages, Profiling 12 Companies and Supported with 160 Tables and 34 Figures is now available at http://www.prnewswire.com/news-releases/laboratory-information-management-system-market-to-grow-at-12-6-growth-rate-to-2023-857703898.html .
North America is expected to account for the largest share of the market followed by Europe. However, Asia is expected to register the highest CAGR during the forecast period. The high growth in the Asian market is attributed to factors such as increasing outsourcing activities in these countries due to the availability of low-cost and skilled labor and the increasing awareness and availability of LIMS.
Target Audience for this Report:
Laboratory information management system (LIMS) vendors
Healthcare IT service providers
Research and consulting firms
Pharmaceutical and biotechnology companies
Process industries
Venture capitalists
Government agencies
Academic research institutes
The laboratory information management system market is fragmented, with the presence of several large as well as emerging players. In 2017, LabWare (US), Thermo Fisher Scientific (US), Abbott Informatics (US), LabVantage Solutions (US), were the leading players in the LIMS market. Other major players include LabLynx (US), Autoscribe Informatics (US), Computing Solutions (US), GenoLogics (Canada), LABWORKS (US), Dassault Systmes (France), Siemens (Germany), and Accelerated Technology Laboratories (US).
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Laboratory Information Management System market is segmented into services and software. The services segment is expected to register the highest CAGR during the forecast period. The large share of the services segment can be attributed to the recurring requirement of services such as training, software upgrading, and software maintenance post-installation.
LIMS market for the life sciences industry is segmented into pharmaceutical and biotechnology companies, bio banks and bio repositories, CROs & CMOs, molecular diagnostics (MDx) & clinical research laboratories, academic research institutes toxicology laboratories, NGS laboratories, and forensic laboratories. The pharmaceutical and biotechnology companies segment is expected to account for the largest share of the life sciences market by type in 2018.
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Report provides an overview of LIMS market.It aims at estimating the market size and future growth potential of this market across different segments such as type, component, deployment model, industry,and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in market along with their company profiles, recent developments, and key market strategies.
The primary interviews conducted for this report can be categorized as follows:
By Company Type: Tier 1 36%; Tier 2 -46%; Tier 3 – 18%.
By Designation: C-level- 29%; D-level- 43%; Others- 28%.
By Region: North America-39%; Europe-29%;Asia-20%; Rest of the World- 12%
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