Laboratory Information Management System (LIMS) Market worth $2.1 billion by 2026 - Exclusive Report by MarketsandMarkets
CHICAGO, Sept. 22, 2021 /PRNewswire/ -- According to the new market research report "Laboratory Information Management System (LIMS) Market by Type (Broad), Component (Software, Service), Delivery (On premise, Cloud, SaaS, PaaS, IaaS), Industry (CRO, CMO, Pharma, Biotech, Chemical, Agriculture, FnB, Oil, Gas) - Global Forecasts to 2026", published by MarketsandMarkets, the global LIMS Market is projected to reach USD 2.1 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 13.2%.
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246 – Tables
35 – Figures
245 – Pages
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The Growth of this Laboratory Information Management System Market is attributed to the increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS.
The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
Coronavirus disease 2019 (COVID–19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS–CoV–2). Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. The state of urgency to combat the outbreak led pharma & biotech companies, researchers, various diagnostic labs, and testing facilities conducting COVID-19 research to adopt advanced technologies and solutions exceeding traditional avenues to improve workflows. Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps (such as test management, sample handling, inventory control, packaging, and shipment). Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. This is likely to increase the uptake of informatics solutions, such as LIMS, which enhance research and testing activities, along with efficient data management.