Latin America Biotechnology Reagents & Kits Market Size & Outlook
Latin America biotechnology reagents & kits market, 2018-2028 (US$B)
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Latin America biotechnology reagents & kits market highlights
- The Latin America biotechnology reagents & kits market generated a revenue of USD 13.3 billion in 2020.
- The market is expected to grow at a CAGR of 14.8% from 2021 to 2028.
- In terms of segment, amplification kits was the largest revenue generating kit type in 2020.
- Detection Kits is the most lucrative kit type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2021 to 2028.
Latin America data book summary
| Market revenue in 2020 | USD 13.3 billion |
| Market revenue in 2028 | USD 40.1 billion |
| Growth rate | 14.8% (CAGR from 2020 to 2028) |
| Largest segment | Amplification kits |
| Fastest growing segment | Detection Kits |
| Historical data covered | 2018 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2028 |
| Quantitative units | Revenue in USD billion |
| Market segmentation | Purification Kits, Amplification Kits, Detection Kits, Isolation Kits |
| Key market players worldwide | Thermo Fisher Scientific Inc, Qiagen NV, New England Biolabs, Illumina Inc, Agilent Technologies Inc, Bio-Rad Laboratories Inc, Merck KGaA, Promega, Takara Bio Inc, LGC Group, Toyobo Co Ltd |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.9% of the global biotechnology reagents & kits market in 2020.
- Globally, North America is projected to lead the regional market in terms of revenue in 2028.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 355.3 billion by 2028.
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Biotechnology Reagents & Kits Market Scope
Biotechnology Reagents & Kits Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America biotechnology reagents & kits 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 reagents & kits market will help companies and investors design strategic landscapes.
Amplification kits was the largest segment with a revenue share of 23.31% in 2020. Horizon Databook has segmented the Latin America biotechnology reagents & kits market based on purification kits, amplification kits, detection kits, isolation kits covering the revenue growth of each sub-segment from 2018 to 2028.
Latin American biotechnology reagents and kits market is set to grow at a steady pace over the years. This can be attributed to a favorable business environment that aids establishment of new biotech companies and startups in this region.
In addition, market expansion by players from developed economies to Latin American countries is expected to increase competition in the near future. Latin American biotech startups are also growing in the biotech sector at a significant pace.
The key challenge for Latin America in biotech development is the risk of investing in a product that has not been tested in the market. Several drugs and devices must be subjected to tests and clinical trials before being launched in the market, so biotech startups cannot grow without capital.
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Target buyers of Latin America biotechnology reagents & kits market databook
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Our clientele includes a mix of biotechnology reagents & kits market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biotechnology reagents & kits market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America biotechnology reagents & kits market from 2018 to 2028, including revenue numbers, major trends, and company profiles.
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Latin America biotechnology reagents & kits market size, by country, 2018-2028 (US$B)
Latin America Biotechnology Reagents & Kits Market Outlook Share, 2020 & 2028 (US$B)
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