Increasing prevalence of chronic diseases is expected to drive the growth of Brazil Diagnostic Market in the forecast period, 2024-2028.
According to TechSci Research report, “Brazil Diagnostic Labs Market - Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, the Brazil Diagnostic Labs Market is anticipated to grow at a steady rate in the forecast period, 2024-2028. This can be ascribed to the flourishing diagnostics industry in the country. Additionally, the establishment of new diagnostic labs service providers is further expected to create lucrative opportunities for the market growth in the coming years. Besides, ageing population which is susceptible to injuries, falls, and various types of diseases is further expected to drive the market for diagnostic labs in the country.
Besides, sudden outbreak and spread of pandemic COVID-19 has increased the demand for Diagnostic labs. As the COVID-19 pandemic significantly impacted the country, diagnosis of infectious diseases and operations of clinical laboratories significantly increased. The pandemic outbreak significantly increased the number of COVID-19 tests performed and after recovery post-COVID-19 health tests such as Kidney Function Tests, Liver Function Tests, among others performed. This in turn opened new growth prospects for the diagnostic labs market in Brazil.
Besides, Shortage of skilled professionals for performing various diagnostic techniques is supposed to hinder the growth of the Brazil diagnostic labs market in the forecast period.
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Brazil Diagnostic Labs Market can be segmented by Provider Type, by Test Type, by End User and by region.
Based on the provider type, the Brazil Diagnostic Labs Market can be segmented into, Hospital Based Diagnostic Labs, Diagnostic Chains and Stand-Alone Diagnostic Labs. The Hospital Based Diagnostic Labs segment dominated the market in 2022 on account of availability of distinct testing and diagnostic facilities available for the inpatient, outpatient and walk-in patients who are intended to take further services after getting the test results. Also, Hospital-based laboratories generally perform more tests than all the other laboratory types, combined.
Based on type of test, the Brazil Diagnostic Labs Market can be segmented into pathology and radiology segment. The Radiology segment is dominating the market in 2022 and will maintain its dominance throughout the forecast period. This can be attributed to the increased utilization of the radiological services and prevalence of chronic disease among the Brazilian population.
Based on end user, the Brazil Diagnostic Labs Market can be segmented into Walk-ins, Referrals and Corporate Clients. The referrals segment dominated the market in 2022 and will maintain its dominance throughout the forecast period. This can be attributed to the growing number of patient admissions and outpatient visits in these facilities suffering from various diseases and heath conditions.
On the basis of region Southeast region dominated the Brazil Diagnostic lab market, as the regional distribution of labs in Brazil is North (5%), Northeast (9%), South(18%), Centre-West(26%), Southeast(42%) respectively. The laboratories are irregularly distributed over the country, with a highest number present in the most developed state, São Paulo (13 of 35 laboratories). However, according to the latest scenario indicates the establishment of newly certified laboratories especially in North and Northern regions of Brazil. Furthermore, it's important to note that many cities in Sau Paulo State conduct mass testing, which may help to explain why the number of labs has increased so significantly, thereby driving the Brazil diagnostic lab market.
Major companies operating in Brazil Diagnostic Market are:
- Diagnósticos da América S.A. (DASA)
- Quest Diagnostics Incorporated
- SYNLAB-Solutions in Diagnostics
- Grupo Fleury
- Hospital Israelita Albert Einstein
- Boris Berenstein Diagnostic Center
- Clinica da Imagem do Tocantis
- Hermes Pardini
Companies operating in the market are following strategies such as mergers & acquisitions, new product launches, collaborations, etc. in order to stay competitive and have an edge over other players operating in the industry. For instance, innovations in diagnostics with the assistance of information and communication technology (ICT) are being utilized in several settings that assist patients with diagnosing, treating, and managing chronic diseases effectively. Also, In September 2021, Sweetch, a digital therapeutics innovator, announced partnership with Grupo Fleury, one of Brazil's leading healthcare providers. As a part of substantial multi-year contract, Fleury will implement Saúde iD telemedicine services to improve healthcare outcomes for patients suffering from chronic conditions.
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“Southeast region in Brazil is expected to dominate in the Brazil Diagnostic Market during the forecast period on account due to the presence of larger number of independent labs. Besides, increasing healthcare expenditure and flourishing healthcare industry in the region is further expected to support the market growth in the region” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Brazil Diagnostic Labs Market By Provider Type (Hospital Based Diagnostic Labs, Diagnostic Chains, Stand Alone Diagnostic Labs), By Test Type (Pathology, Radiology), By End User (Walk-ins, Referrals, Corporate Clients), By Region, Competition, Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Brazil Diagnostic Labs Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Brazil Diagnostic Market.
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