Laboratory Information Management Systems Market Size – USD 802.4 million in 2018, Laboratory Information Management Systems Market Growth - CAGR of 9.3%, Laboratory Information Management Systems Market Trends – Rising Implementation of Cloud-Based Laboratory Information Management Systems (LIMS)

New York, NY -- (SBWire) -- 05/06/2019 --Rising tendency to improve the proficiency of laboratories is likely to stimulate demand for Laboratory Information Management Systems (LIMS).

Laboratory Information Management Systems Market Size – USD 802.4 million in 2018, Laboratory Information Management Systems Market Growth - CAGR of 9.3%, Laboratory Information Management Systems Market Trends – Rising Implementation of Cloud-Based Laboratory Information Management Systems (LIMS)

The global Laboratory Information Management Systems (LIMS) market is expected to reach USD 1690.6 million by 2026, according to a new report by Reports and Data. A growing inclination to improve the efficacy of laboratories by implementing an information management system to support various operations in a laboratory by handling tasks such as tracking of data, providing a data exchange interface with a flexible architecture, etc. is forecasted to boost the market demand for Laboratory Information Management Systems (LIMS). Laboratory Information Management Systems (LIMS) helps in optimizing various laboratory operation to keep pace with diversified and strict demands of clients.

Key participants include Thermo Fisher Scientific, Abbott Informatics, Labware, Labvantage, Genologics Inc., Autoscribe Informatics, Lablynx, Labworks LLC, Computing solutions and Siemens.

Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1354

Strict regulatory norms set up by government to authenticate the data used in analysis by laboratories, for disaster management in laboratories, record archival, etc. are further expected to push the market for Laboratory Information Management Systems (LIMS).

With efforts being done to better the operational efficiency of the laboratories, the demand for Laboratory Information Management Systems (LIMS) is on a high along with a surge in the cost owing to technological advancement done to improve the functioning of the software. Thus arise in cost of deploying the Laboratory Information Management Systems (LIMS) may restrict the market growth.

The Asia pacific market is estimated to have the highest growth rate of CAGR 9.3% in the forecast period. An increase in trend to outsource laboratory services to curb the issues related to structural cost and sustainability especially in chemical, petroleum and pharmaceutical industries along with an increased funding in R&D sector id driving the market for Laboratory Information Management Systems (LIMS) in this region. Japan, one of the most developed countries in world, is forecasted to witness the highest rate of growth in the region during the forecast period.

Further key findings from the report suggest
- The services segment of Laboratory Information Management Systems (LIMS) is projected to experience the highest growth rate of CAGR 9.5% during the forecast period. This can be attributed to the repeated necessity of various services such as upgradation of software, providing training regarding the operations of software, and maintenance of the software after the installation of the Laboratory Information Management Systems (LIMS).
- Cloud-Based deployment of Laboratory Information Management Systems (LIMS) is estimated to have the highest growth rate of 9.4% during the forecast period. This growth is owing to various facilities such as affordability, reliability, ease of use with flexibility, data analysis report as per the need and convenience of the client, no fixed cost investment, etc. offered by cloud-based deployment.
- Industries involved in the research and testing of life sciences would occupy the largest market share in the market with a growth rate of CAGR 9.3%. This market dominance is due to an upswing in subcontracting by pharmaceutical companies, growing number of bio-banks and bio-repositories as well as the mounting R&D funding in various pharmaceutical and biotechnology companies.
- The market in North America is projected to grow at the rate of CAGR 9.2%. This region contributes to the largest market share owing to due to supportive and encouraging government initiatives, spiraling demand for research in the field of genome studies, and increasing funding in R&D to improve the efficiency of the laboratories.
- On March, 2017, Thermo Fisher Scientific announced the acquisition of Core Informatics, an information software company that specializes in cloud-based software solutions to handle scientific data management.

Order Now: https://www.reportsanddata.com/checkout-form/1354

Segments covered in the report:
For the purpose of this report, Reports and Data have segmented global Laboratory Information Management Systems (LIMS) market on the basis of type, component, deployment, industry vertical and region:

Type Outlook (Revenue, USD Million; 2018-2026)
- Industry-Specific
- Broad-Based

Component Outlook (Revenue, USD Million; 2018-2026)
- Software
- Service

Deployment Outlook (Revenue, USD Million; 2018-2026)
- On-Premise
- Cloud-Based

Industry Vertical Outlook (Revenue, USD Million; 2018-2026)
- Pharmaceutical & Biotechnology Industries
- Bio-banks & Bio-Repositories
- Clinical Research Laboratories
- Contract Service Organizations
- Academic Research Institutes
- Next-Generation Sequencing Laboratories
- Toxicology Laboratories
- Oil & Gas industry
- Food & Beverage Industry
- Agriculture Industry
- Chemical Industry
- Environmental Testing Laboratories
- Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
o U.S.
- Europe
o UK
o France
- Asia Pacific
o China
o India
o Japan
- MEA
- Latin America
o Brazil

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/laboratory-information-management-systems-lims-market

About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John Watson
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-800-819-3052
E-mail: sales@reportsanddata.com