Software Segment to Dominate the Asia Pacific Laboratory Information Management Systems (LIMS) Market during 2021–2028

According to a new market research study on “Asia Pacific Laboratory Information Management Systems (LIMS) Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Deployment, Component, Application, and End-User,” is expected to reach US$ 353.16 million by 2028 from US$ 158.49 million in 2021. The market is estimated to grow at a CAGR of 12.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific laboratory information management systems (LIMS) market along with the drivers and restraints pertaining to the market growth. Appearance of cloud-based LIMS services, substantial potential for laboratory informatics in emerging markets, and fostering adoption of automation in laboratories are the major factor driving the growth of the Asia Pacific laboratory information management systems (LIMS) market. However, restricted expertise in healthcare IT domain hinders the growth of Asia Pacific laboratory information management systems (LIMS) market.

Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. Currently, India is the second worse hit country across the world. Many measures have been implemented to contain the spread of COVID-19 that have resulted in significant operational disruption for many companies including in Laboratory information Management System manufacturing industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient for private hospital chains. Hence, when the COVID-19 pandemic first started to spread, the laboratory information system market in Asia Pacific was negatively affected, because the development of the related software and provision of associated services were halted. However, as the patient count increased and unchecked, the demand for LIMS solutions began to rise again. This was because of a sudden surge in the number of people visiting diagnostic laboratories for COVID tests, which put a strain on the operations of such medical facilities.

The Asia Pacific laboratory information management systems (LIMS) market is segmented on the basis of type, deployment, component, application, end-user, and country. Based on type, the market is bifurcated into standalone and integrated. In 2021, standalone segment held the largest share in the market, integrated is expected to be the fastest growing segment during the forecast period. Based on deployment, the market is segmented into web-based delivery mode, cloud-based delivery mode, and on-premise delivery mode. In 2021, web-based delivery mode segment held the largest share in the market, and cloud-based delivery mode is expected to be the fastest growing segment during the forecast period. Based on component, the market is segmented into software and services. In 2021, software segment held the largest share in the market, and services is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into sample management, workflow automation, records management, decision making, enterprise resource planning, and logistics management. In 2021, sample management segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on end-user, the market is segmented into pharmaceutical companies, contract research organisations, hospitals & clinics, others. In 2021, pharmaceutical companies segment held the largest share in the market, contract research organisations is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into China, Japan, India, South Korea, Australia, and Rest of APAC. In 2021, China held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.

THERMO FISHER SCIENTIFIC INC.; Abbott; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; Accelerated Technology Laboratories, Inc.; and LabWare; and Autoscribe Informatics are among the leading companies in the Asia Pacific laboratory information management systems (LIMS) market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Thermo Fisher Scientific introduced new lab automation technologies designed to streamline workflows, optimize productivity, and speed time to results.

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