The Latin American COVID-19 diagnostics market will see a decline in CAGR of 19.5% during the forecast period. As Latin American countries are significantly expanding their testing capacity every month, the demand for RT-PCR testing has been emerging across these countries. For instance, on 6th May 2020, the Brazilian Health Ministry declared a national testing plan to curb and combat the COVID-19 pandemic. It had declared the target of buying 46 million tests. The program comprises dubbed Confirma COVID-19, which includes the lab test, referred to as RT-PCR. The objective is to buy a total of 24 million RT-PCR tests, suitable for people running symptoms until the eighth day since the infection.
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Additionally, the launch of new antigen tests may offer an opportunity for the increasing adoption of antigen tests in the country. Antigen tests can detect the presence of viral proteins in a biological sample, including saliva or tissue swabbed from the nasal cavity. These tests are normally cost-effective and provide results in minutes, as well as reveals an active infection. The antigen test that is available in Brazil includes QuickProfile COVID-19 Antigen Test, offered by Lumiquick Diagnostics, Inc. It is a method of the target antigen (or antibody) capture in samples with the use of a specific antibody (or antigen), and target molecule detection/quantitation using an enzyme reaction with its substrate. Emerging shift towards faster detection of COVID-19 and increasing focus of biotechnology companies and research institutes towards the development of more accurate and faster tests, is creating possibilities for the launch of new COVID-19 tests, including antigen test, in Latin American countries.
Key questions addressed by the report
- What is the market growth rate during the forecast period?
- Which segment/region dominates the market in base year?
- Which segment/region will project fastest growth in the market during the forecast period?
- How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID
o Most affected region/segment
o Recommendations
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Latin American COVID-19 Diagnostics Market – Segmentation
By Type
- Instruments
- Reagents & Kits
- Laboratory Testing Services
By Technology Type
- PCR Test
- Antigen Test
o Chromatographic Immunoassay
o Fluorescent Immunoassay
o Chemiluminescent Immunoassay
- Serology Test
o Enzyme-Linked Immunosorbent Assay (ELISA)
o Neutralization
o Chemiluminescent Immunoassay
- Rapid/ PoC Test
By Sample Type
- Oropharyngeal & Nasopharyngeal Swabs
- Blood
- Urine
- Saliva
- Others (Sperm)
By End-Users
- Laboratories
- Hospitals
- Diagnostic Centers & Clinics
- Research Institutes
A full report of Latin America COVID-19 diagnostics Market is available at: https://www.omrglobal.com/industry-reports/latin-america-covid-19-diagnostics-market
Latin American COVID-19 Diagnostics Market – Segmentation by Geography
- Mexico
- Brazil
- Argentina
- Colombia
- Rest of Latin America
Company Profiles
- Biolinker Synthetic Biology
- Biologix Group Ltd.
- CT Vacinas
- Diagnos Med srl
- Hi Technologies
- Orangelife Comercio e Industria Ltd.
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