LATIN AMERICA CLINICAL TRIAL MANAGEMENT MARKET 2021-2028

LATIN AMERICA CLINICAL TRIAL MANAGEMENT MARKET 2021-2028

MARKET OUTLOOK

Triton’s research report infers that the Latin American clinical trial management market is likely to exhibit growth at a CAGR of 9.05% during the period 2021-2028. Mexico, Brazil, and Rest of Latin America shape the market in this region.

Over the years, the pharmaceutical industry has grown significantly across Mexico, contributing largely to the country’s economy. Moreover, with the increase in pharmaceutical products, the country witnessed a rise in employment in the industry. This supports the pharmaceutical industry to a large extent. Further, the healthcare system also offers a broad range of clinical research alternatives in private and public sectors where health services are diversified. Thus, the pharmaceutical industry’s growth is estimated to increase the demand for clinical trial management products, simultaneously boosting the clinical trial management market on a progressive path across Mexico.

In Rest of Latin America, the life science industry is transforming due to the favorable government initiatives and research by academics. Moreover, the region is also witnessing a surge in clinical trials as companies shift to focus on outsourcing their drug delivery processes to emerging markets. In Argentina, several publicly accessible clinical trial registries are available; however, ReNIS is the national registry that aims to offer updated information pertaining to health research studies, enabling research transparency. These developments are evaluated to have a positive impact on the clinical trial management market in Argentina in the near future.

COMPETITIVE OUTLOOK



The key firms in the clinical trial management market are Parexel International Corporation, Bioclinica Inc, Arisglobal LLC, IBM Corporation, and Oracle Corporation.