To understand the path of Lower Middle Income (LMIC) Economies towards economic stability as far as Science, Technology and Innovation are concerned; this paper conducts trend analysis of research output in science-based disciplines of the 55 countries in the LMIC bracket, grouped into the 6 continents of the world. Factors of interest across the six regions were (1) source of funding for scientific research output measured against percentage share of Gross domestic expenditure on R&D (GERD), (2) R&D share of GDP measured against three key determinants of growth in Science, Technology and Innovation (Services, value added (% of GDP); Industry, value added (% of GDP) and High technology exports (% of manufactured exports),) and (3) scientific research publications measured against the three determinants of growth in Science, Technology and Innovation. The results show that, in the period of 2000-2012, the combined performance of LMIC countries in the Oceania region were relatively higher in the Services, value added (% of GDP) and High technology exports (% of manufactured exports) than LMICs in other regions. South America's LMICs performed relatively better under Industry, value added (% of GDP) than other LMICs. The study helps to understand whether investments made in scientific research in LMICs have corresponding effect on the production of Science, Technology and Innovation.