As highlighted by Life Sciences Industry Trends, the global laboratory information management system market was valued at USD 2.3 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 6.48% between 2024 and 2030. The global market is valued at about $1 billion and projected to exhibit annual growth between 12% and 14% over the next few years. Frost & Sullivan expects the user base to increase 10% to 12% annually .