By: Hareesh Reddy Kalavakunta -- Senior Research Analyst
30 September, 2014
Despite the presence of many players, LIMS market is consolidated with more than 65% of the market share held by top six players. Most of these players are operating largely in the North America and Europe while large part of Asian market (except Malaysia and Singapore) was sidelined by many of these big vendors due to various. There is growing demand for the LIMS in Asian market as the R&D spends in the counties like China and India is growing which demands LIMS to store all the research data for compliance and validating purpose. Hence buyers in this market are facing concerns in procuring LIMS and associated support services to have a standard LIMS format across their laboratories. This paper talks about why global vendors from North America and Europe are not concentrating the high growth potential in Asian market. Also, this paper evaluates the advantages and disadvantages of engaging LIMS vendors from other regions with that of the Asian region on various parameters like support, quality, price and others. Market trends in procuring LIMS in the Asian markets also identified and discussed. Untapped Potential in Asian LIMS Market The necessity to collect, control, centralize and manage the data acquired through laboratory analysis and also to keep track of the products, samples taken and test results is driving the demand for LIMS across the globe. Penetration of information technology and increasing demand for data management and standardization is helping in growing the number of LIMS vendors in a market worth just around USD 0.5 Billion globally. Most of the LIMS vendors are addressing only the local demand. On the other hand, large buyers of LIMS which are global pharmaceutical, life sciences and CRO companies want to have standard LIMS in their laboratories across their global sites to have common output format for better and faster comparison of analytical results unlike the data from multiple LIMS sources. This requirement is partially met by global LIMS vendors in North America and Europe with their customized products.
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