From GlobeNewswire: 2025-01-17 07:05:00

The Laboratory Information Management System (LIMS) Market was valued at USD 2.29 billion in 2023, projected to reach USD 4.61 billion by 2032 with a CAGR of 8.12%. Factors driving growth include streamlined workflows, cloud-based solutions, and regulatory compliance in pharmaceutical and biotech sectors.

In 2023, 70% of pharmaceutical companies and 65% of clinical research organizations adopted LIMS. Cloud-based LIMS adoption is forecasted to grow significantly from 2020-2032. Government laboratories allocated 40% of their budgets to LIMS implementation. The number of laboratories using LIMS is projected to grow from 35,000 in 2020 to over 75,000 by 2032.

Major players in the LIMS market include Thermo Fisher Scientific, Siemens, LabVantage Solutions, and LabWare. The market size was USD 2.29 billion in 2023, expected to reach USD 4.61 billion by 2032 with a CAGR of 8.12%. Key growth drivers include demand for automation, regulatory compliance, and cloud-based solutions.

The cloud-based LIMS segment led the market in 2023, accounting for 45% of the total market share. The web-hosted LIMS segment is growing rapidly. The services segment captured over 60% market share in 2023, while the software segment is the fastest-growing.

North America led the LIMS market in 2023, with Asia Pacific as the fastest-growing region and Europe showing steady growth. North America’s dominance is due to early adoption of advanced technologies, while Asia Pacific benefits from expanding healthcare infrastructure and rising R&D investments. Europe continues its growth supported by strict regulatory requirements. The demand for LIMS in the global market is driven by compliance and data accuracy needs. Recent collaborations include Sapio Sciences with Waters Corporation, LabVantage Solutions with Henkel AG & Co., Thermo Fisher Scientific’s Connect Edge launch, and Labguru’s partnership with Thermo Fisher to enhance research capabilities. Statistical insights and trends in LIMS implementation are detailed in a comprehensive report by SNS Insider, a leading market research and consulting agency. Various key points, including market dynamics impact analysis, regional trends, spending statistics, and competitive landscape, are covered in the report. For more details, access the full report on the Laboratory Information Management System (LIMS) Market Analysis & Outlook from SNS Insider’s website.



Read more at GlobeNewswire: Laboratory Information Management System (LIMS) Market Size