Latin America Clinical Laboratory Services Market Growth 2031
Latin America Clinical Laboratory Services Market Growth 2031
Segments - Latin America Clinical Laboratory Services Market by Test Types (Human & Tumor Genetics, Clinical Chemistry, Medical Microbiology & Cytology, and Other Esoteric Tests), Service Providers (Hospital-based, Standalone, and Clinic-based), Applications (Drug Discovery, Drug Development, Bioanalytical & Lab Chemistry, Toxicology, Cell & Gene Therapy, Preclinical & Clinical Trial, and Others) and Geography (Brazil, Mexico, Colombia, Peru, and Rest of Latin America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
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| Report ID :HC-1758
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Report Description
Latin America Clinical Laboratory Services Market Outlook 2031:
The Latin America clinical laboratory services market size was valued at USD 12.68 Billion in 2022 and is projected to reach USD 17.43 Billion by 2031, expanding at a CAGR of 3.6% during the forecast period 2023 - 2031. The growth of the market is attributed to the increasing burden of chronic diseases and rising demand for diagnostic tests in the region.
There is a significant increase in the complexities and volume of data in clinical trials. The healthcare sector globally is pushing towards a significant shift to increase inflow of new clinical trials, which are based on structured, standardized, and consumer interest. In the region, clinical research is given a prime importance as to find advanced solutions for the rising prevalence of chronic and targeted diseases.
The clinical labs are constantly upgraded with innovative technique and converting into automation besides following the international standards. These automated solutions enable speedy process of sample testing, which result in reducing human errors and labor costs by integration of electronic, mechanical, and informatics tools.
Growing adoption rates of laboratory automation systems in clinical settings across the globe is creating lucrative opportunities for the market growth. Further, increasing adoption of database management tools, integrated workflow management systems, and patient test records are gaining significant traction in the healthcare industry.
On average, companies are providing laboratory services that ensure processing of around 100 to 150 billion samples every year. However, sample creation and successful experimentation has been a key challenge in clinical testing labs and several market players are continuously focusing to address this issue. For instance, vendors are focusing on adoption of 384-well plates instead of 96-well plates, to cut reagent costs and time taken for performing assays. The 384-well plates cut cost and time by half as compared to the 96-well plates.
Latin America Clinical Laboratory Services Market Drivers, Restraints, Trends, and Opportunities
- Rapid advance in data management and sample preparation owing to growing volumes of testing samples is projected to boost the market growth during the forecast period.
- Growing investments by key players in the market of Latin America and rising development of clinical laboratories to expand medical research and drug discovery are expected to boost the revenue generation during the forecast period.
- Growing adoption of laboratory automation systems as well as improvement of informatics and automated data management solutions in clinical labs to help perform seamless operations are expected to drive the market growth.
- Complexity in the sample preparation and lack of skilled technicians handling the testing procedures through experimental protocols with productivity enhancement are posing key challenges that can impede the regional market growth.
- The outbreak of COVID-19 pandemic has adversely affected the market growth. The diagnostic virology of this region has been under immense pressure to provide reliable testing kits for the possible Sars-Cov-2 infection to stop the virus spread.
Scope of the Latin America Clinical Laboratory Services Market Report
The report on the Latin America clinical laboratory services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Latin America Clinical Laboratory Services Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Test Types (Human & Tumor Genetics, Clinical Chemistry, Medical Microbiology & Cytology, and Other Esoteric Tests), Service Providers (Hospital-based, Standalone, and Clinic-based) and Applications (Drug Discovery, Drug Development, Bioanalytical & Lab Chemistry, Toxicology, Cell & Gene Therapy, Preclinical & Clinical Trial, and Others) |
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Geographical Scope |
Brazil, Mexico, Colombia, Peru, and Rest of Latin America |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Fresenius Medical Care AG & Co. KGaA, Qiagen, DaVita Inc., Charles River Laboratories, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics, OPKO Health Inc. and DASA. |
Latin America Clinical Laboratory Services Market Segment Insights
Clinical Chemistry segment is projected to represent a considerable market share
On the basis of test types, the Latin America clinical laboratory services market is bifurcated into human & tumor genetics, clinical chemistry, medical microbiology & cytology and other esoteric tests. The clinical chemistry segment is projected to represent a considerable market share during the forecast period. The presence of a large number of body fluid-based screening solutions is projected to spur the segment growth.
They consist of urinalysis, sweat chloride, semen analysis, fetal fibronectin (fFN), synovial fluid analysis, and amniotic fluid analysis. For example, Alere’s Oral Fluid Testing Services is used to test substances of abuse.
Additionally, clinical chemistry services offer extensive range of specialties such as liver function and renal function tests coupled with resolution of various physiological substances including cardiac markers, minerals, hormones, proteins, hemoglobin, vitamins, and electrolytes.
Recent advancements in the fluid-based cancer tests include liquid-based Pap test for cancer screening. Companies such as BD Biosciences are providing a path for liquid-based pap tests, thereby driving the segment growth.
Clinical-based segment is anticipated to constitute a large market share
Based on services types, the market is segmented into hospital-based, standalone, and clinic-based. The clinical-based segment is anticipated to constitute a large market share during the forecast period owing to rising consolidation of clinical-based laboratories with physicians’ offices and other professional units. Moreover, the availability of specialized and easy accessibility of the clinical-based units are pushing to the segment growth.
On the other hand, the hospital-based segment is projected to exhibit a healthy CAGR during the forecast period since these laboratories are able to provide accurate data on diagnostics and treatment procedures, which help the physicians in effective decision making.
Bioanalytical & lab chemistry segment to account for a significant market share
On the basis of applications, the Latin America clinical laboratory services market is divided into drug discovery, drug development, bioanalytical & lab chemistry, toxicology, cell & gene therapy, preclinical & clinical trial, and others. The bioanalytical & lab chemistry segment is estimated to account for a significant market share owing to the rapidly growing adoption of point-of-care diagnostic tests that help the patients to get their routine checkups done at a reasonable cost.
Additionally, growing prevalence of cardiovascular diseases and cholesterol & lipid profile testing is mandatory in order to avoid complications in future.
Meanwhile, the toxicology segment is expected to expand at a high CAGR during the forecast period. The presence of a global network of AAALAC-accredited preclinical facilities, which are designed to conduct in-vivo and in-vitro safety programs to characterize the potential human drug toxicity. Additionally, growing awareness regarding environmental pollution is compelling the companies to focus on introduction of sensitive and reliable solutions.
For instance, Alere is offering state-of-the-art technology, skilled laboratory personnel, and automated computer systems. It provides reliable and accurate toxicology analysis of millions of specimens.
Mexico is projected to constitute a considerable market share
In terms of geography, the market is categorized as Brazil, Mexico, Colombia, Peru, and Rest of Latin America. Mexico is projected to constitute a considerable market share in the coming years owing to increasing number of accredited clinical laboratories. The country, as per a data, expanded its clinical laboratory facilities from 18 in 2009 to 81 in 2015.
Several governments in this region are encouraging healthcare initiatives by providing favorable regulations for lab tests and trials by local and multinational firms. According the World Bank, Argentina has introduced a healthcare reform, which allows the private players are needed to be working with the government. This is expected to push the market expansion in the region through providing affordable test and services for the general people.
Segments
The Latin America clinical laboratory services market has been segmented on the basis of
Test Types
- Human & Tumor Genetics
- Clinical Chemistry
- Medical Microbiology & Cytology
- Other Esoteric Tests
Service Providers
- Hospital-based
- Standalone
- Clinic-based
Applications
- Drug Discovery
- Drug Development
- Bioanalytical & Lab Chemistry
- Toxicology
- Cell & Gene Therapy
- Preclinical & Clinical Trial
Geography
- Brazil
- Mexico
- Colombia
- Peru
- Rest of Latin America
Key Players
- Fresenius Medical Care AG & Co. KGaA
- Qiagen
- DaVita Inc.
- Charles River Laboratories
- Laboratory Corporation of America Holdings (LabCorp)
- Quest Diagnostics
- OPKO Health Inc.
- DASA
Competitive Landscape
Some of the key players competing in the Latin America clinical laboratory services market are Fresenius Medical Care AG & Co. KGaA, Qiagen, DaVita Inc., Charles River Laboratories, Laboratory Corporation of America Holdings (LabCorp), Quest Diagnostics, OPKO Health Inc. and DASA. Many of these players are controlling a significant market share owing to their geographic presence, company size, segment coverage, and undertaken marketing strategies.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Clinical Laboratory Services Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Clinical Laboratory Services Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Clinical Laboratory Services Market - Supply Chain
4.5. Global Clinical Laboratory Services Market Forecast
4.5.1. Clinical Laboratory Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Clinical Laboratory Services Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Clinical Laboratory Services Market Absolute $ Opportunity
5. Global Clinical Laboratory Services Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Clinical Laboratory Services Market Size and Volume Forecast by Types
5.3.1. Human & Tumor Genetics
5.3.2. Clinical Chemistry
5.3.3. Medical Microbiology & Cytology
5.3.4. Other Esoteric Tests
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Clinical Laboratory Services Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Clinical Laboratory Services Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Clinical Laboratory Services Demand Share Forecast, 2019-2026
7. North America Clinical Laboratory Services Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Clinical Laboratory Services Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Clinical Laboratory Services Market Size and Volume Forecast by Types
7.4.1. Human & Tumor Genetics
7.4.2. Clinical Chemistry
7.4.3. Medical Microbiology & Cytology
7.4.4. Other Esoteric Tests
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Clinical Laboratory Services Demand Share Forecast, 2019-2026
8. Latin America Clinical Laboratory Services Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Clinical Laboratory Services Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Clinical Laboratory Services Market Size and Volume Forecast by Types
8.4.1. Human & Tumor Genetics
8.4.2. Clinical Chemistry
8.4.3. Medical Microbiology & Cytology
8.4.4. Other Esoteric Tests
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Clinical Laboratory Services Demand Share Forecast, 2019-2026
9. Europe Clinical Laboratory Services Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Clinical Laboratory Services Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Clinical Laboratory Services Market Size and Volume Forecast by Types
9.4.1. Human & Tumor Genetics
9.4.2. Clinical Chemistry
9.4.3. Medical Microbiology & Cytology
9.4.4. Other Esoteric Tests
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Clinical Laboratory Services Demand Share Forecast, 2019-2026
10. Asia Pacific Clinical Laboratory Services Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Clinical Laboratory Services Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Clinical Laboratory Services Market Size and Volume Forecast by Types
10.4.1. Human & Tumor Genetics
10.4.2. Clinical Chemistry
10.4.3. Medical Microbiology & Cytology
10.4.4. Other Esoteric Tests
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Clinical Laboratory Services Demand Share Forecast, 2019-2026
11. Middle East & Africa Clinical Laboratory Services Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Clinical Laboratory Services Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Clinical Laboratory Services Market Size and Volume Forecast by Types
11.4.1. Human & Tumor Genetics
11.4.2. Clinical Chemistry
11.4.3. Medical Microbiology & Cytology
11.4.4. Other Esoteric Tests
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Clinical Laboratory Services Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Clinical Laboratory Services Market: Market Share Analysis
12.2. Clinical Laboratory Services Distributors and Customers
12.3. Clinical Laboratory Services Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Fresenius Medical Care AG & Co. KGaA
12.4.2. Qiagen
12.4.3. DaVita Inc.
12.4.4. Charles River Laboratories
12.4.5. Laboratory Corporation of America Holdings (LabCorp)
12.4.6. Quest Diagnostics
12.4.7. OPKO Health Inc.
Methodology
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