The Latin American single-cell analysis market size is estimated to be growing at a CAGR of 17.13% from 2023 to 2028 and be worth USD 0.69 billion by 2028 from USD 0.31 billion in 2023.
The growing investment and public funds for research and development in the medical diagnostics field, the availability and awareness of technically advanced devices, and the growing adoption of the single-cell analysis technique are some of the factors majorly fueling the growth rate of the single-cell analysis market in the Latin American region. Additionally, single-cell amplification technology and manipulation techniques have led to the various uses of high-grade products in assays, leading to the market's growth. On the other hand, the increase in investment in medical diagnostics and the advent of technology in single-cell amplification and manipulation techniques are accelerating market growth.
Also, the surge in the implementation of unicellular genomic/transcriptomic analysis in the biomedical field due to the rapid development of microfluidic devices and the increased demand for analysis tools and technological advancements are further influencing the market growth. Furthermore, technological advances in cellular sequencing will transform the landscape for single-cell omics research applications in the region, including transcriptomics, epigenomics, and genomics. Significant advances in sequence reproducibility and lower costs have made it possible to process many samples.
The growing demand for analysis tools and technological advances has led to the introduction of high-performance machines. In addition, several innovations have led to the introduction of new features such as high sensitivity, precision, and efficiency when using small samples. Therefore, the significant players invest large sums in developing solutions that create a lucrative growth opportunity in the coming years.
However, the high cost of R&D, the lack of qualified professionals, and ethical and legal interpretation issues hamper the market growth. In addition, the stringent patent rights concerns and approvals for single-cell analysis products are the major factors hindering the Latin American single-cell analysis market. Furthermore, most of the instruments used for single-cell analysis are expensive. This is one of the challenges of this market.
This research report on the Latin America Single Cell Analysis Market has been segmented and sub-segmented into the following categories.
Regionally, the Latin American single-cell analysis market is expected to account for a significant share of the global market during the forecast period due to the increasing applications of single-cell assays in cancer research. However, the demand for adequate research infrastructure remains a significant challenge for the Latin American single-cell analysis market. In addition, over the past decades, several government initiatives have been launched to revive the expansion of the Latin American single-cell analysis market.
In 2022, Brazil dominated the Latin American single-cell analysis market. Growing biotechnology and biopharmaceutical industries and increasing applications of single-cell testing in cancer research are driving the Brazil single-cell testing market. The development of the Brazil region is mainly due to the growing need for stem cell treatments for healing, the increasing number of patients in the region, and the increase in various chronic diseases in all age groups.
On the other hand, the market in Argentina is expected to be the region to be the fastest-growing market. In addition, the increasing prevalence of chronic lifestyle diseases in the population is another growth driver for the single-cell analysis market.
KEY MARKET PLAYERS:
Some of the top companies leading the Latin America single-cell analysis market profiled in the report are Merck KGaA, Becton, Dickinson and Company, Promega Corporation, Danaher Corporation, General Electric Company, Thermo Fisher Scientific, Miltenyi Biotec, Illumina, Bio-Rad Laboratories, Fluidigm Corporation, NanoString Technologies, Agilent Technologies, Abcam Plc, NuGEN Technologies Inc., LumaCyte, PluriSelect Life Science UG & Co. KG, Sysmex Partec, Bio-Techne Corporation, Promega Corporation, 10x Genomics, WaferGen Bio-systems, Bruker, and Fluxion Bioscience.
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