Latin America Next-Generation Sequencing Market to Reach $597.20 Million by 2034 – BIS Research

Market Overview: 

Market Size and Growth Rate: 

The Latin America NGS market is estimated to grow from $268.04 million in 2024 to $597.20 million by 2034, registering a compound annual growth rate (CAGR) of 8.34% during the forecast period. 

Trends & Innovation: 

Key trends shaping the market include the adoption of single-cell sequencing, rapid developments in nanopore and third-generation sequencing, and growing reliance on AI-enabled genomic analytics. Companies are focusing on creating end-to-end NGS workflows that combine wet-lab automation with bioinformatics tools. Additionally, cost reduction in sequencing and cloud-based genomic platforms is enabling broader access, even in resource-limited settings. The integration of NGS with precision medicine and electronic health records is also emerging as a transformative trend. 

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Key Highlights:

Report USP: 

• Regional outlook with 10-year forecasts and CAGR analysis 
• Coverage of key application areas: oncology, rare diseases, infectious diseases 
• Competitive benchmarking of major NGS service and product providers 
• In-depth focus on policy, infrastructure, and investment trends in Latin America 
• Case-based insights into successful NGS adoption in public health and hospitals 

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Demand Drivers, Challenges & Opportunities: 

Demand Drivers 

The Latin America NGS market is gaining momentum due to the rising burden of diseases like cancer and the growing need for precision diagnostics. NGS enables early detection and targeted treatment, making it a vital tool in oncology and infectious disease research. Growth is further supported by regional initiatives such as the CABANA project and global partnerships with companies like MGI Tech and BGI Genomics, which are strengthening local sequencing infrastructure and expanding access to advanced genomic technologies. 

Challenges 

Despite its potential, the market faces key challenges. High testing costs remain a major barrier in low- and middle-income countries like Brazil, Mexico, and Argentina. Limited public healthcare funding and inadequate reimbursement restrict access to NGS, especially in rural areas. Moreover, a lack of trained specialists and awareness among healthcare providers and patients slows adoption, with minimal genomic education and unclear clinical guidelines adding to the problem. 

Opportunities 

The market holds strong growth potential through the expansion of diagnostic centers and integration of NGS into public health initiatives like 'Telessaude' and 'Hello Genetics' to improve rare disease care in underserved regions. There is also a critical opportunity to build region-specific genomic databases, which would enhance variant classification, support genetic research, and improve the accuracy and impact of NGS solutions tailored to Latin America’s diverse population. 

Market Segmentation 

Segmentation 1: Offering based segmentation 

•    Instruments: This segment includes integrated workflow instruments, sequencing instruments, and library preparation instruments. 

•    Kits and Consumables: This segment includes library preparation kits, target enrichment kits, sequencing kits, and multi-use kits. 

•    Software 

•    Services 

Segmentation 2: Technology based segmentation 

•    Ion Torrent Semiconductor Sequencing 

•    Reversible Terminator Sequencing (SBS) 

•    Single Molecule Real Time Sequencing 

•    Nanopore Sequencing Technologies 

•    Other Technologies: It includes SOLiD sequencing, 10x Genomics' Chromium Technology, etc. 

Segmentation 3:  Application based segmentation 

•    Clinical: It includes oncology, neurological diseases testing, reproductive health testing, rare disease diagnostics, infectious disease testing, and others. 

Segmentation 4:  End User based segmentation 

•    Hospitals and Clinics 

•    Academic and Research Institutes 

•    Pharmaceutical and Biotechnology Companies 

•    Government Labs 

•    Other End Users 

Competitive Landscape: 

1.Illumina 

• Market leader with platforms like NovaSeq and MiSeq 
• Strong in both clinical and research applications 
• Offers a wide range of consumables and sequencing services 

2.Thermo Fisher Scientific 

• Competes with Ion Torrent platforms 
• Broad portfolio of NGS kits, reagents, and prep solutions 
• Serves diverse sectors including healthcare and agriculture 

3.Pacific Biosciences (PacBio) 

• Known for long-read HiFi sequencing 
• Ideal for de novo genome assembly and complex genetic studies 
• Holds a niche market share in Latin America 

4.Oxford Nanopore Technologies 

• Offers portable, real-time sequencing (e.g., MinION) 
• Cost-effective and field-deployable 
• Small market share but high future growth potential 

Strategic Initiatives: 

Market leaders are focusing on expanding their footprint through distributor partnerships, local manufacturing, and clinical collaborations. For instance, Illumina has partnered with Brazilian healthcare institutions for oncology-based sequencing programs, while Thermo Fisher is working with diagnostic labs to offer bundled genomic services. Companies are also investing in training programs to bridge the skills gap in genomics across Latin America. 

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Case Studies & Success Stories: 

In Brazil, government-funded initiatives have integrated NGS into national disease monitoring programs, leading to faster response times during viral outbreaks. A notable case is the use of NGS during the COVID-19 pandemic, where local labs helped identify new variants. In Mexico, academic institutions have collaborated with biotech firms to develop region-specific genomic databases, improving the accuracy of rare disease diagnosis and personalized treatment strategies. These early successes are setting the stage for scalable, sustainable NGS implementation across Latin America. 

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About BIS Research 

BIS Research is a global B2B market intelligence and advisory firm focusing on deep technology and related emerging trends, which can disrupt the market dynamics in the near future. We publish over 200 market intelligence studies annually, focusing on several deep technology verticals.   

Our strategic market analysis emphasizes market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.    

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