Our previous posts in this series Latin America Analytical Instrument Economy Watch and Latin America: A Warrior Region have taken a bird’s eye view of developments within the Latin American life science and analytical instrument industry and examined how external environments will impact future growth. If you hope to capitalize on opportunities within the Latin American market, it’s integral to understand which factors influence customers within the region and if/ how much the cultural, political, and governmental atmospheres might impact long-term growth. With our recently published Latin America Tactical Sales and Marketing report, you’ll gain valuable insights into the current regional industry climate and will be able to keep a finger on the pulse of any current and upcoming industry trends.
Rather than looking at the global market as a whole, taking a “region first” approach and examining end-user perspectives can shed some light on how cultural norms, economical changes, and political environments might be influencing what customers in this region expect and need. In addition to valuable market size and demand data, for this report we surveyed more than 200 Latin American scientists on current instrument usage, brand awareness, budgets, purchasing plans, and more.
We discovered that most Latin American scientists work in relatively small labs with less than 10 people. This is unsurprising, as the region’s funding has been rather restricted due to overall economic instability. Respondents also indicated that their instrument budgets were below $50,000 and would remain the same or potentially increase over the next two years.
Our survey also explored and identified growth patterns by region, country and sector. Over one-third of scientists indicted that environmental regulatory compliance would impact their use of analytical instrumentation in the near future.
Although our 2018 Life Science Supplier Customer Experience report showed that a customer’s experience with your product carries more weight than their post-purchase experience (i.e., technical support), our analysts further dissected priorities amongst the region’s countries in this Latin American report. We found that customer service was the top priority for Brazilian and Central America & Caribbean respondents, whereas technical support was the most important touchpoint for non-Brazilian South American respondents when choosing distributors. Knowing these slight differences can be extremely helpful when creating a comprehensive and successful strategy for entry or expansion.
Whether you hope to understand the region as a whole, or focus on one sector or country, our Latin America Tactical Sales and Marketing report provides the necessary information for business decisions in the short term as well as visibility into future market changes. Latin America shows promising growth within the upcoming years, with many sectors showing signs of recovery or strong continued market demand. For more details on the report, download our free report brochure, which contains the Table of Contents and some additional sample data. The full report is available for purchase here.