Latin America In Vitro Diagnostics (IVD) Market by Product (Consumables, Instruments, Software), Technology (Immunoassay, Microbiology, Molecular Diagnostics), Application (Oncology, Diabetes), End User (Hospital, Reference Lab) - Forecast to 2027

  • Report ID:MRHC - 104407
  • Pages: 201
  • Jul 2020
  • Formats*: PDF
  • Category: Healthcare
  • Delivery: 2 to 4 Hours

1. Introduction  
     1.1. Market Definition 
     1.2. Market Ecosystem 
     1.3. Currency 
     1.4. Key Stakeholders 

2. Research Methodology 
     2.1. Research Process
     2.2. Data Collection & Validation
             2.2.1. Secondary Research
             2.2.2. Primary Research
     2.3. Market Assessment
             2.3.1. Market Size Estimation
                        2.3.1.1. Bottom-Up Approach
                        2.3.1.2. Top-Down Approach
                        2.3.1.3. Growth Forecast
             2.3.2. Market Share Analysis
     2.4. Assumptions for the Study
     2.5. Limitations for the Study   

3. Executive Summary   

4. Market Insights 
     4.1. Introduction 
     4.2. Drivers
             4.2.1. Growing Prevalence of Chronic and Infectious Diseases Associated with Rising Geriatric Population
             4.2.2. Rising Adoption for Automation in Reference Laboratories and Hospitals
             4.2.3. Growing Adoption of Personalized Medicine
             4.2.4. Shifting Preference Towards Point-of-Care (POC) Testing 
     4.3. Restraints
               4.3.1. Unfavorable Reimbursement Scenario 
     4.4. Opportunity
                 4.4.1. Development of Condition or Infection Specific Markers and Diagnostic Kits
     4.5. Challenges
               4.5.1. Dearth of Qualified Laboratory Technologists
                4.5.2. Product-Design and Cost Related Challenges in the Uptake of New Technologies
     4.6. COVID -19 Impact Assessment 

5. Latin America In-Vitro Diagnostics (IVD) Market, by Product  
     5.1. Introduction
     5.2. Reagents, Assays, and Kits 
     5.3. Instruments/Analyzers
     5.4. Software and Services

6. Latin America In-Vitro Diagnostics (IVD) Market, By Technology
     6.1. Introduction 
     6.2. Immunoassay/Immunochemistry
             6.2.1. Enzyme-Linked Immunosorbent Assay (ELISA)
             6.2.2. Radioimmunoassay
             6.2.3. Rapid Tests
             6.2.4. Western Blotting
             6.2.5. Other Immunochemistry Tests
     6.3. Clinical Chemistry
             6.3.1. Metabolic Panel
             6.3.2. Electrolyte Panel
             6.3.3. Liver Panel
             6.3.4. Lipid Profile
             6.3.5. Renal Profile
             6.3.6. Thyroid Function Panel
     6.4. Molecular Diagnostics
             6.4.1. Polymerase Chain Reaction (PCR)
             6.4.2. Isothermal Nucleic Acid Amplification Technology (INAAT)
             6.4.3. Microarrays
             6.4.4. DNA Sequencing & Next-Generation Sequencing
             6.4.5. Other Molecular Diagnostic Tests
     6.5. Microbiology 
     6.6. Hematology
     6.7. Coagulation & Hemostasis
     6.8. Urinalysis
     6.9. Other IVD Technologies

7. Latin America In-Vitro Diagnostics (IVD) Market, by Application 
     7.1. Introduction
     7.2. Infectious Diseases
     7.3. Oncology
     7.4. Endocrinology
     7.5. Diabetes
     7.6. Cardiology
     7.7. Other Applications 

8. Latin America In-Vitro Diagnostics (IVD) Market, by End User  
     8.1. Introduction
     8.2. Hospital Laboratories
     8.3. Diagnostic Reference Laboratories
     8.4. Point-of-Care (POC) Testing
     8.5. Academic & Research Institutes 

9. Latin America In-Vitro Diagnostics (IVD) Market, by Country  
     9.1. Introduction
     9.2. Brazil 
     9.3. Mexico 
     9.4. Argentina 
     9.5. Chile
     9.6. Colombia
     9.7. Rest of LATAM     

10. Competitive Landscape
        10.1. Introduction
        10.2. Key Growth Strategies
        10.3. Competitive Benchmarking
        10.4. Market Share Analysis (2019)  

11. Company Profiles 
        11.1. Roche Diagnostics
                  11.1.1. Business Overview 
                  11.1.2. Financial Overview
                  11.1.3. Product Portfolio
                  11.1.4. Strategic Developments 
        11.2. Siemens Healthcare GmbH 
                  11.2.1. Business Overview 
                  11.2.2. Financial Overview
                  11.2.3. Product Portfolio 
                  11.2.4. Strategic Developments
        11.3. Qiagen N.V. 
                  11.3.1. Business Overview 
                  11.3.2. Financial Overview
                  11.3.3. Product Portfolio 
                    11.3.4. Strategic Developments
        11.4. Biomérieux SA 
                  11.4.1. Business Overview 
                  11.4.2. Financial Overview
                  11.4.3. Product Portfolio 
                  11.4.4. Strategic Developments
        11.5. Abbott Laboratories
                  11.5.1. Business Overview 
                  11.5.2. Financial Overview
                  11.5.3. Product Portfolio 
                  11.5.4. Strategic Developments
        11.6. Becton, Dickinson And Company 
                  11.6.1. Business Overview
                  11.6.2. Financial Overview 
                  11.6.3. Product Portfolio
                  11.6.4. Strategic Developments
        11.7. Bio-Rad Laboratories, Inc. 
                  11.7.1. Business Overview 
                  11.7.2. Financial Overview
                  11.7.3. Product Portfolio
                  11.7.4. Strategic Developments
        11.8. Wama Diagnóstica
                  11.8.1. Business Overview 
                  11.8.2. Financial Overview
                  11.8.3. Product Portfolio
                  11.8.4. Strategic Developments
        11.9. Labin Perú S.A.
                  11.9.1. Business Overview 
                  11.9.2. Financial Overview
                  11.9.3. Product Portfolio
                  11.9.4. Strategic Developments
        11.10. Andina Medica
                  11.10.1. Business Overview 
                  11.10.2. Financial Overview
                  11.10.3. Product Portfolio
                  11.10.4. Strategic Developments

12. Appendix 
        12.1. Questionnaire 
        12.2. Available Customization 

COVID-19

This report provides pre & post COVID-19 market estimates

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The Latin American IVD market is expected to grow at a CAGR of 7.9% from 2020 to 2027 to reach at $6.3 billion by 2027. The epidemiological burden of various chronic diseases such as cancer and cardiovascular conditions along with infectious diseases like severe acute respiratory syndrome (SARS), Middle East respiratory syndrome (MERS), Ebola, chikungunya, avian flu, swine flu, Zika, and COVID-19 is very high; majorly occurring and growing in the Latin America, thereby creating a huge demand for in vitro diagnostic products in the region. Further, factors such as rising adoption of automation in reference laboratories and hospitals, growing adoption of personalized medicine, and shifting preference towards point-of-care (POC) testing are expected to propel the in vitro diagnostics market (IVD) in Latin America.

However, the unfavorable reimbursement scenario is expected to hamper the growth of the in vitro diagnostics market (IVD) in the region.

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COVID-19 Impact on the Latin America In Vitro Diagnostics Market

The rising burden of infectious diseases and hospital acquired infections across the globe has increased the demand for in vitro diagnostics products. Recent outbreak of the coronavirus disease (COVID-19) which has emerged since November 2019 in Wuhan, China, has created destruction in several countries across the world. As of 14th July 2020, Brazil had 1,864,681 confirmed cases, the second highest in the world after the U.S., whereas, Peru showed 326,326 confirmed cases. Thus, increase in the number of various infectious disease outbreaks in the region is fueling the growth of in vitro diagnostics market.

In response to the growing cases of COVID-19, Vale S.A., a Brazilian multinational corporation, purchased 5 million new coronavirus (Covid-19) rapid test kits in March 2020 to help the Brazilian government combat the spread of the illness in the country. In addition, Seegene Inc. has supplied 5 million tests (Allplex 2019-nCOV assay) to Brazil in mid-May 2020 and was also in progress for the supply of additional 5 million tests to the country in the following weeks. This supply of the mentioned coronavirus tests to Latin America region is expected to increase drastically in the coming months with the Seegene’s ongoing discussion with Pan American Health Organization (PAHO) for the supply agreement of tests to the private laboratories in Brazil and other Latin American countries. Thus, there is an increased demand for the in vitro diagnostics products in the region due to the pandemic situation.

Shift in focus from centralized laboratories to decentralized point-of care is propelling the growth of the in vitro diagnostics market

Molecular diagnostics has been done in centralized laboratories from many years; however, its few drawbacks like delay in results, high cost of tests, less accuracy, and late disease diagnosis has led to continuous shift in decentralizing clinical laboratory testing for disease diagnosis. Point-of-care (POC) testing is majorly performed for the diagnosis purpose at or near the site where a patient initially encounters the health care system. POC tests have the potential to improve the patient management of infectious diseases. POC tests for various diseases such as chlamydia, gonorrhea, and influenza, among others, helps in providing early diagnosis and treatment. POC testing in the decentralized set up help the patient and the physicians to monitor the in vitro diagnostics and improve the clinical workflow. In addition, the improvement in the information technology contributed significantly in the process of decentralization of clinical laboratory testing.

Thus, the shift towards point of care testing is expected to accelerate the Latin American in vitro diagnostics market.

Growing prevalence of chronic and infectious diseases in the region

Currently, chronic infectious diseases caused by bacterial and viral pathogens are on the rise in Latin American countries due to various factors including changes in climatic conditions, increased human population growth and density in both urban and rural areas, increased human migration and mobility, and poor public health resources. The pathogenic agents that cause emerging and re-emerging diseases in Latin America include bacterial pathogens (Salmonella enteritidis; Salmonella typhimurium, Salmonella typhi, Brucellaabortus and Klebsiella pneumonia) and viral pathogens (HPV; HIV; EBV; Zika; and Chikungunya). According to UNAIDS, in 2017, people living with HIV in Latin America were 1.8 million. According to Brazil’s Health Ministry, a total of 4,680 flu cases were found in Brazil in the first seven months of 2018. Further, the recent outbreak of coronavirus (COVID -19) is affecting large population and is spreading continuously in the region.

This increase in the number of various infectious disease outbreaks in the region is fueling the growth of the in vitro diagnostics market.

Key findings of the Latin America IVD Market Study:

Immunodiagnostics segment to dominate the overall in-vitro diagnostics market through 2027

Increasing use of immunoassays in infectious disease testing, development of novel tests in this field, rising trend of automation, increasing awareness about health and fitness, and reduced complications associated with the instruments are some of the key factors driving the growth of this segment.

Reagents, assays, and kits segment to hold the largest share in 2020

The large share of this segment is mainly attributed to the factors such as increasing prevalence of infectious diseases, rising awareness among the population to identify the diseases, and increasing use of kits and reagents to identify the organism causing various diseases in lesser time and cost. Further, the outbreak of coronavirus (COVID-19) disease is also expected to accelerate the growth of this segment, owing to the national emergency declared and requirement of various kits and assays for the early disease diagnostics.

Hospital laboratories to hold the largest share of the in the vitro diagnostics market in 2020

The factors such as increasing number of outpatients for chronic diseases and infectious diseases like the recent outbreak of coronavirus disease; increasing hospital expenditures; growing technological advancement for diagnostic platforms in hospitals; and increasing number of skilled professionals to cater larger customer base supported the largest share of hospital laboratories in the region.

Brazil to dominate the Latin American IVD market through 2027

Comparatively well-established healthcare infrastructure, growing healthcare expenditure, rising demand for genetic testing, increasing awareness about the use of IVD products, and growing awareness for cancer and cardiovascular screening are some of the key factors driving the growth of the IVD market in the country.  

Key Players

The report includes competitive landscape based on extensive assessment of the product portfolio, geographic presence, and key strategic developments adopted by the leading market players in the industry over the past 4 years (2017-2020). The key players profiled in the in vitro diagnostics market in Latin America are Roche Diagnostics (Switzerland), Siemens Healthcare GmbH (Germany), Qiagen N.V (Germany), Biomérieux S.A. (France), Abbott Laboratories (U.S.), Becton, Dickinson And Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Wama Diagnóstica (Brazil),  Labin Perú S.A. (Peru), WM Argentina SA (Argentina), Belomed SRL (Peru), Wiener Laboratorios SAIC (Argentina), Diagnóstica Peruana SAC (Peru), Diamed Argentina (Argentina), Andina Medica (Peru), and Grifols Chile S.A (Chile).

Scope of the Report:

Latin America IVD Market, by Product

  • Reagents, Assays, and Kits
  • Instruments/Analyzers
  • Software & Services

Latin America IVD Market, by Technology

  • Immunoassay/Immunochemistry
  • Clinical Chemistry
  • Molecular Diagnostics
  • Microbiology
  • Hematology
  • Coagulation & Hemostasis
  • Urinalysis
  • Other technologies
    (Other Technologies comprises of microscopy, hybridization, loop-mediated isothermal amplification, immunohistochemistry (IHC).)

Latin America IVD Market, by Application

  • Infectious Diseases
  • Oncology
  • Endocrinology
  • Diabetes
  • Cardiology
  • Other Applications
    (Other applications comprise of nephrology, autoimmune diseases, drug testing/pharmacogenomics, HIV/AIDS.)

Latin America IVD Market, by End User

  • Hospital Laboratories
  • Diagnostic Reference Laboratories
  • Point-of-Care (POC) Testing
  • Academics/Research Institutes

Latin America IVD Market, by Country

  • Brazil
  • Mexico
  • Argentina
  • Chile
  • Colombia
  • Rest of LATAM

Areas of Focused Research Services in Latin America:

  • Market Access
  • Regulatory Scenario
  • Top Technology Trends
  • End User Perception Analysis
  • Partner Identification
  • Due Diligence
  • Distribution Channel Assessment
  • Supply Chain Analysis
  • Procurement Practices
  • Key Customer Assessment
  • Others

Key questions answered in the report-

The Latin America IVD market is projected to reach $6.3 billion by 2027, at a CAGR of 7.9% during the forecast period.
Based on the products, the reagents, assays, and kits segment is estimated to command the largest share of the overall in vitro diagnostics market in 2020.
Based on the application, the infectious diseases segment is projected to create more traction with the fastest CAGR during the forecast period, owing to the rising prevalence of infectious disease, higher susceptibility of the geriatric population towards these diseases, and rise in the advantages offered by point of care instruments & kits.
Based on technology, the immunoassay/immunochemistry technology is highly preferred owing to the increasing use of immunoassays in infectious disease testing with their higher sensitivity and cost effectiveness, development of novel tests, rising trend of automation, increasing awareness about health and fitness, and increased adoption of immunoassay-based kits due to the coronavirus pandemic.
The growth of in vitro diagnostics market in the region is mainly attributed to the growing prevalence of chronic and infectious diseases associated with rising geriatric population, rising adoption for automation in reference laboratories and hospitals, growing adoption of personalized medicine, and shifting preference towards point-of-care (POC) testing. Further, the development of condition or infection specific markers and diagnostic kits offer significant growth opportunities for the players operating in this region.
The key players operating in the Latin American in vitro diagnostics market are Roche Diagnostics (Switzerland), Siemens Healthcare GmbH (Germany), Qiagen N.V (Germany), Biomérieux S.A. (France), Abbott Laboratories (U.S.), Becton, Dickinson And Company (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Wama Diagnóstica (Brazil), Labin Perú S.A. (Peru), WM Argentina SA (Argentina), Belomed SRL (Peru), Wiener Laboratorios SAIC (Argentina), Diagnóstica Peruana SAC (Peru), Diamed Argentina (Argentina), Andina Medica (Peru), and Grifols Chile S.A (Chile) among others.
The countries such as Brazil, Argentina, Peru, and Chile are projected to offer significant growth opportunities for the vendors in this market, due to well-established healthcare infrastructure, growing healthcare expenditure, and rising demand for genetic testing in these countries.
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Tags: Healthcare Immunoassays
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