South America Laboratory Information Management Systems (LIMS) Market

The laboratory information management systems (LIMS) market in South America is expected to grow from US$ 45.46 million in 2021 to US$ 92.74 million by 2028; it is estimated to grow at a CAGR of 10.7 % from 2021 to 2028.

The demand for cloud-based LIMS services is growing as the approach requires lower capital and operational expenditures than premise-based LIMS. Cloud-based solutions allow healthcare organizations and clinical laboratories to share and integrate data from several locations, making the data collection process more efficient. The emergence of Internet-enabled cloud-based services has resulted in major advancements in the laboratory information management systems market. Advancements in virtualization and increased access to high-speed internet allow for faster innovation at lower costs. Companies that employ cloud-based solutions just have to pay for the software subscription instead of the complete licenses. Moreover, cloud-based LIMS do not require any upfront capital expenditure for hardware, which reduces the burden from healthcare and clinical settings with a minimum requirement of IT personnel, thus enabling rapid and secure data transmission within organizations. Pharmaceutical and medical devices manufacturers are increasingly employing centralized corporate-based facilities to develop a virtual network of contract research, development, and manufacturing organizations (CRDMOs) and academic institutions. The adoption of cloud-based LIMS solutions would enable them to manage large volumes of data gathered from their operations. Cloud-based models would emerge as an effective LIMS solution due to benefits such as increased data accessibility, cost-effectiveness, and real-time analysis, providing substantial growth prospects to the laboratory information management system market players.

South America have been witnessing a growing number of COVID-19 cases since its outbreak. The cases are increasing in Brazil, Argentina, and Rest of SAM region. The COVID‐ 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South America. They have responded to the situation by closing borders, ordering quarantines, and imposing a host of restrictions to keep people confined at home. The COVID-19 pandemic presented numerous impacts on health systems, social life, and human behavior worldwide. It remains a challenge for local communities. While LIMS systems in clinical studies are relatively new, but the pandemic has accelerated its adoption. As physicians and patients have started to accept newer technologies and more opportunities for remote monitoring have arisen. Drug developers are challenged to rapidly assess the effectiveness of existing vaccines against evolving SARS-CoV-2 strains due to the virus's constant mutations. As a result, increased visibility and oversight of data collection, faster clinical trial implementation, and real-time data sharing are all priorities in this region. For instance, in January 2021, LabVantage Solutions, Inc. has entered into strategic partnership with LIDERSALES a Brazilian technological solutions company. This partnership is aimed at distribution of LabVantage Medical Suite, a Laboratory Information System in Brazilian market to deal with COVID 19 crisis. These factors had a potential impact on the South America laboratory information management system market.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the South America laboratory information management systems (LIMS) market. The South America laboratory information management systems (LIMS) market is expected to grow at a good CAGR during the forecast period.

South America Laboratory Information Management Systems (LIMS) Market Revenue and Forecast to 2028 (US$ Million)

 
 

South America Laboratory Information Management Systems (LIMS) Market Segmentation

South America Laboratory Information Management Systems (LIMS) Market – By

Type

• Standalone
• Integrated

South America Laboratory Information Management Systems (LIMS) Market – By Deployment

• Web-Based Delivery Mode
• Cloud-Based Delivery Mode
• On-Premise Delivery Mode

South America Laboratory Information Management Systems (LIMS) Market – By Component

• Software
• Services

South America Laboratory Information Management Systems (LIMS) Market – By Application

• Sample Management
• Workflow Automation
• Records Management
• Decision Making
• Enterprise Resource Planning
• Logistics Management

South America Laboratory Information Management Systems (LIMS) Market – By End-User

• Pharmaceutical Companies
• Contract Research Organisations
• Hospitals & Clinics
• Others

South America Laboratory Information Management Systems (LIMS) Market – By

Country

• Brazil
• Argentina
• Rest of SAM

South America Laboratory Information Management Systems (LIMS) Market – Companies Mentioned

• THERMO FISHER SCIENTIFIC INC.
• Abbott
• Illumina, Inc.
• LabLynx, Inc.
• LabVantage Solutions, Inc.
• Accelerated Technology Laboratories, Inc.        
• LabWare
• Autoscribe Informatic

South America Laboratory Information Management Systems (LIMS) Strategic Insights

Strategic insights for the South America Laboratory Information Management Systems (LIMS) provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South America Laboratory Information Management Systems (LIMS) Report Scope

South America Laboratory Information Management Systems (LIMS) Regional Insights

The geographic scope of the South America Laboratory Information Management Systems (LIMS) refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.