Laboratory Information Management Systems (LIMS) Market To Reach USD 1690.6 Million By 2026 | CAGR of 9.3%
: New York, United States, 28-July-2020, (Via WiredRelease), (Reports and Data) – The global Laboratory Information Management Systems (LIMS) market is expected to reach USD 1690.6 million by 2026, according to a new report by Reports and Data. A growing inclination to improve the efficacy of laboratories by implementing an information management system to support various operations in a laboratory by handling tasks such as tracking of data, providing a data exchange interface with a flexible architecture, etc. is forecasted to boost the market demand for Laboratory Information Management Systems (LIMS). Laboratory Information Management Systems (LIMS) helps in optimizing various laboratory operation to keep pace with diversified and strict demands of clients.
Strict regulatory norms set up by government to authenticate the data used in analysis by laboratories, for disaster management in laboratories, record archival, etc. are further expected to push the market for Laboratory Information Management Systems (LIMS). With efforts being done to better the operational efficiency of the laboratories, the demand for Laboratory Information Management Systems (LIMS) is on a high along with a surge in the cost owing to technological advancement done to improve the functioning of the software. Thus arise in cost of deploying the Laboratory Information Management Systems (LIMS) may restrict the market growth
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Thermo Fisher Scientific, Abbott Informatics, Labware, Labvantage, Genologics Inc., Autoscribe Informatics, Lablynx, Labworks LLC, Computing solutions and Siemens.
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For the purpose of this report, Reports and Data have segmented into the global Laboratory Information Management Systems (LIMS) market on the basis of type, propellants, application, and region:
Type Outlook (Revenue, USD Million; 2018-2026)
Component Outlook (Revenue, USD Million; 2018-2026)
Deployment Outlook (Revenue, USD Million; 2018-2026)
Industry Vertical Outlook (Revenue, USD Million; 2018-2026)
Pharmaceutical & Biotechnology IndustriesBio-banks & Bio-RepositoriesClinical Research LaboratoriesContract Service OrganizationsAcademic Research InstitutesNext-Generation Sequencing LaboratoriesToxicology LaboratoriesOil & Gas industryFood & Beverage IndustryAgriculture IndustryChemical IndustryEnvironmental Testing LaboratoriesOthers
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key aspects of the Laboratory Information Management Systems (LIMS) Market Report:
The report comprises of Laboratory Information Management Systems (LIMS) market overview, market share, demand and supply ratio, supply chain analysis, and import/export details.
The report explores different strategies and procedures undertaken by key market players that assist in making profitable decisions.
The report covers all the crucial information about the products and services of major competitors.
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