(PharmaNewsWire.Com, July 23, 2020 ) The global laboratory information management systems market is projected to reach USD 1.7 billion by 2025 from USD 1.0 billion in 2020, at a CAGR of 12.1%. The growth of this market can be attributed to the increasing use of LIMS to comply with stringent regulatory requirements, increasing focus on improving the efficiency of laboratories, increasing R&D expenditure in pharmaceutical and biotechnology companies, and the growing adoption of cloud-based LIMS.
In 2019, LabWare (US), LabVantage Solutions (US), and Thermo Fisher Scientific (US) were the leading players in the global LIMS market. The other major players operating in this market include Abbott Informatics (US), LabLynx (US), Autoscribe Informatics (US), Agilent Technologies (US), Computing Solutions (US), GenoLogics (Canada), LABWORKS (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 Promium (US).
LabWare (US) is one of the prominent players in the LIMS market. The leading position of the company can be attributed to its strong brand recognition and extensive product portfolio. The company provides scalable, end-to-end solutions to various industries, such as pharmaceutical, environmental testing, contract service, forensic, chemical/petrochemical process, public health, clinical research, food, and biobanking industries. The company focuses on launching technologically advanced products and upgrading its existing ones with the help of inputs from clients. LabWare designs products according to the functional needs of end users and offers industry-specific template solutions that serve as prepackaged initiation points for project implementation.
LabVantage Solutions (US), an innovation-centric company, constantly invests in developing and enhancing its products to understand and better serve its customers. The company focuses on organic growth strategies such as product launches and upgrades to develop its product portfolio as well as to strengthen its position in the market. In this regard, in February 2019, the company released a new version of LabVantage 8.4, a configurable, web-based LIMS solution. The company also strives to strengthen its market position by entering into partnerships. In this regard, the company extended its partnership with Lonza (Switzerland) to offer purpose-built environmental monitoring capabilities integrated with LIMS. This combined solution will provide the life sciences industry with a unified microbiology and analytical solution. Such partnerships and innovative product launches help the company to enhance its product portfolio and strengthen its distribution network.
Thermo Fisher Scientific (US) is one of the top players in the global LIMS market. In order to maintain its leading position, the company focuses on research and development activities. In the year 2019, the company invested USD 1 billion in research and development activities. The company has a major focus on organic as well as inorganic growth strategies such as expansions and acquisitions. For instance, in March 2016, the company acquired Core Informatics (Netherlands) to enhance its informatics solutions and cloud platform.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
