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Redding, California - February 2, 2024

Latin America NGS Market to be Worth $765.2 Million by 2031

Latin America NGS Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology, Infectious, Drug Discovery) Technology (SBS, Nanopore, Nanoball, SMRT Seq, DNB) – Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, "Latin America NGS Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology, Infectious, Drug Discovery) Technology (SBS, Nanopore, Nanoball, SMRT Seq, DNB) - Forecast to 2031."

According to this latest publication from Meticulous Research®, the Latin America NGS market is expected to reach $765.2 million by 2031, at a CAGR of 13.9% from 2024 to 2031. The growth of the Latin America NGS market can be attributed to various factors, including the increasing initiatives by governments and organizations for genomic sequencing projects, advancements in sequencing procedures, decreasing costs of genome sequencing, a rise in cancer prevalence, and the expanding application of NGS in cancer treatment and research. However, the high costs of NGS systems and consumables and the availability of alternative technologies restrain the market's growth.

The rising adoption of bioinformatics and genomic data management solutions, as well as collaborations and partnerships to support next-generation sequencing, are expected to create market growth opportunities. However, the lack of skilled professionals and ethical and legal issues related to NGS-based diagnosis pose a significant challenge to the market's growth.

Key Players

The key players profiled in the Latin America NGS market report are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), Qiagen N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), PerkinElmer, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and 10X Genomics, Inc. 2(U.S.).

Latin America NGS Market: Future Outlook

The Latin America NGS market is segmented into Offering (Consumables [Sample Preparation Consumables {DNA Extraction and Amplification, Library Preparation & Target Enrichment, Quality Control}, Other Consumables], NGS Platforms/Instruments, Software, Services), Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing, DNA Nanoball Sequencing), Applications (Clinical Applications [Reproductive Health, Oncology, Infectious Diseases, Other Clinical Applications], Research Applications [Drug Discovery, Agriculture & Animal Research, Other Research Applications), End User (Hospitals and Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, Other End Users), and Geography.

Among the offerings, in 2024, the consumables segment is expected to account for the largest share of the Latin America NGS market. The large market share of this segment is attributed to recurring demand for consumables, advancements in consumables, and the rising adoption of NGS technology for clinical and research purposes. NGS is used in clinical and research studies to characterize disease-causing genomes, sequence the potential pathogen, analyze epigenetic markers, and identify specific genes and their sequences. These applications of NGS are instrumental in developing targeted medicines, understanding food microbiology and microbiota analysis in the beverage industry, and other environmental studies.

Among the sequencing types, in 2024, the targeted genome sequencing segment is expected to account for the largest share of the Latin America NGS market. The large market share of this segment is attributed to its low sequencing costs compared to other sequencing technologies, increased sensitivity in variant calling, and advancements in targeted genome sequencing technologies. Advances in targeted genome sequencing have enhanced the diagnosis of monogenic intestinal and pediatric disorders. Beyond disease diagnosis, this technology facilitates the exploration of gene-drug associations, enabling researchers to design gene-specific drugs with high specificity.

Among the technologies, in 2024, the sequencing by synthesis segment is expected to account for the largest share of the Latin America NGS market. The large market share of this segment is attributed to the advantages offered by sequencing by synthesis over other technologies. These advantages include the elimination of homopolymer errors, cost-effectiveness for various throughput or scale requirements, robust performance and data quality, unbiased coverage across the genome, and high-quality alignment achieved through paired-end sequencing.

Among the applications, in 2024, the research applications segment is expected to account for the larger share of the Latin America NGS market. The large market share of this segment is attributed to the increasing prevalence of genetic disorders, a rise in the adoption of sequencing-based tests in laboratories, the growing demand for gene-based medicines, increased investments in drug research and development activities, and increasing research programs for personalized medicine.

Among the end users, in 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the Latin America NGS market. The large market share of this segment is attributed to the increasing R&D spending by pharmaceutical and biotechnology companies and the rising incidence of chronic diseases. For instance, according to GLOBOCAN, in 2020, 1.5 million people were diagnosed with cancer in Latin America. This number is projected to reach 1.9 million by 2030. NGS is often utilized to identify genomic mutations and variants in cancer research. NGS allows scientists and medical professionals to examine a vast amount of DNA and RNA simultaneously, aiding in the detection of abnormalities that might be connected to the disease.

Geographic Review

This research report provides a comprehensive analysis of the market in Brazil, Mexico, Argentina, Chile, and the Rest of Latin America. In 2024, Brazil is expected to account for the largest share of the Latin America NGS market. Brazil's significant market share can be attributed to the increasing adoption of advanced technologies for research purposes, the expanding applications of NGS in drug discovery, growing research and development spending by pharmaceutical and biotechnology companies, and the rising incidence of chronic diseases. These factors collectively drive the adoption of NGS technologies among pharmaceutical and biotechnology companies in Brazil.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5780

Key questions answered in the report:

Which are the high-growth market segments in terms of the offering, sequencing type, technology, application, end user, and country?
What was the historical market size for NGS in Latin America?
What are the market forecasts and estimates for the period 2024–2031?
What are the major drivers, restraints, challenges, opportunities, and trends in the Latin America NGS market?
Who are the major players in the Latin America NGS market?
What is the competitive landscape like, and who are the market leaders in the Latin America NGS market?
What are the recent developments in the Latin America NGS market?
What are the different strategies adopted by the major players in the Latin America NGS market?
What are the geographical trends and high-growth countries?

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Redding, California - February 2, 2024

Latin America NGS Market to be Worth $765.2 Million by 2031

Latin America NGS Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology, Infectious, Drug Discovery) Technology (SBS, Nanopore, Nanoball, SMRT Seq, DNB) – Forecast to 2031

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