Laboratory Information Management System Market Bags Worth US$ 1,355 Million Value Investment by 2023 and Extends at 12.6% Grwoth Rate

Report provides an overview of laboratory information management system 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.

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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.

Life Sciences Industry

1 Pharmaceutical and Biotechnology Companies

2 Contract Service Organizations

3 Biobanks & Biorepositories

4 Molecular Diagnostics & Clinical Research Laboratories

5 Academic Research Institutes

6 Ngs Laboratories

7 Toxicology Laboratories

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.

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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 Systèmes (France), Siemens (Germany), and Accelerated Technology Laboratories (US).

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

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.

More Information on “Laboratory Information Management System/LIMS Market by Type (Broad), Component (Software, Service), Deployment Model (On-premise, Remote, Cloud), Industry (CRO, CMO, Toxicology, Pharma, Biotech, Chemical, Agriculture, Oil, Gas) – Global Forecast to 2023” Report Now at https://www.reportsnreports.com/contacts/inquirybeforebuy.aspx?name=1571977 .

Study estimates laboratory information management system market size for 2018 & projects its demand till 2023. In primary research process, various sources from both demand side & supply side were interviewed to obtain qualitative and quantitative information for report. Primary sources from demand side include research scientists, specialists in laboratory information management system, laboratory technicians, and R&D professionals of various industries companies and academic research institutes.

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%