South & Central America Microbiology CRO Services Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 134 | Report Code: BMIRE00032145 | Category: Life Sciences
No. of Pages: 134 | Report Code: BMIRE00032145 | Category: Life Sciences
The South & Central America microbiology CRO services market size is expected to reach US$ 336.05 million by 2031 from US$ 196.29 million in 2023. The market is estimated to record a CAGR of 7.0% from 2023 to 2031.
The South & Central America microbiology CRO services market is segmented into Brazil, Argentina, and the Rest of South and Central America. South & Central America occupies a significant position in the microbiology CRO services market and is expected to register a robust growth rate over the forecast period. The major driving factors include a surge in clinical trials, innovation in the clinical trial process by drug manufacturers, and government initiatives to support the clinical trials.
Key segments that contributed to the derivation of the South & Central America microbiology CRO services market analysis are application, service type, microorganisms, and end user.
Microbial testing service provider CROs have formed numerous partnerships with other stakeholders to expand their service offerings in microbial testing. The partnership activity increased notably in 2022 and 2023, with a focus on acquisitions, manufacturing agreements, and product development, driven by the growing demand for biopharmaceuticals. In August 2023, Frontage Laboratories, Inc. and its subsidiary, Frontage Canada, Inc., acquired Nucro-Technics Inc. and its affiliate, Nucro-Technics Holdings, Inc., a pharmaceutical contract research organization offering various services. Similarly, in October 2022, NAMSA, a leading MedTech CRO, acquired Perfectus Biomed Group, a UK-based laboratory specializing in customized microbiological services. This acquisition expanded NAMSA's presence in the UK and other regions, allowing it to serve clients in over 20 locations spanning the Americas, Asia, and Europe. Therefore, the rise in partnerships and collaborations with the service providers to foster progress and innovation is expected to bring new trends in the microbiology CRO market in the coming years.
Based on country, the South & Central America microbiology CRO services market comprises Brazil, Argentina, and the Rest of South & Central America. Brazil held the largest share in 2023.
Brazil is a significant destination for clinical trials. According to Clinical Trials Arena, Brazil accounted for a 1.7% share of the overall clinical trials activities worldwide in 2021. Boston CRO acquired Rio de Janeiro-based Instituto Brasil de Pesquisa Clinica (IBPClin) in July 2022, describing it as the first step toward adopting its decentralized clinical trial delivery model in Latin America. IBPClin claims to have conducted over 160 industry-sponsored research studies, registering more than 7,000 participants across 12 Brazilian states. Microbiological testing is a crucial aspect of the laboratory component in any clinical trial. Therefore, the increasing number of clinical trials and surging outsourcing of research and development activities in the country are likely to contribute to the microbiology CRO services market growth in the coming years.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 196.29 Million |
| Market Size by 2031 | US$ 336.05 Million |
| CAGR (2023 - 2031) | 7.0% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | South and Central America
|
| Market leaders and key company profiles |
|
Some of the key players operating in the market include Microbiologics; Melbec Microbiology; Emery Pharma; TheraIndx Lifesciences Pvt. Ltd.; AVERIN BIOTECH; Statens Serum Institut; ImQuest BioSciences; PACIFIC BIOLABS; Innovotech Inc.; and BluTest Laboratories Ltd 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.
The following methodology has been followed for the collection and analysis of data presented in this report:
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:
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.
The Insight Partners 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:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The South & Central America Microbiology CRO Services Market is valued at US$ 196.29 Million in 2023, it is projected to reach US$ 336.05 Million by 2031.
As per our report South & Central America Microbiology CRO Services Market, the market size is valued at US$ 196.29 Million in 2023, projecting it to reach US$ 336.05 Million by 2031. This translates to a CAGR of approximately 7.0% during the forecast period.
The South & Central America Microbiology CRO Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Microbiology CRO Services Market report:
The South & Central America Microbiology CRO Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Microbiology CRO Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Microbiology CRO Services Market value chain can benefit from the information contained in a comprehensive market report.
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