The report "Global Laboratory Information Management Systems Market - Premium Insight, Industry Trends, Company Usability Profiles, Market Sizing & Forecasts to 2024", published by 360iResearch, states that the global market was valued at USD 656.74 million in 2017 and is projected to reach USD 1,226.63 million by 2024, growing at a CAGR of 9.34% from 2017 to 2024.
The major forces driving the growth of the laboratory information management systems market include the enforcement of stringent regulations and technical advancement in big data and analytics in healthcare. Moreover, integrated lims brings standardization to operations is also one of the factors that is driving the market growth. However lack of skilled professionals, and increasing data security and privacy concern may hinder the market growth. In the middle of difficulty lies opportunity such as the the emergence of cloud-based lims. The possible challenges for the market growth are interfacing with existing lims and other laboratory systems, and high implementation and service cost. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on product, the global laboratory information management systems market is studied across Integrated, and Standalone. Based on deployment, the global laboratory information management systems market is studied across On-Cloud, and On-Premise. Based on end user, the global laboratory information management systems market is studied across Academic & Research Institutes, Hospitals & Care Providers, Laboratories, and Pharmaceutical & Biotechnology Companies. Based on geography, the global laboratory information management systems market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the laboratory information management systems market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Abbott Laboratories, Agile Frameworks LLC, Autoscribe Informatics, Cerner Corporation, Computing Solutions, Inc., Core Informatics, LLC, IBM Watson Health, Illumina, Inc., LABWORKS LLC, LabLynx, Inc., LabVantage Solutions, Inc., LabWare, Inc., McKesson Corporation, Soft Computer Consultants, Inc., and Thermo Fisher Scientific Inc..
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Miss. Shikha Sachan
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