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The Latin America COVID-19 diagnostics market size reached an approximate value of USD 1.87 billion in 2021. The market is being aided by the growing cases of COVID-19 infections countries such as Brazil, and growing safety precautions.
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Based on test type, the PCR test segment accounts for a significant share in the industry. Currently, the PCR technique is thought to be the most effective for detecting COVID-19, resulting in a massive rise in the use of PCR research kits. Laboratories, hospitals, medical centres and clinics, and research institutes favour the PCR approach for identification over others because of its advantages. PCR is perhaps the most important molecular technique ever devised. Since it eliminated the need for post-reaction manipulation, real-time quantitative PCR (qPCR) revolutionised the clinical implementation of PCR. While qPCR has been around for over two decades, it has only been used in clinical environments, where other approaches are not feasible, such as tracking therapy in diseases like chronic-phase chronic myeloid leukaemia, or for a few main blood-borne viruses.
Many organisations have begun designing PCR-based diagnostic testing for efficient diagnosis as the number of COVID-19 cases grows exponentially across the world. More than 100 PCR-based diagnostic tests were licenced or are in the development process for clinical use as of May 2020. This high number suggests this technology's market superiority, thus, resulting in a strong sales share for this segment over the projected era.
Brazil is likely to emerge as a viable growth ground for the COVID-19 diagnostics industry on a regional level due to the highest number of tests done in the world. Brazil has been drastically hit by the pandemic with around a quarter million deaths in the past year. With the second wave incoming, Brazil is witnessing a sudden surge, which is expected to be far worse than the first wave, thus, increasing the demand for COVID-19 testing kits. Even though the number of cases is on a constant decline in rest of the world, the Brazilian market will continue to grow.
In rest of Latin America, the demand seems to be growing with time due to lack of resources and the presence of large number of low-income families. Countries like Argentina, Chile, and Peru are expected to observe a high rate of growth in the forecast period.
COVID-19 research and diagnostic entails processing samples to determine if SARS-CoV-2 is present or has been present in the past. The virus or the antibodies formed in response to infection are detected by the two main branches. Molecular tests for viral presence based on the molecular components are used to detect specific patients as well as to help public health officials track down and control outbreaks. Antibody examinations (serology immunoassays) are used to determine if a person has ever had the disease. Since antibodies may not mature until weeks after diagnosis, they are less effective for diagnosing current infections. It is used to figure out how common an illness is, which helps in estimating the infection fatality risk.
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By test type, the market is classified into:
The market is divided based on product into:
The market is segmented based on sample type into:
On the basis of business model, the market can be categorised into:
Based on end use the market is classified into:
The regional markets for the product include Brazil, Mexico, Argentina, and Colombia, among other countries.
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Since the advent of COVID-19, Latin America has suffered the most due to lack of healthcare facilities and weak government laws, which led to a staggering increase in the number of cases in the first few months. Due to the high number of cases, the government had to perform the tests at a fast pace but due to lack of healthcare facilities, the countries such as Brazil had to import a large number of COVID-19 testing kits from other countries like the United States and China. To ensure that the number of deaths are controlled along with the spread, rapid testing became the go to testing method. This led to a rise in demand for COVID-19 testing kits in the region. Apart from the population of Latin America, people who travel to the continent need to get tested too, which is expected to support the growth of the market positively. The market is expected to grow for a while as there is no knowing when the pandemic will end, and as things are going the number of cases is exponentially increasing in Latin America.
The report gives a detailed analysis of the following key players in the Latin America COVID-19 diagnostics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the industry based on Porter's five forces model along with giving a SWOT analysis.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Test Type, Product, Sample Type, Business Model, End Use, Country|
|Breakup by Test Type||PCR Test, Antigen Test, Antibody Test, Others|
|Breakup by Product||RT-PCR Assay Kits, Immunoassay Test Strips, Others|
|Breakup by Sample Type||Nasopharyngeal Swab, Oropharyngeal (OP) Swab, Nasal Swab, Blood Test, Others|
|Breakup by Business Model||Point-of-Care (PoC) Testing, Non-Point-of-Care (PoC) Testing|
|Breakup by End Use||Hospitals, Diagnostic Centres and Clinics, Laboratories, Others|
|Breakup by Country||Brazil, Mexico, Argentina, Colombia, Others|
|Market Dynamics||SWOT, Porter's Five Forces, Key Indicators for Price and Demand|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||F. Hoffmann -La Roche Ltd, Mobius Life Science, Co-Diagnostics, Inc Bioinnovo, Others|
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*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.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6.1 Latin America
7 Industry Opportunities and Challenges
8 Latin America Covid-19 Overview
8.1 Key Industry Highlights
8.2 Number of Covid-19 Cases in Latin America
8.3 Latin America Covid-19 Cases by Region
9 Latin America COVID-19 Diagnostics Market Analysis
9.1 Key Industry Highlights
9.2 Latin America COVID-19 Diagnostics Market (2020-2026)
9.3 Latin America COVID-19 Diagnostics Market by Test Type (2020-2026)
9.3.1 PCR Test
9.3.2 Antigen Test
9.3.3 Antibody Test
9.4 Latin America COVID-19 Diagnostics Market by Product (2020-2026)
9.4.1 RT-PCR Assay Kits
9.4.2 Immunoassay Test Strips
9.5 Latin America COVID-19 Diagnostics Market by Sample Type (2020-2026)
9.5.1 Nasopharyngeal Swab
9.5.2 Oropharyngeal (OP) Swab
9.5.3 Nasal Swab
9.5.4 Blood Test
9.6 Latin America COVID-19 Diagnostics Market by Business Model (2020-2026)
9.6.1 Point-of-Care (PoC) Testing
9.6.2 Non-Point-of-Care (PoC) Testing
9.7 Latin America COVID-19 Diagnostics Market by End Use (2020-2026)
9.7.2 Diagnostic Centres and Clinics
9.8 Latin America COVID-19 Diagnostics Market by Country (2020-2026)
10 Market Dynamics
10.1 SWOT Analysis
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 F. Hoffmann-La Roche Ltd
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.2 Mobius Life Science
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.3 Co-Diagnostics, Inc
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12 Industry Events and Developments
List of Key Figures and Tables
1. Latin America COVID-19 Cases by Country
2. Latin America COVID-19 Diagnostics Market: Key Industry Highlights, 2020 and 2026
3. Latin America COVID-19 Diagnostics Market: Breakup by Test Type (USD Billion)
4. Latin America COVID-19 Diagnostics Market: Breakup by Product (USD Billion)
5. Latin America COVID-19 Diagnostics Market: Breakup by Sample Type (USD Billion)
6. Latin America COVID-19 Diagnostics Market: Breakup by Business Model (USD Billion)
7. Latin America COVID-19 Diagnostics Market: Breakup by End Use (USD Billion)
8. Latin America COVID-19 Diagnostics Market: Breakup by Country (USD Billion),
9. Latin America COVID-19 Diagnostics Market Structure
The Latin America COVID-19 diagnostics market is being aided by the growing cases of COVID-19 infections in Brazil, which has performed around 29 million tests for COVID-19 as of March 2021.
The major drivers of the industry, such as the rising research and development activities, increasing cases of COVID-19, rise in travel, and favourable government policies, are aiding the market growth.
The key market trend guiding the growth of the industry includes the growing technological advancements.
The major regions in the industry are Brazil, Mexico, Argentina, and Colombia, among others.
The major test types available in the industry are PCR test, antigen test, and antibody test, among others.
The major products available in the industry are RT-PCR assay kits, and immunoassay test strips, among others.
The sample types available in the market are nasopharyngeal swab, oropharyngeal (OP) swab, nasal swab, and blood test, among others.
The significant business models are point-of-care (PoC) testing and non-point-of-care (PoC) testing.
The significant end users are hospitals, diagnostic centres and clinics, and laboratories, among others.
The major players in the industry are F. Hoffmann -La Roche Ltd, Mobius Life Science, Co-Diagnostics, Inc, and Bioinnovo, among others.
The Latin America COVID-19 diagnostics market is being aided by the growing cases of COVID-19 infections in Brazil, which has performed around 29 million tests for COVID-19 as of March 2021.The market is being aided by the favourable government policies and rise in funding for R&D in this field.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its test types, the COVID-19 diagnostics industry can be segmented into PCR test, antigen test, antibody test, and others. On the basis of products, the industry is divided into RT-PCR assay kits, and immunoassay test strips, among others. By sample types, the industry is categorised into nasopharyngeal swab, oropharyngeal (OP) swab, nasal swab, and blood test, among others. On the basis of business models, the industry is bifurcated into point-of-care (PoC) testing and non-point-of-care (PoC) testing. Based on end users, the industry is segregated into hospitals, diagnostic centres and clinics, and laboratories, among others. The major regional markets for COVID-19 diagnostics in Latin America are Brazil, Mexico, Argentina, and Colombia, among others. The key players in the above market include F. Hoffmann -La Roche Ltd, Mobius Life Science, Co-Diagnostics, Inc, and Bioinnovo, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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