South & Central America Genetic Testing Services Market Forecast to 2030

South & Central America Genetic Testing Services Market Forecast to 2030

South & Central America Genetic Testing Services Market Forecast to 2030 – Regional Analysis – by Service Type (Predictive Testing, Carrier Testing, Prenatal Testing, Newborn Screening, and Others), Disease (Cancer, Metabolic Diseases, Cardiovascular Diseases, and Other Diseases), and Service Provider (Hospital-Based Laboratories, Diagnostic Laboratories, and Others)

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Description

The South & Central America genetic testing services market was valued at US$ 165.42 million in 2022 and is expected to reach US$ 436.36 million by 2030; it is estimated to register a CAGR of 12.9% from 2022 to 2030.

Untapped Emerging Markets in Developing Countries Fuel South & Central America Genetic Testing Services Market

Emerging countries such as China, India, Brazil, 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 quality and availability of genetic services may differ between high-income countries and low- to middle-income countries. 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 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. 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 Overview

The South & Central America genetic testing services market is segmented into Brazil, Argentina, and the Rest of South & Central America. The rising prevalence of genetic disease, growing demand for personalized medicines and genetic testing, and increasing technological advancements and product launches are expected to augment the growth of the market.

South & Central America Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Genetic Testing Services Market Segmentation

The South & Central America genetic testing services market is categorized into service type, disease, service provider, and country.

Based on service type, the South & Central America genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held the largest market share in 2022.

In terms of disease, the South & Central America genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held the largest market share in 2022.

By service provider, the South & Central America genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held the largest market share in 2022.

By country, the South & Central America genetic testing services market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America genetic testing services market share in 2022.

Eurofins Scientific SE, Laboratory Corp of America Holdings, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, and NeoGenomics Inc are among the leading companies operating in the South & Central America genetic testing services market.

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At 12.9% CAGR, South & Central America Genetic Testing Services Market is Speculated to be Worth US$ 436.36 Million by 2030, says the Research Team

According to the Research Team’ research, the South & Central America genetic testing services market was valued at US$ 165.42 million in 2022 and is expected to reach US$ 436.36 million by 2030, registering a CAGR of 12.9% from 2022 to 2030. Increasing awareness and acceptance of personalized medicines and untapped emerging markets in developing countries are among the critical factors attributed to drive the South & Central America genetic testing services market growth.

Personalized medicine is the field that utilizes patients’ genetic and environmental data to deliver optimal healthcare. It is based on the principle that every patient is unique and requires individualistic pharmacological treatment. Since it is a rapidly evolving area, it is presently incorporated into several healthcare systems. The successful completion of the Human Genome Project (HGP) in 2003 and the fast-decreasing human genome sequencing costs encouraged the development of a new medical approach, which is called personalized medicine. With an expanding repository of personalized data at the molecular level, molecular diagnostics companies are exceptionally positioned to unlock value. Large-scale drug discovery is a key to increasing the viability and usefulness of personalized medicines for the diagnosis of diseases and disorders. Genomics is one of the fastest-growing divisions of medical science. It is driving a paradigm shift in the research methodology of a disease, as well as diagnosing and treating illness. Genetic testing has been extensively used in pharmacogenomics, also known as drug-gene testing. It helps in accelerating drug discovery and its development. In January 2023, The Human Genome Project is ensuring an era of personalized healthcare. Now, new research shows that precision prescribing using genetic testing has ultimately reached a global tipping point for adoption. Published by Cambridge University Press, the peer-reviewed research examines the maturation of critical factors required for the use of clinical genetics at scale. These advancements pave the way for supporting genome-informed clinical decision-making to be established as the new standard of care. Genetically informed prescribing offers one of the realistic mechanisms to successfully reduce the overall costs of the healthcare system and improve individual patient care. Genetic testing encourages the adoption of a personalized medicine approach by understanding the science behind the disease, the impact of treatment, and the development of therapies for specific individual characteristics. It also helps healthcare personnel make informed decisions about disease diagnosis, treatment, and prevention by utilizing genetic testing results, leading to improved patient outcomes.

On the contrary, the social and ethical implications of genetic testing hamper the growth of South & Central America genetic testing services market.

Based on service type, the South & Central America genetic testing services market is segmented predictive testing, carrier testing, prenatal testing, newborn screening, and others. The predictive testing segment held 41.3% market share in 2022, amassing US$ 68.29 million. It is projected to garner US$ 197.61 million by 2030 to register 14.2% CAGR during 2022-2030.

In terms of disease, the South & Central America genetic testing services market is categorized into cancer, metabolic diseases, cardiovascular diseases, and other diseases. The cancer segment held 45.0% share of South & Central America genetic testing services market in 2022, amassing US$ 74.41 million. It is anticipated to garner US$ 210.33 million by 2030 to expand at 13.9% CAGR during 2022-2030.

By service provider, the South & Central America genetic testing services market is segmented into hospital-based laboratories, diagnostic laboratories, and others. The hospital-based laboratories segment held 62.9% share of South & Central America genetic testing services market in 2022, amassing US$ 104.07 million. It is projected to garner US$ 296.68 million by 2030 to expand at 14.0% CAGR from 2022 to 2030.

By country, the South & Central America genetic testing services market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 61.7% share of South & Central America genetic testing services market in 2022. It was assessed at US$ 102.14 million in 2022 and is likely to hit US$ 288.60 million by 2030, registering a CAGR of 13.9% during 2022-2030.

Key players operating in the South & Central America genetic testing services market are Eurofins Scientific SE, Laboratory Corp of America Holdings, Quest Diagnostics Inc, Illumina Inc, F. Hoffmann-La Roche Ltd, and NeoGenomics Inc, among others.

o Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America genetic testing services market.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the South & Central America genetic testing services market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the South & Central America genetic testing services market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.

TABLE OF CONTENTS

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Genetic Testing Services Market – Key Industry Dynamics
4.1 Key Market Drivers
4.1.1 Rising Prevalence of Genetic Diseases
4.1.2 Increasing Awareness and Acceptance of Personalized Medicines
4.1.3 Growing Preference for Direct-To-Consumer (DTC) Genetic Testing
4.2 Market Restraints
4.2.1 Social and Ethical Implications of Genetic Testing
4.2.2 Affordability of Genetic Services
4.3 Market Opportunities
4.3.1 Untapped Emerging Markets in Developing Countries
4.4 Future Trends
4.4.1 Artificial Intelligence-Powered Genetic Testing
4.5 Impact Analysis:
5. Genetic Testing Services Market – South & Central America Market Analysis
5.1 South & Central America Genetic Testing Services Market Revenue (US$ Mn), 2022 – 2030
6. South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 – by Service Type
6.1 Overview
6.2 South & Central America Genetic Testing Services Market Revenue Share, by Service Type, 2022 & 2030 (%)
6.3 Predictive Testing
6.3.1 Overview
6.3.2 Predictive Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.4 Carrier Testing
6.4.1 Overview
6.4.2 Carrier Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.5 Prenatal Testing
6.5.1 Overview
6.5.2 Prenatal Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.6 Newborn Screening
6.6.1 Overview
6.6.2 Newborn Screening: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
6.7 Others
6.7.1 Overview
6.7.2 Others: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7. South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 – by Disease
7.1 Overview
7.2 South & Central America Genetic Testing Services Market Revenue Share, by Disease, 2022 & 2030 (%)
7.3 Cancer
7.3.1 Overview
7.3.2 Cancer: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Cardiovascular Diseases
7.4.1 Overview
7.4.2 Cardiovascular Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Metabolic Diseases
7.5.1 Overview
7.5.2 Metabolic Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
7.6 Other Diseases
7.6.1 Overview
7.6.2 Other Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 – by Service Provider
8.1 Overview
8.2 South & Central America Genetic Testing Services Market Revenue Share, by Service Provider, 2022 & 2030 (%)
8.3 Hospital-Based Laboratories
8.3.1 Overview
8.3.2 Hospital-Based Laboratories: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Diagnostic Laboratories
8.4.1 Overview
8.4.2 Diagnostic Laboratories: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Genetic Testing Services Market – Country Analysis
9.1 South & Central America
9.1.1 South & Central America Genetic Testing Services Market, by Country
9.1.1.1 Brazil
9.1.1.1.1 Overview
9.1.1.1.2 Brazil Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.1.3 Brazil Genetic Testing Services Market, by Service Type, 2020-2030 (US$ Million)
9.1.1.1.4 Brazil Genetic Testing Services Market, by Disease, 2020-2030 (US$ Million)
9.1.1.1.5 Brazil Genetic Testing Services Market, by Service Provider, 2020-2030 (US$ Million)
9.1.1.2 Argentina
9.1.1.2.1 Overview
9.1.1.2.2 Argentina Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.2.3 Argentina Genetic Testing Services Market, by Service Type, 2020-2030 (US$ Million)
9.1.1.2.4 Argentina Genetic Testing Services Market, by Disease, 2020-2030 (US$ Million)
9.1.1.2.5 Argentina Genetic Testing Services Market, by Service Provider, 2020-2030 (US$ Million)
9.1.1.3 Rest of South & Central America
9.1.1.3.1 Overview
9.1.1.3.2 Rest of South & Central America Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
9.1.1.3.3 Rest of South & Central America Genetic Testing Services Market, by Service Type, 2020-2030 (US$ Million)
9.1.1.3.4 Rest of South & Central America Genetic Testing Services Market, by Disease, 2020-2030 (US$ Million)
9.1.1.3.5 Rest of South & Central America Genetic Testing Services Market, by Service Provider, 2020-2030 (US$ Million)
10. Genetic Testing Services Market-Industry Landscape
10.1 Overview
10.2 Growth Strategies in Genetic Testing Services Market
10.3 Organic Growth Strategies
10.3.1 Overview
10.4 Inorganic Growth Strategies
10.4.1 Overview
11. Company Profiles
11.1 Eurofins Scientific SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Laboratory Corp of America Holdings
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Quest Diagnostics Inc
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Illumina Inc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 F. Hoffmann-La Roche Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 NeoGenomics Inc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
12. Appendix
12.1 About Us
12.2 Glossary of Terms

LIST OF TABLES

Table 1. South & Central America Genetic Testing Services Market Segmentation
Table 2. Brazil Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 3. Brazil Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 4. Brazil Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 5. Argentina Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 6. Argentina Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 7. Argentina Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 8. Rest of South & Central America Genetic Testing Services Market, by Service Type – Revenue and Forecast to 2030 (US$ Million)
Table 9. Rest of South & Central America Genetic Testing Services Market, by Disease – Revenue and Forecast to 2030 (US$ Million)
Table 10. Rest of South & Central America Genetic Testing Services Market, by Service Provider – Revenue and Forecast to 2030 (US$ Million)
Table 11. Recent Organic Growth Strategies in Genetic Testing Services Market
Table 12. Recent Inorganic Growth Strategies in the Genetic Testing Services Market
Table 13. Glossary of Terms, Genetic Testing Services Market
 

LIST OF FIGURES

Figure 1. South & Central America Genetic Testing Services Market Segmentation, By Country
Figure 2. South & Central America Genetic Testing Services Market – Key Industry Dynamics
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. South & Central America Genetic Testing Services Market Revenue (US$ Mn), 2022 – 2030
Figure 5. South & Central America Genetic Testing Services Market Revenue Share, by Service Type, 2022 & 2030 (%)
Figure 6. Predictive Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 7. Carrier Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Prenatal Testing: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. Newborn Screening: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 10. Others: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. South & Central America Genetic Testing Services Market Revenue Share, by Disease, 2022 & 2030 (%)
Figure 12. Cancer: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Cardiovascular Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Metabolic Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Other Diseases: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. South & Central America Genetic Testing Services Market Revenue Share, by Service Provider, 2022 & 2030 (%)
Figure 17. Hospital-Based Laboratories: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Diagnostic Laboratories: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Others: South & Central America Genetic Testing Services Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. South & Central America Genetic Testing Services Market, by Key Country – Revenue, 2022 (US$ Million)
Figure 21. South & Central America Genetic Testing Services Market, By Key Countries, 2022 and 2030 (%)
Figure 22. Brazil Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 23. Argentina Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 24. Rest of South & Central America Genetic Testing Services Market Revenue and Forecast to 2030 (US$ Mn)
Figure 25. Growth Strategies in Genetic Testing Services Market
 

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

1. Eurofins Scientific SE
2. Laboratory Corp of America Holdings
3. Quest Diagnostics Inc
4. Illumina Inc
5. F. Hoffmann-La Roche Ltd
6. NeoGenomics Inc

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