Opportunities for Laboratory Information Management Systems Markets in Eastern Europe

Published by: Frost & Sullivan

Published: Dec. 23, 2005 - 6500 Pages

Table of Contents

1. Executive Summary

        1. Industry Snapshot

                1. Executive Summary

2. Glossary of Terms and Exchange Rates

        1. Glossary of Terms

                1. Glossary

        2. Exchange Rates

                1. Exchange Rates

3. Eastern European Laboratory Information Management Systems Market

        1. Market Overview

                1. Background

        2. Market Engineering Measurements

                1. Market Engineering Measurements

        3. Market Drivers

                1. Market Drivers

                a. Eastern Europe Sector Fuelling the Demand for LIMS by Providing a Cost-friendly Business Climate

                b. Data Management Commands Effective LIMS Implementation

                c. Regulatory Compliance Fostering the Adoption of LIMS in Eastern Europe

        4. Industry Challenges

                1. Industry Challenges

        5. Revenue Forecasts

                1. Revenue Forecasts

        6. PEST Analysis

                1. PEST Analysis

4. Geographic Investment Trends

        1. Geographic Segmentation

                1. Geographic Investment Trends

5. Market Attractiveness Analysis: SMART Model

        1. Market Opportunity Analysis

                1. Introduction to SMART Model

                2. Methodology

                3. The Model

6. Frost & Sullivan Awards

        1. Frost & Sullivan Awards

                1. Frost & Sullivan Award for the Eastern European Laboratory Information Management Systems Market

        2. Product Differentiation Innovation Award

                1. Award Description

7. Strategic Recommendations

        1. Possible Strategies for the Emerging Eastern European Market

                1. Strategies

8. Database of Key Industry Participants

        1. Database of Key Industry Participants

                1. Database of Key Industry Participants

Abstract

Reliance on Local Distributors Might Affect Customer Satisfaction

With pharmaceutical companies in eastern Europe increasingly implementing laboratory information management systems (LIMS) to make the most of available laboratory resources and enhance productivity as well as efficiency, the market is set to witness strong growth. Market revenues are expected to increase from $10.0 million in 2005 to $17.8 million in 2012 at a compound annual growth rate (CAGR) of 8.6 per cent. Currently, companies are dependent on distributors to acquire their LIMS models. Although obtaining LIMS through local distributors is not a difficult task, these distributors deal with many different models of LIMS and hence may not have the requisite skills to offer anything more than a basic level of customer support. The lack of expertise to resolve more complex difficulties that might arise in a particular model can negatively impact customer satisfaction. LIMS vendors must attempt to counter this challenge by focusing on expanding their knowledge base as well as enhancing their sales and services through targeted customer support in the respective countries in eastern Europe.

This Frost & Sullivan research service focuses on the emerging opportunities for LIMS in eastern Europe and its potential in the pharmaceuticals industry. It analyses the major market trends, drivers, restraints and challenges as well as provides strategic recommendations to address these difficulties. It also analyses the relative attractiveness of individual country markets within eastern Europe.

Regulatory Compliance Fosters LIMS Adoption

Foreign investment in the pharmaceuticals industry has been increasing in many countries of eastern Europe such as Poland, the Czech Republic, and Russia. Since most of these companies have business operations at multiple sites, they will have to comply with certain mandatory regulatory measures such as ISO 17025 and good manufacturing practices. This trend is likely to continue with companies adopting more regulatory measures in their manufacturing sites as they strive to retain international competency.

"LIMS vendors will have to provide quality control software packages with more robustness to meet the changing demands of the pharmaceutical industry," remarks the analyst of this research service. "This is likely to be a strong driver for the LIMS market given the current trend among pharmaceutical companies of choosing tax-friendly countries to enhance their profitability."

Opportunities Abound for Vendors with Product Differentiation Innovation

Being technology-driven and characterised by quick innovation cycles, the LIMS market offers plentiful opportunities for vendors that can achieve strong product differentiation to meet the constantly changing laboratory experimental requirements. Many vendors are already attempting to do this by providing interactive, customer-friendly features that will enhance sample traceability, instrument interfacing and final report generation in a formatted manner.

With eastern Europe providing a cost-friendly business environment, LIMS vendors can capitalise on this by streamlining operations and offering enhanced services in the form of superior customer support systems in the respective countries. "The assured helpline is bound to be an encouraging factor for developing pharmaceutical end users as they gain a favourable and rapid return on investment in terms of faster turn around time," says the analyst. "This, in turn, provides a symbiotic climate as brand recognition and reliability for the LIMS vendors increases through their enhanced professional services."

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