Pharmaceutical Mergers and Acquisitions Create Need for Open Standards in LIMS Design
DUBLIN, Ireland–(BUSINESS WIRE)–Research and Markets (http://www.researchandmarkets.com/reports/c46609) has announced the addition of “Western European Markets for Laboratory Information Management Systems” to their offering.
Pharmaceutical Mergers and Acquisitions Create Need for Open Standards in LIMS Design
The increasing trend towards mergers and acquisitions in the pharmaceuticals industry in Europe has had a direct impact on the laboratory information management systems (LIMS) market as it brings together multiple solutions of different vendors. The acquiring company then faces the difficult task of establishing effective communication between the various systems so that there are minimal technical incompatibilities and product uncertainties. The challenge for LIMS vendors, therefore, is to develop an open, standardised technology platform to ease end users difficulties in understanding the technicalities of the solution design or minimising training costs. The impact of this challenge will decrease as LIMS vendors introduce a higher degree of configurability in the implementation design.
This Frost & Sullivan research service presents a comprehensive analysis of LIMS implementations and their potential applications in pharmaceuticals research and development as well as manufacturing. The analysis includes primary growth factors, challenges as well as restraints along with detailed revenue forecasts and major opportunities within the market.
Deluge of Data Encourages Scientific Data Management through LIMS
Following the completion of the Human Genome Project, there has been a tremendous surge in biological variable data and pharmaceutical companies are under pressure to research as many as 100 compounds a week. Faced with the challenge of organising this huge volume of data and improving quality control, companies are looking for an integrated platform such as LIMS that effectively combines laboratory research with complex discovery and informatics.
LIMS has been instrumental in reducing companies’ time-to-market and streamlining the drug manufacturing process by minimising batch-to-batch rejects and false positives to derive faster and more accurate results, remarks the analyst of this research service. From a purely sample-centric viewpoint in the past, LIMS has progressed to managing data flow across the enterprise in an optimal manner. With technology developments underway to enhance flexibility and configurability in LIMS solutions, companies can aim to achieve product differentiation by integrating them with researchers and analysing genotype and phenotype variables on the same platform.
Opportunities Abound for Vendors with Strong Product Differentiation
There is no dearth of opportunities for vendors in the technology-driven LIMS market, which is characterised by quick innovation cycles. However, intensifying competition and the strict regulatory climate in the pharmaceuticals industry pose a strong challenge. Vendors that are able to bring out product differentiation to meet the changing laboratory experimental requirements are most likely to succeed.
Given the high entry costs to the pharmaceutical industry and stringent regulatory measures, LIMS vendors can emerge successful if they develop a product differentiating factor that has the ability to integrate with the laboratory environment and harmonise with the business processes, says the analyst. Companies are already taking steps to make their solutions more interactive and customer-friendly. This is likely to enhance sample traceability, instrument interfacing and final report generation in a formatted manner.
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