Laboratory Information Management Systems Market Regional Analysis:
North American Market Insights
North America industry is set to hold largest revenue share of 43% by 2035, due to growing awareness about LIMS among end-users and the presence of advanced research laboratories. The stringent regulatory standards and the rising R&D in pharmaceutical and research laboratories boost the market growth in the region. According to source, in 2021, overall pharmaceutical expenditures in the US grew 7.7% as compared to 2020.
The economic development in the US led to the rise of biobanks and biorepositories which has expanded the adoption of laboratory information management systems.
In Canada, an increasing governmental support and investments towards the development of laboratory automation technology further expands the market.
APAC Market Analysis Insights
The Asia Pacific region will also encounter huge growth for the laboratory information management systems market during the forecast period and will hold the second position owing to the growing demand of laboratory information management systems and contract research organizations (CROs).
The rising popularity of LIMS outsourcing in India due to the skilled labor and cost-effective solutions expands market. In addition, the healthcare industry is growing in India due to various factors such as technological developments, rising chronic diseases, awareness of health, increasing aging population. According to the source, about 21% of the elderly in India reportedly have at least one chronic disease. Furthermore, the need for data management and LIMS is surging which boosts the laboratory information management systems (LIMS) market growth.
