Latin America Biochip Market Size & Outlook, 2023-2030
Latin America biochip market, 2018-2030 (US$M)
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Latin America biochip market highlights
- The Latin America biochip market generated a revenue of USD 759.5 million in 2023.
- The market is expected to grow at a CAGR of 10.7% from 2024 to 2030.
- In terms of segment, dna chips was the largest revenue generating type in 2023.
- Lab-on-chip is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 759.5 million |
| Market revenue in 2030 | USD 1,547.8 million |
| Growth rate | 10.7% (CAGR from 2023 to 2030) |
| Largest segment | Dna chips |
| Fastest growing segment | Lab-on-chip |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tissue Arrays, Cell Arrays, DNA Chips, Lab-on-chip, Protein Chips |
| Key market players worldwide | Agilent Technologies Inc, PerkinElmer, Illumina Inc, Bio-Rad Laboratories Inc, Standard BioTools Inc, GE HealthCare Technologies Inc Common Stock, Thermo Fisher Scientific Inc, Qiagen NV, Randox |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.7% of the global biochip market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 3,957.0 million by 2030.
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Biochip Market Scope
Biochip Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America biochip market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biochip market will help companies and investors design strategic landscapes.
Dna chips was the largest segment with a revenue share of 37.18% in 2023. Horizon Databook has segmented the Latin America biochip market based on tissue arrays, cell arrays, dna chips, lab-on-chip, protein chips covering the revenue growth of each sub-segment from 2018 to 2030.
The incidence of cancer is growing in this region; however, cancer profiles differ from that in other Western nations. The growing prevalence of cancer is expected to positively influence the regional market over the forecast period.
Moreover, rising demand for personalized healthcare and growing efforts from manufacturers to boost precision medicine are fueling the regional market. Furthermore, several review articles have been published wherein scientists from Mexico, Uruguay, Brazil, Chile, and Argentina are sharing their views on biochip and microarray-based research in each of their countries.
Key initiatives adopted in these countries for the promotion of biochip research are also illustrated in these articles. This, in turn, is expected to boost the development as well as the adoption of biochips in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biochip market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America biochips market size, by country, 2018-2030 (US$M)
Latin America Biochip Market Share, 2023 & 2030 (US$M)
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