Market by Product and Service, Type, Application, Technology, Industry Vertical, and Country Outlook | Forecast 2024-2032
Triton’s report suggests that the multiplex assay market in Latin America is projected to garner a CAGR of 7.50% during the forecast period 2024-2032.
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The countries evaluated in the region include:
• Brazil
• Mexico
• Rest of Latin America
The growth of the multiplex assay market in Latin America is chiefly propelled by the rising incidence of cancer and ongoing projects aimed at enhancing multiplex assay technologies in the region. Moreover, the surge in breast cancer cases in Brazil is anticipated to boost the utilization of multiplex assays for tailoring cancer treatments.
Brazil captures the majority shares across the region. The growth of the market in Brazil is being fueled by several factors, including the rising prevalence of chronic diseases, an expanding elderly demographic, and heightened awareness. According to the World Population As per projections, Brazil’s population aged 65 years or older is expected to rise substantially by 2030, thereby creating demand multiplex assay technology.
Furthermore, the incidence of cancer in Brazil is increasing. According to the International Agency for Research on Cancer, cancer cases are expected to rise to 998,056 by 2040. This significant cancer burden has prompted increased governmental efforts, which is expected to create substantial opportunities for the multiplex assay market.
The United Nations reported that in 2020, 14.5 million individuals aged 60 or above constituted 11% of the total population in Mexico. Projections suggest that by 2050, one in four individuals in Mexico will be 60 or older. Currently, 11% of Mexico’s population falls within this age bracket, indicating a significant aging trend. This demographic transition creates lucrative opportunities for the multiplex assay market across Mexico.
Clinical laboratories employ multiplex assays to diagnose various diseases like cancer, HIV, and more. The trend of adopting multiplex assays is growing as it aids in saving time and effort for lab technicians by simultaneously analyzing multiple analytes. An example of this adoption is the collaboration between Chembio Diagnostics and FIND in 2017 to develop a point-of-care test capable of identifying several severe febrile illnesses.
The market’s development is determined based on industry vertical, type, technology, product and service, and application. Based on industry vertical, it is sub segmented into clinical laboratories, hospitals, pharmaceutical & biotechnology companies, and research institutes.
The well-known companies thriving in the market consist of Becton, Dickinson and Company, Bio-Techne Corporation, Bio-Rad Laboratories Inc, and Illumina Inc.
BD, also known as Becton, Dickinson and Company, is a prominent player in the medical technology sector. Its operations are divided into three main segments: BD Medical, BD Life Sciences, and BD Interventional. The BD Life Sciences segment provides products for specimen collection, diagnostics transport, and reagent systems for detecting various diseases, including infectious diseases and cancers. The company caters to a diverse clientele across multiple regions, including Latin America.
KEY DELIVERABLES OF THE REPORT:
Market CAGR during the forecasting years 2024-2032
Detailed data highlighting key insights, industry components, and market strategies
Comprehensive information and estimation of the multiplex assay market revenue growth in Latin America and its influence on the parent market
In-depth study of forthcoming trends in consumer behavioral patterns
A meticulous analysis of the competitive landscape and Porter’s Five Forces
A wide-ranging study of factors that will challenge the Latin America multiplex assay market’s growth during the upcoming years
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VIEW REPORT1. LATIN
AMERICA MULTIPLEX ASSAY MARKET- SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE MULTIPLEX ASSAY MARKET
2.1.1. IMPACT
OF COVID-19 ON THE MULTIPLEX ASSAY MARKET
2.2. PORTER’S
FIVE FORCES MODEL
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTE PRODUCTS
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. COMPETITIVE
RIVALRY
2.3. KEY
BUYING IMPACT ANALYSIS
2.3.1. ANALYTE
COVERAGE
2.3.2. SPEED
2.3.3. MULTIPLEXING
CAPABILITY
2.3.4. EASE
OF USE
2.3.5. AUTOMATION
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. KEY
MARKET STRATEGIES
2.5.1. CONTRACTS
AND PARTNERSHIPS
2.5.2. BUSINESS
EXPANSIONS & DIVESTITURES
2.5.3. ACQUISITIONS
& MERGERS
2.5.4. PRODUCT
LAUNCHES & DEVELOPMENTS
2.6. MARKET
DRIVERS
2.6.1. ADOPTION
OF PERSONALIZED MEDICINES
2.6.2. HIGH
ADOPTION OF MULTIPLEX ASSAYS OVER TRADITIONAL METHODS
2.6.3. INCREASING
PREVALENCE OF CHRONIC DISEASES
2.7. MARKET
CHALLENGES
2.7.1. ISSUES
RELATED TO CROSS-REACTIVITY AND ASSAY INTERFERENCE
2.7.2. CHALLENGE
IN ACHIEVING ADEQUATE ASSAY RANGE
2.7.3. DEARTH
OF SKILLED PROFESSIONALS
2.8. MARKET
OPPORTUNITIES
2.8.1. TECHNOLOGICAL
ADVANCEMENTS IN ASSAY PLATFORMS
2.8.2. RAPID
GROWTH OF COMPANION DIAGNOSTICS
2.8.3. GROWTH
IN DRUG DISCOVERY INITIATIVES
2.9. ANALYST
PERSPECTIVE
3. LATIN
AMERICA MULTIPLEX ASSAY MARKET - BY PRODUCT AND SERVICE
3.1. REAGENTS
AND CONSUMABLES
3.2. INSTRUMENTS
AND ACCESSORIES
3.3. SOFTWARE
AND SERVICES
4. LATIN
AMERICA MULTIPLEX ASSAY MARKET - BY TYPE
4.1. PROTEIN-BASED
MULTIPLEX ASSAY
4.2. NUCLEIC
ACID-BASED MULTIPLEX ASSAY
4.3. OTHER
MULTIPLEX ASSAYS
5. LATIN
AMERICA MULTIPLEX ASSAY MARKET - BY APPLICATION
5.1. RESEARCH
AND DEVELOPMENT
5.2. CLINICAL
DIAGNOSTICS
5.3. COMPANION
DIAGNOSTICS
6. LATIN
AMERICA MULTIPLEX ASSAY MARKET - BY TECHNOLOGY
6.1. MULTIPLEX
PROTEIN MICROARRAY
6.2. MULTIPLEX
PCR
6.3. OTHER
TECHNOLOGIES
7. LATIN
AMERICA MULTIPLEX ASSAY MARKET - BY INDUSTRY VERTICAL
7.1. PHARMACEUTICAL
& BIOTECHNOLOGY COMPANIES
7.2. RESEARCH
INSTITUTES
7.3. CLINICAL
LABORATORIES
7.4. HOSPITALS
8. LATIN
AMERICA MULTIPLEX ASSAY MARKET – BY COUNTRY OUTLOOK
8.1. BRAZIL
8.1.1. BRAZIL
MULTIPLEX ASSAYS MARKET FORECAST & PROSPECTS
8.2. MEXICO
8.2.1. MEXICO
MULTIPLEX ASSAYS MARKET FORECAST & PROSPECTS
8.3. REST
OF LATIN AMERICA
8.3.1. REST
OF LATIN AMERICA MULTIPLEX ASSAYS MARKET FORECAST & PROSPECTS
9. COMPETITIVE
LANDSCAPE
9.1. ABCAM
LIMITED
9.1.1. OVERVIEW
9.1.2. PRODUCT
PORTFOLIO
9.2. AGILENT
TECHNOLOGIES INC
9.2.1. OVERVIEW
9.2.2. PRODUCT
PORTFOLIO
9.2.3. KEY
STRENGTHS
9.2.4. KEY
CHALLENGES
9.3. BECTON
DICKINSON AND COMPANY (BD)
9.3.1. OVERVIEW
9.3.2. PRODUCT
PORTFOLIO
9.3.3. KEY
STRENGTHS
9.3.4. KEY
CHALLENGES
9.4. BIO-RAD
LABORATORIES INC
9.4.1. OVERVIEW
9.4.2. PRODUCT
PORTFOLIO
9.4.3. KEY
STRENGTHS
9.4.4. KEY CHALLENGES
9.5. BIO-TECHNE
CORPORATION
9.5.1. OVERVIEW
9.5.2. PRODUCT
PORTFOLIO
9.6. F.
HOFFMANN-LA ROCHE LTD
9.6.1. OVERVIEW
9.6.2. PRODUCT
PORTFOLIO
9.6.3. KEY STRENGTHS
9.6.4. KEY CHALLENGES
9.7. ILLUMINA
INC
9.7.1. OVERVIEW
9.7.2. PRODUCT
PORTFOLIO
9.7.3. KEY STRENGTHS
9.7.4. KEY CHALLENGES
9.8. MERCK
MILLIPORE
9.8.1. OVERVIEW
9.8.2. PRODUCT
PORTFOLIO
9.9. OLINK
PROTEOMICS AB
9.9.1. OVERVIEW
9.9.2. PRODUCT
PORTFOLIO
9.10. QIAGEN
NV
9.10.1. OVERVIEW
9.10.2. PRODUCT
PORTFOLIO
9.10.3. KEY STRENGTHS
9.10.4. KEY CHALLENGES
9.11. RANDOX
LABORATORIES LTD
9.11.1. OVERVIEW
9.11.2. PRODUCT
PORTFOLIO
9.12. SEEGENE
INC
9.12.1. OVERVIEW
9.12.2. PRODUCT
PORTFOLIO
9.13. SIEMENS
HEALTHINEERS AG
9.13.1. OVERVIEW
9.13.2. PRODUCT
PORTFOLIO
9.13.3. KEY
STRENGTHS
9.13.4. KEY
CHALLENGES
9.14. THERMO
FISHER SCIENTIFIC INC
9.14.1. OVERVIEW
9.14.2. PRODUCT
PORTFOLIO
9.14.3. KEY
STRENGTHS
9.14.4. KEY
CHALLENGES
10. RESEARCH
METHODOLOGY & SCOPE
10.1. RESEARCH
SCOPE & DELIVERABLES
10.2. SOURCES
OF DATA
10.3. RESEARCH
METHODOLOGY
TABLE
1: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY COUNTRY OUTLOOK, HISTORICAL YEARS,
2020-2023 (IN $ MILLION)
TABLE
2: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY COUNTRY OUTLOOK, FORECAST YEARS,
2024-2032 (IN $ MILLION)
TABLE
3: CONTRACTS AND PARTNERSHIPS
TABLE
4: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
TABLE
5: ACQUISITIONS & MERGERS
TABLE
6: LIST OF NEW PRODUCT LAUNCHES & DEVELOPMENTS
TABLE
7: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY PRODUCT AND SERVICE, 2024-2032 (IN
$ MILLION)
TABLE
8: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY TYPE, 2024-2032 (IN $ MILLION)
TABLE
9: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY APPLICATION, 2024-2032 (IN $
MILLION)
TABLE
10: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY TECHNOLOGY, 2024-2032 (IN $
MILLION)
TABLE
11: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY INDUSTRY VERTICAL, 2024-2032 (IN $
MILLION)
TABLE
12: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY COUNTRY OUTLOOK, 2024-2032 (IN $
MILLION)
FIGURE
1: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY PRODUCT AND SERVICE, 2023 & 2032
(IN %)
FIGURE
2: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY REAGENTS AND CONSUMABLES, 2024-2032
(IN $ MILLION)
FIGURE
3: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY INSTRUMENTS AND ACCESSORIES,
2024-2032 (IN $ MILLION)
FIGURE
4: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY SOFTWARE AND SERVICES, 2024-2032
(IN $ MILLION)
FIGURE
5: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY TYPE, 2023 & 2032 (IN %)
FIGURE
6: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY PROTEIN-BASED MULTIPLEX ASSAY,
2024-2032 (IN $ MILLION)
FIGURE
7: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY NUCLEIC ACID-BASED MULTIPLEX ASSAY,
2024-2032 (IN $ MILLION)
FIGURE
8: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY OTHER MULTIPLEX ASSAYS, 2024-2032
(IN $ MILLION)
FIGURE
9: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY APPLICATION, 2023 & 2032, (IN %)
FIGURE
10: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY RESEARCH AND DEVELOPMENT,
2024-2032 (IN $ MILLION)
FIGURE
11: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY CLINICAL DIAGNOSTICS, 2024-2032
(IN $ MILLION)
FIGURE
12: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY COMPANION DIAGNOSTICS, 2024-2032
(IN $ MILLION)
FIGURE
13: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY TECHNOLOGY, 2023 & 2032 (IN %)
FIGURE
14: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY MULTIPLEX PROTEIN MICROARRAY,
2024-2032 (IN $ MILLION)
FIGURE
15: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY MULTIPLEX PCR, 2024-2032 (IN $
MILLION)
FIGURE
16: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY OTHER TECHNOLOGIES, 2024-2032 (IN
$ MILLION)
FIGURE
17: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY INDUSTRY VERTICAL, 2023 & 2032
(IN %)
FIGURE
18: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY PHARMACEUTICAL & BIOTECHNOLOGY
COMPANIES, 2024-2032 (IN $ MILLION)
FIGURE
19: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY RESEARCH INSTITUTES, 2024-2032 (IN
$ MILLION)
FIGURE
20: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY CLINICAL LABORATORIES, 2024-2032
(IN $ MILLION)
FIGURE
21: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY HOSPITALS, 2024-2032 (IN $
MILLION)
FIGURE
22: LATIN AMERICA MULTIPLEX ASSAY MARKET, BY COUNTRY OUTLOOK, 2023 & 2032
(IN %)
FIGURE
23: BRAZIL MULTIPLEX ASSAYS MARKET 2024-2032 (IN $ MILLION)
FIGURE
24: MEXICO MULTIPLEX ASSAYS MARKET 2024-2032 (IN $ MILLION)
FIGURE
25: REST OF LATIN AMERICA MULTIPLEX ASSAYS MARKET 2024-2032 (IN $ MILLION)