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The global laboratory information management system market by revenue is expected to grow at a CAGR of approx. 12 % during the period 2020-2026.
The growing automation in laboratories, technological advancements in LIMS, the need for regulatory compliance, and increasing R&D spending are the key drivers boosting the market growth. However, the growing demand for managing laboratory data via cloud-based solutions is a significant factor boosting the market growth. The storage of data via cloud-based solutions is reliable, agile, and secure.
There is an increase in the adoption of cloud-based LIMS among healthcare laboratories. These solutions offer a host of benefits, including reliability, security, and constant data storage access. A large volume of data due to the increase in the number of patients undergoing diagnostics has increased complexities in workflow management.