South and Central America PCR for Respiratory Infection Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Product Type, Infection Type, and End User

South and Central America PCR for Respiratory Infection Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type, Product Type, Infection Type, and End User

  • August 2021 •
  • 168 pages •
  • Report ID: 6134454 •
  • Format: PDF
The South and Central America PCR for respiratory infection diagnostics market is expected to reach US$ 502.55 million by 2028 from US$ 262.55 million in 2021; it is estimated to grow at a CAGR of 9.7% from 2021 to 2028.

The growth of the market is determined due to some of the key driving factors, such as increasing burden of chronic respiratory diseases (CRDs) and growing developments in PCR testing, are expected to propel the growth of the market. However, availability of alternative assays is the major factor hindering the market growth.

Chronic respiratory diseases (CRDs) are among the leading causes of morbidity globally due to the heavy consumption of tobacco.For instance, according to the WHO, in 2018, the fourth largest cause of mortality in the US was chronic lower respiratory illness, predominantly COPD.

Nearly 15.7 million Americans (6.4%) have been diagnosed with COPD. The burden of CRDs is expected to increase in the future due to poor air quality, increase in addiction to smoking, and rise in geriatric population that is more prone to COPD and lung cancer. Moreover, programs initiated in the countries to improve treatment and support the people living with respiratory diseases are likely to increase the demand for PCR for the diagnosis of respiratory diseases. This will lead to the market growth during the forecast period. The demand for PCR testing to diagnose infectious diseases has significantly risen in the past few years. The growing technological advancements have added an extra advantage of point-of-care testing through PCR, which has surged the demand for PCR diagnostics. In addition, the demand has exponentially raised due to the outbreak of COVID-19. Since the pandemic has initiated, reverse transcription-polymerase reaction (RT-PCR) test has been preferably used to diagnose and examine the genetic material of SARS-CoV-2 RNA. The RT-PCR method is widely accepted as the gold standard for the detection of SARS-CoV-2 RNA due to its sensitive testing. Therefore, considering the demand for PCR testing, various market players have introduced PCR products and entered strategic developments in the global market. Also, most companies are now offering real-time polymerase chain reaction (PCR) tests for COVID-19, which is contributing to the growth of the target market.

The COVID-19 pandemic has badly impacted countries such as Brazil and Argentina.The market has experienced exponential growth during the pandemic due to tremendous demand for COVID-19 testing through PCR.

The increasing incidences of COVID-19 have increased demand for PCR testing leveraging vital growth opportunities for the market.Brazil has also established public-private partnerships to enhance the production of PCR testing kits and products.

Thus, owing to the numbers of PCR tests in the countries, it is estimated that PCR testing for respiratory infection diagnostics has gained much attention and has attained significant market size in the region. The market is expected to flourish during the forecast period due to growing developments and government efforts to increase PCR testing in the countries.

Based on type, the South and Central America PCR for respiratory infection diagnostics market is segmented into real time PCR (qPCR), traditional PCR, reverse-transcriptase (RT-PCR), digital PCR, multiplex PCR, and others. The real-time PCR (qPCR) segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.

Based on product type, the South and Central America PCR for respiratory infection diagnostics market is segmented into reagents and kits, instruments, and others. The reagents and kits segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.

Based on infection type, the South and Central America PCR for respiratory infection diagnostics market is segmented into bacterial infection, viral infection, and fungal & other pathogens. In 2021, viral infections segment held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.

Based on end user, the South and Central America PCR for respiratory infection diagnostics market is segmented into hospitals, physician clinics, clinical laboratories, academic and research institutions, biotech and pharma companies, and others. In 2020, clinical laboratories segment held the largest share of the market and is estimated to register the highest CAGR in the market during the forecast period.

A few of the primary and secondary sources associated with this report on the South and Central America PCR for respiratory infection diagnostics market are National Health Service (NHS), the World Health Organization (WHO), and Centers for Disease Control and Prevention (CDC).
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