Product ID: SQMIG45F2112
Report ID:
SQMIG45F2112 |
Region:
Global |
Published Date: April, 2024
Pages:
242
|
Tables:
87 |
Figures:
76
Laboratory 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).
The market for these systems is expected to increase over the next few years as a result of technological developments relevant to pharmaceutical laboratories and the growing demand for lab automation. Laboratory information management systems are predicted to have favorable market growth as a result of developments in R&D labs, particularly in pharmaceutical and biotechnological labs. Other significant factors propelling the growth of the Laboratory Information Management System (LIMS) Market include low implementation costs, effective time management, and compliance with GDP, GCP, and GMP. Collaborations, partnerships, acquisitions, and the approval and launch of new products have all had a big impact on the market lately. Due to the growing awareness of LIMS, there has also been a considerable increase in demand for it, which is also boosting the market's expansion. Increasing laboratory automation, the requirement for regulatory compliance, technological developments in LIMS, raising consumer awareness through conferences, workshops, and seminars, and rising R&D spending are some of the other key factors influencing the growth of the global market.
Clinical laboratories were working at full capacity and there was an increase in demand for 24/7 laboratory testing services during the COVID-19 epidemic, which put a lot of strain on the staff and the facility's infrastructure. When the laboratories receive a huge volume of potentially harmful biohazardous samples each day, such stressful working circumstances are highly undesirable. As a result, LIMS adoption is being encouraged in order to improve workflows everywhere.
US Laboratory Information Management System Market is poised to grow at a sustainable CAGR for the next forecast year.
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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