South & Central America Genetic Testing Services Market

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 Strategic Insights

Strategic insights for the South & Central America Genetic Testing Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Genetic Testing Services Report Scope

South & Central America Genetic Testing Services Regional Insights

The geographic scope of the South & Central America Genetic Testing Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.