Rising Adoption of Cloud-Based Laboratory Management Systems Creating Lucrative Opportunities in Europe LIMS Market

According to the latest focus reports by Arizton, 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 laboratory information management system (LIMS) is a software-based information management system supporting modern laboratory operations. It manages a laboratory's workflows, finances, administration, and operations. The growing need for Pathology Lab Software to ensure adherence to strict regulatory standards and LIMS that is explicitly designed for genomics and optimized for next-generation sequencing (NGS) can help rapidly and accurately manage and interpret sequencing data are few factors of the growth of Europe laboratory information management systems (LIMS).

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Growing Laboratory Automation and Technological Advances are Driving the Adaptation of Cloud-Based LIMS in Europe

The cloud-based Europe LIMS segment occupies the highest market share of 50.75% in 2022 and shows significant incremental growth. The cloud-based LIMS is used across all organizations for corporate training. There is an increase in the adoption of cloud-based LIMS among healthcare laboratories as data storage via cloud-based solutions is agile, reliable, and secure. Vendors are adopting cloud-based LIMS to minimize expenditure and save time and resources. It is observed that the demand for data safety and security has driven companies to invest mainly in cloud-based infrastructure, which is another factor driving the adoption. Many organizations are turning toward deploying web-based and cloud-based LIMS, as they offer data accessibility from different locations, multiple branches, and multiple systems. Moreover, the scalability and cost-effectiveness provided by web & cloud-based LIMS contribute to this segment's largest share.

Over the past decade, there has been a significant surge in the adoption of Laboratory Information Management Systems (LIMS) across various industries. Multiple reasons have led to the growth of LIMS. One of these factors includes the rising necessity for IT solutions, and finally, there is a growing emphasis on enhancing laboratory efficiency. This expansion will drive compliance needs, research demands, personalized medicine, and data analytics. LIMS plays a crucial role in healthcare by facilitating the management of patient data test results, encompassing medical records and other diagnostic information.

Germany Spending More on Research and Development, Aiding to the Europe LIMS Market Growth

Germany occupied the market share with 21.23% and is expected to grow with a CAGR of 9.83% during the forecast period. Germany is considered the most research-intensive economy after the US and China. Germany strongly focuses on research and development, with 66% of German biotech companies considered R&D service companies. Organizations in Germany are investing their revenue shares in building research and development proficiencies across diverse applications, like proteomics, drug discovery, clinical research, and genomics. The country also actively contributes to the genomics sector, mainly focusing on research labs. For instance, the German Cancer Research Center's scientists have discovered a cause for the frequent catastrophic events within cancer cells' genetic material. Thus, these factors play an essential role in promoting the laboratory automation market growth.

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