Latin America Pharmaceutical Cro Market Size & Outlook
Latin America pharmaceutical cro market, 2018-2030 (US$M)
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Latin America pharmaceutical cro market highlights
- The Latin America pharmaceutical cro market generated a revenue of USD 3,686.8 million in 2024.
- The market is expected to grow at a CAGR of 6.2% from 2025 to 2030.
- In terms of segment, clinical was the largest revenue generating type in 2024.
- Pre-Clinical is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 3,686.8 million |
| Market revenue in 2030 | USD 5,292.5 million |
| Growth rate | 6.2% (CAGR from 2024 to 2030) |
| Largest segment | Clinical |
| Fastest growing segment | Pre-Clinical |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Drug Discovery, Pre-Clinical, Clinical |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.9% of the global pharmaceutical cro market in 2024.
- Globally, Asia Pacific 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 32,105.5 million by 2030.
Clinical was the largest segment with a revenue share of 75.51% in 2024. Horizon Databook has segmented the Latin America pharmaceutical cro market based on drug discovery, pre-clinical, clinical covering the revenue growth of each sub-segment from 2018 to 2030.
In Latin America, the demand for outsourcing services is rapidly emerging with the growing demand for pharmaceutical drugs, increasing the requirement for specialized CRO knowledge & expertise to launch and commercialize products successfully.
Besides, the production of innovative drugs is strongly driven by robust research & development, the presence of established companies, the affordability of services offered by its CROs, and the increasing participation of emerging regional players in the pharmaceutical industries.
For instance, in October 2023, Emmes, a global Clinical Research Organization (CRO), mentioned the acquisition of Vax TRIALS. Headquartered in Panama. The company’s support to manage staff and monitor vaccine clinical trial activities across Latin America.
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Pharmaceutical CRO Market Scope
Pharmaceutical CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America pharmaceutical cro market size, by country, 2018-2030 (US$M)
Latin America Pharmaceutical CRO Market Outlook Share, 2024 & 2030 (US$M)
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