The laboratory information management systems (LIMS) market in eastern Europe is set to increase to $17.8million by 2012.
Valued at $10 million in 2005, the laboratory information management systems (LIMS) market in eastern Europe is set to increase to $17.8million by 2012 due to the growing uptake of these systems by the pharmaceuticals community.
Laboratory automation has made considerable progress in recent years, driving pharma companies to take advantage of available laboratory resources and enhance productivity as well as efficiency by implementing LIMS.
However, with countries in eastern Europe only now opening up to new and advanced technologies in the pharmaceuticals industry, it is critical for LIMS vendors to offer solutions that can be easily implemented as well as have a quick turnaround time. They will also need to provide multilingual support systems that suit the demands of the respective countries in this region. In fact, product localisation is one of the most crucial factors required to increase penetration rates of this emerging technology.
Moreover, pharma companies that are considering LIMS for purchase are likely to assess their needs very carefully before making such a huge investment. With legacy systems already in place, many companies may not feel that there is a genuine need for replacement of these systems with modern, second-generation configurable solutions.
Nevertheless, foreign investors have been increasingly targeting countries such as Poland, the Czech Republic and Russia due to the substantial advantages they offer such as tax exemption for technology equipment transport and depreciation for hardware and software products. The business environment is also conducive for these investors to form partnerships with domestic vendors, which not only increases the potential for enhanced profitability but also helps them gain a clearer picture of the end-user base they are targeting.
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