North America Laboratory Information Management Systems (LIMS) Market Future Opportunities till 2028

The North America Laboratory Information Management Systems (LIMS) Market is expected to grow from US$ 648.09 million in 2021 to US$ 1,400.64 million by 2028; it is estimated to grow at a CAGR of 11.6% from 2021 to 2028.

The increasing complexity of laboratory processes, coupled with technological advancements, has significantly expanded the scope of North America Laboratory Information Management Systems (LIMS) Market beyond basic data, process, and product management. Modern LIMS solutions are crucial for avoiding rework due to errors and technical glitches, ultimately saving time and money. They ensure that samples are analyzed using instruments that are regularly monitored, accurately calibrated, and maintained on schedule.

Mobility is a key driver in this technological evolution, making remote laboratory management increasingly essential. Cloud-based LIMS are gaining traction as they overcome the geographical limitations of traditional systems. These cloud solutions eliminate the need for substantial capital investments in infrastructure and facilitate rapid and secure data transfer within organizations.

The North America Laboratory Information Management Systems (LIMS) Market is highly competitive, prompting key players to continuously innovate. For example, LabVantage Solutions launched LabVantage 8.4 in February 2019, featuring updates designed to enhance the efficiency and effectiveness of laboratory processes, including improved work planning, resource management, and data privacy. In March 2021, Autoscribe Informatics released an updated version of its Regulated Manufacturing LIMS, built on the Matrix Gemini LIMS platform, catering to manufacturing organizations, particularly those in highly regulated sectors like medical devices and pharmaceuticals. Furthermore, companies are upgrading their existing automation platforms to meet the growing demands of researchers and laboratory personnel. July 2021 saw LabVantage Solutions, Inc. launch LabVantage LIMS 8.7, featuring enhanced data security and self-service access for external customers, enabling faster implementation and lower overall costs. These ongoing developments and innovations by market players are fueling the growth of the North America Laboratory Information Management Systems (LIMS) Market.

North America has experienced a significant surge in COVID-19 cases, placing immense pressure on the medical industry. The heightened demand for clinical diagnostics and therapeutics has driven hospitals and healthcare facilities to seek automated solutions. The increased infection rates among healthcare workers and patients further amplified the need for medications and efficient laboratory processes. Consequently, healthcare facilities, clinical laboratories, and pharmaceutical and biotech companies have increasingly adopted automated systems like LIMS to manage the increased workload associated with the pandemic. The escalating demand for centralized laboratory information and data reporting systems has created a substantial opportunity for LIMS adoption to handle the massive volume of clinical examinations and research for new therapeutics. The urgency for rapid and accurate COVID-19 diagnosis with minimal errors has further accelerated the adoption of North America Laboratory Information Management Systems (LIMS) Market. For instance, in March 2020, Cloud LIMS, a US-based company, launched COVID-19 LIMS, a free solution for COVID-19 research and testing laboratories and biobanks. CloudLIMS has supported numerous laboratories in the US with preconfigured COVID-19 specific tests, including RT-PCR, serological assays (IgG/IgM), ELISA, neutralization tests, and Rapid Diagnostic Tests (RDT).

The introduction of new features and technologies allows vendors to attract new customers and expand their presence in emerging markets. This factor is projected to drive the growth of the North America Laboratory Information Management Systems (LIMS) Market, which is expected to exhibit a strong Compound Annual Growth Rate (CAGR) during the forecast period.

North America Laboratory Information Management Systems (LIMS) Market Segmentation

North America Laboratory Information Management Systems (LIMS) Market – By Type

• Standalone

• Integrated

North America Laboratory Information Management Systems (LIMS) Market – By Deployment

• Web-Based Delivery Mode

• Cloud-Based Delivery Mode

• On-Premise Delivery Mode

North America Laboratory Information Management Systems (LIMS) Market – By Component

• Software

• Services

North America Laboratory Information Management Systems (LIMS) Market – By Application

• Sample Management

• Workflow Automation

• Records Management

• Decision Making

• Enterprise Resource Planning

• Logistics Management

North America Laboratory Information Management Systems (LIMS) Market – By End-User

• Pharmaceutical Companies

• Contract Research Organisations

• Hospitals & Clinics

• Others

North America Laboratory Information Management Systems (LIMS) Market – By

Country

• US

• Canada   

• Mexico

North America Laboratory Information Management Systems (LIMS) Market – Companies Mentioned

• THERMO FISHER SCIENTIFIC INC.

• Abbott

• Illumina, Inc.

• LabLynx, Inc.

• LabVantage Solutions, Inc.

• Accelerated Technology Laboratories, Inc.        

• LabWare

• Autoscribe Informatics

• LABWORKS          

• LabSoft LIMS by Computing Solutions, Inc.       

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Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights