Latin America Virus Safety Testing Services Market Size & Outlook
Latin America virus safety testing services market, 2016-2028 (US$M)
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Latin America virus safety testing services market highlights
- The Latin America virus safety testing services market generated a revenue of USD 47.2 million in 2021.
- The market is expected to grow at a CAGR of 13.7% from 2022 to 2028.
- In terms of segment, adventitious virus tests was the largest revenue generating test type in 2021.
- Adventitious Virus Tests is the most lucrative test type segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2021 | USD 47.2 million |
| Market revenue in 2028 | USD 116.0 million |
| Growth rate | 13.7% (CAGR from 2021 to 2028) |
| Largest segment | Adventitious virus tests |
| Fastest growing segment | Adventitious Virus Tests |
| Historical data covered | 2016 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2028 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Adventitious Virus Tests, Antibody Production Tests, Retrovirus Tests, Specific Virus Tests, Other Tests |
Other key industry trends
- In terms of revenue, Latin America region accounted for 7.0% of the global virus safety testing services market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 368.0 million by 2028.
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Virus Safety Testing Services Market Scope
Virus Safety Testing Services Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America virus safety testing services 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 virus safety testing services market will help companies and investors design strategic landscapes.
Adventitious virus tests was the largest segment with a revenue share of 36.44% in 2021. Horizon Databook has segmented the Latin America virus safety testing services market based on adventitious virus tests, antibody production tests, retrovirus tests, specific virus tests, other tests covering the revenue growth of each sub-segment from 2016 to 2028.
Virus safety testing services in Latin America in the current market scenario are associated with growing biotechnology and biopharmaceutical industries in key regions, including Brazil & Mexico. Brazil is expected to be the most lucrative country in the region. There are ample opportunities for R&D and the production of biopharmaceutical products in Brazil.
Thus, it is anticipated to create a major demand for virus safety testing services for conducting research. Furthermore, increasing initiatives to boost the production of biological products in the country is anticipated to support market growth. In June 2020, Brazil signed a USD 127 million agreement with UK-based AstraZeneca to start production of AstraZeneca’s experimental COVID-19 vaccine in Brazil.
This vaccine will be produced by the country’s leading public health organization, Fundação Osvaldo Cruz, also known as Fiocruz. A cluster of researchers in Argentina is working on getting monoclonal antibodies from llamas and hens to produce a drug & vaccine for COVID-19.
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Our clientele includes a mix of virus safety testing services market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America virus safety testing services market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America virus safety testing services market from 2016 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America Virus Safety Testing Services Market Outlook Share, 2021 & 2028 (US$M)
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