Product Overview

Laboratory Information Management System (LIMS) is a laboratory and information management system based on software with features that support the activities of a modern laboratory. Key features include support for data monitoring, versatile architecture, and interfaces for data sharing that completely support its use in controlled environments. The characteristics and uses of a LIMS have developed from basic sample control to an enterprise resource planning method that handles various aspects of laboratory computer science.

Market Highlights

Laboratory Information Management System (LIMS) Market is expected to project a notable CAGR of 11.8% in 2030.

Laboratory Information Management System (LIMS) Market to surpass USD 2.4 billion by 2030 from USD 850 Million in 2019 at a CAGR of 11.8% throughout the forecast period, i.e., 2020-30. The demand for laboratory information management systems is due to a rising emphasis on improving laboratory performance. The increasing demand for technology in biobanks and biorepositories has significantly contributed to the growth of the market. Technological progress in the production of software has also improved the market. Moreover, the market has been fueled by growing investments in R&D investments in the pharmaceutical and biotechnological industries.

Laboratory Information Management System (LIMS) Market: Segments

Services segment to grow with the highest CAGR during 2020-30

Laboratory Information Management System (LIMS) Market is segmented by Component into Software and Services. The services-based segment led the market in 2019 by accounting for XX.X% of the market share in Laboratory Information Management System owing to the increasing need for LIMS implementation, integration, maintenance, validation, and support. Additionally, the segment is also expected to register a higher CAGR during the forecast era thus retaining its dominance in the LIMS market over the coming years. Besides, the growing demand for outsourcing solutions for LIMS is also complementing the segment's growth. Due to progress in software systems from SaaS to more advanced PaaS, CaaS, and community networks, the software segment is likely to show steady growth during the same time.

High Voltage segment to grow with the highest CAGR during 2020-30

Laboratory Information Management System (LIMS) Market is segmented by product as cloud-based, web-hosted, and on-premise. The cloud-based product segment held accounted for the largest share in the market in terms of revenue in 2019. With the cloud-based setup, data can be accessed from multiple sites, multiple platforms, and multiple branches and these are the primary factors supporting the supremacy of the segment over the forecast horizon. Besides, some other factors contributing to the growth of the segment are reduced IT manpower, cost-effective data storage, and easy deployability. Besides, it is projected that cloud-based laboratory information management systems would report the highest CAGR during the same period.

Laboratory Information Management System (LIMS) Market: Market Dynamics

Drivers

Technological Advancements in LIMS Offerings

Growth of emerging technologies and rapid developments in healthcare information technology (IT) helps businesses pursuing healthcare information technology to unlock their potential. The Laboratory Information Management System (LIMS) has become an important instrument for moving data away from the office and into the workplace, processing, making decisions, measuring, updating, and releasing the operation. To preserve accuracy and robust functionality related to bio research, in vitro ADME studies, and discovery R&D and QA/QC R&D, laboratories have implemented advanced technologies.

Rising Demand for Biobanking

Factors responsible for the growth of the market for the Laboratory Information Management System (LIMS) include the demand for bio-banking, a growing emphasis on laboratory improvisation, and technical developments in LIMS offerings. Owing to the number of life-threatening diseases, there has been an explosive increase in the number of samples produced for research and analysis purposes. In the context of clinical trials, cohort projects, different biological studies, genomic studies, and specific protocols, the LIMS helps biobanks to manage and monitor the samples produced. Furthermore, the LIMS also plays a key role in advancing the results with the supply of biospecimens concerned to end-users, such as hospitals and clinics.

Restrain

Rising Data Security and Privacy Concerns

Shortage of trained professionals to handle advanced technologies is a major bottleneck for the global LIMS industry, including key restrictions. Such a management framework, however, requires high installation costs and maintenance costs and thus serves as a major market constraint. The lack of integration requirements may also affect the growth of the market.

Laboratory Information Management System (LIMS) Market: Key Players

Abbott Laboratories

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, and SWOT Analysis.

LabVantage

LabWare

McKesson Corporation

Thermo Fisher Scientific

LabLynx

Computing Solutions

Labworks LLC

Siemens Healthineers AG

Dassault Systemes

Laboratory Information Management System (LIMS) Market: Regions

Laboratory Information Management System (LIMS) Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC, and MENA.

Laboratory Information Management System (LIMS) Market in North America held the largest market share of 44.7% in the year 2019 and it is expected to continue its market dominance in the future owing to supportive policies facilitating laboratory automation adoption such as EHR programs. Moreover, the presence of advanced infrastructure, surging demand for genomic studies, and growing government funding are augmenting the regional sector. Due to the growing number of LIMS providing CROs in this area, the demand for laboratory information management systems in Asia Pacific is expected to exhibit the highest CAGR during the forecast period.

Competitive Landscape:

Laboratory Information Management System (LIMS) market, which is highly competitive, consists of several major players such as LabWare (US), LabVantage Solutions (US), and Thermo Fisher Scientific (US) hold a substantial market share in the Laboratory Information Management System (LIMS) market. Other players analyzed in this report are Abbott Informatics (US), LabLynx (US), Autoscribe Informatics (US), Agilent Technologies (US), Computing Solutions (US), GenoLogics (Canada), LAB WORKS (US), Dassault Systèmes (France), Siemens (Germany), Accelerated Technology Laboratories (US), ApolloLIMS (US), Ovation (US), Novatek International (Canada), CloudLIMS (US), Eusoft (Italy), Horizon LIMS (US), and Premium (US) among others.

The market competition has been stepped up by the availability of many players offering Laboratory Information Management System (LIMS). For Instance, In February 2020, LabVantage announced the addition of a fully integrated scientific data management system to its LIMS Platform.

Laboratory Information Management System (LIMS) Market is further segmented by region into:

North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada

Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America

Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe

APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC

MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Laboratory Information Management System (LIMS) Market report also contains analysis on:

Laboratory Information Management System (LIMS) Market Segments:

By Component:

Software

Services

By Product:

On-Premise

Web-hosted

Cloud-based

By End-User:

Life Sciences

CROs

Petrochemical Refineries & Oil and Gas Industry

Chemical Industry

Food and Beverage and Agriculture Industries

Environmental Testing Laboratories

Others

Laboratory Information Management System (LIMS) Market Dynamics

Laboratory Information Management System (LIMS) Market Size

Supply & Demand

Current Trends/Issues/Challenges

Competition & Companies Involved in the Market

Value Chain of the Market

Market Drivers and Restraints

FAQs on Laboratory Information Management System (LIMS) Market

Which segment is anticipated to hold the largest market share

At what CAGR is the market anticipated to grow between 2020 and 2030

Who are the key players in the Laboratory Information Management System (LIMS) Market

What could be the challenging factors in the growth of the Laboratory Information Management System (LIMS) Market

What are the growth drivers for the Laboratory Information Management System (LIMS) Market

Contents

1. Executive Summary

2. Laboratory Information Management System (LIMS) Market

2.1. Product Overview

2.2. Market Definition

2.3. Segmentation

2.4. Assumptions and Acronyms

3. Research Methodology

3.1. Research Objectives

3.2. Primary Research

3.3. Secondary Research

3.4. Forecast Model

3.5. Market Size Estimation

4. Average Pricing Analysis

5. Macro-Economic Indicators

6. Market Dynamics

6.1. Growth Drivers

6.2. Restraints

6.3. Opportunity

6.4. Trends

7. Correlation & Regression Analysis

7.1. Correlation Matrix

7.2. Regression Matrix

8. Recent Development, Policies & Regulatory Landscape

9. Risk Analysis

9.1. Demand Risk Analysis

9.2. Supply Risk Analysis

10. Laboratory Information Management System (LIMS) Analysis

10.1. Porters Five Forces

10.1.1. Threat of New Entrants

10.1.2. Bargaining Power of Suppliers

10.1.3. Threat of Substitutes

10.1.4. Rivalry

10.2. PEST Analysis

10.2.1. Political

10.2.2. Economic

10.2.3. Social

10.2.4. Technological

11. Laboratory Information Management System (LIMS) Market

11.1. Market Size & forecast, 2019A-2030F

11.1.1. By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

11.1.2. By Volume (Million Units) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12. Laboratory Information Management System (LIMS): Market Segmentation

12.1. By Regions

12.1.1. North America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.2. Europe:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.3. Asia-Pacific:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.4. MEA:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.1.5. Latin America:

• By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2. By Component: Market Share (2020-2030F)

12.2.1. Software, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.2.2. Services, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3 By Product: Market Share (2020-2030F)

12.3.1. On-Premise, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.2. Web-hosted, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.3.3. Cloud-based, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4 By End-User: Market Share (2020-2030F)

12.4.1. Life Sciences, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.2. CROs, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.3. Petrochemical Refineries & Oil and Gas Industry, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.4. Chemical Industry, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.5. Food and Beverage and Agriculture Industries, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.6. Environmental Testing Laboratories, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

12.4.7. Others, By Value (USD Million) 2019-2030F; Y-o-Y Growth (%) 2020-2030F

13. Company Profile

13.1.1. Abbott Laboratories

13.1.2. Company Overview

13.1.3. Company Total Revenue (Financials)

13.1.4. Market Potential

13.1.5. Global Presence

13.1.6. Key Performance Indicators

13.1.7. SWOT Analysis

13.1.8. Product Launch

13.2. LabVantage

13.3. LabWare

13.4. McKesson Corporation

13.5. Thermo Fisher Scientific

13.6. LabLynx

13.7. Computing Solutions

13.8. Labworks LLC

13.9. Siemens Healthineers AG

13.10. Dassault Systemes

14 Consultant Recommendation

**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.

Methodology/Research Approach

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Research Programs/Design

Historical Data (2015-2019)	Industry Trends Competitive Landscape By Company Expansion Mergers and Acquisitions Market Segment by Type by Application By Regions/ Geography	Value Status and Outlook Value for Major Players Market Share Growth Rate Present Situation Analysis Value Market Share Growth Rate Present Situation Analysis
Influencing Factors	Market Environment Government Policy Technological Changes Market Risks	Market Drivers Growing Demand of Downstream Reduction in Cost
Market Forecast (2021-2026)	Overall Size by Type by Application By Regions/Geography	Key Data (Value) Market Share Growth Rate CAGR (2021-2026)

Market Size Estimation

Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).

The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.

Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report

The following figure shows an illustrative representation of the overall market size estimation process used for this study.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.

Data Source

Secondary Sources

Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.

Market Size	Segmental value Geographic Penetration Product Adoption Rate for Different market	Journals, Websites, and Press Releases Annual Reports and SEC Filings Company Websites and Press Releases Public and Paid Databases Market Intellix Data Repository
Market Position of Top Company	Product Financials Geographic value Mix Total Company value Business/Segmental value Mix
Qualitative Analysis	Influence Factors Market Potential Market Risks and Opportunities Industry Trends Geographical Features Government Policies	Company Websites and Press Releases Public and Paid Databases Annual Reports Industry Associations Market Intellix Data Repository

Primary Sources

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.

Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.

Key Executives Interviewed

Key Data Information from Primary Sources

Primary Sources	Parameters	Key Data
Market Segments(by Application, by Type)	Value by Type Status and Forecast Value by Application Value by Regions, Status and Forecast (2021-2026)	Value Market Share by Type Value Growth Rate by Type Value by Application Percentage and Growth Rate by Application Value Growth Rate and Market Share by Regions Market Size Status and Forecast (2021-2026)
Total Market	Overall Size, Status and Forecast	Market Size Status and Forecast (2021-2026)