According to this latest publication from Meticulous Research®, the Latin America NGS Market is expected to grow at a CAGR of 14.3% from 2020 to 2027 to reach $714.8 million by 2027. The growth in NGS market in Latin America is mainly attributed to the technological advancements in sequencing procedures, surge in genome mapping programs, and increase in drug discovery platforms demanding NGS technology. In addition, the growth in personalized medicine research, growing government initiatives for large-scale genomic sequencing projects, and emergence of cloud computing as a potential data management service further supports the market growth.
The Latin America next generation sequencing market study presents historical market data in terms of values (2018 and 2019), estimated current data (2020), and forecasts for 2027 – by type (consumables, NGS platform, software), sequencing type (whole genome, targeted), technology (sequencing by synthesis, sequencing by ligation), application (clinical, research), and end user. The study also evaluates industry competitors and analyzes their market share at country level.
Based on type, the consumable segment is estimated to account for the largest share of the Latin America NGS market in 2020. The large share of this segment is mainly attributed to the frequent use of consumables during sequencing procedures.
Based on sequencing type, the targeted sequencing segment is estimated to account for the largest share of the Latin America NGS market in 2020. The major share of this segment is primarily due to the higher adoption of targeted sequencing with capability of the technique to call variants at lower costs compared to other sequencing technologies, and ability to generate manageable data volumes with reliable results.
Based on technology, the sequencing by synthesis segment is estimated to command the major share of the Latin America next-generation sequencing market in 2020 and is also slated to grow at the fastest CAGR during the forecast period. The large share of this segment is attributed to the high accuracy of SBS technology in DNA sequencing, highest yield of error free throughput, and growing incorporation of this technology in NGS instrumentation.
Based on end user, the clinical diagnostic laboratories segment is estimated to account for the largest share of this market in 2020. The large share of this segment is mainly due to the rising pool of cancer patients visiting diagnostic laboratories and growing investments in these facilities in the region.
This research report analyzes major countries and provides comprehensive analysis for countries like Brazil, Mexico, Argentina, Chile, and Rest of Latin America. Brazil is estimated to command the largest share of the Latin America NGS market in 2020. The growth in this market is expected to be driven by the factors such as increasing burden of genetic disorders such as cancer in the region, increasing investments in personalized medicine development, and growing investments by the major players in this region.
Key Players
The key players operating in the Latin America NGS market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Pacific Biosciences of California, Inc. (U.S.), Qiagen N.V. (Netherlands), Oxford Nanopore Technologies Ltd (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche AG (Switzerland), and 10x Genomics, Inc. (U.S.) among others.
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Key questions answered in the report-
- What is the value of revenue generated from the sale of NGS products in Latin America? At what rate their demand is expected to grow for the next 5-7 years?
- What was the historical market for NGS market across Latin America?
- What are the key factors driving the growth of the Latin America NGS market?
- What are major opportunities for existing market players and new entrants in the Latin America NGS market?
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