LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET 2022-2028

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LATIN AMERICA CLINICAL TRIALS SUPPORT SERVICES MARKET 2022-2028

Market by Phase Type, Service, Sponsor, and Country Outlook | Forecast 2022-2028

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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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Table of Content

1. 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

List of Tables

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)

List of Figures

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)

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