Latin America In Vivo Cro Market Size & Outlook, 2023-2030
Latin America in vivo cro market, 2018-2030 (US$M)
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Latin America in vivo cro market highlights
- The Latin America in vivo cro market generated a revenue of USD 145.3 million in 2023.
- The market is expected to grow at a CAGR of 8.4% from 2024 to 2030.
- In terms of segment, small molecule was the largest revenue generating modality type in 2023.
- Large Molecule is the most lucrative modality type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 145.3 million |
| Market revenue in 2030 | USD 256.2 million |
| Growth rate | 8.4% (CAGR from 2023 to 2030) |
| Largest segment | Small molecule |
| Fastest growing segment | Large Molecule |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Small Molecule, Large Molecule |
| Key market players worldwide | IQVIA Holdings Inc, JSR Corp, Taconic Biosciences, Evotec SE, Janvier Labs, Charles River Laboratories International Inc, Icon PLC, Labcorp Holdings Inc, PAREXEL, GemPharmatech, PsychoGenics, Biocytogen, SMO-Group |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.1% of the global in vivo cro 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 823.6 million by 2030.
Small molecule was the largest segment with a revenue share of 63.66% in 2023. Horizon Databook has segmented the Latin America in vivo cro market based on small molecule, large molecule covering the revenue growth of each sub-segment from 2018 to 2030.
The market in Latin America is expected to witness lucrative growth over the forecast period. Several organizations in this region are working toward conducting quality in vivo testing. Government reforms are expected to boost the demand for pharmaceutical products, creating a need for in vivo testing in the region.
Furthermore, increased R&D investment in the country, coupled with a surge in the number of drugs undergoing preclinical testing, is anticipated to significantly enhance market growth. The Latin American pharmaceutical and biopharmaceutical sectors are characterized by notably high R&D expenditures. In addition, the outsourcing of preclinical services by several pharmaceutical organizations is expected to drive the growth of the market.
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In Vivo CRO Market Scope
In Vivo CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America in vivo cro market size, by country, 2018-2030 (US$M)
Latin America In Vivo CRO Market Outlook Share, 2023 & 2030 (US$M)
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