BRUSSELS, Belgium, March 07, 2022 (GLOBE NEWSWIRE) --
Summary:
Medi-Tech Insights: The global LIMS market is driven by growing regulatory compliance requirements, technological advancements, and benefits offered by LIMS to improve lab’s productivity and efficiency.
Description:
A LIMS is a data management software that helps labs in automating their workflows, keeping track of data (samples, instruments, QA/QC results), and data storage, processing and reporting. All these features are crucial to sustain and improve productivity and efficiency of any biological lab, from pharma, biotech, environmental facilities, F&B to biobanking.
Shift towards Cloud-based LIMS
With the growing need for data sharing across and between organizations, traditional on-premise LIMS face challenge to survive in a data-driven world. On-premise systems lack scalability and easy integration, are often time-consuming and costly to implement and manage. The LIMS industry is witnessing rise in the adoption of cloud-based model as it can address most of these issues with quick deployment, minimum upfront costs, high flexibility and scalability making it affordable for all laboratories.
Trending Subscription-based Pricing Models
Each pricing model has its own merits and demerits. Big companies with enough support staff and internal resources often prefer to buy a perpetual license. However, smaller companies/start-ups usually opt for cost-effective, pay as you go subscription and SaaS pricing model. For labs choosing to install LIMS on-premise or in the cloud, vendors are offering both perpetual as well as subscription licenses.
Growing demand for Purpose-built LIMS over Broad-based/Multi-purpose LIMS
“The LIMS market is moving from one-size-fits-all across industries approach towards purpose-built pre-configured LIMS that addresses different pain points of each industry such as pharma, biotech, F&B, oil & gas, biobanking, environmental testing, etc.” - VP, Sales & Marketing, Leading LIMS Company, US
US Leads the Adoption of Laboratory Information Management System market
North America commanded the largest share of the market, followed by Europe. This is mainly attributed to the strong economies of the US and top EU countries, established lab infrastructure, greater degree of automation and digital technologies, significant investments in new technologies, growth in biobanks, easy availability of LIMS products and services. While APAC has a minor share in this market currently, emerging countries in this region are expected to witness strong growth.
Competitive Landscape: Laboratory Information Management System market
The key players having a strong foothold in the global LIMS market include Abbott Informatics, Agilent Technologies, Autoscribe Informatics, AgileBio, ATL, Computing Solutions, Dassault Systèmes, Labworks, LabLynx, LabWare, LabVantage, Thermo Fisher Scientific.
Explore Detailed Insights on LIMS Market @ https://meditechinsights.com/laboratory-information-management-system-market/
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