Laboratory Information Management Systems Implementations are Perceived as Painful, Limiting Revenue Potential in this Industry
Palo Alto, Calif. – March 15, 2004 – The LIMS industry is plagued by implementations that are over budget, over deadline, or that completely failed. There is a clear need in the industry for solutions that can be easily and cost effectively deployed. In the past, LIMS implementations have required significant customization to meet the customer’s needs, which has resulted in deployments that are time intensive and costly. These perceived challenges have affected the return on investment for a LIMS and, in a tight economy, have limited the potential adoption or replacement of LIMS technology.
New analysis from Frost & Sullivan (http://www.biotech.frost.com), World Laboratory Information Management Systems Markets, a part of the Strategic Analysis Service, reveals that this market generated revenues worth $210 million in 2003 and is likely to reach $330 million in 2009. This study presents detailed analysis of market and technology trends, market share, revenue forecasts, and other market dynamics. In addition, a survey was conducted of over 200 users of LIMS technology to develop an understanding of the trends and perceptions in the market.
If you are interested in an analysis overview which provide manufacturers, end-users and other indusrty participants an overview, summary, and latest coverage of the World Laboratory Information Management Systems Markets – then send an email to Danielle White – North American Corporate Communications at dwhite@frost.com with the following information: name of the analysis, your full name, company name, title, contact telephone number, contact fax number, and email. Upon receipt of the above information, an overview will be emailed to you.
There is a clear business need for global, corporate standard operating practices, in part fuelled by increased merger & acquisition activity. “LIMS vendors that can deliver systems that can interface with other business software systems and that support multiple languages, time zones, and data formats are likely to experience robust growth,” say Frost & Sullivan analyst, Nate Cosper, Ph. D.
Too many LIMS implementations have been over budget, over deadline, or have failed altogether, resulting in a consumer base that reluctantly adopts new technology and upgrades. Ultimately, LIMS users need solutions that are flexible enough to support their business tasks, but simple enough to reduce implementation times and total cost of ownership. Understanding these changes, and the market opportunities associated with them, will be key to the success of companies competing in the LIMS market.
Enhanced marketing and growth capabilities coupled with strategic leadership have become critical tools for companies striving to increase growth and profitability against a backdrop of shifting marketplace conditions. As an added value Frost & Sullivan encourages one-on-one interaction between client and consultant via this service.
Frost & Sullivan is a global leader in strategic Growth Consulting. This ongoing strategic analysis is part of the Drug Discovery Subscription, which also includes market insights on DNA Microarrays, Combinatorial Chemistry, and R&D Spending. Frost & Sullivan also offers growth-consulting services to a variety of leading national and international companies. Interviews are available to the media on request.
Frost & Sullivan, an international growth consultancy, has been supporting clients’ expansion for more than four decades. Our market expertise covers a broad spectrum of industries, while our portfolio of advisory competencies includes custom strategic consulting, market intelligence, and management training. Our mission is to forge partnerships with our clients’ management teams to deliver market insights and to create value and drive growth through innovative approaches. Frost & Sullivan’s network of consultants, industry experts, corporate trainers, and support staff spans the globe with offices in every major country around the world.
World Laboratory Information Management Systems Markets
A704-55
Americas:
Danielle White
Corporate Communications, Healthcare
Frost & Sullivan
P: 210.247.2403
F: 210.348.1003
E: dwhite@frost.com
Europe:
Katja Feick
Corporate Communications, Healthcare
P: +44 (0) 20 7915 7856
F: +44 (0) 20 7730 3343
E: kfeick@frost.com
