Latin America Synthetic Biology Market

Latin American Synthetic Biology Market Size (2023 to 2028)

The size of the Latin America Synthetic Biology Market is predicted to value USD 0.79 billion in 2023 and USD 2.00 billion by 2028, growing at a CAGR of 20.32% from 2023 to 2028.

An increase in the demand for genetically modified crops and advancements in technological DNA studies are driving the Latin American synthetic biology market. The increase in expenditure on research and development of biotechnology and pharmaceutical companies is also driving the market. Extensive research on new and better treatments and the availability of substantial private and public funding to discover novel therapies strengthens the industry. Increase in infrastructure development and growth in investment by the government act as other major drivers. The advancement of gene engineering as CRISPR and DNA will reduce the risks of cancer. Genome engineering, cloning, collaboration, sequencing, nanotechnology, growing R&D funding also drive the Latin American synthetic biology market growth. 

Disciplines that come together to create opportunities are medicine, energy, or the environment. It further identifies the opportunities for growth while detailing the key challenges and threats. The use of synthetic biology in biofuel development, protein therapeutics, personalized medicine, synthetic drugs, and vaccines is gaining recognition in areas of opportunity in the Latin American synthetic biology market. Rising R&D investments for drugs and vaccines would provide lucrative opportunities in the Latin America Synthetic Biology Market by increasing awareness in emerging economies.

The moral principles regarding biosafety and strict regulation of processing are hampering the growth of the Latin American synthetic biology market. The continued efforts by companies to establish superiority over other players may inhibit growth. In addition, the rise in research activities that form as a whole substance may hamper the Latin America Synthetic Biology Market growth.

The major challenge for the growth of the Latin American synthetic biology market is the construction and testing process of biological systems, which is complicated and irregular. Misuse of synthetic biology or the possibility of accidental release of pathogens into the environment is also a significant challenge for the market. Advanced computer operations and design systems have changed the traditional approach of fighting against genetic problems and new diseases.

This research report on the Latin American synthetic biology market has been segmented & sub-segmented into the following categories:

By Tool: 

• Chassis Organisms
• Cloning & Assembly Kits
• Oligonucleotide Synthesis
• Enzymes
• Xeno Nucleic Acid

By Technology: 

• Enabling technologies
  • Gene Synthesis
  • Cloning and Sequencing
  • Genome Engineering
  • Bioinformatics
  • Nanotechnology
  • Site-Directed Mutagenesis
  • Microfluidics
  • Measurement and Modelling
• Enabled technologies
  • Next-Generation Sequencing
  • Pathway Engineering

By Application: 

• Medical
• Environmental
• Industrial

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Regionally, Latin America has the lowest market share and growth rate in the global market, and this trend is expected to continue during the forecast period. However, the growing technological advancements, 3D printing in healthcare, better Artificial intelligence & data analysis software are expected to push the regional market's growth to better levels.

Within Latin American, the Brazilian market is expected to perform well during the forecast period. Brazil has product distribution capabilities, sizeable industrial scale, and well-developed laboratories infrastructure, elevating the growth rate of the Brazilian synthetic biology market. In addition, the Brazilian bioethanol science and technology laboratories collaborate with the UK to use synthetic biology, metagenomics, bioprocessing to provide an alternate way to the high value of chemicals.

Chile market Chile is currently supporting an innovative research project related to synthetic biology-based. Government support through funding to Development of devices, software for synthetic biology products.

KEY MARKET PLAYERS:

Dupont, Intrexon Corporation, Amyris, Inc., Genscript USA, Inc., Integrated Dna Technologies (IDT), Inc., Novozymes, Royal DSM N.V, New England Biolabs, Inc., Synthetic Genomics, Inc., and Thermo Fisher Scientific, Inc. are expected to play a significant role in the Latin American synthetic biology market during the forecast period and profiled in this report.