South and Central America Cell Line Development Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Product, Application

The South and Central America cell line development market is expected to reach US$ 728.17million by 2027 from US$ 304.25 million in 2019; it is estimated to grow at a CAGR of 11.7% from 2020 to 2027.

The market growth is attributed to factors such as growing government initiatives supporting cell line development projects and surge in cancer cases across South and Central America. However, the market growth is likely to be hindered owing to the several challenges regarding cell line development.

Cancer is among the leading causes of death across the globe and is profoundly affecting the quality of life. Lifestyle changes have resulted in greater exposure to oncogenic factors. Thus, cancer would be a burden on society if not diagnosed and treated on time. According to data from the article Revista Brasileira de Cancerologia 2018, there would be ~600,000 new cases of cancer during 2018-2019. The rising prevalence of cancer is escalating the demand for faster and effective therapeutics, which is boosting cell lines development activities. According to the World Health Organization (WHO), in 2018, ~129,047 new cancer cases were diagnosed in this region. Of these, 21,558 were breast cancer cases, while 7,165 were colorectal cancer cases, among others. Moreover, 15 people are diagnosed with cancer every 60 minutes in the country. In Argentina, various cancer types lead to ~68,000 mortalities per year, which is the third-highest cancer-led mortality rate in Latin America. Breast cancer is the most common type of cancer in this country, with 73 cases reported per 100,000 women each year. Cancer can be cured if diagnosed and treated at an initial stage. Next-generation sequencing (NGS) methods provide more information on the cancer-causing genes. Additionally, cell line-based studies aids in the research, diagnostics, and treatment of cancer.

Although a majority of clinical trials occur in high-income countries in South and Central America, the number of trials is increasing in developing countries as well, with major centers in Brazil. However, the pandemic has affected the research and development activities in these countries. Apart from this, a vast population already faces a growing burden of non-communicable diseases, making them more vulnerable to the virus. Further, economic uncertainties and ongoing conflicts are worsening the condition in the region. These factors are estimated to negatively impact the growth of the cell line development market in the region in the coming years. Also, sudden drop in domestic and external demand for goods and products and halted production due to labor shortage experienced as a consequence of the measures imposed to contain the COVID-19 spread. Additionally, tightened financial conditions is also decreasing the overall economic activities in the region.

Based on type, the South and Central America cell line development market is segmented into a primary cell lines, hybridomas, continuous cell lines, and recombinant cell lines. The recombinant cell lines segment held the largest market share in 2019, whereas the hybridomas segment is anticipated to register the highest CAGR in the market during the forecast period.

The South and Central America cell line development market, by product, is segmented into equipment, and media & reagent. The media & reagent segment held a larger share of the market in 2019, and it is further anticipated to register a higher CAGR in the market from 2020 to 2027.

Based on application, the South and Central America cell line development market is segmented into drug discovery, bioproduction, and tissue engineering. The bioproduction segment held the largest market share in 2019. However, the drug discovery segment is estimated to register the highest CAGR in the market during 2020-2027.

A few of the primary and secondary sources referred to while preparing the report on the South and Central America cell line development market are the Brazilian Association of Cell Therapy (ABTCel) and International Association for Stem Cell Application (ISSCA), Argentina.