Asia Pacific Laboratory Information Management Systems (LIMS) Market to Grow at a CAGR of 12.1% to reach US$ 158.49 million from 2021 to 2028

The laboratory information management systems (LIMS) market in Asia Pacific is expected to grow from US$ 353.16 million in 2021 to US$ 158.49 million by 2028; it is estimated to grow at a CAGR of 12.1% from 2021 to 2028.

The demand for cloud-based LIMS services is growing as the approach requires lower capital and operational expenditures than premise-based LIMS. Cloud-based solutions allow healthcare organizations and clinical laboratories to share and integrate data from several locations, making the data collection process more efficient. The emergence of Internet-enabled cloud-based services has resulted in major advancements in the laboratory information management systems market. Advancements in virtualization and increased access to high-speed internet allow for faster innovation at lower costs. Companies that employ cloud-based solutions just have to pay for the software subscription instead of the complete licenses. Moreover, cloud-based LIMS do not require any upfront capital expenditure for hardware, which reduces the burden from healthcare and clinical settings with a minimum requirement of IT personnel, thus enabling rapid and secure data transmission within organizations. Pharmaceutical and medical devices manufacturers are increasingly employing centralized corporate-based facilities to develop a virtual network of contract research, development, and manufacturing organizations (CRDMOs) and academic institutions. The adoption of cloud-based LIMS solutions would enable them to manage large volumes of data gathered from their operations. Cloud-based models would emerge as an effective LIMS solution due to benefits such as increased data accessibility, cost-effectiveness, and real-time analysis, providing substantial growth prospects to the laboratory information management system market players.

Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. Currently, India is the second worse hit country across the world. Many measures have been implemented to contain the spread of COVID-19 that have resulted in significant operational disruption for many companies including in Laboratory information Management System manufacturing industry. Staff quarantine, supply-chain failures, and reductions in demand have generated serious complications for companies. Also, there has been a significant drop in in-patient and out-patient for private hospital chains. Hence, when the COVID-19 pandemic first started to spread, the laboratory information system market in Asia Pacific was negatively affected, because the development of the related software and provision of associated services were halted. However, as the patient count increased and unchecked, the demand for LIMS solutions began to rise again. This was because of a sudden surge in the number of people visiting diagnostic laboratories for COVID tests, which put a strain on the operations of such medical facilities.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific laboratory information management systems (LIMS) market. The Asia Pacific laboratory information management systems (LIMS) market is expected to grow at a good CAGR during the forecast period.

Asia Pacific Laboratory Information Management Systems (LIMS) Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Laboratory Information Management Systems (LIMS) Market Segmentation

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By Type

• Standalone
• Integrated

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By Deployment

• Web-Based Delivery Mode
• Cloud-Based Delivery Mode
• On-Premise Delivery Mode

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By Component

• Software
• Services

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By Application

• Sample Management
• Workflow Automation
• Records Management
• Decision Making
• Enterprise Resource Planning
• Logistics Management

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By End-User

• Pharmaceutical Companies
• Contract Research Organisations
• Hospitals & Clinics
• Others

Asia Pacific Laboratory Information Management Systems (LIMS) Market – By Country

• China
• Japan
• India
• South Korea
• Australia
• Rest of APAC

Asia Pacific Laboratory Information Management Systems (LIMS) Market – Companies Mentioned

• THERMO FISHER SCIENTIFIC INC.
• Abbott
• Illumina, Inc.
• LabLynx, Inc.
• LabVantage Solutions, Inc.
• Accelerated Technology Laboratories, Inc.        
• LabWare
• Autoscribe Informatics

Asia Pacific Laboratory Information Management Systems (LIMS) Report Scope