Just like any other institution with a pre-decided work system, laboratories too, have goals to meet. The laboratory samples come and go in bulk and keeping a record of those is not as smooth and effortless as it might seem. Laboratory Information Management System (LIMS) has made this task a lot easier over time and is still in the process of innovating itself by adding new technological advancements. The LIMS industry is currently dominated by few suppliers and is primarily focusing on the product offering and strong functional capabilities, while it is expected to reach the annual growth rate of $1.2 billion by 2025.
However, recently, many have come to believe that automation is rapidly becoming the key to unlocking the future of laboratories and pathology. With the intervention of smartphones, automation in pathology labs has become an easy access for many, and its use has become a prevalent trend. By integrating these aspects, the LIMS based solutions providers have made database management in labs a robust and agile procedure.
Notably, the process of sample collection from multiple centers has been simplified through bar code generation, which can be scanned through mobile phones. Moreover, when applied during experiments, automated solutions are providing results with fewer errors at a lower price. Major market-dominating brands are also deploying AI for automating daily redundant tasks of recording and data entry. This trend has fastened the healthcare all together as larger samples can be processed per unit of time, and hence, the reports are produced faster with less human effort. Moreover, with the current laboratory managers facing the challenge of delivering high standards of services with fewer resources, LIMS has proved to be a welcome support.
Apart from this, there has been a gradual shift from the home-grown management system to a completely off-the-shelf LIMS. These systems have shown commendable maturity, reliability, and flexibility in data management. The capabilities of off-the-shelf LIMS help pathologists to focus on other core competencies like analytical testing, and hence bagging a more extensive customer base. The workflow in the lab management sector has become even more streamlined recently with the arrival of a cloud-based storage system as well. The market is witnessing an increased demand for cloud-storage in comparison to on-prem storage because it needs lower capital investment, reduced operational cost, and scalability.
In the close similarity to all the industries, LIMS space too is filling up with these technologies. There is a rising need for up-gradation of the existing technology to enhance the utility of the pre-existing software, and bring about a refreshing possibility in the domain of laboratory management equipment. In the wake of these trends that are shaping the realm, the Pharma Tech Outlook’s has listed some of the top solution providers in the domain.
We present to you Pharma Tech Outlook’s “Top 10 LIMS Solution Providers – 2019.”