Laboratory Information Management Systems in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4171Revenue
$581.4m
Past 5-Year Growth
Profit
$XX.Xm
Employees
3,535
Businesses
209
Wages
$XXX.Xm
Laboratory Information Management Systems in the US industry analysis
The industry has seen a significant transformation over the last decade, receiving a shot in the arm from major technological, regulation, and healthcare delivery shifts. This digital tool used in labs to manage data, invoice suppliers, track inventory, enhance data security, and facilitate compliance with regulations has proved vital in improving the operational efficiency and accuracy of various labs in healthcare and industrial research, helping them rise to meet the challenges of 21st-century science and medicine. While healthcare LIMS software is at the center of this industry, software for industrial and engineering labs also contributes. Over the past five years, revenue is anticipated to grow at a CAGR of 3.6% to $581.4 million, including increasing 2.0% in 2023 with a profit of 10.2%.Many changes have altered the LIMS software landscape, notably the pandemic. Healthcare labs acted as some of the only quantitative visuals on a nebulous health crisis, supplying individuals and governments with lifesaving information using electronic medical records collated by LIMS software. Thankfully, the Patient Protection and Affordable Care Act (PPACA) had already prompted a migration towards electronic health records, driving LIMS systems to enhance their interoperability with these digital records. This shift has underscored the importance of LIMS as a tool for ensuring compliance with healthcare laws and regulations, improving patient care and streamlining lab operations in a world more vulnerable to health disasters than many realized.LIMS software is poised for innovation, as it is forecast to rise at a CAGR of 2.7% to $665.6 million in 2028. Evolution towards modular software will enable LIMS platform customization based on specific requirements while connecting seamlessly out to recordkeeping, invoicing, and business tools. Integrating AI into LIMS will further enhance data analysis capabilities, automating visual diagnoses in seconds. Continued expansion of cloud technology and mobile compatibility will enhance communication and collaboration amongst lab personnel, even when testing in the field or working at home. Internally, LIMS systems will improve data security, as health infrastructure has become a key component of national infrastructure. These changes are poised to enhance LIMS systems, facilitating an ever-deeper look into the invisible attributes essential to modern healthcare and infrastructure.
Trends and Insights
- LIMS software developers are essential to the smooth functioning of modern laboratories. Software automating mundane or error-prone tasks has saved countless lives by cross-checking technicians and enabling faster results for time-sensitive tests.
- LIMS software comes in many forms to calculate accurately on devices from medical equipment to servers to mobile scanners. Cloud-based LIMS systems are still broadly becoming more popular as cloud providers can scale relatively easily.
- LIMS software developers locate in Silicon Valley to connect with tech professionals and investors. Many Californian industries also provide fertile ground for client industrial and medical testing labs.
- LIMS systems are a very small market with moderate competitive forces. No developer is so much more prominent as to dominate a large percentage of the available clientele.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 3.6 % over the past five years, to reach an estimated $581.4m in 2023.
Trends and Insights
Impacts of the Patient Protection and Affordable Care Act (PPACA)
- The PPACA, also known as Obamacare, has influenced LIMS by encouraging the shift toward electronic health records and data interoperability in healthcare.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
LIMS software will compartmentalize
- Compartmentalization enables different labs systems to use customized variations while maintaining unification.
Biggest companies in the Laboratory Information Management Systems in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Thermo Fisher Scientific Inc. | 59.4 | 11.2 | 18.8 | |
Abbott Laboratories | 46.8 | 12.2 | 26.2 |
To view the market share and analysis for all 2 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Client/server LIMS, Web-based LIMS and Standalone LIMS. Client/server LIMS is the largest segment of the Laboratory Information Management Systems in the US.
Trends and Insights
Web-based LIMS has become the leading LIMS structure
- Web-based LIMS software is commonly used due to its cloud-based nature, which allows users to access it via an unmodified internet browser.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Laboratory Testing Services in the US
- Diagnostic & Medical Laboratories in the US
- Operating Systems & Productivity Software Publishing in the US
- Business Analytics & Enterprise Software Publishing in the US
International industries
- Software Publishing in Canada
- Software Publishing in Australia
- Software Publishing in the UK
- Software Publishing in Ireland
- Software Development in Ireland
Table of Contents
About this industry
Industry definition
Companies in this industry develop laboratory information management system (LIMS) software. LIMS software is designed specifically for industrial and medical laboratories to help manage data and information. This industry does not include manufacturers of laboratory equipment.
What's included in this industry?
Development of thick-client laboratory information management systemsDevelopment of thin-client laboratory information management systemsDevelopment of web-based laboratory information management systemsCompanies
Thermo Fisher Scientific Inc.Abbott LaboratoriesPurchase this report to view all 2 major companies in this industry.
Related Terms
LIMSTHICK-CLIENTTHIN-CLIENTIndustry Code
NAICS 54138 - Laboratory Information Management Systems in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
LIMS software developers are essential to the smooth functioning of modern laboratories. Software automating mundane or error-prone tasks has saved countless lives by cross-c...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
LIMS software comes in many forms to calculate accurately on devices from medical equipment to servers to mobile scanners. Cloud-based LIMS systems are still broadly becoming...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
LIMS software developers locate in Silicon Valley to connect with tech professionals and investors. Many Californian industries also provide fertile ground for client industr...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
LIMS systems are a very small market with moderate competitive forces. No developer is so much more prominent as to dominate a large percentage of the available clientele.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Medical LIMS developers are frequently involved in other parts of the med-tech supply chain. The complexity and non-intuitiveness of LIMS systems make their creation even mor...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Thermo Fisher Scientific Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Abbott Laboratories's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Thermo Fisher Scientific Inc., and factors influencing its performance in the industry
- Description and key data for Abbott Laboratories, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
LIMS companies, like their other software siblings, receive little direct assistance. Still, trickle-down effects from medical policies have given developers far more income.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
LIMS software development is a highly human resources-focused job. Research and development spending is also relatively high.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Laboratory Information Management Systems in the US industry in United States in 2024?
The market size of the Laboratory Information Management Systems in the US industry in United States is $581.4m in 2024.
How many businesses are there in the Laboratory Information Management Systems in the US industry in 2023?
There are 209 businesses in the Laboratory Information Management Systems in the US industry in United States, which has grown at a CAGR of 1.7 % between 2018 and 2023.
Has the Laboratory Information Management Systems in the US industry in United States grown or declined over the past 5 years?
The market size of the Laboratory Information Management Systems in the US industry in United States has been growing at a CAGR of 3.6 % between 2018 and 2023.
What is the forecast growth of the Laboratory Information Management Systems in the US industry in United States over the next 5 years?
Over the next five years, the Laboratory Information Management Systems in the US industry in United States is expected to grow.
What are the biggest companies in the Laboratory Information Management Systems in the US market in United States?
The biggest companies operating in the Laboratory Information Management Systems market in United States are Thermo Fisher Scientific Inc. and Abbott Laboratories
What does the Laboratory Information Management Systems in the US in United States include?
Development of thick-client laboratory information management systems and Development of thin-client laboratory information management systems are part of the Laboratory Information Management Systems in the US industry.
Which companies have the highest market share in the Laboratory Information Management Systems in the US in United States?
The company holding the most market share in United States is Thermo Fisher Scientific Inc..
How competitive is the Laboratory Information Management Systems in the US industry in United States?
The level of competition is moderate and steady in the Laboratory Information Management Systems in the US industry in United States.
