Latin America Laboratory Information Management System Market Size & Outlook
Latin America laboratory information management system market, 2018-2030 (US$M)
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Latin America laboratory information management system market highlights
- The Latin America laboratory information management system market generated a revenue of USD 125.7 million in 2023.
- The market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, cloud-based was the largest revenue generating product in 2023.
- Cloud-based is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 125.7 million |
| Market revenue in 2030 | USD 212.7 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Cloud-based |
| Fastest growing segment | Cloud-based |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | On-premise, Web-hosted, Cloud-based |
| Key market players worldwide | Thermo Fisher Scientific Inc, Siemens AG, LabVantage Solutions, Inc., PerkinElmer, Abbott Laboratories, Illumina Inc, Labworks, LabLynx, LABTrack, Ovation Science Inc Ordinary Shares, Assaynet, LabWare, Autoscribe Informatics, Falcon Computing Solutions, CloudLIMS |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.6% of the global laboratory information management system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 849.9 million by 2030.
Cloud-based was the largest segment with a revenue share of 42.88% in 2023. Horizon Databook has segmented the Latin America laboratory information management system market based on on-premise, web-hosted, cloud-based covering the revenue growth of each sub-segment from 2018 to 2030.
Major countries contributing to the growth of Latin America LIMS market are Brazil and Mexico. Rapid economic growth in Mexico and Brazil is one of the key factors propelling the market growth during the forecast period.
Moreover, the high demand for laboratory automation to comply with stringent regulatory guidelines is also expected to boost the market. Some of the major players in the market are LabWare, Thermo Fisher Scientific, Inc., and Shimadzu Corporation.
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Laboratory Information Management System Market Scope
Laboratory Information Management System Market Companies
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Latin America laboratory information management system market size, by country, 2018-2030 (US$M)
Latin America Laboratory Information Management System Market Outlook Share, 2023 & 2030 (US$M)
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