Detailed analysis and forecast of the Laboratory Information Management Systems market by 2030
Laboratory Information Management Systems (LIMS) have evolved continuously due to the changing and evolving needs of laboratory infrastructure for clinical and research purposes. The information system (IS) used to manage laboratory workflows typically automates the testing process across the entire continuum. The continuum extends through the pre-analytical, analytical and post-analytical processes. The benefits are many: speeding up the overall process of generating results, increasing accuracy, involving lab workers, and meeting user customization needs.
Some of the main end-use applications of LIMS are in the life science industry, food and beverage testing, CROs, petrochemical refineries, chemicals, and forensics.
The study on LIMS Market shed light on growth dynamics, identify key segments, estimate shares and size of various segments using best data science tools and assess new consumer trends.
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Key trends in the laboratory information management systems market
The dynamism of the LIMS market stems from the growing trend towards laboratory automation around the world. The trend is accelerated by many proposals. The need for fast and accurate results is crucial for disease diagnosis and the staging, prognosis and assurance of good population health. Another equally robust reason for the need to automate LIMS is the reduction in workload and time to results. Another key factor may be the biohazard risks of the test samples.
The role of LIMS in real-time decisions is a key trend that strengthens the outlook for the LIMS market. Over the years, LIMS has proven to be beneficial for environmental monitoring and quality assurance.
Laboratory Information Management Systems Market: Competitive Dynamics and Key Developments
A growing number of players are eager to bring several levels of technology. Flexible interfaces and configurable functionality are key areas to unlock consistent consumer values. Over the years, the range of LIMS that can be easily integrated into laboratory workflows has been a key trend shaping the competitive landscape of the market. The advances made in genomics has brought relevant big data to the life sciences industry, opening up new avenues for new entrants to compete with incumbent players. LIMS helps centralize all of this data to ensure easy access and further analysis. The need to analyze downstream data analysis and adoption of new reagents and equipment by contract research organizations should pave the way for new avenues allowing players to consolidate their shares.
Some of the major players in the LIMS market are;
- Analytical Automation Specialists Inc.
- LabLynx, Inc.,
- Illumina, Inc.
- PerkinElmer Inc.
- Thermo Fisher Scientific
- LabVantage Solutions Inc.
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Laboratory Information Management System Market: Regional Assessment
Globally, North America has made a significant contribution in recent years. The widespread integration of EHR by healthcare providers and the advancement of software in data management are key trends that have propelled the rapid growth of the regional market. Asia-Pacific should be a very promising region. Revenue growth is fueled by increased investment in contract research organizations to meet the demands of end-use industries. The proliferation of demand for telehealth and e-health services in some emerging Asian economies is a key trend. Outsourcing of LIMS services to India and China has increased in recent years, and the trend has added a boost to the expansion of the market.
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