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South & Central America Laboratory Information System (LIS) Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Product (Standalone LIS and Integrated LIS), Delivery Mode (Cloud-Based Delivery Mode, Web-Based Delivery Mode, and On-Premises Delivery Mode), Component (Software and Services), and End User (Hospital Labs, Independent Labs, and Physician Office Labs)
Market Report I 2022-12-26 I 103 Pages I The Insight Partners
The laboratory information system (LIS) market in South & Central America is expected to grow from US$ 48.47 million in 2022 to US$ 84.01 million by 2028. It is estimated to grow at a CAGR of 9.6% from 2022 to 2028.
Emerging Markets Rising Adoption of Automation in Laboratories
Laboratory automation is emerging as an approach to minimize human involvement in laboratory processes. The automation of routine laboratory procedures with the help of dedicated workstations and system software helps to increase laboratory efficiency and enables researchers to concentrate on important tasks along with avoiding human errors. Laboratories are increasingly adopting laboratory information system (LIS) to maintain stringent regulatory compliance, uplift efficiency and productivity, and drive data security and integrity. According to a study published in the Journal of Lab Automation, the error incidences in fully automated, semi-automated, and manual operations are 1-5%, 1-10%, and 10-30%, respectively. The growing use of digital workstations, automated analyzers, and total laboratory automation (TLA) allows laboratory personnel to reassign activities and contribute a greater value to operations. Moreover, high volumes of data generated by laboratory systems is triggering the demand for effective data processing, analysis, and sharing methods, thereby highlighting the need of efficient and cost-effective solutions such as the LIS.
Laboratory management departments are facing many challenges with a rising population submitting larger number of samples to laboratories and a lack of personnel to process those samples. These challenges are compelling them to maintain their laboratory operations, as laboratories have to maintain control over the influx of samples as well as find the way to improve workflow to deliver patient results in a timely manner.
Further, growing demand for data integration is another factor contributing to the laboratory information system (LIS) market growth. With pharmaceutical and biotechnological industries spending huge amounts on research and development activities, the scientific communities are generating huge volumes of data. The appropriate processing and interpretation of the collected data requires data integration solutions.
For instance, in 2000, Quest Diagnostics, a prominent independent testing laboratory, started providing their consumers with a direct access to test results through the TheDailyApple.com website owned and managed by Caresoft Inc. It offers direct-to-consumer test result, thereby ensuring confidentiality and anonymity of patients. Manual processes and paper records may allow unauthorized access to data, which increases the chances of data manipulation, and hence, managing data integrity is a big challenge faced by laboratories dependent on manual operations. Increasing adoption of electronic health record (EHR) systems in outpatient clinics and hospitals, to mitigate the risks associated with manual operations, would fuel the demand for LIS. The systems also allow the use of laboratory data to offer safe and high-quality patient care. Thus, the growing focus on effective clinical workflow management, leading to the rise in automation if laboratory processes, is driving the laboratory information system (LIS) market growth.
Market Overview
This region consists of Brazil, Argentina, and the Rest of South & Central America. The countries are likely to offer growth opportunities due to presence of well-developed and established healthcare industries, increasing support from governments, and rising research and developments. The adoption of information technology in the Brazilian healthcare system is advancing alongside an increasing need for efficient healthcare services. LIS ensures that data is captured, tracked, and maintained throughout the drug discovery, development, bioanalytical, and manufacturing processes and has become an essential tool in pharmaceutical labs. Brazil has manufacturing plants of many pharmaceutical companies. Also, many foreign companies often collaborate and partner with Brazilian laboratories and local companies to develop biotechnology-based medicines.
As per the International Trade Administration (ITA), (23 Jan, 22) Brazil is the largest healthcare market in Latin America and spends 9.1 percent of its GDP on healthcare. Most research is conducted in universities and other federal state institutions in Brazil. Brazil represents the biggest market opportunity in Latin America for multinational pharma companies. For instance, (Brazil- January 8th, 2021) LabVantage Solutions, Inc., the leading provider of laboratory informatics solutions and services, announced a strategic partnership with LIDERSALES introducing LabVantage Enterprise and Medical Suite to the Brazilian market. Through this partnership, LIDERSALES will contribute to the continuous improvement of productivity and efficiency of LabVantage services in the region.
Also, government initiatives such as the Growth Acceleration Program and the Greater Brazil Plan are favoring domestic production. These are focused on modernizing public infrastructure and increase local production of innovative drugs. Thus, the factors mentioned above are driving the growth of the LIS market in the country.
South & Central America Laboratory Information System (LIS) Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Laboratory Information System (LIS) Market Segmentation
The South & Central America laboratory information system (LIS) market is segmented into product, delivery mode, component, end user, and country.
Based on product, the market is bifurcated into standalone LIS and integrated LIS. The standalone LIS segment held a larger market share in 2022.
Based on delivery mode, the market is segmented into cloud-based delivery mode, web-based delivery mode, and on-premises delivery mode. Cloud-based delivery mode segment held the largest market share in 2022.
Based on component, the market is segmented into software and services. Software segment held a larger market share in 2022.
Based on end user, the market is segmented into hospital labs, independent labs, and physician office labs. The hospital labs segment held the largest market share in 2022.
Based on country, the market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022.
CompuGroup Medical; Illumina, Inc.; LabLynx, Inc.; LabVantage Solutions, Inc.; McKESSON CORPORATION; and Thermo Fisher Scientific Inc. are the leading companies operating in the laboratory information system (LIS) market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Laboratory Information System (LIS) Market - By Product
1.3.2 SAM Laboratory Information System (LIS) Market - By Component
1.3.3 SAM Laboratory Information System (LIS) Market - By Delivery Mode
1.3.4 SAM Laboratory Information System (LIS) Market - By End User
1.3.5 SAM Laboratory Information System (LIS) Market- By Country
2. SAM Laboratory Information System (LIS) Market - Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Laboratory Information System (LIS) Market- Market Landscape
4.1 Overview
4.2 SAM PEST Analysis
4.3 Experts Opinion
5. SAM Laboratory Information System (LIS) - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Adoption of Automation in Laboratories
5.1.2 Technological Advancements in LIS
5.2 Key Market Restraints
5.2.1 Limited Expertise in Healthcare IT Domain
5.2.2 High Costs of Implementation of LIS
5.3 Future Trend
5.3.1 Emergence of Cloud-Based Delivery Mode LIS Services
5.4 Impact analysis
6. Laboratory Information System (LIS) Market- SAM Analysis
6.1 SAM Laboratory Information System Market Revenue Forecast and Analysis
7. SAM Laboratory Information System (LIS) Market Analysis and Forecasts To 2028 - By Product
7.1 Overview
7.2 SAM Laboratory Information System (LIS) Market, By Product 2021 & 2028 (%)
7.3 Standalone LIS
7.3.1 Overview
7.3.2 Standalone LIS Market Revenue and Forecast to 2028 (US$ Mn)
7.4 Integrated LIS
7.4.1 Overview
7.4.2 Integrated LIS Market Revenue and Forecast to 2028 (US$ Mn)
8. SAM Laboratory Information System (LIS) Market Analysis and Forecasts To 2028 - By Component
8.1 Overview
8.2 SAM Laboratory Information System (LIS) Market, By Component 2021 & 2028 (%)
8.3 Software
8.3.1 Overview
8.3.2 Software Market Revenue and Forecast to 2028 (US$ Mn)
8.4 Services
8.4.1 Overview
8.4.2 Services Market Revenue and Forecast to 2028 (US$ Mn)
9. SAM Laboratory Information System (LIS) Market Analysis and Forecasts To 2028 - By Delivery Mode
9.1 Overview
9.2 SAM Laboratory Information System (LIS) Market, By Delivery Mode 2021 & 2028 (%)
9.3 Cloud-Based Delivery Mode
9.3.1 Overview
9.3.2 Cloud-Based Delivery Mode Market Revenue and Forecast to 2028 (US$ Mn)
9.4 Web-Based Delivery Mode
9.4.1 Overview
9.4.2 Web-Based Delivery Mode Market Revenue and Forecast to 2028 (US$ Mn)
9.5 On-Premises Delivery Mode
9.5.1 Overview
9.5.2 On-Premises Delivery Mode Market Revenue and Forecast to 2028 (US$ Mn)
10. SAM Laboratory Information System (LIS) Market Analysis and Forecasts To 2028 - By End User
10.1 Overview
10.2 SAM Laboratory Information System (LIS) Market, By End User 2021 & 2028 (%)
10.3 Hospital Labs
10.3.1 Overview
10.3.2 Hospital Labs Market Revenue and Forecast to 2028 (US$ Mn)
10.4 Independent Labs
10.4.1 Overview
10.4.2 Independent Labs Market Revenue and Forecast to 2028 (US$ Mn)
10.5 Physician Office Labs
10.5.1 Overview
10.5.2 Physician Office Labs Market Revenue and Forecast to 2028 (US$ Mn)
11. SAM Laboratory Information System (LIS) Market -Country Analysis
11.1 Overview
11.1.1 SAM: Laboratory Information System (LIS) Market, by Country, 2021 & 2028 (%)
11.1.1.1 Brazil: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.1.1 Brazil: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.1.2 Brazil: Laboratory Information System (LIS) Market, By Product, 2020-2028 (USD Million)
11.1.1.1.3 Brazil: Laboratory Information System (LIS) Market, by Component, 2020-2028 (USD Million)
11.1.1.1.4 Brazil: Laboratory Information System (LIS) Market, By Delivery Mode, 2020-2028 (USD Million)
11.1.1.1.5 Brazil: Laboratory Information System (LIS) Market, by End User, 2020-2028 (USD Million)
11.1.1.2 Argentina: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.2.1 Argentina: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.2.2 Argentina: Laboratory Information System (LIS) Market, By Product, 2020-2028 (USD Million)
11.1.1.2.3 Argentina: Laboratory Information System (LIS) Market, by Component, 2020-2028 (USD Million)
11.1.1.2.4 Argentina: Laboratory Information System (LIS) Market, By Delivery Mode, 2020-2028 (USD Million)
11.1.1.2.5 Argentina: Laboratory Information System (LIS) Market, by End User, 2020-2028 (USD Million)
11.1.1.3 Rest of SAM: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.3.1 Rest of SAM: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
11.1.1.3.2 Rest of SAM: Laboratory Information System (LIS) Market, By Product, 2020-2028 (USD Million)
11.1.1.3.3 Rest of SAM: Laboratory Information System (LIS) Market, by Component, 2020-2028 (USD Million)
11.1.1.3.4 Rest of SAM: Laboratory Information System (LIS) Market, By Delivery Mode, 2020-2028 (USD Million)
11.1.1.3.5 Rest of SAM: Laboratory Information System (LIS) Market, by End User, 2020-2028 (USD Million)
12. Industry Landscape
12.1 Overview
12.2 Growth Strategies Done by the Companies in the Market, (%)
12.3 Organic Developments
12.3.1 Overview
12.4 Inorganic Developments
12.4.1 Overview
13. Company Profiles
13.1 Thermo Fisher Scientific Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hex Labs
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 LabLynx, Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 CompuGroup Medical
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Illumina, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 LabVantage Solutions, Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary of Terms
LIST OF TABLES
Table 1. Brazil: Laboratory Information System (LIS) Market, By Product - Revenue and Forecast to 2028 (USD Million)
Table 2. Brazil Laboratory Information System (LIS) Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 3. Brazil Laboratory Information System (LIS) Market, By Delivery Mode - Revenue and Forecast to 2028 (USD Million)
Table 4. Brazil Laboratory Information System (LIS) Market, by End User- Revenue and Forecast to 2028 (USD Million)
Table 5. Argentina: Laboratory Information System (LIS) Market, By Product - Revenue and Forecast to 2028 (USD Million)
Table 6. Argentina Laboratory Information System (LIS) Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 7. Argentina Laboratory Information System (LIS) Market, By Delivery Mode - Revenue and Forecast to 2028 (USD Million)
Table 8. Argentina Laboratory Information System (LIS) Market, by End User- Revenue and Forecast to 2028 (USD Million)
Table 9. Rest of SAM: Laboratory Information System (LIS) Market, By Product - Revenue and Forecast to 2028 (USD Million)
Table 10. Rest of SAM Laboratory Information System (LIS) Market, by Component - Revenue and Forecast to 2028 (USD Million)
Table 11. Rest of SAM Laboratory Information System (LIS) Market, By Delivery Mode - Revenue and Forecast to 2028 (USD Million)
Table 12. Rest of SAM Laboratory Information System (LIS) Market, by End User- Revenue and Forecast to 2028 (USD Million)
Table 13. Organic Developments Done by Companies
Table 14. Inorganic Developments Done by Companies
Table 15. Glossary of Terms, SAM Laboratory Information System (LIS) Market
LIST OF FIGURES
Figure 1. SAM Laboratory Information System (LIS) Market Segmentation
Figure 2. SAM Laboratory Information System (LIS) Segmentation, By Country
Figure 3. SAM Laboratory Information System (LIS) Market Overview
Figure 4. Standalone LIS Held the Largest Share of the Product Segment in SAM Laboratory Information System (LIS) Market
Figure 5. Brazil to Show Significant Growth During Forecast Period
Figure 6. SAM PEST Analysis
Figure 7. SAM Laboratory Information System (LIS) impact analysis of driver and restraints
Figure 8. SAM Laboratory Information System Market - Revenue Forecast and Analysis - 2019-2028
Figure 9. SAM Laboratory Information System (LIS) Market, by Product 2021 & 2028 (%)
Figure 10. Standalone LIS Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 11. Integrated LIS Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 12. SAM Laboratory Information System (LIS) Market, by Component 2021 & 2028 (%)
Figure 13. Software Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 14. Services Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 15. SAM Laboratory Information System (LIS) Market, by Delivery Mode 2021 & 2028 (%)
Figure 16. Cloud-Based Delivery Mode Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 17. Web-Based Delivery Mode Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 18. On-Premises Delivery Mode Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 19. SAM Laboratory Information System (LIS) Market, by End User 2021 & 2028 (%)
Figure 20. Hospital Labs Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 21. Independent Labs Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 22. Physician Office Laboratories Market Revenue and Forecasts to 2028 (US$ Mn)
Figure 23. SAM: Laboratory Information System (LIS) Market, by Key Country - Revenue (2021) (USD Million)
Figure 24. SAM: Laboratory Information System (LIS) Market, by Country, 2021 & 2028 (%)
Figure 25. Brazil: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
Figure 26. Argentina: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
Figure 27. Rest of SAM: Laboratory Information System (LIS) Market - Revenue and Forecast to 2028 (USD Million)
Figure 28. Growth Strategies Done by the Companies in the Market, (%)
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