Laboratory Information Management System Market Size

Laboratory Information Management System (LIMS) Market Analysis

The Laboratory Information Management System Market size is estimated at USD 542.95 million in 2024, and is expected to reach USD 862.77 million by 2029, growing at a CAGR of 9.70% during the forecast period (2024-2029).

Factors that are responsible for the growth of the laboratory information management system (LIMS) market include the rising demand for bio-banking, increasing focus on improvisation of the laboratory, and technological advancements in LIMS offerings.

From the past few years, there has been an explosive rise in the number of samples generated for research and analysis purposes, due to the rising number of life-threatening diseases. Similarly, a significant rise in the focus on the high quality of samples and efficient management of the same have become great points of concern. This rise in the sample is pushing the researchers toward cost pressure, managing regulatory issues, storage issues, and so on. For the sake of better management of these samples, biobanks are continuously taking efforts. The LIMS helps the biobanks in the management and tracking of the samples that are generated within the framework of clinical trials, cohort projects, various biological studies, genomic studies and specific protocols. In addition, the LIMS also plays a key role in advancing the discoveries with the provision of concerned biospecimens to the end users, such as hospitals and clinics. However, factors such as the cost associated with the implementation of a laboratory information management system, among others, may hinder the market growth.