The size of the Latin American Cell Sorting Market has been forecasted at USD 25.44 Million in 2022. It is further estimated to be growing at a CAGR of 4.89% and value USD 32.29 Million by 2027.
The Latin American market is forecasted to be driven by factors such as technological developments in cell sorters, increased financing and investments for the development of technologically enhanced cell sorters, increased research in cell sorting technologies and the expansion of pharmaceutical and biotechnology firms, and increasing acceptance of cell sorting techniques in research activities. In addition, the development of research efforts through cell sorting will be boosted by initiatives in developing innovative treatments. The market will also be fueled by the massive rise in the prevalence of chronic diseases like cancer and diabetes, the urgent need for tailored medicines, and increased healthcare spending in emerging nations.
The market is further driven by the rising prevalence of HIV and cancer. In HIV patients, a flow cytometry-based technique can assist in quantifying and characterize infected cells. Cell sorting has been used in connection with molecular biology methods and proteomics to characterize metastatic and primary cancer cell populations and single tumor cells over time. In addition, the rising frequency of cancers such as lung, colorectal, breast, and liver cancer, among others, is projected to increase cell sorting procedures for cancer research. As a result, the rising prevalence of cancer is a driver for boosting the Latin American cell sorting market demand.
The introduction of microfluidics technology for cell sorting provides an opportunity for the Latin America Cell Sorting Market to grow. Microfluidic cell sorting is gaining popularity due to its ease of use and inexpensive cost compared to other techniques like FACS and MACS. Instruments utilizing microfluidic technology speed up the process by sorting billions of cells per second due to non-magnetic cell sorting technology. The expansion of the cell sorting market is aided by the rising demand for cell treatments to treat various disorders. The market will continue to rise as the senior population grows and the patient pool expands. Furthermore, increased government attempts to improve healthcare facilities, a focus on research, and increased research funding contribute to cell sorting expansion.
Simultaneously, the market's growth is expected to be hampered by high instrument costs and a lack of awareness and technical understanding about how to operate cell sorters. Thus, the difficulties and constraints connected with the usage of cell sorting are posing a challenge to the cell sorting market's demand in Latin America.
This research report on the Latin America cell sorting market has been segmented and sub-segmented into the following categories:
By End User:
Based on the region, the huge rise in spending in the healthcare division has increased the demand for cell sorting in Latin America. Brazil is one of the largest markets in this region, followed by Mexico, Argentina, and Columbia, intensifying their investments in the Cell sorting market. The Latin American market shares 12% of the entire market and rising at a CAGR of 4.89%.
The increased prevalence of chronic diseases that require toxicity testing and the requirement for fast, increasing R&D efforts in the development of multicolor tests and improved reagents accurate and sensitive prognostic tools for disease validation are key drivers. The Latin American Training Program (LATP) promotes the development of hematology competence by providing funds to healthcare professionals for molecular biology and organ transplantation training. Due to various factors for research and development studies, growth in the biotechnology sector is likely to boost the market. Due to rising healthcare expenditure in the area, Brazil had the greatest share of almost 50 percent in 2019. Furthermore, the growing use of molecular diagnostics, combined with economic development and increased patient awareness, is propelling the growth of this regional industry.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Latin American cell sorting market profiled in the report are Becton, Dickinson, and Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Beckman Coulter, Inc. (U.S.), Miltenyi Biotec GmbH (Germany), Affymetrix Inc. (U.S.), Sony Biotechnology, Inc. (U.S.), Sysmex Partec GmbH (Japan), Cytonome/ST, LLC (U.S.), On-Chip Biotechnologies Co., Ltd. (Japan), and Union Biometrica, Inc. (U.S.).
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