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Latin America Microbiome Sequencing Services Market Research Report - Segmented By Technology, Application, Research Type, Laboratory Type, End User & Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis, Size, Share, Growth, Trends, & Forecasts (2024 to 2029)

Published: March, 2023
ID: 7733
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Microbiome Sequencing Services Market Size (2024 to 2029)

As per the research report, the size of the Latin America Microbiome sequencing services market size is valued at USD 143.16 Million in 2024. It is expected to grow at a CAGR of 18.93% to reach USD 340.62 Million by 2029 during the forecast period 2024 to 2029.

The growing demand propels the growth Of the Latin America Microbiome sequencing services market in various microbiome applications in genomics, proteomics, etc. In addition, this market has seen a significant growth rate during the past decade owing to the development in advanced technologies such as Next-Generation Sequencing (NGS) and the growing prevalence of cancer among the population.

There is a growing focus on human-related microbiome therapy, which has resulted in a reduction in the cost of sequencing; these factors are estimated to drive the market in the projected years. Other factors such as increasing demand for NGS and their application to get microbiomes that can help detect disease at their early stage and help in the diagnosis of critical factors. For instance, according to the cancer research authority, approximately 10,881 cases of cancer were diagnosed in 2018. According to a report published in 2019, the prevalence of colon cancer is more likely to rise from nearly 1.5 million in 2019 to almost 2 million by 2030, according to the International Agency for Research on Cancer. Hence all these factors are helping the overall market growth.

There has been a massive demand in the market due to increasing collaborations between companies and government authorities, creating better opportunities in the future. For instance, according to the data published by the Wall Street Journal in 2017, many ventures for microbiome development by firms got funds raised by 460% and have reached USD 120 million from 2015 to 2020. In addition, there are growing research investments and technological advancements in the biopharmaceutical sector and hospital research institutes which will help drive the Latin American microbiome sequencing services market in the projected period.

Several factors hamper the market, such as the lack of skilled professionals who can work on microbiome sequencing services and the decreased awareness among healthcare professionals and scientists about the various tools needed for the data analysis. Additionally, the local government follows strict policies that restrain the rapid development of microbiomes for sequencing, thus negatively affecting the market.

This research report on the Latin America Microbiome Sequencing Services Market has been segmented and sub-segmented into the following categories:

By Technology:

  • sequencing by Synthesis (SBS)
  • Sequencing by Ligation (SBL)
  • Pyrosequencing, Sanger Sequencing
  • Others

By Application:

  • shotgun Sequencing
  • Targeted Gene Sequencing
  • RNA Sequencing
  • Whole Genome Sequencing
  • Others

By Research Type:

  • internal Research
  • Outsourced Research

By Laboratory Type:

  • Wet Lab
  • Dry Lab

By End User:

  • Pharmaceutical
  • Biotechnology

By Country:

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

Geographically, the Brazil Microbiome Sequencing Services Market dominated the Latin America microbiome sequencing services market in 2022; this is expected to continue during the forecasted year. The Brazilian market had an active ecosystem for the genomic research sector, which is equally supported by government initiatives and industry players.

Several local bodies are availing the NGS services with growing awareness and healthcare development for various diseases diagnoses and treatment in the region.  According to the National Center for Biotechnology Information (NCBI), as of 2018, 221 NGS platforms and 118 research groups in Latin America were formed for developing cancer genomics projects.

Mexico Microbiome Sequencing Services Market is estimated to grow at a high CAGR during the forecast period due to the growing investments in genomic research and R&D activities associated with various infectious diseases. Increased focus on the key market players for rapid growth due to the region's cheap labor and rising medical tourism. For instance, the Mexican Biobank project was initiated to generate unique genomic data for nearly 10,000 individuals, correlating physical and physiological parameters.

Other Latin American regions such as Peru, Chile, Ecuador, and Colombia are also expected to grow at a healthy growth rate during the projected period. For instance, several genomic projects have been done in the last few years to analyze and understand the population dynamics in Peru. In Colombia, Gene sequencing was done to detect, diagnose, and limit the spread of viral diseases in plants.

KEY MARKET PLAYERS:

Prominent companies leading in the Latin America Microbiome sequencing services market profiled in the report are Metabiomics Corp., Microbiome Therapeutics LLC, Microbiome Insights Inc., Rancho Biosciences, Zymo Research Corp., Molzym GmbH & Co., Ubiome Inc., Diversigen Inc., Merieux Nutrisciences Corporation, and Molecular Research LP.,

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