Report : Brazil Diagnostic Labs Market Forecast to 2028 – COVID-19 Impact and Country Analysis – by Lab Type (Hospital-Based Labs, Single/Independent Laboratories, Physician Office Labs, and Others), Testing Services [Physiological Function Testing (ECG, Echo, X-Ray, Endoscopy, CT, MRI, and Others), General and Clinical Testing, Esoteric Testing, Specialized Testing, Non-Invasive Prenatal Testing, COVID-19 Testing, and Others], and Revenue Source (Healthcare Plan Operators and Insurers, Out-of-Pocket, and Public System)
Hospital-Based Labs Segment to Lead Brazil Diagnostic Labs Market During 2022–2028
According to our latest study on “Brazil Diagnostic Labs Market Forecast to 2028 – COVID-19 Impact and Country Analysis – by Lab Type, Testing Services, and Revenue Source,” the market is expected to grow from US$ 13,367.60 million in 2022 to US$ 24,334.07 million by 2028; it is estimated to grow at a CAGR of 10.5% from 2022 to 2028. The report highlights the major factors driving the market and prominent players with their developments. The market growth is primarily driven by the rising chronic diseases prevalence and increasing ageing population. However, the shortage of skilled professionals and high costs of diagnostic equipment hamper the market growth.
The COVID-19 pandemic significantly impacted the diagnosis of infectious diseases and operations of clinical laboratories due to the shortages of reagents and supplies. The increased workload forced laboratories to arrange personnel and resources to perform SARS-CoV-2 testing. Therefore, the diagnostic testing of other infectious diseases of public health importance, such as sexually transmitted infections (STIs) and healthcare-associated infections (HAIs), was deprioritized. Rapid diagnosis and testing were paramount for allocating hospital resources, appropriate patient cohorts, administering effective therapeutic measures, and implementing adequate quarantining procedures. Companies manufacturing diagnostic assays witnessed a rapid upsurge in their research and development efforts to develop tests for SARS-CoV-2 that causes COVID-19. All diagnostic companies worked toward a common goal to rapidly bring a susceptible and specific test forCOVID-19 in the market and make it accessible to clinical laboratories to meet patient needs and guide the isolation practices for probable infectious individuals. However, owing to the unprecedented nature of the outbreak, the industry overall encountered tremendous challenges in terms of the available workforce, production capacity, and ongoing supply chain issues.
Based on lab type, the Brazil diagnostic labs market is segmented into hospital-based labs, single/independent laboratories, physician office labs, and others. The hospital-based labs segment holds the largest market share in 2022. Moreover, the single/independent laboratories segment is expected to register the highest CAGR during the forecast period. Hospitals are the prominent contributors to the diagnostic laboratory services industry. Hospital-based labs provide tests and diagnostics for inpatient and outpatient requirements and walk-in patients who intent to take advantages of the medical expertise at the facilities post receiving the results. Hospital-based laboratories generally perform more tests than all the other laboratory types, combined. One of the major drivers for the competition between independent labs and hospital-based labs is the presence of various government regulations and insurers. For instance, the CMS (Federal Centers for Medicare and Medicaid Services) provides more funds for hospital-based laboratory services as compared to independent laboratories. In addition, medical personnels and clinicians are available 24/7 in hospital-based labs to deliver advanced and experienced diagnostic solutions. Owing to the presence of electronic health records, hospital-based labs have the distinct advantage of faster delivery of test results to doctors and patients. Medical laboratories or clinical laboratories offer a wide array of lab-based procedures to help physicians diagnose, treat, and manage patients efficiently. Most clinical labs are located near hospitals to give physicians and their patients easier access.
The factors mentioned above would drive the Brazil diagnostic labs market growth in the coming years.
Dasa Labs, Quest Diagnostics Incorporated, SYNLAB-Solutions in Diagnostics, Grupo Fleury, Hospital Israelita Albert Einstein, Alliar, Boris Berenstein Diagnostic Center, Clinica da Imagem do Tocantis, Abramed, and Hermes Pardini are among the leading players operating in the Brazil diagnostic labs market.
The report segments the Brazil diagnostic labs market as follows:
Based on lab type, the Brazil diagnostic labs market is segmented into hospital-based labs, single/independent laboratories, physician office labs, and others. Based on testing services, the market is segmented into physiological function testing, general and clinical testing, COVID-19 testing, esoteric testing, specialized testing, non invasive prenatal testing, and others. The market for the physiological function testing segment is further segmented into endoscopy, X-ray, CT, MRI, echo, and others. Based on revenue source, the Brazil diagnostic labs market is segmented into healthcare plan operators and insurers, out-of-pocket, and public system. By cities, the market is segmented into Rio de Janeiro, São Paulo, Salvador, Brasilia, and other cities.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email Id: email@example.com