Latin America In-vitro Toxicology Testing Market Size & Outlook
Latin America in-vitro toxicology testing market, 2018-2030 (US$M)
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Latin America in-vitro toxicology testing market highlights
- The Latin America in-vitro toxicology testing market generated a revenue of USD 1,490.9 million in 2023.
- The market is expected to grow at a CAGR of 9.2% from 2024 to 2030.
- In terms of segment, pharmaceutical industry was the largest revenue generating end user in 2023.
- Diagnostics is the most lucrative end user 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 1,490.9 million |
| Market revenue in 2030 | USD 2,759.1 million |
| Growth rate | 9.2% (CAGR from 2023 to 2030) |
| Largest segment | Pharmaceutical industry |
| Fastest growing segment | Diagnostics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Pharmaceutical Industry, Cosmetics And Household Products, Academic Institutes and Research Laboratories, Diagnostics, Chemicals Industry, Food Industry |
| Key market players worldwide | Charles River Laboratories International Inc, SGS, Merck KGaA, Eurofins Scientific SE, Abbott Laboratories, Labcorp Holdings Inc, Evotec SE, Thermo Fisher Scientific Inc, Quest Diagnostics Inc, Agilent Technologies Inc, Catalent Inc, Danaher Corp, Bio-Rad Laboratories Inc |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.8% of the global in-vitro toxicology testing market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 32,265.4 million by 2030.
Pharmaceutical industry was the largest segment with a revenue share of 43.26% in 2023. Horizon Databook has segmented the Latin America in-vitro toxicology testing market based on pharmaceutical industry, cosmetics and household products, academic institutes and research laboratories, diagnostics, chemicals industry, food industry covering the revenue growth of each sub-segment from 2018 to 2030.
In Latin America, guidelines by the International Council for Harmonisation of Technical Requirements for Pharmaceuticals for Human Use (ICH) are being adopted by countries for the harmonization of the development and approval of new medicines.
Constant improvements in regulatory enforcement bodies, quality investigators, proactive Good Clinical Practice (GCP), and policy development are significantly contributing to the explosive growth of drug development in the region. This, in turn, is anticipated to fuel the adoption of in vitro toxicology screening services in the region.
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In-vitro Toxicology Testing Market Scope
In-vitro Toxicology Testing Market Companies
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Latin America in-vitro toxicology testing market size, by country, 2018-2030 (US$M)
Latin America In-vitro Toxicology Testing Market Outlook Share, 2023 & 2030 (US$M)
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