Latin America Infectious Disease Diagnostics Market

Latin America Infectious Disease Diagnostics Market Size (2023 to 2028)

The Latin American infectious disease diagnostics market is anticipated to grow at 8.34% CAGR from 2023 to 2028 and the market size is estimated to be USD 2.36 billion in 2023 and USD 3.52 billion by 2028.

Latin American countries have been observed to have a weaker health system capacity and disease surveillance systems compared to some other developing and developed countries. Latin America is one of the regions that has seen a significant loss in health due to diseases such as chikungunya and Zika. Factors such as the increasing infectious disease burden among the population of Latin America, YOY growth in the aging population, and rising funding for R&D activities are propelling the market in the Latin American region. Brazil is one of the countries flooded with dengue cases in 2020; an estimated 987000 cases were registered in Brazil. An estimated 404003 cases of hepatitis were recorded in Brazil between 2009 to 2018.

The demand for diagnostic instruments to treat infectious diseases is increasing due to the growing incidence of malaria, flu, and HIV. For example, Brazil had approximately 145200 malaria cases in 2020. Moreover, the presence of emerging economies, the growing purchasing power of people, increasing investments from governments, and the availability of cost-effective technology for accurate disease detection, diagnosis, and control are further promoting the growth of the infectious disease diagnostics market in Latin America. In addition, the provision of free examinations and tests for raising awareness among the population and minimizing the risk of infection from various government-funded regional programs to increase the accuracy of disease diagnosis is further anticipated to drive market growth.

However, high costs associated with the diagnostic kits, and potential challenges faced by the device used for diagnosis purposes, such as inaccurate test results, device failure, and user inability to interpret test results due to lack of knowledge, are hampering the market growth in Latin America. In addition, poor distribution networks by many manufacturers and stringent regulatory policies are further anticipated to diminish the market’s growth rate.

This research report on the Latin American infectious disease diagnostics market has been segmented and sub-segmented into the following categories:

By Product: 

• Instruments
• Reagents
• Services
• Software

By Application: 

• Hepatitis B
• Hepatitis C
• Human Immunodeficiency Virus (HIV)
• Tuberculosis (TB)
• Chlamydia trachomatis
• Neisseria gonorrhoeae (CT/NG)
• Human papillomavirus (HPV)
• Methicillin-resistant Staphylococcus aureus (MRSA)
• Others (Influenza, Ebola, Typhoid, Malaria, and Dengue)

By Technology: 

• PCR
• INAAT
• DNA Sequencing
• Hybridization

By End User: 

• Hospital
• Laboratories

By Country: 

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

The Latin American market is anticipated to grow at a steady CAGR during the forecast period owing primarily to the rising burden of infectious diseases. According to a report from Globocan, the number of new infectious disease cases recorded for the population of Latin America in 2020 is 1,470,274, and the total prevalent cases residing in the past five years are 3,837,718 in both sexes of all ages. This proves that the total frequency of rising cases of various infectious diseases is very high and is continuously on the rise across Latin America, owing to the increasing geriatric population. This has resulted in increasing awareness of the early diagnosis of diseases, leading to the establishment of more hospitals, clinics, laboratories, and healthcare centers in the region. These establishments are being helped by various government organizations in both developed and developing countries, which are expected to generate a significant income and drive the market. Additionally, the increasing prevalence of cancer in Latin America is foreseen to drive the demand for diagnostic test kits across medical settings due to an increase in the pool of patients.

Brazil dominated the Latin American market in 2-021. Brazil has seen an increase in diagnostic facilities in recent times, and the reason behind this is believed to fight the growing prevalence of infectious diseases in the country. The Brazilian government's growing emphasis on providing healthcare to the population and increasing adoption of advanced medical equipment in the central laboratories enhance the performance of numerous simultaneously and more efficiently.

KEY MARKET PLAYERS:

Companies playing a prominent role in the Latin America infectious disease diagnostics market profiled in the report are Abbott Laboratories, bioMérieux SA, Hologic, Inc., Danaher Corporation, Becton, Dickinson and Company, Cepheid, Inc., Thermo Fisher Scientific Inc., Roche Diagnostics, Alere Inc., DiaSorin S.p.A., Quidel Corporation, and Bio-Rad Laboratories, Inc.