Product ID: SQMIG45F2112
Report ID:
SQMIG45F2112 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|
Tables:
87 |
Figures:
76
The largest percentage of the global revenue in 2021 more than 45% was accounted for by the North American regional market. The dominance is attributable to favorable policies encouraging the deployment of laboratory automation, like EHR programs. The presence of cutting-edge infrastructure, increased government financing, and rising demand for genetic research are among additional reasons contributing to the region's high proportion. Due to the rising number of CROs that offer LIMS in this region, AsiaPacific is expected to have the quickest rate of growth in terms of regional markets throughout the projection period. India rated #1 among the 55 countries examined in the Global Services Location Index (GSLI) ranking for outsourcing web-enabled services in 2021.
Additionally, a number of biopharmaceutical companies are moving their manufacturing facilities to Asia Pacific in order to increase production efficiency. As a result, Asia is seeing a huge increase in demand for LIMS. But the COVID-19 pandemic had forced participants in developed markets, such the US and Europe, to lessen their reliance on Asian nations and return to in-house operations. The main emerging markets for LIMS include the Middle Eastern nations, China, Singapore, India, Brazil, and Japan. These marketplaces are unregulated and do not have the necessary standards, which opens up huge opportunities for suppliers who cannot match the requirements of industrialised nations like the US.
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REQUEST FREE CUSTOMIZATIONLaboratory Information Management System Market size was valued at USD 1.1 billion in 2019 and is poised to grow from USD 1.25 billion in 2023 to USD 3.8 billion by 2031, growing at a CAGR of 13.2% in the forecast period (2024-2031).
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Product ID: SQMIG45F2112