LATAM laboratory Equipment and Disposables Market Huge Growth Opportunities in 2027

Increase in investments in private and public healthcare, and supportive insurance policies drive the growth of the LATAM laboratory equipment market.

PORTLAND, OREGON, UNITED STATES, March 22, 2022 /EINPresswire.com/ -- Advancements in technologiesfor laboratory equipment, increase in investments in private and public healthcare, and supportive insurance policiesdrive the growth of the LATAM laboratory equipment and disposables market. In addition, research and development activities related to life science and biotechnology supplement the market growth. However, high costsrelated to technologically advanced laboratory equipment and scarcity of clinical laboratories in some countries hinder the market growth. On the other hand, adoption of clinical diagnostics testing in the Latin Americaregion and untapped potential in emerging economies create new opportunities in the coming years.

According to the report published by Allied Market Research, 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. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “The growth of the LATAM laboratory equipment and disposables market is attributed to increase in geriatric population and rise in incidences of HIV, cancer, tuberculosis, and other such diseases. Furthermore, surge in investments by governments in healthcare system and hospitals related to laboratory diagnosis are some of the factors that contribute to the growth of the market.”

Covid-19 scenario:

As researchers are working relentlessly to develop a vaccine and potential treatments for Covid-19, there has been a significant demand for different laboratory equipment.

Health governing bodies such as WHO released laboratory testing guidelines for Covid-19 in suspected cases.

As the countries raise their responses to determine, manage, and treat increasing cases of Covid-19, acquiring sufficient laboratory equipment and disposables has become a major part of strategy.

The report offers a detailed segmentation of the LATAM laboratory equipment and disposables market based on product, end user, and country.

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.

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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.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

David Correa
Allied Analytics LLP
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