The Latest Laboratory Information Systems Industry Statistics Explained
The global Laboratory Information Management Systems (LIMS) market size was valued at USD 1.2 billion in 2020.
The statistic indicates that the global Laboratory Information Management Systems (LIMS) market was estimated to be worth USD 1.2 billion in the year 2020. This figure represents the total revenue generated by the sales of LIMS software and related services worldwide during that year. LIMS is a software solution used by laboratories to manage and track samples, testing results, and laboratory workflows efficiently. The market size of USD 1.2 billion signifies the scale and importance of LIMS in the global laboratory industry, reflecting the demand for digital tools to enhance laboratory operations, data management, and compliance with regulatory standards.
The market is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2021 to 2028.
This statistic indicates that the market is projected to grow consistently over the period from 2021 to 2028 at a compound annual growth rate (CAGR) of 5.8%. The CAGR takes into account the compounding effect of growth over multiple years and provides a smooth annualized rate of growth. A CAGR of 5.8% suggests that the market is expected to steadily increase in size year over year during the specified timeframe. This growth rate can be used by investors, businesses, and policymakers to make informed decisions regarding investments, resource allocation, and market strategies in anticipation of the expanding market opportunities.
North America held the largest share of 41.0% of the Laboratory Information Management Systems market in 2020.
The statistic indicates that North America accounted for the largest portion, which was 41.0%, of the global Laboratory Information Management Systems market in the year 2020. This suggests that North America had a dominant position in the market compared to other regions such as Europe, Asia Pacific, and Latin America. The high market share of North America highlights the significance of the region in terms of LIMS adoption and usage, potentially driven by factors such as advanced technology infrastructure, large number of research laboratories, and increasing demand for efficient data management solutions in the region.
The Asia Pacific market is anticipated to witness the fastest growth over the forecast period with a CAGR of 7.2% from 2021 to 2028.
This statistic indicates that the Asia Pacific market is expected to experience significant growth between 2021 and 2028, with a Compound Annual Growth Rate (CAGR) of 7.2%. The CAGR reflects the average annual growth rate of the market over the forecast period. A CAGR of 7.2% suggests a robust growth trajectory for the Asia Pacific market, outpacing other regions. This forecast could be driven by factors such as increasing investments, expanding technological advancements, growing consumer demand, and favorable government policies in the region. Businesses operating in the Asia Pacific market should take note of this anticipated growth trend and strategize accordingly to capitalize on the opportunities presented by this thriving market.
Large enterprises accounted for the largest revenue share of over 60.0% in 2020.
This statistic indicates that in the year 2020, large enterprises generated the most revenue compared to other types of businesses, accounting for over 60.0% of the total revenue. Large enterprises typically have a significant market presence, extensive resources, and a wide customer base, allowing them to generate higher revenues compared to small or medium-sized businesses. The dominance of large enterprises in revenue generation suggests that they play a crucial role in the economy and have a substantial impact on overall market performance. This statistic highlights the importance of large enterprises in driving the economy and influencing market trends in 2020.
As per Zion Market Research, the global LIMS (Laboratory Information Management System) market was valued at about USD 748.3 million in 2018.
The statistic provided states that the global Laboratory Information Management System (LIMS) market was valued at approximately USD 748.3 million in 2018 according to Zion Market Research. This indicates the total monetary worth of sales and transactions related to LIMS software and services worldwide during that particular year. The value suggests a significant market size and demand for LIMS technologies within the laboratory industry. Understanding the market value serves to provide insights into industry trends, competitive landscape, and potential growth opportunities for businesses operating within the LIMS sector.
The global LIMS market is expected to reach around USD 1,636 million by 2025, at a CAGR slightly above 8.3% between 2019 and 2025.
This statistic is referring to the projected growth of the Laboratory Information Management System (LIMS) market globally. It states that the market is anticipated to achieve a valuation of approximately USD 1,636 million by the year 2025. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) slightly above 8.3% over the period spanning from 2019 to 2025. The CAGR reflects the steady annual growth rate that the market is forecasted to experience during this timeframe. This statistic indicates a positive outlook for the LIMS market, suggesting increasing adoption and demand for these systems within various industries such as healthcare, pharmaceuticals, research, and more, leading to the market’s significant expansion in the coming years.
The on-premise deployment model held a significant share of the Laboratory Information System (LIS) market in 2019.
In 2019, the on-premise deployment model was a dominant force in the Laboratory Information System (LIS) market, capturing a substantial portion of market share. This statistic indicates that a significant number of healthcare organizations and laboratories chose to host their LIS software and systems on their own premises rather than utilizing cloud-based or hosted solutions. The preference for on-premise deployment could be attributed to factors such as data security concerns, compliance requirements, customization needs, or legacy infrastructure limitations. Overall, the widespread adoption of the on-premise deployment model underscores its importance and popularity within the LIS market landscape in 2019.
The United States Laboratory Information System (LIS) market was valued at 1 billion USD in 2019.
The statistic that the United States Laboratory Information System (LIS) market was valued at 1 billion USD in 2019 indicates the total monetary worth of the market for LIS software and services within the United States during that year. This value reflects the economic significance of LIS technology within the U.S. healthcare industry, which is essential for managing laboratory operations, improving efficiency, and ensuring accurate diagnostic results. The valuation suggests a sizable market opportunity for providers of LIS solutions, highlighting the industry’s growth potential and the increasing adoption of advanced technology in healthcare settings.
Based on component type, the services segment accounted for the largest share of the Laboratory Information System (LIS) market in 2019.
The statistic indicates that in 2019, the services segment had the highest market share in the Laboratory Information System (LIS) industry based on the type of components. This implies that services such as consulting, implementation, training, and support played a significant role in the overall market dynamics of LIS systems. Companies in the LIS market may have been focusing on providing high-quality services to attract and retain customers, leading to the services segment dominating the market share. This trend suggests that the service component is crucial for the success and growth of the LIS industry, highlighting the importance of added value through service offerings in this sector.
The Laboratory Information Management System (LIMS) market is projected to display robust growth represented by a CAGR of 10% during 2020 – 2025.
The statistic stating that the Laboratory Information Management System (LIMS) market is projected to display robust growth with a Compound Annual Growth Rate (CAGR) of 10% during the period of 2020 to 2025 indicates that the industry is expected to experience significant expansion over the next five years. This growth rate suggests a steady acceleration in market size, indicating a positive trend in adoption and demand for LIMS software solutions within laboratory settings. The CAGR of 10% signifies that the market is predicted to increase at a consistent annual rate of 10%, reflecting the potential profitability and market opportunity for businesses operating within the LIMS sector.
According to Fortune Business Insights, the global Laboratory Information Systems (LIS) market size was USD 1.03 billion in 2020.
The statistic provided by Fortune Business Insights states that the global Laboratory Information Systems (LIS) market was valued at USD 1.03 billion in 2020. This figure represents the total revenue generated by the LIS market worldwide during that particular year. The market size indicates the scale and financial importance of the LIS industry, offering insights into the demand for laboratory information systems on a global scale. This information can help stakeholders and decision-makers in the healthcare and technology sectors understand the market’s growth potential, competitive landscape, and investment opportunities within the LIS industry.
The Laboratory Information Management System (LIMS) market in Europe is estimated to record a significant growth rate during the forecast period, owing to the presence of well-established healthcare infrastructure.
The statistic indicates that the Laboratory Information Management System (LIMS) market in Europe is poised to experience notable growth in the upcoming forecast period. This growth is attributed to the already robust and well-established healthcare infrastructure in Europe. The efficiency and effectiveness of LIMS in managing laboratory data and improving overall operational processes have led to an increasing adoption of these systems within the healthcare sector. The presence of sophisticated healthcare facilities and high standards of patient care in Europe further amplify the demand for LIMS, driving the projected growth of the market in the region.
The CAGR of the Laboratory Information Management System (LIMS) market is projected to be 4.9% between 2018 and 2023.
The Compound Annual Growth Rate (CAGR) of the Laboratory Information Management System (LIMS) market is forecasted to be 4.9% over the period from 2018 to 2023. This statistic indicates the average annual growth rate of the LIMS market during the specified timeframe. A CAGR of 4.9% suggests a steady and moderate growth trend in the market for LIMS solutions, which are software platforms used by laboratories to manage and track data, samples, and processes. This projection can be valuable for industry stakeholders, investors, and decision-makers to assess the market dynamics and plan strategies accordingly.
The Latin American and Middle East & Africa markets are expected to observe considerable growth in the Laboratory Information System (LIS) market owing to developing healthcare infrastructure.
This statistic suggests that the Latin American and Middle East & Africa regions are projected to experience significant expansion in the Laboratory Information System (LIS) market due to the improvement and advancement of healthcare infrastructure in these areas. The increasing focus on enhancing healthcare services and the modernization of healthcare facilities in these regions are anticipated to drive the demand for LIS solutions. As healthcare systems in Latin America and the Middle East & Africa continue to evolve and become more sophisticated, there is a growing need for efficient systems like LIS to manage laboratory information effectively, resulting in substantial growth opportunities for the market in these regions.
The laboratory application segment held approximately 42.0% share of the global Laboratory Information Systems (LIS) market in 2020.
The statistic indicates that the laboratory application segment accounted for about 42.0% of the total market share within the global Laboratory Information Systems (LIS) market in the year 2020. This suggests that a significant portion of the market’s activities and revenue generation was attributed to laboratory applications specifically. The strong presence of the laboratory application segment signifies its importance within the LIS market, potentially indicating a high demand for laboratory-specific functionalities, services, or solutions compared to other segments. This information is valuable for stakeholders, researchers, and industry players to understand the market landscape and make informed decisions regarding strategies, investments, and innovation within the field of Laboratory Information Systems.
The leading companies in the global Laboratory Information System (LIS) market are Cerner Corporation (U.S.), McKesson Corporation (U.S.), Epic Systems Corporation (U.S.), SCC Soft Computer (U.S.) and others.
The statistic about the leading companies in the global Laboratory Information System (LIS) market highlights the key players dominating this industry, which includes Cerner Corporation, McKesson Corporation, Epic Systems Corporation, SCC Soft Computer, and other notable companies. These companies are recognized for their expertise in developing, implementing, and providing laboratory information systems to various healthcare organizations worldwide. Their market dominance signifies their innovative solutions, strong market presence, and ability to meet the complex needs of healthcare facilities for efficient management of laboratory data and workflows. These leading companies play a crucial role in shaping the LIS market landscape and driving advancements in healthcare technology.
The SaaS/cloud-based LIMS market is estimated to grow at the highest rate during 2020-2025.
This statistic suggests that the Software as a Service (SaaS) and cloud-based Laboratory Information Management Systems (LIMS) market is expected to experience significant growth between 2020 and 2025. This growth rate is projected to be the highest among various segments within the LIMS market. The increasing adoption of SaaS and cloud-based solutions in the laboratory industry is likely to be driven by factors such as cost-effectiveness, scalability, and remote accessibility. This trend indicates a shift towards more flexible and efficient technology solutions in laboratory management, reflecting the ongoing digital transformation across various industries.
Conclusion
The laboratory information systems industry is poised for continued growth and innovation, driven by advancements in technology and the increasing demand for efficient and accurate data management in healthcare settings. As the industry continues to evolve, staying informed about the latest trends and statistics will be crucial for professionals to adapt and thrive in this rapidly changing landscape.
References
0. – https://www.www.grandviewresearch.com
1. – https://www.www.statista.com
2. – https://www.www.business-standard.com
3. – https://www.www.marketsandmarkets.com
4. – https://www.www.globenewswire.com
5. – https://www.www.fortunebusinessinsights.com
6. – https://www.www.transparencymarketresearch.com
