Market research firm Technavio has prepared a report forecasting the global LIMS market growth from the period of 2017-2021. In the report Technavio’s analysts forecast the global LIMS market to grow at a CAGR of 8.94 per cent during the period 2017-2021.
The report covers the current global market and the growth prospects of the LIMS market. Estimations on market size are calculated by considering revenue generated from the sales of LIMS, ELN and LIS software. The report also includes a discussion of the key vendors operating in this market.
The report cites the integration of traditional LIMS with healthcare systems as a significant market trend but also acknowledges that there will be challenges in data migration from legacy LIMS software into new systems.
The primary reasoning for this growth is attributed to rising levels of chronic disease and aging population which require more resources. While this goes some way to explain LIS sales or sales into healthcare markets it remains to be seen whether other integration of LIMS with healthcare mangaement systems will help to spur growth in other LIMS business segments.