Big Data Analytics and Artificial Intelligence Propel New Growth Prospects in the Global LIMS Sector
Data-based decision making and laboratory automation are driving market growth
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A laboratory information management system (LIMS) is a type of application that is designed to enhance laboratory quality and performance by keeping track of data relating to samples, tests, workflows, and equipment.
This Frost & Sullivan study analyzes the global LIMS market from 2016 to 2026 (base year is 2019). The market is segmented into on-premise LIMS and Web-based LIMS (further segmented into thin-client LIMS and cloud-based LIMS). Some of the industry verticals under study are pharmaceuticals, biotechnology, life sciences, and diagnostics; government, academic, and environmental research; and industrial.
The study examines market growth drivers and restraints and offers a revenue forecast analysis as well (total market, by vertical, by product). The key competitors in the market are Labware, LabVantage Solutions, and Abbott Informatics. The study concludes with growth opportunities that discuss cloud-based LIMS and digitalization in the healthcare space; recommendations are provided, and market participants can leverage these for future success.
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