The size of the Cell-Based Assay Market in Latin America is estimated to worth USD 1.31 billion in 2022 and expected to be growing at a CAGR of 12.1%, to reach USD 2.32 billion by 2027.
The industry is witnessing stable invasion in terms of business, revenue and demand from diverse avenues like basic medical research, predictive toxicology and drug discovery. The high input rate and precise results are expected to drive more demand and business opportunities for this industry in the coming future.
Increased reliability and advancements in this technology are some of the major drivers for the global cell-based assay market. Rapid developments across cell biology, bioinformatics, proteomics, and genomics are expected to create exciting business opportunities in the market. The growth market is also driven by continuous innovations and developments in the market aimed at higher throughput.
However, the high cost of instruments and intellectual property issues are the major factors restraining the growth of this market.
This research report segmented and sub-segmented into the following categories:
Regionally, The Latin America region is expected to witness a stable and steady growth during the forecast period, and the market is primarily driven by factors like high input rate and technological advancements. The growth is further accelerated due to the ongoing innovations and developments of the market targeted at a high throughput of the market.
Mexico Cell-Based Assay Market is dominating the LATAM region and is estimated to continue its dominance throughout the forecast period. Growing demand for cell-based assay market and enlarging the business opportunities is boosting the market growth and also rapid development over the cell biology, bioinformatics and genomics are some factors responsible for producing opportunities in the market. However, the cost related to the cell-based assay equipment and instruments is so expensive, and stringent regulations on reagent usage may hamper the market as well.
Brazilian cell-based assay market is the fastest-growing market in the LATAM region. With the support of favourable reimbursement policies and growing investments from government and other private organizations, the Brazilian cell-based assay market is estimated to perform well during the forecast period.
Key market participants in the LATAM Cell-Based Assay Market profiled in this report are Thermo Fisher Scientific Inc., Becton & Dickinson and Company, Merck & Co. Inc., Cell Signalling Technology Inc., PerkinElmer Inc., Danaher Corporation, General Electric Company, Cisbio Bioassays, DiscoveRx, Ametek Inc., Bio-Rad Laboratories, Roche Diagnostics, GE Healthcare and Promega Corporation.
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