South & Central America Genetic Testing Services Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Report Coverage:
  • Service Type (Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, Diagnostic Genetic Testing, Others)
  • Disease (Cancer, Cardiovascular Diseases, Metabolic Diseases, Other Diseases)
  • Service Provider (Hospital-Based Laboratories, Diagnostic Laboratories, Others)


No. of Pages: 186    |    Report Code: BMIRE00030244    |    Category: Life Sciences

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South & Central America Genetic Testing Services Market
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The South & Central America genetic testing services market size is expected to reach US$ 515.91 million by 2031 from US$ 186.42 million in 2023. The market is estimated to record a CAGR of 13.6% from 2023 to 2031.

Executive Summary and South & Central America Genetic Testing Services Market Analysis:

The genetic testing services market in South America is growing, driven by advancements in healthcare infrastructure, increasing awareness of genetic disorders, and rising demand for personalized medicine. Countries like Brazil, Argentina, and Chile are experiencing an uptick in genetic testing for applications such as cancer detection, prenatal screening, and rare genetic diseases. The market benefits from a growing focus on improving healthcare services and expanding access to advanced diagnostic tools. Additionally, government initiatives supporting genomic research and increasing healthcare investments are expected to further boost the adoption of genetic testing in the region, fueling its growth in the coming years.

South & Central America Genetic Testing Services Market Strategic Insights

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South & Central America Genetic Testing Services Market Segmentation Analysis

Key segments that contributed to the derivation of the genetic testing services market analysis are type, disease, and service provider

  • By type, the genetic testing services market is segmented into predictive testing, carrier testing, prenatal testing, newborn screening, diagnostic genetic testing, and others. The predictive testing held the largest share of the market in 2023.
  • By disease, the genetic testing services market is segmented into cancer, cardiovascular diseases, metabolic diseases, and other diseases. The cancer held the largest share of the market in 2023.
  • By service provider, the genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and other service providers. The hospital-based laboratories held the largest share of the market in 2023.
 

South & Central America Genetic Testing Services Market Outlook

Emerging countries such as China, India, Brazil, UAE, and Mexico offer significant growth opportunities to market players. The high growth can majorly be attributed to the increasing public healthcare expenditure, improving healthcare infrastructure, and the presence of a large target patient population. The need for genetic testing has also increased owing to a rise in awareness of genetic disorders in developing economies and their early diagnosis.

The ease and applicability of genetic testing procedures have benefitted R&D activities in developing regions worldwide. Major market players are focusing on strategies and initiatives, such as agreements, collaborations, partnerships, and expansions, to improve their product availability, accessibility, and distribution networks in these countries, as it will help them address the growing need for early diagnosis and treatment. For instance, in 2024, MGI Tech finalized an agreement with Sabin Group to enhance personalized medicine in Brazil through oncological and germline genomics. In the same year, PlexBio Co., Ltd., a leading provider of multiplex diagnostic solutions, announced a strategic partnership with Biomedica Equipamentos e Suprimentos Hospitalares Ltda. (Biomédica Brazil). This collaboration will introduce PlexBio's patented πCode detection platform and its molecular diagnostic products for cancer gene mutation testing to medical centers and diagnostic institutions throughout Brazil via Biomédica Brazil's distribution network. This milestone will significantly enhance the accessibility of cancer genetic testing in Brazil and represents an important advancement in promoting precision medicine in emerging markets. Also, in 2022, in an effort to advance personalized healthcare throughout Latin America, Nordic Group, a leader in nutrigenomics, has partnered with a Mexican laboratory to manage its DNAlife genetic testing platform. Through the partnership, Vitage Lab will oversee the nationwide training of medical professionals in the usage of Nordic Group's DNAlife genetic testing platform and distribute it. In 2019, GENOMIKA, one of the leading genetic testing laboratories in Brazil, reached an agreement with Veritas to incorporate Whole Genome Sequencing and all the services associated with these tests in the field of preventive medicine and clinical genetics into its portfolio. In addition, rising consumer awareness regarding DTC genetic tests in developing economies offers growth opportunities to the DTC industry.

Therefore, emerging markets in developing countries are expected to offer significant opportunities to the players operating in the market and boost the market growth during the forecast period.

South & Central America Genetic Testing Services Market Country Insights

Based on country, the South & Central America genetic testing services market comprises Brazil, Argentina, and the Rest of South & Central America. Brazil held the largest share in 2023.

The rising prevalence of genetic disease, along with chronic illness, is the primary factor driving the growth of the genetic testing market in Brazil. As per a study titled "Medical genetics workforce in Brazil: practitioners, services, and disease distribution," published in 2021, in 2019–2020, ~53,746 live births were with rare genetic diseases, and 498 live births were with a hereditary cancer syndrome in Brazil. Similarly, as per a study titled "The Brazilian Rare Genomes Project," published in May 2022, 13.2 million individuals were affected by rare diseases in Brazil. In addition, the growing demand for personalized medicines and genetic testing to detect and treat such conditions fuels the market. The introduction of technology in disease diagnosis, the focus of industry players in developing new molecular diagnostic techniques to provide faster results with high accuracy, and strategic initiatives by the manufacturers will favor the growth of the market. In 2019, GENOMIKA, one of the leading genetic testing laboratories in Brazil, reached an agreement with Veritas to incorporate Whole Genome Sequencing and all the services associated with these tests in the field of preventive medicine and clinical genetics into its portfolio.

South & Central America Genetic Testing Services Market Report Highlights

Report Attribute Details
Market size in 2023 US$ 186.42 Million
Market Size by 2031 US$ 515.91 Million
Global CAGR (2023 - 2031) 13.6%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Service Type
  • Predictive Testing
  • Carrier Testing
  • Prenatal Testing
  • Newborn Screening
  • Diagnostic Genetic Testing
  • Others
By Disease
  • Cancer
  • Cardiovascular Diseases
  • Metabolic Diseases
  • Other Diseases
By Service Provider
  • Hospital-Based Laboratories
  • Diagnostic Laboratories
  • Others
Regions and Countries Covered South and Central America
  • Brazil
  • Argentina
  • the South and Central America
Market leaders and key company profiles
  • Eurofins Scientific SE
  • Exact Sciences Corp
  • Laboratory Corp of America Holdings
  • 23andMe Holding Co
  • Ambry Genetics Corp
  • Quest Diagnostics Inc
  • Illumina Inc
  • F. Hoffmann-La Roche Ltd
  • NeoGenomics Inc
  • Centogene NV
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    South & Central America Genetic Testing Services Market Company Profiles

    Some of the key players operating in the market include Eurofins Scientific SE, Exact Sciences Corp, Laboratory Corp of America Holdings, 23andMe Holding Co, Ambry Genetics Corp, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, NeoGenomics Inc, Centogene NV, Ancestry Genomics Inc, Gene By Gene Ltd, SIVOTEC BioInformatics LLC, Progenesis, Fulgent Genetics, Inc, VERITAS INTERCONTINENTAL, and GeneDx, LLC among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

    South & Central America Genetic Testing Services Market Research Methodology :

    The following methodology has been followed for the collection and analysis of data presented in this report:

    • Secondary Research

    The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

    • Company websites, annual reports, financial statements, broker analyses, and investor presentations.
    • Industry trade journals and other relevant publications.
    • Government documents, statistical databases, and market reports.
    • News articles, press releases, and webcasts specific to companies operating in the market.

    Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

    • Primary Research

    Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:

    • Validate and refine findings from secondary research.
    • Enhance the expertise and market understanding of the analysis team.
    • Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

    Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

    • Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
    • External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

    South & Central America Genetic Testing Services Market Country and Regional Insights

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    The List of Companies - South & Central America Genetic Testing Services Market

    • Eurofins Scientific SE
    • Exact Sciences Corp
    • Laboratory Corp of America Holdings
    • 23andMe Holding Co
    • Ambry Genetics Corp
    • Quest Diagnostics Inc
    • Illumina Inc
    • F. Hoffmann-La Roche Ltd
    • NeoGenomics Inc
    • Centogene NV
    • Ancestry Genomics Inc
    • Gene By Gene Ltd
    • SIVOTEC BioInformatics LLC
    • Progenesis
    • Fulgent Genetics, Inc
    • VERITAS INTERCONTINENTAL
    • GeneDx, LLC
    Frequently Asked Questions
    How big is the South & Central America Genetic Testing Services Market?

    The South & Central America Genetic Testing Services Market is valued at US$ 186.42 Million in 2023, it is projected to reach US$ 515.91 Million by 2031.

    What is the CAGR for South & Central America Genetic Testing Services Market by (2023 - 2031)?

    As per our report South & Central America Genetic Testing Services Market, the market size is valued at US$ 186.42 Million in 2023, projecting it to reach US$ 515.91 Million by 2031. This translates to a CAGR of approximately 13.6% during the forecast period.

    What segments are covered in this report?

    The South & Central America Genetic Testing Services Market report typically cover these key segments-

    • Service Type (Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, Diagnostic Genetic Testing, Others)
    • Disease (Cancer, Cardiovascular Diseases, Metabolic Diseases, Other Diseases)
    • Service Provider (Hospital-Based Laboratories, Diagnostic Laboratories, Others)

    What is the historic period, base year, and forecast period taken for South & Central America Genetic Testing Services Market?

    The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Genetic Testing Services Market report:

  • Historic Period : 2021-2022
  • Base Year : 2023
  • Forecast Period : 2024-2031
  • Who are the major players in South & Central America Genetic Testing Services Market?

    The South & Central America Genetic Testing Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:

  • Eurofins Scientific SE
  • Exact Sciences Corp
  • Laboratory Corp of America Holdings
  • 23andMe Holding Co
  • Ambry Genetics Corp
  • Quest Diagnostics Inc
  • Illumina Inc
  • F. Hoffmann-La Roche Ltd
  • NeoGenomics Inc
  • Centogene NV
  • Ancestry Genomics Inc
  • Gene By Gene Ltd
  • SIVOTEC BioInformatics LLC
  • Progenesis
  • Fulgent Genetics, Inc
  • VERITAS INTERCONTINENTAL
  • GeneDx, LLC
  • Who should buy this report?

    The South & Central America Genetic Testing Services Market report is valuable for diverse stakeholders, including:

    • Investors: Provides insights for investment decisions pertaining to market growth, companies, or industry insights. Helps assess market attractiveness and potential returns.
    • Industry Players: Offers competitive intelligence, market sizing, and trend analysis to inform strategic planning, product development, and sales strategies.
    • Suppliers and Manufacturers: Helps understand market demand for components, materials, and services related to concerned industry.
    • Researchers and Consultants: Provides data and analysis for academic research, consulting projects, and market studies.
    • Financial Institutions: Helps assess risks and opportunities associated with financing or investing in the concerned market.

    Essentially, anyone involved in or considering involvement in the South & Central America Genetic Testing Services Market value chain can benefit from the information contained in a comprehensive market report.

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