COVID-19 Impacts: Laboratory Information Management System (LIMS) Market will Accelerate at a CAGR of over 9% through 2020-2024 | Growing Demand for Bio-banking to Boost Growth | Technavio

Technavio has been monitoring the laboratory information management system (LIMS) market and it is poised to grow by USD 705.85 million during 2020-2024, progressing at a CAGR of over 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Free Sample Report on COVID-19 Impact

Frequently Asked Questions-

• What was the value of the laboratory information management system (LIMS) market in 2019?

• Technavio says that the value of the market was USD 1,253.67 million in 2019 and is projected to reach USD 1,959.52 million by 2024.

• At what rate is the market projected to grow during the forecast period 2020-2024?

• Growing at a CAGR of over 9%, the market growth will accelerate during the forecast period.

• What is the key factor driving the market?

• Growing demand for bio-banking and the emergence of SaaS-based LIMS are the key factors driving the market growth.

• Who are the top players in the market?

• Abbott Laboratories, Autoscribe Informatics, Computing Solutions Inc., Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc. are some of the major market participants.

• Which region is expected to hold the highest market share?

• North America

• What is the year-over-year growth rate of the global market?

• The year-over-year growth rate for 2020 is estimated at 8.35%.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Abbott Laboratories, Autoscribe Informatics, Computing Solutions Inc., Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Growing demand for bio-banking has been instrumental in driving the growth of the market.

Laboratory Information Management System (LIMS) Market 2020-2024: Segmentation

Laboratory Information Management System (LIMS) Market is segmented as below:

• Deployment
  • On-premise LIMS
  • Cloud-based LIMS
• Geographic Landscape
  • MEA
  • South America
  • APAC
  • Europe
  • North America

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Laboratory Information Management System (LIMS) Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our laboratory information management system (LIMS) market report covers the following areas:

• Laboratory Information Management System (LIMS) Market size
• Laboratory Information Management System (LIMS) Market trends
• Laboratory Information Management System (LIMS) Market analysis

This study identifies the emergence of SaaS-based LIMS as one of the prime reasons driving the laboratory information management system (LIMS) market growth during the next few years.

Laboratory Information Management System (LIMS) Market 2020-2024: Vendor Analysis

We provide a detailed analysis of vendors operating in the laboratory information management system (LIMS) market, including some of the vendors such as Abbott Laboratories, Autoscribe Informatics, Computing Solutions Inc., Illumina Inc., LabLynx Inc., LabVantage Solutions Inc., LabWare Inc., PerkinElmer Inc., Shimadzu Corp., and Thermo Fisher Scientific Inc. Backed with competitive intelligence and benchmarking, our research reports on the laboratory information management system (LIMS) market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Laboratory Information Management System (LIMS) Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist laboratory information management system (LIMS) market growth during the next five years
• Estimation of the laboratory information management system (LIMS) market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the laboratory information management system (LIMS) market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of laboratory information management system (LIMS) market vendors

Table of Contents:

Executive Summary

• Market Overview

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Deployment

• Market segments
• Comparison by Deployment placement
• On-premise LIMS - Market size and forecast 2019-2024
• Cloud-based LIMS - Market size and forecast 2019-2024
• Market opportunity by Deployment

Customer Landscape

• Overview

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• North America - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• APAC - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Drivers, Challenges, and Trends

• Market drivers
• Volume driver - Demand led growth
• Volume driver - Supply led growth
• Volume driver - External factors
• Volume driver - Demand shift in adjacent markets
• Price driver - Inflation
• Price driver - Shift from lower to higher-priced units
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Landscape disruption
• Vendor Analysis

Vendors covered

• Market positioning of vendors
• Abbott Laboratories
• Autoscribe Informatics
• Computing Solutions, Inc.
• Illumina Inc.
• LabLynx Inc.
• LabVantage Solutions Inc.
• LabWare Inc.
• PerkinElmer Inc.
• Shimadzu Corp.
• Thermo Fisher Scientific Inc.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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