South and Central America In-Vitro Diagnostics Market Growth and Recent Trends by 2027

The In-vitro diagnostics market in South and Central America is expected to grow from US$ 4,387.7 million in 2019 to US$ 5,820.0 million by 2027; it is estimated to grow at a CAGR of 3.6% from 2020 to 2027.

The region is witnessing exponential increase in prevalence of infectious diseases. These diseases are prominently caused due to pathogenic microorganisms, such as viruses, bacteria, and parasites. Certain factors, such as poor sanitary conditions, lack of public hygiene, massive air pollution, and lack of safe drinking water, are playing a significant role in the increasing prevalence of infectious diseases. For instance, according to data published by the World Health Organization (WHO) in 2019, approximately 71.0 million people suffered from hepatitis C virus infection across the globe. Moreover, extreme globalization, intense mobility of the population, and persistent urbanization are expected to spread viral infections with greater ease. Since there is a lack of better public health surveillance systems and access to care, a substantial population in developing countries as well as remote regions, is highly prone to viral infections. This, combined with considerable growth in the viral epidemics, is projected to offer a high demand the in-vitro diagnostics (IVD) during the forecast period.

In the South and Central American region, countries like Brazil, Chile, and Peru have experienced significant incidences of COVID-19 patients. According to the Pan American Health Organization (PAHO), as of 12 June 2020, Brazil, Peru, and Chile had 5.1%, 2.8%, and 1.8% crude case fatality rates (CFR). Maximum deaths were observed in the age group 60 to 70+ years old. In addition. 60% of these deaths in this age group occurred in men. Therefore, considering the rise in the incidences have demanded IVD test kits and products. The biotechnology industry is growing in the countries that are expected to serve vital growth opportunities for the IVD market in the coming future.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the In-vitro diagnostics market. The South and Central America In-vitro diagnostics market is expected to grow at a good CAGR during the forecast period.

South and Central America In-Vitro Diagnostics Market Segmentation          

By Product and Services

• Instruments
• Reagents & Kits
• Software & Services

By Technology

• Immunoassay/ Immunochemistry
• Clinical Chemistry
• Molecular Diagnostics
• Microbiology
• Blood Glucose Self-Monitoring
• Coagulation & Hemostasis
• Hematology
• Urinalysis
• Others

By Application

• Infectious Diseases
• Diabetes
• Oncology
• Cardiology
• Autoimmune Diseases
• Nephrology
• Others

By End User

• Hospitals
• Laboratories
• Homecare
• Others

By Country

• South and Central America

  • Brazil
  • Argentina
  • Rest of South and Central America

Companies Mentioned

• F. HOFFMANN-LA ROCHE LTD.
• DANAHER
• ABBOTT
• SIEMENS AG
• SYSMEX CORPORATION
• THERMO FISHER SCIENTIFIC, INC.
• BD
• BIOMERIEUX SA
• BIO-RAD LABORATORIES, INC.
• QIAGEN

South and Central America In-Vitro Diagnostics Report Scope