Market by Phase Type, Service, Sponsor, and Country Outlook | Forecast 2022-2028
As per Triton’s research analysis, the Latin America clinical trials support services market is likely to grow with a CAGR of 7.12% in the forecasting duration between 2022 and 2028.
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The
countries included in this region are:
•
Mexico
•
Brazil
•
Rest of Latin America
In
Latin America, Mexico accounted for the largest share in the clinical trials
support services market in 2021. In Latin America, patients
proactively partake in clinical trials because of increased disease incidence
due to changes in lifestyle. However, the regulatory environment in the region is
quite stringent, which is likely to affect the market’s progress.
Mexico has a diverse
demographic profile; this provides it with enormous potential for wide-scale
patient recruitment. The Mexican Institute of Social Security and other
national-level health institutions could potentially cater to more than 70% of
the country's diverse patient population. This would provide a further boost to
trials, thus increasing the demand for support services.
Further, the country’s
healthcare system provides various options for clinical research to both the
private and public sectors, and boasts of highly skilled and experienced
researchers. This would advance the growth of the studied market in the years
to come.
Even in Rest of Latin
America, the number of clinical trials conducted has increased significantly. Most
of the trials are performed in Argentina, Peru, Chile, and others. And within
these nations, the range of drugs, vaccines, and devices being tested cover the
majority of therapeutic areas under research. This implies an increased number
of trials being conducted, which necessitates the use of support services.
After organizations
receive FDA approval for treatment, they further proceed to manufacture the
drugs on a large scale. This is the phase IV of the clinical trial. This is
often the safest phase of the trials as the treatment has already been studied extensively
and has likely been given to several people. If any side-effect is reported,
the FDA steps in to closely monitor the individual and public health safety at
large.
Triton’s
report assesses the market according to phase type, service, and sponsor.
Here, the phase type segment comprises phase I, phase II, phase III, and phase
IV.
The
distinguished players in the clinical trials support services market include CTI
Clinical Trial and Consulting Services Inc, Syneos Health, Parexel, Labcorp
Drug Development, Advanced Clinical, ICON Plc, and IQVIA.
Established in 1996, Labcorp
Drug Development is a leading CRO in the clinical trials support services
sector. It offers solutions by specialty areas (nephrology, cardiovascular,
oncology, inflammation, etc.), by phases (I, II a, II b, III, IV, RWE), by
product type (small molecule solutions, biomarkers, etc.), and others. It has a
business presence in Latin America, among other regions.
In December 2021,
Labcorp acquired Toxikon Corporation, a CRO known for its non-clinical testing
services.
Key deliverables of the report:
·
Market
CAGR during the forecasting years 2022-2028
·
Detailed
data highlighting key insights, industry components, and market strategies
·
Comprehensive
information and estimation of the clinical trials support services market
revenue growth in Latin America and its influence on the parent market
·
In-depth
study of forthcoming trends in consumer behavioral patterns
·
A
meticulous analysis of the competitive landscape, vendor scorecard, and
Porter’s Five Forces Model
·
A
wide-ranging study of factors that will challenge the Latin America clinical
trials support services market’s growth during the upcoming years
Want
to get specific insights? Our team of analysts can customize this report based
on your preferences. Connect with us here.
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VIEW REPORT1. LATIN
AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
OF COVID-19 ON THE CLINICAL TRIALS SUPPORT SERVICES MARKET
2.2. KEY
INSIGHTS
2.2.1. KEY
PLAYERS’ PROMISING COLLABORATIONS
2.2.2. INCREASE
IN SCREENING TESTS
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. KEY
BUYING IMPACT ANALYSIS
2.4.1. PERFORMANCE
2.4.2. EASE
OF USE
2.4.3. SECURITY
2.4.4. COST
EFFECTIVENESS
2.5. MARKET
ATTRACTIVENESS INDEX
2.6. VENDOR
SCORECARD
2.7. INDUSTRY
COMPONENTS
2.8. KEY
MARKET STRATEGIES
2.8.1. ACQUISITIONS
2.8.2. PRODUCT
LAUNCHES
2.8.3. CONTRACTS
& AGREEMENTS
2.8.4. INVESTMENTS
& EXPANSIONS
2.9. MARKET
DRIVERS
2.9.1. NEED
TO OVERCOME THE BARRIERS IN CLINICAL TRIALS
2.9.2. RISE
IN TRIALS DUE TO INCREASED DISEASE INCIDENCE
2.10. MARKET
CHALLENGES
2.10.1. DELAYED
APPROVAL DUE TO STRINGENT REGULATORY FRAMEWORK
2.10.2. USE OF
OPEN-SOURCE SOFTWARE
2.11. MARKET
OPPORTUNITIES
2.11.1. INCREASING
DEMAND FOR VACCINES AND PHARMACEUTICALS
2.11.2. DATA
MANAGEMENT SERVICE EXPECTED TO WITNESS NOTABLE GROWTH
2.11.3. ACQUISITIONS
IN THE CLINICAL TRIALS SUPPORT SERVICES MARKET
3. LATIN
AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET OUTLOOK – BY PHASE TYPE
3.1. PHASE
I
3.2. PHASE
II
3.3. PHASE
III
3.4. PHASE
IV
4. LATIN
AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET OUTLOOK – BY SERVICE
4.1. CLINICAL
TRIAL SITE MANAGEMENT
4.2. ADMINISTRATIVE
SERVICES
4.3. PATIENT
RECRUITMENT MANAGEMENT
4.4. REGULATORY
SERVICES
4.5. DATA
MANAGEMENT
4.6. OTHER
SERVICES
5. LATIN
AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET OUTLOOK – BY SPONSOR
5.1. PHARMACEUTICAL
& BIOPHARMACEUTICAL COMPANIES
5.2. MEDICAL
DEVICE COMPANIES
5.3. OTHER
SPONSORS
6. LATIN
AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET – COUNTRY OUTLOOK
6.1. BRAZIL
6.2. MEXICO
6.3. REST
OF LATIN AMERICA
7. COMPETITIVE
LANDSCAPE
7.1. IQVIA
7.2. PAREXEL
7.3. ICON
PLC
7.4. SYNEOS
HEALTH
7.5. LABCORP
DRUG DEVELOPMENT
7.6. CLINIPACE
7.7. KCR
7.8. CHARLES
RIVER LABORATORIES
7.9. MEDPACE
7.10. ALCURA
7.11. PSI
CRO
7.12. WORLDWIDE
CLINICAL TRIALS
7.13. CTI
CLINICAL TRIAL AND CONSULTING SERVICES INC
7.14. WUXI
APPTEC
7.15. ADVANCED
CLINICAL
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE
1: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
TABLE
2: LIST OF COLLABORATIONS
TABLE
3: VENDOR SCORECARD
TABLE
4: LIST OF ACQUISITIONS
TABLE
5: LIST OF PRODUCT LAUNCHES
TABLE
6: LIST OF CONTRACTS & AGREEMENTS
TABLE
7: LIST OF INVESTMENTS & BUSINESS EXPANSIONS
TABLE
8: LIST OF PANDEMIC OUTBREAKS
TABLE
9: LIST OF OPEN-SOURCE SOFTWARE
TABLE
10: LAUNCH OF MEDICAL DRUGS
TABLE
11: PROMISING ACQUISITIONS IN THE MARKET
TABLE
12: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY SERVICE,
2022-2028 (IN $ MILLION)
TABLE
13: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE TYPE,
2022-2028 (IN $ MILLION)
TABLE
14: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY SPONSOR,
2022-2028 (IN $ MILLION)
TABLE
15: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, COUNTRY OUTLOOK,
2022-2028 (IN $ MILLION)
FIGURE
1: KEY BUYING IMPACT ANALYSIS
FIGURE
2: MARKET ATTRACTIVENESS INDEX
FIGURE
3: INDUSTRY COMPONENTS
FIGURE
4: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE TYPE, 2021
& 2028 (IN %)
FIGURE
5: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE I, 2022-2028
(IN $ MILLION)
FIGURE
6: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE II,
2022-2028 (IN $ MILLION)
FIGURE
7: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE III,
2022-2028 (IN $ MILLION)
FIGURE
8: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHASE IV,
2022-2028 (IN $ MILLION)
FIGURE
9: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY SERVICE, 2021
& 2028 (IN %)
FIGURE
10: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY CLINICAL TRIAL
SITE MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE
11: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY ADMINISTRATIVE SERVICES,
2022-2028 (IN $ MILLION)
FIGURE
12: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PATIENT
RECRUITMENT MANAGEMENT, 2022-2028 (IN $ MILLION)
FIGURE
13: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY REGULATORY
SERVICES, 2022-2028 (IN $ MILLION)
FIGURE
14: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY DATA MANAGEMENT,
2022-2028 (IN $ MILLION)
FIGURE
15: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY OTHER SERVICES,
2022-2028 (IN $ MILLION)
FIGURE
16: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY SPONSOR, 2021
& 2028 (IN %)
FIGURE
17: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY PHARMACEUTICAL
& BIOPHARMACEUTICAL COMPANIES, 2022-2028 (IN $ MILLION)
FIGURE
18: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY MEDICAL DEVICE COMPANIES,
2022-2028 (IN $ MILLION)
FIGURE
19: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, BY OTHER SPONSORS,
2022-2028 (IN $ MILLION)
FIGURE
20: LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET, COUNTRY OUTLOOK,
2021 & 2028 (IN %)
FIGURE
21: BRAZIL CLINICAL TRIALS SUPPORT SERVICES MARKET 2022-2028 (IN $ MILLION)
FIGURE
22: MEXICO CLINICAL TRIALS SUPPORT SERVICES MARKET 2022-2028 (IN $ MILLION)
FIGURE
23: REST OF LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET 2022-2028 (IN
$ MILLION)
