Latin America Preclinical Cro Market Size & Outlook
Latin America preclinical cro market, 2018-2030 (US$M)
Related Markets
Latin America preclinical cro market highlights
- The Latin America preclinical cro market generated a revenue of USD 245.1 million in 2023.
- The market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, toxicology testing was the largest revenue generating service in 2023.
- Bioanalysis and DMPK studies is the most lucrative service 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 245.1 million |
| Market revenue in 2030 | USD 390.1 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Toxicology testing |
| Fastest growing segment | Bioanalysis and DMPK studies |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Bioanalysis and DMPK studies, Toxicology Testing, Compound Management, Chemistry, Safety Pharmacology |
| Key market players worldwide | Eurofins Scientific SE, Icon PLC, Wuxi AppTec Co Ltd, Medpace Holdings Inc, Charles River Laboratories International Inc, Thermo Fisher Scientific Inc, Intertek Group PLC, Labcorp Holdings Inc, Crown Bioscience, SGA |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.3% of the global preclinical 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 1,865.2 million by 2030.
Toxicology testing was the largest segment with a revenue share of 22.52% in 2023. Horizon Databook has segmented the Latin America preclinical cro market based on bioanalysis and dmpk studies, toxicology testing, compound management, chemistry, safety pharmacology covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America currently holds a minor share in the global preclinical trial outsourcing market. However, the region is expected to witness considerable growth owing to the U.S. biopharmaceutical companies, resulting in reduced monitoring costs associated with outsourcing preclinical services. The growing number of preclinical CROs, rising investment in R&D, and increasing regulatory support for preclinical trials are expected to drive the growth of the preclinical outsourcing market in the region.
The rising demand for pharmaceutical products, favorable investments & government initiatives, demographic changes in the region, and the growing burden of diseases are some of the factors expected to drive the adoption of preclinical CRO services.
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Preclinical CRO Market Scope
Preclinical CRO Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America preclinical cro market size, by country, 2018-2030 (US$M)
Latin America Preclinical CRO Market Outlook Share, 2023 & 2030 (US$M)
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