F. Hoffmann -La Roche Ltd, Mobius Life Science, Co-Diagnostics, Inc, and Bioinnovo, among others, are the major players in the Latin America market for COVID-19 diagnostics.
The Latin America COVID-19 diagnostics market performed about 29 million tests for COVID-19 as of March 2021. As per the analysis by Expert Market Research, the market is expected to be driven by the increasing demand for PCR based diagnostics.
Increasing demand for PCR tests accounts for a substantial share in the market. Since the PCR technique is considered to be the most effective in detecting Covid-19, there is an increasing demand for PCR research kits. Many hospitals, medical centres and research institutes are in favour of this method of identification, as it has many advantages over other methods.
Brazil has emerged as a significant region for the Latin America COVID-19 diagnostics market due to the high number of tests done here. Brazil witnessed a sudden spike in the cases during the second wave of COVID-19, as compared to the first wave. Ever since the emergence of COVID-19, Latin America has suffered due to poor healthcare facilities. Hence, the government performed tests at a higher speed.
Rapid testing became the standard testing technique in order to guarantee that both the spread and the number of deaths are under control. As a result, the demand for COVID-19 testing kits increased in the area. Travelers visiting Latin America were required to be tested as well as the region's residents, which is predicted to positively promote the market's expansion. Since there is no way of knowing when the pandemic will stop, the market is anticipated to rise for a while.
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F. Hoffmann-La Roche Ltd is the world’s number one biotech company with seventeen pharmaceuticals in the market. By developing cutting-edge medications and diagnostic tools, the company is dedicated to enhancing people's lives on a global scale. It is one of the first businesses to offer patients the necessary therapies. Companion diagnostics accounts for two thirds of their research and development efforts. F. Hoffmann has also invested in cancer research and treatment for the past 50 years. Their diagnostic areas of interest include diabetes, tissue/haematology/urine diagnostics, and coagulation testing.
Mobius develops and markets products for the diagnostic medicine segment, providing nucleic acid extraction kits, and in0vitro molecular diagnosis of infectious diseases. The kits are a cost-effective solution for laboratories. The company uses real time PCR technology and serology for the diagnosis of genetic diseases, and oncology.
|Headquarters:||Utah, United States|
Co-Diagnostics offers a wide variety of products and services that cater to the needs of diagnostic laboratories and research institutes all over the world that rely on PCR technology. The company provides modern tools for diagnosis of infectious diseases, and liquid biopsies for cancer screening. Their molecular diagnostic technology opens ways for innovation in diagnosis and research through enhanced detection of genetic material. They own all the technology required for their designing of products. The company also uses unique products for the molecular diagnostic market allowing testing at more affordable prices.
|Headquarters:||Buenos Aires, Argentina|
Bioinnovo is committed to transforming scientific facts into innovative products. They develop innovative products for animal industry. BioInnovo SA was a part of a team which was responsible for developing avian IgY antibodies that neutralise the virus that causes COVID-19. It is present in many international conferences and participates in scientific publications as a leading supplier of highly complex and efficient technical services.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.