Europe Laboratory Information Management System (LIMS) Market - Focused Insights 2023-2028

The Europe laboratory information management system (LIMS) market was valued at USD 510.55 million in 2022 and is expected to reach USD 912.47 million by 2028, growing at a CAGR of 10.16%.

The automation in laboratories and increasing R&D activities in the life sciences industry have helped researchers understand the field of human DNA, genetics, and biochemistry, which has resulted in the growth of the European laboratory information management system (LIMS) market.

This report offers market size & forecast data for the Europe laboratory information management system (LIMS) market. The revenue generated from service offerings is included in the report. This report provides a comprehensive and current market scenario of the Europe laboratory information management system(LIMS), including the market size, anticipated market forecast, relevant market segmentations, and industry trends and growth enablers.

Market Definition

The laboratory information management system (LIMS) is a software-based laboratory and information management system that supports modern laboratory operations. It manages the workflows, finances, administration, and operations of a laboratory.

KEY HIGHLIGHTS

• The Broad-based laboratory information management system (LIMS) market is growing at a CAGR of 9.85% during the forecast period. The growth is due to the greater scope for customizations and interpretation supporting multiple laboratories across different sites. The flexibility and value-added modules offered by the broad-based laboratory information management system (LIMS) make them suitable for research and development labs, stability labs, environmental monitoring labs, etc.
• The services segment of the component segment occupies a significant market. The increasing growth of this segment is attributed to the following reasons: the rise in end-user demand for professional services, including installation, consulting, and training, which is the primary factor driving the services segment's revenue growth. There is an increasing need for laboratory information management system (LIMS) implementation, integration, maintenance, validation, and support.
• As cloud-based laboratory information management system (LIMS)  helps access data from multiple locations, systems, and branches, real-time collaboration among researchers and scientists and the increasing need for remote access to laboratory data have resulted in exponential growth and have already acquired a majority of the market share in the development type segment.
• In the end-user type segment, the life sciences segment occupied a major market share due to the high adoption of laboratory information management systems (LIMS) in life science laboratories, the rise in R&D activities in pharmaceutical industries, and increased concerns over data integrity, validity, and security and followed by the chemical and energy segment for being constantly under pressure to innovate and develop new, high-quality products at lower costs while meeting the needs for safety, improved health, and environmental impact.
• In the regional segment, Germany occupied a market share of 21% as it is considered the most research-intensive economy after the U.S. and China. Germany strongly focuses on research and development, with 66% of German biotech considered R&D service companies. France was the second largest market among European countries, followed by the U.K. and Italy.
• Regarding the competitive landscape, the major players are Labvantage, Labware, Thermofisher Scientific, Starlims, Labguru, and Qbench.