Cloud-Based Strategies Revitalize the US Laboratory Information Management Systems Market
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Transcript of Cloud-Based Strategies Revitalize the US Laboratory Information Management Systems Market
Research PREVIEW for
Analysis of the US LIMS Market
Cloud-Based Strategies Revitalize the US Laboratory Information Management
Systems Market
Sample of Key Highlights
• Due to the growth in pharmaceutical and the bio-banking industries, the laboratory information management systems (LIMS) market has a revenue of $211.1 million and is expected to grow at a 3.5% compound annual growth rate (CAGR) to a $250.7 million revenue by the end of 2018..
• Thin-client segmentation is at the peak of its growth as there is increasing adoption of these products across all industries, especially in the life science industry. .
• Thermo Fisher Scientific and Labware continue to dominate the market, but other competitors like LabVantage and StarLIMS continue to steal consumers with comparable products.
• The lack of customizability and the large cost of LIMS products impedes industry progress. • The LIMS market is primarily dependent on the growth of other industry sectors. The slower growth
rate for the industrial sector, which majorly contributes to the LIMS market, has a negative impact on the growth of this market (positive growth for the LIMS market comes from the biotech and pharma sectors).
• More consumers are moving away from thick-client Web-enabled systems.• There is a need for the lab-specific functionality and flexibility of a LIMS product for consumers to
invest in the future.
Source: Frost & Sullivan analysis.
Drivers 1–2 Years 3–4 Years 5th Year
Growth in the pharmaceutical, biobanking, and molecular diagnostics industries drive the LIMS market
H H M
Greater demand for flexible, configurable, and user-friendly systems will sustain the market H H M
Growing need for quality mass production in many of the industries will make these systems indispensable H M M
The need for standardized and rational solutions can reduce the cost of LIMS and encourage consumers in investing
M M L
The integration of software-as-a-service (SaaS)and cloud computing allows for more customizability of LIMS
M L L
The increasing need for operational efficiency in the life sciences industry will spur this market M L L
Impact ratings: H = High, M = Medium, L = Low
Total LIMS Market: Key Market Drivers, US, 2014–2018
For explanations to drivers, click here.
Market Drivers
Source: Frost & Sullivan
Restraints 1–2 Years 3–4 Years 5th Year
Long life spans of the LIMS products H H H
Lack of standardization or unification strategies slows progress
H M M
Fragmented systems and miscommunication on the needs impedes this market from growing
M M L
Impact ratings: H = High, M = Medium, L = LowFor explanations to restraints, click here.
Total LIMS Market: Key Market Restraints, US, 2014–2018
Market Restraints
Source: Frost & Sullivan
5NE40-52
2Cloud-native systems are seeing the fastest growth, owing to lower costs and user-friendly interfaces.
3The life sciences segment, mainly pharmaceutical companies and biobanks, is the main contributor to the growth of this market.
4
The most consistent LIMS functionality that is most important to consumers is data storage and maintenance, followed by quality assurance/quality control (QA/QC) for all of the industries mentioned.
5
The potential of cloud-native systems could revolutionize the usage of LIMS products due to the tremendous flexibility it offers, especially in term of data, functionality, and configuration abilities.
1Consumers are shifting from thick-client LIMS products to thin-client systems mainly due to increased customizability and configuration capabilities.
CEO’s Perspective
Source: Frost & Sullivan
The Full Analysis Features the Following Content
Section Slide Number
Executive Summary 4
Market Overview 12
Competitive Playbook 20
Total LIMS Market -
• Driver and Restraints 23
• Forecasts and Trends 26
• Competitive Environment 42
Thick-client (Web-enabled) Segment Analysis 48
Thin-client (Web-based) Segment Analysis 54
Cloud-native Segment Analysis 60
Customer and End-user Analysis 65
Key Companies to Watch 72
The Last Word 76
Appendix 79
Which of the industries are spurring to the growth in the US LIMS market?
What are the effects of the changing needs of the industrial sectors on the market?
How important are some of the LIMS functionalities for the various industrial sectors?
What are the dynamics of the three segments in the market? How are industry needs impacting the segments?
Are the products/services offered today meeting customer needs or is additional development needed?
What are the competitors doing to meet the needs in the market?
Key Questions this Study will Answer
Source: Frost & Sullivan
Partial List of Companies Interviewed
Source: Frost & Sullivan research.
Thermo Fisher Scientific
LabVantage
CoreLIMS
Agilent
AT Lab
Baytek
Benchsys
BioData
Biomatters
CloudLIMS
DNAGlobe
Foxspire
GenoLogics
Interested in Full Access? Connect With Us
Mireya EspinozaCorporate Communications
210.247.2450
Research Authors
Aish Vivekanadan
Industry AnalystLife Sciences
Divyaa RavishankarSr. Industry
AnalystLife Sciences
Jennifer LazarGlobal Program
DirectorLife Sciences
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