The LATAM laboratory equipment and disposables market was valued at $1,759 million in 2019 and is projected to reach $2,831 million by 2027, registering a CAGR of 6.1% from 2020 to 2027.
Technological advancements in the field of laboratory equipment, an increase in the number of clinical diagnostic procedures, and a rise in private & public healthcare investments in Latin America drive the market growth. In addition, favorable insurance policies related to laboratory equipment further supplements market growth. Furthermore, an increase in research related to life science and biotechnology boosts the growth of the laboratory equipment and disposables market. However, the high cost of technologically advanced laboratory equipment and dearth of clinical laboratories in some nations hamper the market growth. Moreover, growth in the adoption of clinical diagnostic testing and high market potential in emerging economies provide lucrative opportunities for the market.
This report segments the laboratory equipment and disposables market on the basis of product type, end user, and country to provide a detailed assessment of the market. By type, the market is divided into equipment and disposables. Equipment is further divided into incubators, micro manipulation systems, centrifuges, lab air filtration system, scopes, sonicators& homogenizers, autoclaves & sterilizers, spectrophotometers & microarray equipment bioreactors, and other equipment. Similarly, the disposables segment is further classified into pipettes, tips, tubes, cuvettes, dishes, gloves, masks, cell imaging consumables, and cell culture consumables.
On the basis of end user, the market is divided into academic institutes, clinical diagnostic centers, forensic industry, and others. Country wise, it is analyzed across Brazil, Mexico, Argentina, Colombia, Peru, Costa Rica, Panama, and rest of Latin America.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers a quantitative analysis from 2019 to 2027, which is expected to enable stakeholders to capitalize on prevailing market opportunities.
- A comprehensive analysis of the countries in Latin America is provided to determine the existing opportunities.
- The key market players and their strategies have been analyzed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Product
- Equipment
- Incubators
- Laminar flow hood
- Micro manipulation systems
- Centrifuges
- Lab air filtration system
- Scopes
- Sonicators& homogenizers
- Autoclaves & sterilizers
- Spectrophotometers& microarray equipment
- Bioreactors
- Others
- Disposables
- Pipettes
- Tips
- Tubes
- Cuvettes
- Dishes
- Gloves
- Masks
- Cell Imaging Consumables
- Cell Culture Consumables
By End User
- Academic Institute
- Clinical Diagnostic Centers
- Forensics Industry
- Others
By Country
- Brazil
- Mexico
- Argentina
- Colombia
- Peru
- Costa Rica
- Panama
- Rest of Latin America
LIST OF KEY PLAYERS PROFILED IN THE REPORT
- Agilent Technologies, Inc.
- Bio-Rad Laboratories
- Bruker Corp
- Danaher Corp
- Fujifilm Irvine Scientific
- PerkinElmer Inc.
- Sartorius AG
- Shimadzu Corporation
- Thermofisher Scientific Inc.
- Waters Corp
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request.)
- Eppendorf AG
Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Latam Laboratory Equipment and Disposables Market, by Product Type
Chapter 5: Latam Laboratory Equipment and Disposables Market, by End-user
Chapter 6: Latam Laboratory Equipment and Disposables Market, by Country
Chapter 7: Company Profiles
Executive Summary
According to the report titled, 'LATAM Laboratory Equipment and Disposables Market by Product Type and End User: Country Opportunity Analysis and Industry Forecast, 2020-2027', the LATAM laboratory equipment and disposables market size was valued at $1,759 million in 2019, and is projected to reach $2,831 million by 2027, registering a CAGR of 6.1% from 2020 to 2027.Laboratory equipment are tools used by lab technicians or scientists working in a laboratory.. They are used to perform various tasks such as analysis of biological samples of patients, preparation of cell culture mediums for research, and studying tissues for diagnosis of various diseases. Moreover, laboratories perform clinical testing, pathological testing, and microbiological testing by using these equipment and disposables.
The factors that drive the growth of the LATAM laboratory equipment and disposables market include technological advancements in laboratory equipment and surge in private and public healthcare investments. In addition, favorable insurance policies related to laboratory equipment and surge in research related to life science and biotechnology boost market growth. However, high costs of technologically advanced laboratory equipment and dearth of clinical laboratories in some nations are expected to hamper the LATAM laboratory equipment and disposables market growth. Furthermore, growth in adoption of clinical diagnostics testing worldwide and high market potential in emerging economies provide lucrative opportunities for the growth of the market.
On the basis of product type, the disposable segment is estimated to garner largest share during the forecast period. This segment is expected to maintain its dominant position throughout the analysis period, owing to their vital role in every laboratory task. On the other side, the equipment segment is the fastest growing segment during the forecast period, owing to rise in adoption of laboratory testing across Latin America and technological advancements in the equipment leading to better result of analysis.
On the basis of type of equipment, spectrophotometer equipment served as the largest and fastest growing segment in the LATAM laboratory equipment and disposables market, owing to their use in wide range of applications in diagnosis of various diseases.
Furthermore, on the basis of type of disposables, cell culture consumables occupied the largest share in the LATAM laboratory equipment and disposables market. The growth of this segment is attributable to the use of cell cultures in identification of biomarkers of pathological conditions. Cell cultures are also used to study metabolic pathways that produce such biomarkers. Metabolites play an important role in cancer diagnosis, recurrences, and prognosis by identifying novel cancer biomarkers. Therefore, widespread prevalence of cancer across the globe and rise in research related to cancer treatment worldwide are the factors that boost the growth of this market. Moreover, cell imaging consumables served as the fastest growing segment in the market, owing to increase in focus on regenerative medicine.
Brazil contributed for the largest share of the LATAM laboratory equipment and disposables market, attributed to the large availability of equipment, higher number of laboratories, rise in R&D investments, and availability of skilled technicians. In addition, other factors that boost the LATAM laboratory equipment and disposables market growth in Brazil include rise in public and private investments in the country.
In 2019, Brazil & Mexico country collectively accounted for more than 50% of the total laboratory equipment and disposables market and is expected to continue this trend, owing to rise in buying power with developing healthcare infrastructure, thereby boosting the growth of the laboratory equipment and disposables market in the 2027..
Key Findings of the Study:
The equipment segment is anticipated to grow at the highest rate during the forecast period.
Disposable was the major shareholder in the LATAM laboratory equipment and disposables market, accounting for 64.02% share in 2019.
The spectrophotometer and microarray equipment segment occupied 18.68% share of the total laboratory equipment market in 2019.
Clinical diagnostic centers occupied 61.88% share of the LATAM laboratory equipment and disposables market in 2019.
The cell culture consumables segment accounted for approximately 21.77% share of the LATAM laboratory disposables market in 2019.
The major companies profiled in this report include Agilent Technologies, Inc., Bio-Rad Laboratories, Bruker Corporation, Danaher Corp, Fujifilm Irvine Scientific, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation,. Thermo Fisher Scientific Inc., and Waters Corporation.
Companies Mentioned
- Agilent Technologies Inc.,Bio-Rad Laboratories
- Bruker Corp
- Danaher Corp
- Fujifilm Irvine Scientific
- PerkinElmer Inc.
- Sartorius AG
- Shimadzu Corporation
- Thermofisher Scientific Inc.
- Waters Corp
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 205 |
| Published | May 2020 |
| Forecast Period | 2019 - 2027 |
| Estimated Market Value ( USD | $ 1759 million |
| Forecasted Market Value ( USD | $ 2831 million |
| Compound Annual Growth Rate | 6.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
