Standalone segment to dominate the North America Laboratory Information Management Systems (LIMS) Market during 2021–2028

According to a new market research study on “North America 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$ 1,400.64 million by 2028 from US$ 648.09 million in 2021. The market is estimated to grow at a CAGR of 11.6% from 2021 to 2028. The report provides trends prevailing in the North America laboratory information management systems (LIMS) market along with the drivers and restraints pertaining to the market growth. Raising technological advancements in LIMS, growing adoption of automation in laboratories, and occurrence of cloud-based LIMS Services are the major factor driving the growth of the North America laboratory information management systems (LIMS) market. However, insufficient expertise in healthcare IT domain hinders the growth of North America laboratory information management systems (LIMS) market.

North America has been witnessing a growing number of COVID-19 cases since its outbreak. The chaotic situation was created in the medical industry across the countries, increased demand for clinical diagnostics and therapeutic systems have dramatically increased in the hospitals. Due to COVID-19 the increasing infection rate among the healthcare workers and patients demand for medications across the region has been increased. Therefore, the healthcare facilities and clinical laboratories as well as pharmaceutical and Biotech companies have been preferring automated systems to handle the burden of COVID 19. There has also been an increasing demand for centralized laboratory information and data reporting systems that has been increasing rapidly which has created an opportunity to adapt the laboratory information management systems to deal with massive number of clinical examinations and research for development of new therapeutics. Moreover, escalating demand for rapid and quality diagnosis of coronavirus infections with minimum error has resulted in increased adoption of laboratory information systems in North America region. For instance, in March 2020, Cloud LIMS a US based market player has launched COVID-19 LIMS, a free LIMS solution for COVID-19 research and testing laboratories and biobanks. CloudLIMS has already helped supported many laboratories in US for COVID-19 research and diagnostic testing. CloudLIMS is preconfigured with COVID-19 specific tests, such as RT-PCR, serological tests for the detection of IgG/IgM antibodies, Enzyme-linked Immunosorbent Assay (ELISA), neutralization test, and Rapid Diagnostic Test (RDT).

The North America 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 the US, Canada, and Mexico. In 2021, the US 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.; LabWare; Autoscribe Informatics; LABWORKS; and LabSoft LIMS by Computing Solutions, Inc. are among the leading companies in the North America 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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