South America Laboratory Information Management Systems (LIMS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Standalone and Integrated), Deployment (On-Premise Delivery Mode, Web-Based Delivery Mode, and Cloud-Based Delivery Mod

South America Laboratory Information Management Systems (LIMS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Standalone and Integrated), Deployment (On-Premise Delivery Mode, Web-Based Delivery Mode, and Cloud-Based Delivery Mode), Component (Software and Services), Application (Sample Management, Workflow Automation, Records Management, Logistics Management, Enterprise Resource Planning, and Decision Making), and End-User (Hospitals & Clinics, Pharmaceutical Companies, Contract Research Organizations, and Other End Users)

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. Informatics platforms save time and money as they help avoid rework if an error occurs and other technical glitches persist. LIMS solutions ensure that samples are only sent or assigned to instruments that are regularly monitored and accurately calibrated and maintained as per schedule. Due to technological developments and far exceeding complexities in laboratory processes, the scope of LIMS has gone beyond data, process, and product management. Moreover, mobility is one of the driving forces of the new technological era, wherein the remote management of laboratories is likely to be indispensable. Cloud-based LIMS has also been considered to meet the problem of limited geographic coverage associated with traditional LIMS systems. These systems eliminate the need for heavy capital investments in infrastructure and enable fast and safe data transfer within the organizations. The laboratory information management systems market players are developing innovative solutions to sustain their presence in the highly competitive market. For instance, in February 2019, LabVantage Solutions launched LabVantage 8.4, the newest version of its LIMS. The LabVantage 8.4 has novel and updated features that enable laboratory management and staff to improve the efficiency and effectiveness of laboratory processes. The product is likely to assist them in planning work and managing resource capacity and availability, simultaneously ensuring data privacy. Autoscribe Informatics launched an updated version of its Regulated Manufacturing LIMS in March 2021; it is a configured solution based on the Matrix Gemini LIMS solution. The product is ideal for all manufacturing organizations, including highly regulated industries like medical devices and pharmaceuticals.

Moreover, the companies are also upgrading their original automation platforms to meet the escalating demands for researchers and laboratory personnel. In July 2021, LabVantage Solutions, Inc. announced the launch of a new edition of its flagship LabVantage LIMS. The LabVantage LIMS 8.7 portal features systems that manage the laboratory's data security, along with offering self-service access to external customers. It also allows laboratories to go live faster and lower costs. Thus, the developments and innovations by the market players are boosting the growth of the laboratory information management systems market.

South America has been witnessing a growing number of COVID-19 cases since its outbreak. The cases are increasing in Brazil, Argentina, and the Rest of SAM. 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, the pandemic has accelerated their adoption. 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. entered into a strategic partnership with LIDERSALES, a Brazilian technological solutions company. This partnership is aimed at the distribution of LabVantage Medical Suite, a laboratory information system, in the Brazilian market to deal with the COVID-19 crisis. These factors will potentially impact the South America laboratory information management system market.

The South America laboratory information management systems (LIMS) market is segmented based on type, deployment, component, application, and end-user. Based on application, the market is segmented into sample management, workflow automation, records management, decision making, enterprise resource planning, and logistics management. In 2021, the sample management segment held the largest share of the market. With the advent of high-throughput technologies and equipment, laboratory work is witnessing a paradigm shift from small projects involving few researchers to large-scale projects involving geographically dispersed multiple laboratories and thousands of samples. The sample management features of laboratory information management systems enable a detailed track and trace information about any laboratory content, from reception, storage, and experimentation, to exit. LIMS is a fully customizable system connected to the lab's specific needs. The sample management module helps to manage the logistics of the contents of the lab. Efficient deployment of LIMS is also used to define exact locations to attach data of the chosen sample. A series of experiments track the sample to determine pedigrees of genetically related samples supported by the LIMS. The function of the sample management is to organize the sample and exact information for easy navigation.

The South America laboratory information management systems (LIMS) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the South America laboratory information management systems (LIMS) market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants typically involved in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the South America laboratory information management systems (LIMS) market. THERMO FISHER SCIENTIFIC INC.; Abbott; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; Accelerated Technology Laboratories, Inc.; LabWare; and Autoscribe Informatics are among the leading companies in the market.

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