LONDON–(BUSINESS WIRE)–The global laboratory information management system market is expected to grow at a CAGR of over 9% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.
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The growing need for effective management and tracking of data quality, bio-species location, security, compliances, end-user billing, and patient demographics have increased the demand for bio-banking. This has increased the adoption of LIMS software as it improves the sampling of data that involves different laboratories, FDA, and partner organizations. It integrates the research information and enables easy access to the laboratory information management software database.