Fitness Trends Laboratory Information Management Systems(LIMS) Ma

Global Laboratory Information Management Systems(LIMS)
Market By Product Type, By Component, By Delivery
Mode, By End User, and By Geography - Trends and
Analysis 2024
Laboratory information management systems is a powerful IT tool for inventory management,
clinical research, project management, and patient data management. Integration of various
related processes in an organization, especially in the healthcare sector can result in improved
patient care and increased efficiency of services. It also reduces operational costs and increases
organizational agility. Laboratory Information Management Systems are helping hospitals,
diagnostic laboratories, blood banks, private clinics, and other such healthcare institutions to
increase their productivity and improve turnaround time of clinical trials. Increased focus on
improving patient care, therapy outcomes at reduced cost are the primary factors driving the
market for laboratory information management systems (LIMS) globally. The global laboratory
information systems market was valued at US$ 1,209.6 million in 2015 and is expected to
expand at a CAGR of 7.3% during the forecast period (2016 – 2024).Renewed focus on
improving laboratory practices in order to enhance efficiency
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Clinical laboratories constantly strive towards improving their laboratory practices to reduce cost
and improve efficiency. Adoption of LIMS in hospital laboratories is expected to increase at a
CAGR of 7.6% during the forecast period. Deploying LIMS in clinical laboratories can help in
trimming processes, and continuous improvement in patient and business outcomes.
Consumerization of IT is leading to an increasing demand for cloud-based solutions
Increasing proliferation of smartphones, mobile solutions, point-of-care devices and e-services is
a trend observed across the globe, and is not different in the healthcare sector. Healthcare
providers are aiming to automate various processes, while patients are also demanding
technological solutions for convenient health testing, monitoring, and recording solutions. In the
recent past, features such as cost effectiveness, scalability, and ease of use have increased
demand for cloud-based systems among end users. The cloud-based LIMS segment is projected
to be the largest sub-segment (in terms of revenue), projected to reach US$ 339.8 million by
2024. Growing demand for IT solutions that can integrate all major disciplines of laboratory