South & Central America Immunodiagnostics Market

The South & Central America immunodiagnostics market is expected to grow from US$ 955.72 million in 2023 to US$ 1,648.52 million by 2030. It is estimated to grow at a CAGR of 8.1% from 2023 to 2030.

Increasing Prevalence of Infectious Diseases Drive South & Central America Industrial Robotics Market

The diagnosis and management of several ever-growing infectious diseases caused by infectious agents such as viruses, fungi, bacteria, parasites, or their toxic products are surging number of prescriptions for immunodiagnostics tests, e.g., complement fixation, precipitation tests, agglutination tests, line blot assays, Western blot assays, enzyme immunoassays (EIA), and immunofluorescence tests.

Human immunodeficiency virus (HIV) continues to be a major public health issue worldwide.

Further, tuberculosis (TB), COVID-19, and other hospital-acquired infections (HAIs) require immunodiagnostics tests.

•   TB has been the 13th leading cause of death and the second-leading infectious killer after COVID-19. In 2020, 1.5 million people died from TB and affected an estimated 10 million people, comprising 5.6 million males, 3.3 million females, and 1.1 million children globally.

•   According to Worldometer, millions of deaths were reported worldwide due to the COVID-19 pandemic. It strained healthcare systems and increased the need for immunodiagnostics tests.

Diagnostics play a vital role in determining suitable medical treatments. Immunodiagnostics help diagnose diseases that severely impact the immune system. Hence, the rising prevalence of infectious diseases lead to the surging demand for immunodiagnostics products.

South & Central America Immunodiagnostics Market Overview

According to World Population Ageing 2019 report, the number of people aged above 65 years was 19.526 million in Brazil in 2019 and is expected to reach 52.026 million by 2050. This increase in the geriatric population is expected to raise the country's prevalence rate of liver, colon, and pancreatic cancer since older people are more prone to these cancers, as well as other chronic diseases, which would subsequently boost the demand for diagnostics. Large outbreaks of bacterial and viral pandemics, increasing demand for point-of-care diagnostics, and rapidly evolving technology are further propelling the growth of molecular diagnostics. For instance, in November 2020, Chembio Diagnostics, Inc., a leading point-of-care diagnostic company focused on infectious diseases, revealed that its subsidiary Chembio Diagnostics Brazil Ltda received Agência Nacional de Vigilância Sanitária (ANVISA) approval for the DPP SARS-CoV-2 Antigen test system in Brazil. In Brazil, NCDs also constitute a health problem of a large magnitude and account for 72% of causes of death, especially cardiovascular diseases (31.3%), cancer (16.3%), diabetes (5.2%), and chronic respiratory disease (5.8%). Thus, the rising cases of cancer, diabetes, and other chronic diseases is surging the demand for immunodiagnostics.

South & Central America Immunodiagnostics Market Revenue and Forecast to 2030 (US$ Million)

South & Central America Immunodiagnostics Strategic Insights

Strategic insights for the South & Central America Immunodiagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Immunodiagnostics Report Scope

South & Central America Immunodiagnostics Regional Insights

The geographic scope of the South & Central America Immunodiagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

South & Central America Immunodiagnostics Market Segmentation 

The South & Central America immunodiagnostics market is segmented into product, clinical indication, end user, and country.

Based on product, the South & Central America immunodiagnostics market is segmented into enzyme-linked immunosorbent assays (ELISA), chemiluminescence immunoassays (CLIA), radioimmunoassays (RIA), and others. In 2023, the enzyme-linked immunosorbent assays (ELISA) segment registered the largest share in the South & Central America immunodiagnostics market. The chemiluminescence immunoassays (CLIA) segment is further segmented into vitamin D assay market, HIV detection market, HIV ag/ab combo assay market, and other tests.

Based on clinical indication, the South & Central America immunodiagnostics market is segmented into infectious diseases, hepatitis+HIV, endocrinology, gastrointestinal, metabolics, and others. In 2023, the infectious diseases segment registered the largest share in the South & Central America immunodiagnostics market. The infectious diseases segment is further segmented into COVID-19, tuberculosis, lyme, infection management, zika, treponema, torch, measles and mumps, VZV, and EBV. The endocrinology segment is further segmented into hypertension, growth, diabetes, thyroid, and reproductive endocrinology.

Based on end user, the South & Central America immunodiagnostics market is segmented into hospitals, clinics, diagnostic laboratories, academic & research institutes, and others. In 2023, the hospitals segment registered the largest share in the South & Central America immunodiagnostics market.

Based on country, the South & Central America immunodiagnostics market is segmented into Brazil, Argentina, and the Rest of South & Central America. In 2023, the Rest of South & Central America segment registered the largest share in the South & Central America immunodiagnostics market.

Abbott Laboratories; bioMerieux SA; Danaher Corp; DiaSorin SpA; F. Hoffmann-La Roche Ltd; PerkinElmer Inc; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthcare GmbH; Svar Life Science AB; and Thermo Fisher Scientific Inc are some of the leading companies operating in the South & Central America immunodiagnostics market.