Market revenue in 2023 | USD 41.3 million |
Market revenue in 2030 | USD 82.5 million |
Growth rate | 10.4% (CAGR from 2023 to 2030) |
Largest segment | Biorepository services |
Fastest growing segment | Biorepository Services |
Historical data | 2018 - 2022 |
Base year | 2023 |
Forecast period | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Biorepository Services, Archiving Solution Services |
Key market players worldwide | Azenta Inc, Thermo Fisher Scientific Inc, Precision for Medicine, Medpace Holdings Inc, Labcorp Drug Development, ATCC, Q2 Solutions, LabConnect, Charles River Laboratories International Inc |
Biorepository services was the largest segment with a revenue share of 66.34% in 2023. Horizon Databook has segmented the Brazil clinical trial biorepository & archiving solutions market based on biorepository services, archiving solution services covering the revenue growth of each sub-segment from 2018 to 2030.
Brazil accounts for 30.00% of the total trials conducted in Latin America owing to low cost, ease in patient recruitment, and presence of a diverse patient population. Changing regulation and logistics are primary challenges for biopharmaceutical companies and CROs, which is restraining entry into this market.
The regulatory approval process is stringent, as it involves approval from two entities Comissão Nacional de Ética em Pesquisa (CONEP) and Agência Nacional de Vigilância Sanitária (ANVISA).
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