Latin America COVID-19 Diagnostics Market Size and Share - Outlook Report, Forecast Trends and Growth Analysis (2026-2035)

Increasing Demand for  PCR-based Diagnosis to Augment the COVID-19 Diagnostics Industry Growth in Latin America

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.

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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 to Provide Enhanced Growth Opportunities to the Latin America COVID-19 Diagnostics Industry

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.

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If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

COVID-19 Diagnostics: Market Segmentation

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Growing Number of COVID-19 Cases and Rise in Travel to Bolster the Growth of the Latin America COVID-19 Diagnostics Industry

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.

Key Industry Players in the Latin America COVID-19 Diagnostics Market

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:

• F. Hoffmann -La Roche Ltd
• Mobius Life Science
• Co-Diagnostics, Inc 
• Bioinnovo
• Others

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.