Global (LIMS) Laboratory Information Management System Market Size, Trends and Insights By Product (Web hosted, Cloud based, On premise), By End User (Life sciences, Petrochemical refineries, Food and beverages, Chemical industry, Agricultural industry, CRO, Environmental testing laboratory, Other industries), By Component (Software, Services), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- LabVantage Solutions Inc.
- LabWare
- Thermo Fisher Scientific
- Siemens
- Others
Reports Description
According to Custom Market Insights (CMI), The Laboratory Information Management System Market was estimated at USD 2,198 million in 2021 and is expected to reach USD 2,478 million in 2022 and is expected to hit around USD 3,712 million by 2030, poised to grow at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.
The increasing demand for laboratory information management systems worldwide has emerged as a major driving force for the market’s growth, which is expected to continue similarly in the future and hence support the market’s growth tremendously. The recent technologies launched into the market for laboratory information management comply with the required strict regulations and rules; hence, the demand has been boosted to a great extent.
The total manufacturing cost of any product has benefits to a great extent when the handling and processing cost is managed sufficiently. Numerous manufacturers worldwide choose underdeveloped and developing nations’ over-developed sectors as they impose fewer rules and regulations on the manufacturing process, which helps the key market players manage the total cost of production. Many manufacturers have shifted to Asian countries, which have imposed additional pressure on the developed nations.
The COVID pandemic outbreak significantly impacted the market’s growth due to its major effect on the respiratory system, which required laboratory diagnosis for confirmation. The market for laboratories reached new heights after the pandemic outbreak, which created a huge amount of data that needed to be managed and processed. This task was performed with the help of a laboratory information management system.
Growth Factors
Increasing research and development programs by the key market players to introduce better laboratory information management techniques has helped the market record tremendous revenue. Rapid technological advancements that the laboratory information managing system has made have helped boost the demand for such technologies among major companies worldwide.
The development of cloud-based laboratory information management systems has emerged as a major driving force for the market as it has provided a cheaper option for storing data and information by saving a huge amount of space. The huge demand for integration and management of laboratory data received worldwide plays a major role in increasing the demand for laboratory information management systems. As the population worldwide is rapidly increasing, the requirement for laboratory tests and healthcare records is also increasing, which needs to be managed and arranged so that it is easily available and can be referred to when required. This process can be managed with the help of a laboratory information management system.
The advanced technologies used in the laboratory information management system help to make a configuration compatible with the stringent regulations and rules imposed by the government. The maintenance cost of laboratory information management systems is quite high, which increases the total cost of the final products and solutions.
The cost of any software that manages the laboratory information system is very low compared to the total expenditure that must be made for maintaining the software that has to be used for the purpose. This proves to be a major factor that challenges the market’s growth during the forecast period. To manage the functioning of laboratory information management systems, it is essential to have skilled professionals who know the perfect functioning of the software and can deal with the glitches that might arise during the processing and managing of the data and information.
The presence of a skilled professional during the processing of data or information becomes extremely important as any technical glitch that arises during the process might lead to the loss of a huge amount of information if not dealt with properly. Such a huge loss emerges as a major challenge in front of the market. Any professional who is hired to manage software needs proper training and guidance, which makes the person a skilled individual, and the total cost of training a professional to make them skilled in handling a particular software or laboratory information management system imposes an additional cost on the key market players which emerges as another major challenge for the growth of the market during the forecast period.
Segmental Insights
Segmentation of the laboratory information management system market based on Component
Based on components, the segment of services has emerged as the largest segment due to its considerable contribution to the system’s growth. The increasing requirement for laboratory information management systems worldwide is helping the market record considerable revenue over the period.
The need to maintain an integrated arrangement of data and information obtained from the laboratory system has increased the demand and supply of laboratory information management systems in the market. Well equipped laboratory information management system supports the sector by maintaining its records in an organized manner by sorting the necessary data from the unnecessary information, which turns out to be a very useful arrangement for managing data. The validation of the entire process takes place with the help of artificial intelligence, which arranges the information according to the requirement of the business strategy.
A proper laboratory information management system helps support the system by providing a proper arrangement of the data and information received by the laboratory management system. The trend of outsourcing various functions of a business has greatly boosted the market for solutions, which has helped the laboratory information management system record considerable revenue over the period. The software system has also shown tremendous growth due to the rapid advancements that have taken place in the technical field. Advanced software systems have helped businesses maintain their records digitally and hence can be managed within a smaller space available.
Segmentation of the laboratory information management system market based on Product
Based on Product, the segment of the cloud-based Product has emerged as the largest segment due to the increasing demand for this technology. This segment has accounted for the tremendous market growth due to the increasing demand it has experienced from the recent business strategies.
A cloud-based setup has enabled businesses to have multiple access options to their data and information with the help of technology. Various multiple platforms are provided by the modern technological system that provides access to the stored data and information. Multiple sites have been set up on the Internet, which can guide the business through the required data and information. Multiple branches are connected to the main server, which contains the required data or information provided when searching for it on the Internet.
A cloud-based system helps businesses store huge amounts of data on the Internet without worrying about space and accessibility, which is very profitable for big companies. Using a cloud-based system helps major organizations reduce the total expenditure on human intelligence, which has become very costly as per today’s market trend. The system of storing the information in the Cloud helps to save a huge amount of space which can be utilized for other productive purposes by the organization. This on-premise segment has also shown considerable growth as it provides better accessibility to the major companies during a technical glitch or failure.
Segmentation of laboratory information management system market based on End User
Based on end users, the segment of life sciences has emerged as the largest market resulting from the huge adoption which has taken place regarding laboratory information management systems in the pharmaceutical sector. A shortage of skilled professionals in the pharmaceutical sector has led to the increasing demand for laboratory information management systems that have a higher capability of managing and organizing the information and data received from all over the world.
The productivity produced with the help of a laboratory information management system is far more profitable than the manual method, which acquires a greater expense on the workforce. As a result, the entire system has proved to be cost-effective for the manufacturers, and the demand is foreseen to increase in the future. Huge demand for biobanks has been expressed by the market, which has also emerged as a major driving force for the growth of the laboratory information management system market.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 2,198 million |
| Projected Market Size in 2030 | USD 3,712 million |
| CAGR Growth Rate | 7.5% CAGR (2022-2030) |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Prominent Players | LabVantage Solutions Inc., LabWare, Thermo Fisher Scientific, Siemens, PerkinElmer Inc., Abbott Laboratories, Labworks, LabLynx Inc., Autoscribe Informatics, Illumina Inc., Computing Solutions Inc., CloudLIMS.com, AssayNet, Ovation, LABTRACK, and Others |
| Key Segment | By Product (Web-hosted, Cloud-based, On-premise), By End User (Life sciences, Petrochemical refineries, Food and beverages, Chemical industry, Agricultural industry, CRO, Environmental testing laboratory, Other industries), By Component (Software, Services), and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
Based on geography, the region of North America has emerged as the major market for laboratory information management systems due to the increasing demand for digital data and information management among the key market players. An increasing amount of data accumulated over the years needs to be sorted and managed according to preferences set by the company’s strategies.
The level of organization required for the information collected by the laboratories has demanded advanced technologies and processes which will provide access to the required information from multiple sources. The other regions that have contributed significantly to the laboratory information management system market include the European nations, which have also shown tremendous growth in technology.
A higher earnings ratio is expected out of the Asia Pacific region due to the huge population residing in this area; hence, an extensive amount of data is available with the system, which needs to be managed and organized accordingly. The increasing number of healthcare sectors in this region has also been a major growth factor for the laboratory information management system market, which is expected to grow further similarly due to the increasing demand for these advanced technologies.
Recent Development
- In July 2020 – lab vantage introduced 8.5, the upgraded version. The upgraded version offers SDMS that is fully integrated.
Key Players
- LabVantage Solutions Inc.
- LabWare
- Thermo Fisher Scientific
- Siemens
- PerkinElmer Inc.
- Abbott Laboratories
- Labworks
- LabLynx, Inc.
- Autoscribe Informatics
- Illumina, Inc.
- Computing Solutions, Inc.
- com
- AssayNet
- Ovation
- LABTRACK
Segments covered in the report
By Product
- Web hosted
- Cloud based
- On premise
By End User
- Life sciences
- Petrochemical refineries
- Food and beverages
- Chemical industry
- Agricultural industry
- CRO
- Environmental testing laboratory
- Other industries
By Component
- Software
- Services
By Geography
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market research methodology
- Chapter 2. Executive Summary
- 2.1 Global Laboratory Information Management System Market, (2022 – 2030) (USD Million)
- 2.2 Global Laboratory Information Management System Market : snapshot
- Chapter 3. Global Laboratory Information Management System Market – Industry Analysis
- 3.1 Laboratory Information Management System Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 The Demand For Such Technologies Among Major Companies Worldwide
- 3.2.2 The Development Of Cloud-Based Laboratory Information Management Systems
- 3.2.3 Huge Demand For Integration And Management Of Laboratory Data Received Worldwide
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market attractiveness analysis By Product
- 3.7.2 Market attractiveness analysis By End User
- 3.7.3 Market attractiveness analysis By Component
- Chapter 4. Global Laboratory Information Management System Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Laboratory Information Management System Market: company market share, 2021
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Laboratory Information Management System Market – Product Analysis
- 5.1 Global Laboratory Information Management System Market overview: By Product
- 5.1.1 Global Laboratory Information Management System Market share, By Product, 2021 and 2030
- 5.2 Web hosted
- 5.2.1 Global Laboratory Information Management System Market by Web hosted, 2022 – 2030 (USD Million)
- 5.3 Cloud based
- 5.3.1 Global Laboratory Information Management System Market by Cloud based, 2022 – 2030 (USD Million)
- 5.4 On premise
- 5.4.1 Global Laboratory Information Management System Market by On premise, 2022 – 2030 (USD Million)
- 5.1 Global Laboratory Information Management System Market overview: By Product
- Chapter 6. Global Laboratory Information Management System Market – End User Analysis
- 6.1 Global Laboratory Information Management System Market overview: By End User
- 6.1.1 Global Laboratory Information Management System Market share, By End User, 2021 and 2030
- 6.2 Life sciences
- 6.2.1 Global Laboratory Information Management System Market by Life sciences, 2022 – 2030 (USD Million)
- 6.3 Petrochemical refineries
- 6.3.1 Global Laboratory Information Management System Market by Petrochemical refineries, 2022 – 2030 (USD Million)
- 6.4 Food and beverages
- 6.4.1 Global Laboratory Information Management System Market by Food and beverages, 2022 – 2030 (USD Million)
- 6.5 Chemical industry
- 6.5.1 Global Laboratory Information Management System Market by Chemical industry, 2022 – 2030 (USD Million)
- 6.6 Agricultural industry
- 6.6.1 Global Laboratory Information Management System Market by Agricultural industry, 2022 – 2030 (USD Million)
- 6.7 CRO
- 6.7.1 Global Laboratory Information Management System Market by CRO, 2022 – 2030 (USD Million)
- 6.8 Environmental testing laboratory
- 6.8.1 Global Laboratory Information Management System Market by Environmental testing laboratory, 2022 – 2030 (USD Million)
- 6.9 Other industries
- 6.9.1 Global Laboratory Information Management System Market by Other industries, 2022 – 2030 (USD Million)
- 6.1 Global Laboratory Information Management System Market overview: By End User
- Chapter 7. Global Laboratory Information Management System Market – Component Analysis
- 7.1 Global Laboratory Information Management System Market overview: By Component
- 7.1.1 Global Laboratory Information Management System Market share, By Component, 2021 and 2030
- 7.2 Software
- 7.2.1 Global Laboratory Information Management System Market by Software, 2022 – 2030 (USD Million)
- 7.3 Services
- 7.3.1 Global Laboratory Information Management System Market by Services, 2022 – 2030 (USD Million)
- 7.1 Global Laboratory Information Management System Market overview: By Component
- Chapter 8. Laboratory Information Management System Market – Regional Analysis
- 8.1 Global Laboratory Information Management System Market Regional Overview
- 8.2 Global Laboratory Information Management System Market Share, by Region, 2021 & 2030 (USD Million)
- 8.3. North America
- 8.3.1 North America Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.3.1.1 North America Laboratory Information Management System Market, by Country, 2022 – 2030 (USD Million)
- 8.3.1 North America Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.4 North America Laboratory Information Management System Market, by Product, 2022 – 2030
- 8.4.1 North America Laboratory Information Management System Market, by Product, 2022 – 2030 (USD Million)
- 8.5 North America Laboratory Information Management System Market, by End User, 2022 – 2030
- 8.5.1 North America Laboratory Information Management System Market, by End User, 2022 – 2030 (USD Million)
- 8.6 North America Laboratory Information Management System Market, by Component, 2022 – 2030
- 8.6.1 North America Laboratory Information Management System Market, by Component, 2022 – 2030 (USD Million)
- 8.7. Europe
- 8.7.1 Europe Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.7.1.1 Europe Laboratory Information Management System Market, by Country, 2022 – 2030 (USD Million)
- 8.7.1 Europe Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.8 Europe Laboratory Information Management System Market, by Product, 2022 – 2030
- 8.8.1 Europe Laboratory Information Management System Market, by Product, 2022 – 2030 (USD Million)
- 8.9 Europe Laboratory Information Management System Market, by End User, 2022 – 2030
- 8.9.1 Europe Laboratory Information Management System Market, by End User, 2022 – 2030 (USD Million)
- 8.10 Europe Laboratory Information Management System Market, by Component, 2022 – 2030
- 8.10.1 Europe Laboratory Information Management System Market, by Component, 2022 – 2030 (USD Million)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.11.1.1 Asia Pacific Laboratory Information Management System Market, by Country, 2022 – 2030 (USD Million)
- 8.11.1 Asia Pacific Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.12 Asia Pacific Laboratory Information Management System Market, by Product, 2022 – 2030
- 8.12.1 Asia Pacific Laboratory Information Management System Market, by Product, 2022 – 2030 (USD Million)
- 8.13 Asia Pacific Laboratory Information Management System Market, by End User, 2022 – 2030
- 8.13.1 Asia Pacific Laboratory Information Management System Market, by End User, 2022 – 2030 (USD Million)
- 8.14 Asia Pacific Laboratory Information Management System Market, by Component, 2022 – 2030
- 8.14.1 Asia Pacific Laboratory Information Management System Market, by Component, 2022 – 2030 (USD Million)
- 8.15. Latin America
- 8.15.1 Latin America Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.15.1.1 Latin America Laboratory Information Management System Market, by Country, 2022 – 2030 (USD Million)
- 8.15.1 Latin America Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.16 Latin America Laboratory Information Management System Market, by Product, 2022 – 2030
- 8.16.1 Latin America Laboratory Information Management System Market, by Product, 2022 – 2030 (USD Million)
- 8.17 Latin America Laboratory Information Management System Market, by End User, 2022 – 2030
- 8.17.1 Latin America Laboratory Information Management System Market, by End User, 2022 – 2030 (USD Million)
- 8.18 Latin America Laboratory Information Management System Market, by Component, 2022 – 2030
- 8.18.1 Latin America Laboratory Information Management System Market, by Component, 2022 – 2030 (USD Million)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.19.1.1 The Middle-East and Africa Laboratory Information Management System Market, by Country, 2022 – 2030 (USD Million)
- 8.19.1 The Middle-East and Africa Laboratory Information Management System Market, 2022 – 2030 (USD Million)
- 8.20 The Middle-East and Africa Laboratory Information Management System Market, by Product, 2022 – 2030
- 8.20.1 The Middle-East and Africa Laboratory Information Management System Market, by Product, 2022 – 2030 (USD Million)
- 8.21 The Middle-East and Africa Laboratory Information Management System Market, by End User, 2022 – 2030
- 8.21.1 The Middle-East and Africa Laboratory Information Management System Market, by End User, 2022 – 2030 (USD Million)
- 8.22 The Middle-East and Africa Laboratory Information Management System Market, by Component, 2022 – 2030
- 8.22.1 The Middle-East and Africa Laboratory Information Management System Market, by Component, 2022 – 2030 (USD Million)
- Chapter 9. Company Profiles
- 9.1 LabVantage Solutions Inc.
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 LabWare
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Thermo Fisher Scientific
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Siemens
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 PerkinElmer Inc.
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Abbott Laboratories
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Labworks
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 LabLynx Inc.
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Autoscribe Informatics
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 Illumina Inc.
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Computing Solutions Inc.
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 CloudLIMS.com
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 AssayNet
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Ovation
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 LABTRACK
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.1 LabVantage Solutions Inc.
List Of Figures
Figures No 1 to 29
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2030
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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FAQs
The global Laboratory Information Management System market was estimated at USD 2,198 million in 2021 and is expected to reach USD 2,478 million in 2022 and is expected to hit around USD 3,712 million by 2030.
The global Laboratory Information Management System market is expanding growth with a CAGR of approximately 7.5% during the forecast period (2022 to 2030).
The key players operating in the Laboratory Information Management System market are LabVantage Solutions Inc., LabWare, Thermo Fisher Scientific, Siemens, PerkinElmer Inc., Abbott Laboratories, Labworks, LabLynx Inc., Autoscribe Informatics, Illumina Inc., Computing Solutions Inc., CloudLIMS.com, AssayNet, Ovation, LABTRACK.
The key factors driving the market are software management, skilled professional.
“North America” region will lead the global Laboratory Information Management System market during the forecast period 2022 to 2030.