Market Insights:
Global LIMS market is expected to reach USD 1,155.67 million by 2025 from USD 650.70 million in 2017, at a CAGR of 7.7 % in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
The major factors contributing to the growth of the market includes factors such as growing use of LIMS to comply with stringent regulatory requirements, rising need for adoption of LIMS in various industries, technological advancements in LIMS services are boosting the growth of the global LIMS market.
The growing demand for bio-banking across the globe will drive the growth prospects for the global LIMS market until the end of 2025. Some of the major factors responsible for the growing preference of LIMS software solutions in bio-banking is to ensure the effective management and tracking of data quality, bio-species location, security, compliances, end-user billing, and patient demographics. Also, LIMS improves the sampling of data that involves different laboratories, FDA, and partner organizations, integrates the research information, and enables easy access to the LIMS database for analysis.
The emergence of software as a service (SaaS)-based LIMS will drive the growth prospects for the global LIMS market for the next four years. Some of the benefits associated with the installation of SaaS-based LIMS laboratory includes improved efficiency of the processes in research centers and laboratories and advantages over the traditional LIMS such as better flexibility and short implementation time.
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Top Industry Players:
The key market players for global LIMS market are listed below:
- Thermo Fisher Scientific
- Siemens AG
- Abbott
- McKesson Corporation
- Roper Technologies, Inc.
- IBM Corporation
- Illumina, Inc.
- Shimadzu Corporation
- LabWare
- LABWORKS
- The market is further segmented into:
- Component
- Product Type
- Delivery
- Industry Type
KEY BENEFITS
- An in-depth analysis of various regions would provide a clear understanding of current and future trends so that companies can make region specific plans
- Comprehensive analysis of the factors that drive and restrict the growth of the LIMS market is provided
- Key regulatory guidelines in various regions which impact the LIMS market are critically examined
- Deep dive analysis of various regions provides insights that would enable companies to plan their business moves strategically
- Value chain analysis in the report gives a clear understanding of the roles of the stakeholders involved in the supply chain of the LIMS market.
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Market Segments:
The global LIMS market is segmented on the basis of component into services and software. In 2018, service is expected to dominate the LIMS market with 67.1% market share and is expected to reach 795.49 million by 2025, growing at the highest CAGR of 8.1% in the forecast period 2018 to 2025.
The global LIMS market is segmented on the basis of product type into broad-based LIMS and industry-specific LIMS. In 2018, industry-specific is expected to dominate the LIMS market with 62.4% market share and is expected to reach 692.14 million by 2025, growing at a CAGR of 7.1% in the forecast period 2018 to 2025.
The global LIMS market is segmented on the basis of delivery into on-premise LIMS, cloud-based LIMS and remotely hosted LIMS. In 2018, on-premise LIMS is expected to dominate the LIMS market with 54.7% market share and is expected to reach 600.32 million by 2025, growing at a CAGR of 6.9% in the forecast period 2018 to 2025.
The global LIMS market is segmented on the basis of industry type into life sciences industry, food & beverage and agriculture industries, petrochemical refineries and the oil & gas industry, chemical industry and other industry. In 2018, life sciences industry is expected to dominate the LIMS market with 47.1% market share and is expected to reach 554.19 million by 2025, growing the at the highest CAGR of 8.0% in the forecast period 2018 to 2025. The life sciences industry is further segmented into pharmaceutical and biotechnology companies, contract service organizations, academic research institutes and molecular diagnostics (MDX) & clinical research laboratories.
The global LIMS market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Based on geography, the market is segmented into 5 geographical regions:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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