LATIN AMERICA NGS MARKET - ANALYSIS AND FORECAST, 2024-2034 | BIS RESEARCH

Latin America NGS Market - Analysis and Forecast, 2024-2034 | BIS Research

Latin America NGS Market - Analysis and Forecast, 2024-2034 | BIS Research

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Next-generation sequencing (NGS) is transforming healthcare by enabling comprehensive genomic analysis for personalized medicine. NGS facilitates the use of targeted medicines, accurate tumor profiling, and the discovery of actionable mutations in oncology. Through the use of circulating tumor DNA, it enables non-invasive cancer surveillance in liquid biopsies. Rapid pathogen identification and non-invasive prenatal diagnostics also depend on NGS. The use of NGS is accelerating in Latin America due to the increased rates of genetic diseases and cancer. With the help of public-private partnerships, nations like Brazil and Mexico are making investments in precision medicine and genomic testing. The Latin American NGS industry is expected to grow significantly as clinical laboratories use NGS into diagnosis and research collaborations increase.

In 2024, The Latin America NGS Market was valued at $268.04 million. It is projected to grow at a compound annual growth rate (CAGR) of 8.34%, reaching $597.20 million by 2034.

What are the emerging trends in the Latin America NGS market?


  • Growing Adoption of Personalized Medicine: The Latin America NGS market is growing rapidly due to its expanding role in oncology and infectious disease research, driven by the rising demand for precision medicine and its critical applications in cancer mutation detection and virological studies such as COVID-19 and HBV.

  • Increasing Local Production and Infrastructure: Countries in Latin America are investing in local NGS infrastructure by establishing genomics centers and bioinformatics training programs, such as the CABANA model in Mexico, to reduce reliance on international services and enhance regional genomic research capabilities.

  • Expansion of Genomic Data Accessibility: Efforts to increase the accessibility of genomic data are growing, with partnerships such as Lifebit, Omica.bio, and gen-t in Brazil and Mexico enhancing local data representation in global datasets to support more inclusive and accurate population health research.


Market Segmentation

By Offering



  • Instruments

  • Kits and Consumables

  • Software

  • Services


By Technology



  • Ion Torrent Semiconductor Sequencing

  • Reversible Terminator Sequencing (SBS)

  • Single Molecule Real-Time Sequencing

  • Nanopore Sequencing Technologies


By Application

  • Clinical



  • Translational Research


By End User



  • Hospitals and Clinics

  • Academic and Research Institutes

  • Pharmaceutical and Biotechnology Companies

  • Government Labs


What are the main challenges or barriers to NGS adoption in Latin America?

  • Cost-Effectiveness: The high expense of next-generation sequencing (NGS) testing continues to prevent its broad use in the region, which in turn prevents the Latin America NGS market from expanding, especially in countries with much lower average incomes like Brazil, Mexico, and Argentina. Notwithstanding worldwide cost decreases, issues with affordability still prevent NGS from being fully incorporated into regional healthcare systems.



  • Lack of Funding and Reimbursement:The region's public healthcare systems lack the funds necessary to build the necessary infrastructure for genetic testing, which forces reliance on expensive private labs and impedes the expansion of the Latin American NGS industry. NGS uptake and sustainability in the region are further limited by the high cost of clinical exome sequencing and low reimbursement rates, especially in the public sector.



  • Lack of Education, Awareness, and Specialists: One of the main obstacles to the wider adoption of genomic technologies in Brazil is the lack of knowledge among patients and healthcare professionals about these technologies, including whole genome and exome sequencing, as well as a lack of medical education and specialized professionals. The efficient use of these technologies is hampered by this knowledge gap, unclear guidelines, and restricted access to experts.


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Conclusion

The Latin America NGS market is poised for significant growth, driven by increasing demand for personalized medicine, advancements in genomic infrastructure, and expanding research collaborations. Opportunities in fields including growing genetic data, setting up diagnostic centers, and incorporating NGS into healthcare systems present a bright future despite obstacles like exorbitant costs, a lack of funding, and a shortage of skilled workers. The Latin American NGS market is anticipated to play a significant role in the advancement of global healthcare as local genomic capabilities increase and accessibility improves.

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