The size of the Latin America Protein Labelling Market was worth USD 0.21 billion in 2022. It is further expected to grow at a CAGR of 8.98% and worth USD 0.32 billion by 2027.
Protein labeling is done using labeling reagents and kits to label an antibody or other protein, to make an enzyme conjugate, fluorescent probe, biotinylated binding reagent iodine-labeled tracer for detecting proteins in tissues, cells, and biochemical assays.
R&D enabled the protein labeling market to develop technologically advanced and innovative products, applications, and services. R&D is the key strategy adopted by key players in Protein Labelling Market. Exploration through R&D is expected to improve protein tagging technology and enhance higher resolution microscopy. The adoption of IT automation has eased research and development and is expected to boost experimentation and research. Technological advancement and innovation in Protein Labelling markets such as computer-controlled systems for fluorescence and laser-confocal microscopy create scope for the market.
Growth in demand for customized protein, rise in the prevalence of chronic diseases such as cancer, the need for prevention, diagnosis, and treatment of such diseases is on the rise. In addition, increasing healthcare expenditure, rising R&D spending, and growing proteomics research are also driving the market.
Alternatively, lack of skilled professionals, limited applications of protein labeling products, and high costs of reagents, kits, and other protein labeling services are the key factors that could impede the market growth.
This research report on the Latin American protein labelling market has been segmented and sub-segmented into the following categories:
Geographically, the Latin American protein labelling market is estimated to account for a moderate share in the global market during the forecast period. In addition, improved healthcare spending, infrastructure development, and favorable government policies are the key factors expected to drive the protein labeling market. The market is further driven by a strong trend of rising healthcare expenditures, increased R&D spending, and expansion in proteomics research are two more key causes. The In-vitro labeling methods are predicted to hold the most significant proportion of the global protein labeling market. Therefore, the worldwide protein labeling market is likely to be dominated by Latin America.
The Brazilian market is one of the largest markets in this region, followed by Mexico, Argentina, and Columbia, intensifying their investments in the Protein labeling market. Brazil is accounted for the significant growth in the protein labeling market. Improving healthcare infrastructure, growing awareness about protein labeling, and increasing healthcare expenditure drive market growth. The Immunological approaches are predicted to hold the most significant proportion of the Latin American protein labeling market during the forecast period.
KEY MARKET PLAYERS:
A few of the promising companies operating in the Latin American protein labelling market profiled in this report are Thermo Fisher Scientific, Inc., General Electric Company, Merck KGaA, Eurogentec S.A., PerkinElmer, Inc., F. Hoffmann-La Roche AG, New England Biolabs, Kaneka Corporation, Kirkegaard & Perry Laboratories, Promega Corporation, LI-COR, Inc. and SeraCare Life Sciences, Inc.
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