Latin American Covid-19 Diagnostics Market Aided by Rising Covid-19 Cases and Easing Travel Restrictions

El nuevo estudio de Informes de Expertos titulado “El Mercado Latinoamericano de Diagnóstico de Covid-19, Informe y Pronóstico 2021-2026”, ofrece un análisis profundo del mercado, evaluándolo por tipo de prueba, producto, tipo de muestra, modelo de negocio, y las regiones clave. El informe analiza los factores clave de éxito y las limitaciones, rastrea las últimas tendencias en la industria y estudia su impacto en el mercado general. También evalúa la dinámica del mercado, analizando los indicadores clave de demanda y precios, junto con el análisis del mercado basado en los modelos SWOT y Porter de las cinco Fuerzas.

The new report by Informes de Expertos titled, ‘Latin American Covid-19 Diagnostics Market 2021-2026’, gives an in-depth analysis of the market, assessing it based on the test type, product, sample type, business mode, end-use, and key regions. The report analyses key success factors and constraints, tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2016-2026)

• Forecast CAGR (2021-2026): X%

The market for Covid-19 diagnostics in Latin America is fast emerging due to the rising number of coronavirus cases in this region. Brazil, Argentina, and Colombia accounted for the highest number of cases of the Latin American region, creating a health emergency and thereby increasing the need for Covid-19 testing.

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Moreover, since the disease is a new one, there was less awareness of how its large-scale transmission can be controlled. A lack of a systematic plan to prevent its spread in the initial months led to a large number of cases in this region, thereby increasing the demand for COVID-19 testing kits.

Furthermore, research and development activities to deliver new technologies and testing methods are being carried out by the industry’s key players, which are also propelling the market forward.

Industry Definition and Major Segments

Covid-19 diagnostics deals with diagnosing or detecting the presence of SARS-CoV-2 in the body. One approach is directed at detecting the presence of the virus, while another approach seeks to detect the presence of antibodies which must have been produced in response to the infection. Such an analysis is carried out in automated medical laboratories by qualified medical practitioners.

By test type, the market is divided into:

• PCR Test
• Antigen Test
• Antibody Test
• Others

Based on product, the market is divided into:

• RT-PCR Assay Kits
• Immunoassay Test Strips
• Others

According to the sample type, the report fragments the industry into:

• Nasopharyngeal Swab
• Oropharyngeal (OP) Swab
• Nasal Swab
• Blood Test
• Others

Based on business model, the market is bifurcated into:

• Point-of-Care (PoC) Testing
• Non-Point-of-Care (PoC) Testing

Based on end-use, the industry is classified into:

• Hospitals
• Diagnostic Centres and Clinics
• Laboratories
• Others

Key regions covered include:

• Brazil
• Argentina
• Mexico
• Colombia
• Others

Market Trends

With the arrival of the Covid-19 pandemic and surging deaths, one witnessed the need for rapid diagnostic testing to prevent the spread of the virus, control fatalities, and reduce the burden on health infrastructure. This led to the growth of the rapid test method as it came to be widely employed in many countries of Latin America to deliver quick results. Region-wise, Brazil is expected to emerge as the key growth center for the COVID-19 diagnostics industry. Globally, it remains the third most-affected country in terms of the number of confirmed COVID-19 cases after India and the US. Brazil also has the highest death toll in Latin America, followed by Mexico, Peru and Colombia.

Moreover, there is a prevailing uncertainty about the end of the pandemic. Since the cases are still rising and international travel is again exposing these countries to new virus strains, one expects that the industry will continue to grow for a while.

Key Market Players

The major players in the market are:

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

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