At 7.5% CAGR, South & Central America Transfection Reagents and Equipment Market is Projected to be Worth US$ 99.22 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the South & Central America transfection reagents and equipment market was valued at US$ 55.80 million in 2022 and is expected to reach US$ 99.22 million by 2030, registering a CAGR of 7.5% from 2022 to 2030. Increasing popularity of cell and gene therapy and strategic initiatives by companies are among the critical factors attributed to the South & Central America transfection reagents and equipment market expansion.

Cell and gene therapy manufacturing is a complicated process, which makes its execution and monitoring critical. Advancements in biotechnology have led to the adoption of personalized treatments for the treatment of numerous indications. Cell and gene therapies mostly are used to treat chronic diseases such as neurological disorders, cancer, and genetic disorders. The noteworthy advantages of cell and gene therapy include targeted treatment, faster and more efficient recovery, and reduced side effects. Cell and gene therapies are widely adopted across the world owing to the availability of Food and Drug Administration (FDA) approved products. For instance, the FDA approved an adenovirus ADSTILADRIN manufactured by Ferring Pharmaceuticals A/S in 2022. This recombinant adenovirus (rAd-IFNa/Syn3) delivers human interferon alfa-2b cDNA into the bladder epithelium to treat patients suffering from certain types of bladder cancer. In 2022, CARVYKTI, manufactured by Janssen Biotech, Inc., was also approved by the FDA. CARVYKTI is an autologous CAR-T cell engineered with lentivirus to attack BCMA-expressing tumor cells for the treatment of certain kinds of relapsed or refractory multiple myeloma. Scientists are nowadays employing the transfection technique for the production of these therapies. Hence, an upsurge in the popularity of cell and gene therapy activities fuels the number of transfection procedures performed, which, in turn, fuels the growth of the South & Central America transfection reagents and equipment market.

On the contrary, high cost of instruments and consumables hampers the growth of South & Central America transfection reagents and equipment market.

Based on product, the South & Central America transfection reagents and equipment market is bifurcated into reagents and instruments. The reagents segment held 75.6% share of the South & Central America transfection reagents and equipment market in 2022, amassing US$ 42.18 million. It is projected to garner US$ 75.64 million by 2030 to expand at 7.6% CAGR during 2022-2030.

In terms of method, the South & Central America transfection reagents and equipment market is segmented into viral methods, non viral methods, and hybrid methods. The non-viral methods segment held 57.5% share of the South & Central America transfection reagents and equipment market in 2022, amassing US$ 32.06 million. It is estimated to garner US$ 57.69 million by 2030 to expand at 7.6% CAGR during 2022-2030. The viral segment is subcategorized into retrovirus, adenovirus, adeno associated virus, and herpes virus. The non-viral segment is bifurcated into physical/mechanical method and chemical method. Further, the physical/mechanical method segment is subcategorized into electroporation, microinjection, biolistic method, laser method, magnetofection, and sonoporation. Also, the chemical method segment is subcategorized into liposomal based/high lipid and non-liposomal/high lipid based.

By application, the South & Central America transfection reagents and equipment market is segmented into biomedical research, protein production, and therapeutic delivery. The biomedical research segment held 52.3% share of South & Central America transfection reagents and equipment market in 2022, amassing US$ 29.19 million. It is predicted to garner US$ 52.63 million by 2030 to expand at 7.6% CAGR during 2022-2030.

Based on end user, the South & Central America transfection reagents and equipment market is bifurcated into academics & research institutes and pharmaceutical & biotechnology companies. The academics & research institutes segment held 65.8% share of the South & Central America transfection reagents and equipment market in 2022, amassing US$ 36.70 million. It is projected to garner US$ 64.84 million by 2030 to expand at 7.4% CAGR during 2022-2030.

Based on country, the South & Central America transfection reagents and equipment market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil held 61.2% share of South & Central America transfection reagents and equipment market in 2022, amassing US$ 34.14 million. It is projected to garner US$ 61.99 million by 2030 to expand at 7.7% CAGR during 2022-2030.

Key players operating in the South & Central America transfection reagents and equipment market are Thermo Fisher Scientific Inc, Promega Corp, F. Hoffmann-La Roche Ltd, Bio-Rad Laboratories Inc, Mirus Bio LLC, QIAGEN NV, Merck KGaA, Lonza Group AG, and MaxCyte Inc, among others.

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