Industry analyst Frost & Sullivan has named LabWare as the European Laboratory Information Systems Company of the Year. LIMS provider LabWare has been increasing its market share consistently over the years, registering an annual growth rate of 28.73 per cent for the fiscal year 2007.
'LabWare’s ability to cater to the data management requirements of newer markets such as biobanking and clinical trials, coupled with investments in novel technologies, will enable it to sustain its dominance in the European market,' notes Frost & Sullivan research analyst Prabakar Sampath. 'Moreover, such capabilities will help the company enhance its overall share in the global LIMS market.'
The Frost & Sullivan Award for Company of the Year is presented each year to the company that has demonstrated unparalleled excellence within its industry. The award is based on numerous factors including the company's business development, competitive strategy, customer satisfaction, and leadership within a particular Frost & Sullivan Industry Research Group (IRG). This company is perceived to exhibit outstanding management and consistent growth. The company must offer high quality products and/or services and have positive social and economic impact on local and national communities. The company’s customer service offerings and performance are expected to be of very high calibre. The company should have proven expertise in taking advantage of market changes by capturing and solidifying market presence, or through execution of innovative strategies within the existing competitive landscape.