The size of the Cell Culture Market in Latin America is estimated to grow from USD 2.04 billion in 2023 to USD 3.54 Billion by 2028. It is estimated to be growing at a CAGR of 11.62% during the forecast period.
A cell is the building block of living organisms and holds information highly representative of the source organism. Cell culture is a technique of studying the behavior of cells in response to external stimuli while they are independent of their host organisms. In this method, cells are taken from plants or animals or microbes and grown under controlled, suitable conditions.
Cell cultures can be established from various sources such as blood or even small fragments of tissues, called biopsies. Other sources include lymphocytes and fibroblasts, each with its own positives. There are 3 main types of cell culture: primary, secondary, and cell line cell culture. The techniques associated with cell culture have helped scientists use cell cultures for various experimental studies and biological assays of many types.
The major factors affecting the Latin America Cell Culture market include the growing demand for monoclonal antibodies and funding for cell-based research. In addition, as the incidence of infectious diseases increases, there is an added pressure on drug discovery. The government is also willing to provide more research funds in areas like cell culture, thereby driving the market forward.
Despite the government's willingness, several NGOs act against cell culture citing animal rights and their unwilling participation in medical research. This, along with the high costs associated with cell culture equipment, prevents the market from growing freely.
This research report on the Latin American cell culture market has been segmented and sub-segmented into the following categories:
The Latin American cell culture market is estimated to hold an account for a moderate share in the global cell culture market during the forecasted period as cell culture is used to generate biological products to treat a wide range of diseases, including cancer and cardiovascular disease, also, due to the increase in funding by the government and the other organizations in extensive R&D activities to create new and revolutionary cell therapy solutions. Moreover, the new developments and methodologies are expected to provide cell culture market participants with potential development possibilities throughout the forecast period.
The Brazilian cell culture market is anticipated to account for the largest share of the Latin American market, and it is anticipated to register a significant share during the forecast period. The cell culture market is projected to be fuelled by a growth in the number of cancer-related research projects and the increase in gene therapy applications in the forecast period. Also, cancer is becoming more prevalent, and cell culture is becoming more popular, which can be an important element in driving the market expansion of cancer-related research.
On the other hand, the Mexican cell culture market is projected to witness a prominent share in the Latin American cell culture market during the forecast period. The market growth is attributed to the increased awareness of cell culture techniques in research and increased research funding. In addition, supportive government policies and the rise in the demand for vaccines, artificial organs, etc., are also driving the market growth.
KEY MARKET PLAYERS:
Noteworthy companies leading the LATAM Cell Culture Market profiled in this report are Thermo Fisher Scientific, GE Healthcare, Merck KGaA, Sartorius AG, Eppendorf AG, Lonza AG, Corning, Becton, Dickinson and Company, Promocell GmbH, and Hi-Media Laboratories.
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