The Latin America, Middle East and Africa Testing, Inspection and Certification (TIC) Market would witness market growth of 7.2% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Testing, Inspection and Certification (TIC) Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $6,348.5 million by 2031. The Argentina market is showcasing a CAGR of 8% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 6.8% during (2024 - 2031).
The pharmaceutical and healthcare industries rely heavily on TIC services to maintain high safety and efficacy standards. For biocompatibility testing, clinical research, electromagnetic compatibility (EMC) testing, wireless/telemedicine testing services, etc., testing, inspection, and certification services are widely used in the medical devices business.
Moreover, these services guarantee the quality and safety of medical gadgets. Businesses need certifications from accreditation bodies to offer certificates to their clients for medical devices, testing, inspection, and certification.
The diverse economic landscape across LAMEA nations creates unique demands for TIC services tailored to specific regional needs. The region's focus on improving product quality, safety, and compliance with international standards further boosts the demand for TIC services. Brazil’s large agricultural sector requires rigorous testing and certification to ensure food products' safety and quality for domestic consumption and export.
Free Valuable Insights: The Worldwide Testing, Inspection and Certification (TIC) Market is Projected to reach USD 331 Billion by 2031, at a CAGR of 4.3%
Based on Service Type, the market is segmented into Testing, Inspection, and Certification. Based on Sourcing Type, the market is segmented into In-house and Outsourced. Based on Application, the market is segmented into Consumer Goods & Retail, Agriculture & Food, Chemicals, Infrastructure, Manufacturing, Medical & Lifesciences, Mining, Oil & Gas, Automotive, Public Sector, and IT, Telecom & Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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By Sourcing Type
By Application
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