In addition to these regulations, guidelines regarding appropriate labeling and advertising are also required to be followed. For instance, regulatory requirements such as 21 CFR Part 11 and Clinical Laboratory Improvement Amendments (CLIA) in the pharmaceutical and biotech industries include documentation and audit trails-from research & development and testing to production and quality control. In various countries, pharmaceutical and biotechnology companies face immense pressure to comply with strict regulatory guidelines for preclinical and clinical testing before launching new drugs into the market. LIMS market Dynamics Drivers: Growing use of LIMS to comply with stringent regulatory requirements This is likely to increase the uptake of informatics solutions, such as LIMS, which enhance research and testing activities, along with efficient data management. Also, research laboratories focused on developing treatments or vaccines for COVID-19 need an effective end-to-end solution to improve the quality, productivity, and rapidity of the vaccine manufacturing process. Research laboratories or diagnostic labs focusing on COVID-19 research need to handle multiple steps (such as test management, sample handling, inventory control, packaging, and shipment). The state of urgency to combat the outbreak led pharma & biotech companies, researchers, various diagnostic labs, and testing facilities conducting COVID-19 research to adopt advanced technologies and solutions exceeding traditional avenues to improve workflows. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. Largely unknown before the outbreak began in Wuhan, China, in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a few weeks. To know about the assumptions considered for the study, Request for Free Sample Report COVID-19 Impact on the LIMS MarketĬoronavirus disease 2019 (COVID‐19) is an acute respiratory infectious disease caused by severe acute respiratory syndrome coronavirus 2 (SARS‐CoV‐2). The growth of this market is attributed to the increasing use of LIMS to comply with stringent regulatory requirements, rising need for the adoption of LIMS, technological advancements in LIMS offerings, increasing R&D expenditure in different industries, and growing adoption of cloud-based LIMS. The global LIMS market is projected to reach USD 2.1 billion by 2026 from an estimated USD 1.1 billion in 2021, at a CAGR of 13.2%.
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