Latin America Central Lab Market Size & Outlook, 2023-2030
Latin America central lab market, 2018-2030 (US$M)
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Latin America central lab market highlights
- The Latin America central lab market generated a revenue of USD 158.9 million in 2023.
- The market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, biomarker services was the largest revenue generating services in 2023.
- Genetic Services is the most lucrative services segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 158.9 million |
| Market revenue in 2030 | USD 245.3 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Biomarker services |
| Fastest growing segment | Genetic Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Genetic Services, Biomarker Services, Microbiology Services, Anatomic Pathology/Histology, Specimen Management & Storage, Special Chemistry Services |
| Key market players worldwide | LabConnect, Eurofins Scientific SE, A. P. Moller Maersk A/S ADR, ACM Global, Cerba Research, Synevo Central Labs, Versiti, Cenetron, Ampersand Capital Partners, Pacific Biomarkers, Cirion |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.8% of the global central lab 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 1,201.9 million by 2030.
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Central Lab Market Scope
Central Lab Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America central lab market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to central lab market will help companies and investors design strategic landscapes.
Biomarker services was the largest segment with a revenue share of 38.51% in 2023. Horizon Databook has segmented the Latin America central lab market based on genetic services, biomarker services, microbiology services, anatomic pathology/histology, specimen management & storage, special chemistry services covering the revenue growth of each sub-segment from 2018 to 2030.
Rising incidence of cancer, availability of a genetically diverse patient pool, and growing prevalence of chronic diseases are among the factors expected to fuel market growth in Latin America.
According to Globocan 2020, about 1.4 million people were diagnosed with cancer, and the disease led to more than 713,000 deaths in Latin America & the Caribbean in 2020. As a result, there are substantial opportunities for the invention of advanced therapies and novel treatment options.
The rising adoption of personalized medicines and increasing demand for novel therapeutics have resulted in various collaborative approaches from pharmaceutical companies for the management of complexities associated with clinical trials.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America central lab market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America central lab market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America central lab market size, by country, 2018-2030 (US$M)
Latin America Central Lab Market Outlook Share, 2023 & 2030 (US$M)
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