Niche Markets Offer Promising Growth Potential in European Markets for Laboratory Information Management Systems
DUBLIN, Ireland–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/reports/c90021) has announced the addition of “European Markets for Laboratory Information Management Systems” to their offering
This Frost & Sullivan research service titled European Markets for Laboratory Information Management Systems provides an overview of the pharmaceutical LIMS markets in Europe along with their scope in pharma research and development, manufacturing and clinical data management, and their corresponding market size with revenues. Together, it provides a complete analysis of key market drivers, restraints and trends in the market. Finally, it provides strategic solutions to vendors to gain advantage in this growing market. Within the scope of this research service, the LIMS market is defined as revenues generated from licensing and servicing costs. Also detailed are market trends, technology trends and purchasing criteria of end users for LIMS solutions.
Market Overview
There has been a steady growth in the European laboratory information management systems (LIMS) market since its commercialisation in the late 1980s. “The need to manage the information deluge is the key driver for the LIMS market,” notes the analyst of this research. “LIMS applications are considered mission-critical systems since efficient storage, retrieval and sharing of information with other business intelligence software is crucial to the business process.” Over the recent years, pharma mergers and acquisitions have been a noteworthy trend and have impacted the LIMS industry by requiring it to adopt an open platform technology with the appropriate standardisation to enable remote capture and retrieval of information.
Due to the decrease in the number of R&D and manufacturing sites in Europe as well as pricing pressures caused by intense competition, the growth rate of the European LIMS market does not seem to correspond with that of the global market. LIMS companies in Europe need to evolve technologically to provide the most up-to-date software features for customers. Vendors have identified niche markets such as bio-repositories data management, clinical trials data management, electronic lab notebooks and scientific data management systems and have devised new strategies for product innovation and marketing, as these markets are likely to provide the main stream of revenues in the future.
Provision of Up-to-Date Technologies Critical for Competitive Success
The competitive landscape of the European LIMS market is highly fragmented due to the presence of several regional vendors and niche participants. The European pharmaceutical LIMS market is in its late growth stage. Owing to the high degree of innovation in the research-based pharmaceutical industry, the LIMS market is characterised by the constant quest for more rapid upgrades with technological advances, interfacing efficiently with the wide array of scientific instruments and quick implementation. The main competitive factors include providing easy-to-use interfaces, round-the-clock customer service and support and pricing strategies. Due to the increased complexity and functionality of the present LIMS solutions, providing excellent service and hassle-free maintenance solutions seems to be the key deciding factor for the purchase of a LIMS solution.
“Servicing and support costs constitute the main stream of revenues for vendors: hence, it is crucial to provide customers with up-to-date technologies to address their evolving data management requirements,” explains the analyst. “The reduction of implementation time through the provision of configurable LIMS solutions and decreasing multi-site licensing costs via standardisation are important attributes in this regard.”
Key Topics:
- Executive Summary
- Glossary and Exchange Rates
- Industry Challenges
- Total European LIMS Market
- Laboratory Information Management System Application in Pharmaceutical Research and Development Segment
- Laboratory Information Management Systems Application for Pharmaceutical Manufacturing Segment
- Laboratory Information Management System Application for Clinical Trial Experiments
- Market Engineering Strategic Recommendations for European Laboratory
- Database of Key Industry Participants
- Decision Support Database for LIMS in Europe
For more information visit http://www.researchandmarkets.com/reports/c90021
