Latin America In-vitro Diagnostics Enzymes Market Size & Outlook
Latin America in-vitro diagnostics enzymes market, 2018-2030 (US$M)
Latin America in-vitro diagnostics enzymes market highlights
- The Latin America in-vitro diagnostics enzymes market generated a revenue of USD 98.7 million in 2023.
- The market is expected to grow at a CAGR of 9.1% from 2024 to 2030.
- In terms of segment, proteases was the largest revenue generating enzyme type in 2023.
- Proteases is the most lucrative enzyme type segment registering the fastest growth during the forecast period.
Latin America data book summary
| Market revenue in 2023 | USD 98.7 million |
| Market revenue in 2030 | USD 181.0 million |
| Growth rate | 9.1% (CAGR from 2023 to 2030) |
| Largest segment | Proteases |
| Fastest growing segment | Proteases |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Proteases |
| Key market players worldwide | Biocatalysts Ltd, Merck KGaA, Codexis Inc, Roche Holding AG, Amano Enzyme, Advanced Enzymes, Amicogen, Dyadic International Inc, BBI Solutions, Affymetrix, American Laboratories, Inc. |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.5% of the global in-vitro diagnostics enzymes 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 966.5 million by 2030.
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In-vitro Diagnostics Enzymes Market Scope
In-vitro Diagnostics Enzymes Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America in-vitro diagnostics enzymes 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 in-vitro diagnostics enzymes market will help companies and investors design strategic landscapes.
Proteases was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Latin America in-vitro diagnostics enzymes market based on proteases covering the revenue growth of each sub-segment from 2018 to 2030.
The utility of molecular techniques in the diagnosis of several disorders is expected to create growth opportunities in the Latin America IVD enzymes market. The use of molecular biology techniques and sequencing has increased in the region; however, there is not sufficient government funding and reimbursement.
The Brazilian Health Regulatory Agency is linked to the Ministry of Health as a coordinator of the Brazilian Health Regulatory System, which is part of the Brazilian National Health System, operating within the region.
Companies dealing in sequencing and genetic tests are investing in the region. Moreover, rise in the number of sequencing projects in the region is expected to increase the use of enzymes. For instance, in July 2020, the Oswaldo Cruz Foundation, Brazil developed a joint project with Vale Technological Institute (ITV) for genomic sequencing of COVID-19 samples.
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Our clientele includes a mix of in-vitro diagnostics enzymes market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America in-vitro diagnostics enzymes market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America in-vitro diagnostics enzymes market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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