The Latin America Proteomics Market had a market value of USD 2.82 billion in 2023 and is forecasted to exhibit a CAGR of 12.4% and reach USD 5.06 billion by 2028.
The proteomics market in Latin America is majorly driven by the proliferation of cancer across the region. Also, increasing research activities in personalized and drug discovery are expected to drive market growth. The pharmaceutical and biotechnology companies are largely involved in the research and development activities, and increasing the R&D expenditure is projected to boost the market growth.
Also, the technological advancement in proteomics is expected to provide lucrative growth opportunities to the market players. On the other hand, the proteome industry is anticipated to be propelled ahead by attractive prospects associated with biomarker discovery and advancements in mass spectrometry-based proteomics.
Several significant discoveries in life sciences have been achieved in the last decade, one of which is completing the human genome sequence. The next significant biomedical milestone was the characterization of human protein, a relatively new and highly active branch of science focused on assessing gene expression at the proteome level. Several proteomics applications have been linked to nanotechnology, including phosphoproteomics/metal oxide nanoparticles, nanostructured surfaces for protein separation, and array-based analytical detection of biomarker proteins. As a result, nano proteomics, a discipline combining proteomics techniques assisted by nanotechnology, has developed. Furthermore, this method is combined with other nanotechnology applications to revolutionize proteomics, such as nanoporous structures, functionalized nanoparticles, quantum dots, and polymeric nanostructures.
However, stringent government regulation and the high cost of research & development are restraining the market growth. Also, shortage of skilled professionals, lack of knowledge about the application of proteomics are expected to limit the market growth.
This research report on the Latin American Proteomics Market has been segmented and sub-segmented into the following categories:
By Instrument Type:
By Software & Service:
Geographically, the Latin American proteomics market is expected to witness a promising share in the global proteomics market during the forecast period driven by the growing adoption of advanced proteomics and major market players such as Brazil and Mexico Latin American regional market growth. Also, Latin America is witnessing improving healthcare infrastructure, technological advancements owing to the favorable reimbursement policies.
The Brazilian proteomics market dominates the Latin American market and accounts for the largest share of the market during the forecast period. However, the market is anticipated to have a significant share due to the increasing spending on the discovery and development of drugs and technological advancements in the healthcare sector.
The Mexican proteomics market is anticipated to grow at a significant pace during the forecast period. The major companies are increasing their research and development activities on the proteomic, which will likely provide considerable growth opportunities for the market players.
KEY MARKET PLAYERS:
\Agilent Technologies Inc., Bio-Rad Laboratories, Inc., Bruker Corporation, Danaher Corporation, GE Healthcare, Luminex Corporation, Merck KGaA, PerkinElmer Inc., Thermo Fisher Scientific, Inc., and Waters Corporation are some of the notable players in the Latin American proteomics market.
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