Laboratory Information Management System (LIMS) is a software based laboratory and information management system with features that support the operation of modern laboratory. Required specifications include flexible architecture, data tracking support and data exchange interfaces to support its use in regulated environments. The features and uses of LIMS have evolved from simple sample tracking to an enterprise resource planning tool that manages many aspects of laboratory informatics. LIMS is being rapidly implemented for Biobanking. These systems ensure security, end-user billing, patient demographics and security. They also enhance data sampling and research information integration, making data access more manageable. LIMS has found its applications in sample management, data mining, data analysis and electronic laboratory networks.
Global Laboratory Information Management System (LIMS) Market Overview
The increasing prevalence of chronic diseases is driving the growth of the global Laboratory Information Management System Market . Moreover, rising demand for laboratory automation and development of integrated LIS is also expected to propel the market growth. Moreover, the growing practice of genome and DNA studies is fueling the global market. Biotechnology has expanded rapidly through both private companies and academic research. Fundamental applications of this technology are in medicine (production of vaccines and antibiotics) and agriculture. In addition, knowledge of human sequence variation has begun to transform medical practice. This is set to come on the way for more applications for LIMS. In addition, cloud computing is gaining popularity among medium-sized and small businesses, allowing many businesses to access application software over high-speed Internet connections. These are expected to fuel the growth of the global LIMS market positively.
There are certain hurdles and constraints to be faced which will hinder the overall market growth. Factors like high maintenance and service cost and lack of integration standards for LIMS are limiting the growth of the market. Furthermore, privacy and security concerns of LIMS and complex integrated systems are potential constraints hindering the overall growth of the global Laboratory Information Management System (LIMS) market. Nevertheless, advances in technologies, the use of LIMS in the cannabis industry, and untapped potential in emerging markets provide favorable growth opportunities.
Laboratory Information Management System analysis report by Fact.MR shows that global revenue of Laboratory Information Management System in 2021 was held at US$ 1.8 Bn. With 8.1%, the projected market growth during 2022 – 2032 is expected to be significantly higher than the historical growth.
Key Points Covered in Laboratory Information Management System Survey:
- Market Estimates and Forecasts (2017-2032)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Laboratory Information Management System and How to Navigate
- Recommendation on Key Winning Strategies
For more information about this report https://www.factmr.com/report/laboratory-information-management-system-market
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