Exploring Component Segmentation in the Laboratory Information Management System Market
The global laboratory information management system (LIMS) market was valued at approximately USD 2.3 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 6.48% from 2024 to 2030. This anticipated growth is largely driven by significant technological advancements in pharmaceutical laboratories, along with an increasing demand for lab automation. As research and development (R&D) labs—particularly in the pharmaceutical and biotechnological sectors—continue to evolve, they are expected to contribute positively to the overall industry growth. Moreover, the appeal of LIMS is bolstered by factors such as the low cost of implementation, efficient time management capabilities, and strict compliance with Good Distribution Practice (GDP), Good Clinical Practice (GCP), and Good Manufacturing Practice (GMP) regulations. These aspects are crucial for organizations aiming to enhance their operational efficiency while adhering to industry standards. Gather ...