Latin America Precision Medicine Market Size & Outlook
Latin America precision medicine market, 2018-2030 (US$M)
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Latin America precision medicine market highlights
- The Latin America precision medicine market generated a revenue of USD 2,904.1 million in 2023.
- The market is expected to grow at a CAGR of 11.3% from 2024 to 2030.
- In terms of segment, therapeutics was the largest revenue generating application in 2023.
- Diagnostics is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 2,904.1 million |
| Market revenue in 2030 | USD 6,153.2 million |
| Growth rate | 11.3% (CAGR from 2023 to 2030) |
| Largest segment | Therapeutics |
| Fastest growing segment | Diagnostics |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Diagnostics, Therapeutics |
| Key market players worldwide | Roche, Siemens Healthineers AG ADR, Janssen Pharmaceuticals, Illumina Inc, Quest Diagnostics Inc, 23andMe Holding Co Class A, NeoDiagnostix, International Business Machines Corp, Myriad Genetics Inc, Medtronic PLC, GE HealthCare Technologies Inc Common Stock, Abbott Laboratories, Dakota Software, Biogen Inc, Qiagen NV, ImmunityBio Inc Ordinary Shares |
Other key industry trends
- In terms of revenue, Latin America region accounted for 3.3% of the global precision medicine 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 57,313.9 million by 2030.
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Precision Medicine Market Scope
Precision Medicine Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America precision medicine 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 precision medicine market will help companies and investors design strategic landscapes.
Therapeutics was the largest segment with a revenue share of 74.18% in 2023. Horizon Databook has segmented the Latin America precision medicine market based on diagnostics, therapeutics covering the revenue growth of each sub-segment from 2018 to 2030.
The paradigm of genomic medicine has made significant advances, and personalized/precision medicine is now emerging prominently. Mexico and other Latin American countries have begun to establish their personalized medicine frameworks based on regional genetic/genomic characteristics.
However, despite these initial efforts, Latin America as a whole still lags in creating a new health paradigm centered on personalized medicine, and there is a shortage of medical specialists and researchers trained in this field.
Profound changes are required at the national level to revise medical curricula and healthcare systems to enable all Latin American countries to achieve this goal. A regional strategic plan based on collaboration and networking among academic and research universities, medical associations, public & private healthcare institutions, industries, and governments is essential to build national personalized-medicine models.
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Our clientele includes a mix of precision medicine market companies, investment firms, advisory firms & academic institutions.
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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 precision medicine market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America precision medicine market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America precision medicine diagnostics therapeutics market size, by country, 2018-2030 (US$M)
Latin America Precision Medicine Market Outlook Share, 2023 & 2030 (US$M)
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