Latin America Metagenomics Market Size & Outlook
Latin America metagenomics market, 2018-2030 (US$M)
Related Markets
Latin America metagenomics market highlights
- The Latin America metagenomics market generated a revenue of USD 167.1 million in 2023.
- The market is expected to grow at a CAGR of 13.9% from 2024 to 2030.
- In terms of segment, kits & reagents was the largest revenue generating product in 2023.
- Sequencing & Data Analytics Services is the most lucrative product 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 167.1 million |
| Market revenue in 2030 | USD 416.5 million |
| Growth rate | 13.9% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Sequencing & Data Analytics Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Sequencing & Data Analytics Services, Software |
| Key market players worldwide | Bio-Rad Laboratories Inc, Illumina Inc, PerkinElmer, Thermo Fisher Scientific Inc, Novogene, Promega, Qiagen NV, Takara Bio Inc, Oxford Nanopore Technologies PLC, Roche Holding AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.2% of the global metagenomics 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 938.3 million by 2030.
Kits & reagents was the largest segment with a revenue share of 61.46% in 2023. Horizon Databook has segmented the Latin America metagenomics market based on kits & reagents, sequencing & data analytics services, software covering the revenue growth of each sub-segment from 2018 to 2030.
The Brazil metagenomics market is expected to continue R&D of molecular test kits using NGS to diagnose brain disorders such as autism through startup companies such as Mendelics and Genius.
Furthermore, the presence of a naturally diverse ethnic demographic in the region is expected to boost R&D for NGS-derived diagnostic kits and therapies for certain rare diseases. These potential avenues for further development of NGS applications are expected to fuel the market growth in this region during the forecast period.
The improving infrastructure, expanding sequencing technologies, and increasing interest of global players in this country are also driving the market. For instance, in November 2019, Veritas Intercontinental signed an agreement with genetic testing lab Genomika, based in Brazil, to offer whole-genome and exome sequencing services in this region.
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Metagenomics Market Scope
Metagenomics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America metagenomics market size, by country, 2018-2030 (US$M)
Latin America Metagenomics Market Outlook Share, 2023 & 2030 (US$M)
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