Global LATAM laboratory Equipment and Disposables Market Size, Share, Forecast Report, 2020-2027

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.

Equipment and disposables used in a laboratory where technological research and experiments are carried out are known as laboratory equipment and disposables. There are different laboratory products used while conducting experiments such as incubators, pipettes, gloves, masks, bioreactors, tubes, scopes, and centrifuges. Laboratory equipment and disposables are used in pharmaceutical, academic, industrial, diagnostics, forensics, and healthcare sectors.
Technological advancements in the field of laboratory equipment, increase in number of clinical diagnostic procedures, and rise in private & public healthcare investments in LATAM drive the market growth. In addition, favorable insurance policies related to laboratory equipment further supplement the market growth. Furthermore, increase in research related to life science and biotechnology boosts the growth of the LATAM laboratory equipment and disposables market. However, high cost of technologically advanced laboratory equipment and dearth of clinical laboratories in some nations hamper the market growth. Moreover, growth in adoption of clinical diagnostic testing and high market potential in emerging economies provide lucrative opportunities for the market growth.

On the basis of product, the disposable segment is estimated to garner largest share during the forecast period, and is expected to maintain its dominant position throughout the analysis period, owing to its vital role in every laboratory task. On the other side, the equipment segment is expected to be the fastest growing segment during the forecast period, owing to rise in adoption of laboratory testing across the LATAM and technological advancements in equipment leading to better result of analysis.

On the basis of type of equipment, spectrophotometer and microarray equipment served as the largest and fastest growing segment of the laboratory equipment and disposables market, owing to their use in wide range of applications in diagnosis of various diseases.

Furthermore, based on type of disposables, cell culture consumables occupied the largest share in the market. The growth of this segment is attributable to the use of cell cultures in identification of biomarkers of a pathological condition. Cell cultures are also used to study metabolic pathways that produce such biomarkers. Metabolites play an important role in cancer diagnosis, recurrences, and prognosis by identifying novel cancer biomarkers. Therefore, widespread prevalence of cancer across LATAM and rise in research related to cancer treatment are the factors that boost the growth of this market. Moreover, the cell imaging consumables segment served as the fastest growing segment in the market in 2019 due to increase in focus on regenerative medicine

Latam Laboratory Equipment And Disposables Market Segmentation

The LATAM market is segmented on the basis of product, end user, and region. By product, the market is divided into equipment and disposables. Equipment is further divided into incubators, micro manipulation systems, centrifuges, lab air filtration system, scopes, sonicators & homogenizers, autoclaves & sterilizers, spectrophotometers µarray equipment bioreactors, and other equipment. Similarly, the disposables segment is further classified into pipettes, tips, tubes, cuvettes, dishes, gloves, mask, cell imaging consumables, and cell culture consumables. Depending on end user, the market is classified into academic institutes, clinical diagnostic centers, forensic industry, and others. Country wise, it is analyzed across Brazil, Mexico, Argentina, Colombia, Peru, Costa Rica, Panama, and rest of Latin America.

Segment review
By product, the market is categorized into equipment and disposables. In 2019 the disposables segment dominated the LATAM market, and is anticipated to continue this trend throughout the forecast period. The key factors that drive the market growth include increase in prevalence of HIV, cancer, rise in geriatric population, and government investment programs for diagnostic laboratories. In addition, growth in adoption of clinical diagnostic testing and high market potential in emerging economies provide lucrative opportunities for the market.
By end user, the market is divided into academic institutes, clinical diagnostic centers, forensics industry, and others. In 2019, the clinical diagnostics centers segment accounted for the majority of LATAM laboratory equipment and disposables market share, owing to strong presence of hospitals and diagnostic centers across LATAM, and is expected to continue this trend during the forecast period. The forensics industry segment is anticipated to grow at a significant rate in the future. In addition, market is also accelerated by growth in incidences of crime across LATAM countries. Moreover, increased awareness regarding DNA profiling in criminology is also one of the major reasons that increases the demand for LATAM lab equipment and disposables.
The key players profiled in this LATAM laboratory equipment and disposables market include Agilent Technologies, Inc.,Bio-Rad Laboratories, Bruker Corp, Danaher Corp, Fujifilm Irvine Scientific, PerkinElmer Inc., Sartorius AG, Shimadzu Corporation, Thermofisher Scientific Inc., and Waters Corp.

Key Market Segments

By Product

• Equipment
  • Incubators
  • Laminar flow hood
  • Micro manipulation systems
  • Centrifuges
  • Lab air filtration system
  • Scopes
  • Sonicators & homogenizers
  • Autoclaves & sterilizers
  • Spectrophotometers& microarray equipment
  • Bioreactors
  • Others 
• Disposables
  • Pipettes
  • Tips
  • Tubes
  • Cuvettes
  • Dishes
  • Gloves
  • Masks
  • Cell Imaging Consumables
  • Cell Culture Consumables

By End user

• Academic Institute
• Clinical Diagnostic Centers
• Forensics Industry
• Others

By Region

• Brazil
• Mexico
• Argentina
• Colombia
• Peru
• Costa Rica
• Panama
• Rest of Latin America