Latin America Biotechnology Market Size & Outlook
Latin America biotechnology market, 2018-2030 (US$M)
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Latin America biotechnology market highlights
- The Latin America biotechnology market generated a revenue of USD 84,697.7 million in 2023.
- The market is expected to grow at a CAGR of 14.1% from 2024 to 2030.
- In terms of segment, health was the largest revenue generating application in 2023.
- Bioinformatics is the most lucrative application 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 84,697.7 million |
| Market revenue in 2030 | USD 213,629.8 million |
| Growth rate | 14.1% (CAGR from 2023 to 2030) |
| Largest segment | Health |
| Fastest growing segment | Bioinformatics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Health, Food & Agriculture, Natural reseources & Environment, Industrial Processing, Bioinformatics, Others Applications |
| Key market players worldwide | AstraZeneca PLC, Gilead Sciences Inc, Bristol-Myers Squibb Co, Sanofi SA, Biogen Inc, Abbott Laboratories, Pfizer Inc, Amgen Inc, Novo Nordisk A/S ADR, Merck KGaA, Johnson & Johnson, Novartis AG ADR, Roche Holding AG, Lonza Group Ltd |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.5% of the global biotechnology 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 916,391.1 million by 2030.
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Biotechnology Market Scope
Biotechnology Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America biotechnology 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 biotechnology market will help companies and investors design strategic landscapes.
Health was the largest segment with a revenue share of 45.5% in 2023. Horizon Databook has segmented the Latin America biotechnology market based on health, food & agriculture, natural reseources & environment, industrial processing, bioinformatics, others applications covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America biotechnology market is expected to be boosted by the use of sequencing technology, particularly for research purposes by academia and universities. As cancer is a leading cause of death in Latin America, it implies a significant effort in R&D on cancer genomics for this region.
The penetration rate of bioinformatics and computational biology is continuously increasing in this region, which is expected to drive the market for data analysis tools in this region. The Ibero american Society for Bioinformatics, founded in 2009, plays an important role in the promotion of bioinformatics tools and solutions in this region.
On the other hand, the region is associated with low cost land & labor, promising demographics, and emerging innovative pathways in life sciences research. This makes it an attractive location for life sciences and biotechnology companies to expand their business.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biotechnology market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America biotechnology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America biotechnology market size, by country, 2018-2030 (US$M)
Latin America Biotechnology Market Outlook Share, 2023 & 2030 (US$M)
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