Argentina Laboratory Developed Tests Market Size & Outlook
Argentina laboratory developed tests market, 2018-2030 (US$M)
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Argentina laboratory developed tests market highlights
- The Argentina laboratory developed tests market generated a revenue of USD 50.4 million in 2023 and is expected to reach USD 60.1 million by 2030.
- The Argentina market is expected to grow at a CAGR of 2.6% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 50.4 million |
| Market revenue in 2030 | USD 60.1 million |
| Growth rate | 2.6% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, Argentina accounted for 0.4% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 442.5 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Argentina laboratory developed tests 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 laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 23.02% in 2023. Horizon Databook has segmented the Argentina laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
The LDT market in the country is expected to show significant growth over the forecast period due to increased prevalence of cancer, supportive government initiatives like funding & awareness programs, and extensive R&D activities enabling development of novel therapies to treat cancer. According to the Globocan 2020, in 2020, 130,878 new cancer cases were reported in the country.
Among these, 62,327 cases were in males, while 68,551 were in females. Breast cancer, prostate cancer, colorectal cancer, lung cancer, and kidney cancer are the most common types of cancers. Hence, to increase awareness about cancer, several organizations were established, such as the Global Lung Cancer Coalition (GLCC), an alliance of patient organizations.
This organization provides education to patients about recognizing symptoms and is focused on improving outcomes in cancer patients. Moreover, commercialization of rapid test kits is likely to have a positive impact on the LDT market.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Argentina laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into Argentina laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Argentina laboratory developed tests market size, by technology, 2018-2030 (US$M)
Argentina Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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