Latin America Companion Diagnostics Market 2022-2028
MARKET OUTLOOK
Triton’s research report insinuates that the Latin American companion diagnostics market is expected to register growth at a compound annual growth rate of 12.10% during the forecasting years 2022-2028. Mexico, Brazil, and Rest of Latin America are considered in the region.
In Mexico, initiatives undertaken to reduce approval time for clinical trials are anticipated to surge the adoption of companion diagnostics devices. For instance, the government amended various acts to accelerate clinical trials. Besides this, the Federal Commission for the Protection against Sanitary Risk is working on various aspects to decrease the hurdles faced during these trials. Moreover, it aims to increase the number of pharmaceutical companies conducting clinical trials. Thus, these factors are expected to contribute to the expansion of the companion diagnostics market.
In Rest of Latin America, countries like Argentina, Peru, Chile, and Columbia are expected to witness consistent growth over the forecast period. As per estimates, the in-vitro and molecular diagnostics industry is expanding at a rapid pace, which is estimated to augment the companion diagnostics market’s growth. In Argentina, the rising acceptance of advanced diagnostic technologies by physicians is among the major factors supporting the studied market’s growth.
COMPETITIVE OUTLOOK
The notable companies in the companion diagnostics market include Almac Group, Biocartis, Abbott Laboratories, Danaher Corporation, and GE Healthcare.
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