At 6.0% CAGR, the South & Central America Infectious Disease Diagnostics Market is Projected to be Worth US$ 2,464.12 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the South & Central America infectious disease diagnostics market was valued at US$ 1,546.16 million in 2022 and is expected to reach US$ 2,464.12 million by 2030, registering a CAGR of 6.0% from 2022 to 2030. Rising incidence of infectious diseases and rising application of diagnostics in veterinary infectious disease are among the critical factors attributed to the South & Central America infectious disease diagnostics market expansion.

Fungi, viruses, parasites, bacteria, and toxic products are among the infectious agents that can cause infectious diseases. Public health is adversely affected by infectious diseases, causing morbidity, mortality, and economic burdens. Rising incidence of infectious diseases propels the requirement for accurate and timely diagnosis to form the basis for effective disease management, treatment, and prevention. Diagnosing and monitoring multiple infections and diseases, including hepatitis C, HIV, tuberculosis, human papillomavirus, and sexually transmitted infections (STIs), and infectious disease outbreaks can be performed using molecular diagnostics techniques, laboratory-based assays, and point-of-care tests. According to the World Health Organization (WHO), ~58 million people across the world suffer from chronic hepatitis C infection, and ~1.5 million new infections are diagnosed every year. HIV is a major public health issue across the world. According to The Joint United Nations Program on HIV/AIDS (UNAIDS), in 2020, ~ 37.7 million people had HIV. Out of these, ~36 million people were adults, and about 1.7 million were children aged 0-14 years. Also, ~1.5 million new HIV cases were reported globally in 2020.

According to WHO, tuberculosis (TB) is the 13th leading cause of death across the world, and it is the second leading infectious disease that leads to death after COVID-19. According to the WHO, 1.5 million deaths were caused by TB in 2020. In 2020, WHO projected that 10 million people had TB across the world, Furthermore, in 2020, 30 countries with high TB burdens accounted for 86% of new TB cases. Thus, the upsurging incidence of infectious diseases bolsters the need for infectious disease diagnostic technologies, such as microbial culture, hemagglutination inhibition tests, and enzyme-linked immunosorbent assays (ELISA).

On the contrary, inadequate reimbursement scenario hampers the growth of South & Central America infectious disease diagnostics market.

Based on product, the South & Central America infectious disease diagnostics market is segmented into kits & reagents, instruments, and software & services. The kits & reagents segment held 67.7% share of the South & Central America infectious disease diagnostics market in 2022, amassing US$ 1,046.51 million. It is projected to garner US$ 1,640.11 million by 2030 to expand at 5.8% CAGR during 2022-2030.

By technology, the South & Central America infectious disease diagnostics market is segmented into biosensor-based, immunodiagnostics, molecular-based diagnostic techniques, clinical biology, and others. The molecular-based diagnostic techniques segment held 47.9% share of the South & Central America infectious disease diagnostics market in 2022, amassing US$ 741.08 million. It is projected to garner US$ 1,234.49 million by 2030 to expand at 6.6% CAGR during 2022-2030. The immunodiagnostics segment is further subsegmented into enzyme-linked immunosorbent assay (ELISA), western blotting analysis, and immunofluorescence assay. The molecular-based diagnostic techniques segment is further subsegmented into polymerase chain reaction (PCR), in situ hybridization, isothermal nucleic acid amplification technology (INAAT), next-generation sequencing (NGS), DNA microarrays, and others.

By application type, the South & Central America infectious disease diagnostics market is bifurcated into laboratory testing and point-of-care testing. The laboratory testing segment held 80.8% share of the South & Central America infectious disease diagnostics market in 2022, amassing US 1,249.57 million. It is projected to garner US$ 1,945.92 million by 2030 to expand at 5.7% CAGR during 2022-2030.

By testing type, the South & Central America infectious disease diagnostics market is bifurcated into human testing and veterinary testing. The human testing segment held 84.5% share of the South & Central America infectious disease diagnostics market in 2022, amassing US$ 1,307.19 million. It is projected to garner US$ 2,023.90 million by 2030 to expand at 5.6% CAGR during 2022-2030. The human testing segment is further subsegmented into HIV, hepatitis, HAIs, HPV, tuberculosis, influenza, and others.

By end user, the South & Central America infectious disease diagnostics market is segmented into diagnostic laboratories, hospitals & clinics, research institutes, homecare settings, and others. The diagnostic laboratories segment held 43.7% share of the South & Central America infectious disease diagnostics market in 2022, amassing US 676.33 million. It is projected to garner US$ 1,101.61 million by 2030 to expand at 6.3% CAGR during 2022-2030.

Based on country, the South & Central America infectious disease diagnostics market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America held 42.3% share of South & Central America infectious disease diagnostics market in 2022, amassing US$ 654.65 million. It is projected to garner US$ 1,063.02 million by 2030 to expand at 6.2% CAGR during 2022-2030.

Key players operating in the South & Central America infectious disease diagnostics market are Abbott Laboratories, Bruker Corp, Cardinal Health Inc, F. Hoffmann-La Roche Ltd, Trinity Biotech Plc, Danaher Corp, Bio-Rad Laboratories Inc, ACON Laboratories Inc, and DiaSorin SpA, among others.




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