Latin America Chemiluminescence Immunoassay Market Strategies, Top Players, Growth Opportunities, Analysis and Forecast by 2031

The Latin America chemiluminescence immunoassay market size is projected to reach US$ 955.12 million by 2031 from US$ 497.67 million in 2023. The market is expected to register a CAGR of 8.6% during 2023–2031. Technological advancements are expected to bring in new trends in the coming years.

Latin America Chemiluminescence Immunoassay Market Analysis

The factors supporting the growth of the market include rising incidence of infectious diseases and growing use of point-of-care diagnostics. Additionally, governments and health organizations are investing generously to improve healthcare services and laboratory facilities, thereby boosting the demand for chemiluminescence immunoassay. Moreover, increasing focus on research and development and increased funding are expected to create ample opportunities for market growth.

Latin America Chemiluminescence Immunoassay Market Overview

The Latin America chemiluminescence immunoassay market is driven by the rising incidence of infectious diseases and the growing use of point-of-care diagnostics.

The accurate diagnosis of HIV infection requires tests that are performed in a specific sequence or algorithm. CLIA, immunofluorescent assays, and line immunoassays are available for selective HIV antibody detection. Commercial assays based on P24 antigen detection are also available for HIV diagnosis. The US Food and Drug Administration (FDA) has licensed Gen-Probe’s APTIMA HIV-1 qualitative RNA assay to diagnose acute HIV-1 infection using plasma samples. The VITROS HIV Combo is a fourth-generation assay that detects HIV-1 and HIV-2 antibodies as well as the p24 antigen in time less than third-generation assays. The HIV Ag/Ab combo assay is a chemiluminescent microparticle immunoassay (CMIA) used for the simultaneous qualitative detection of the HIV p24 antigen as well as anti-HIV type 1 (HIV-1 group M and group O) and anti-HIV type 2 (HIV-2) antibodies from human serum and plasma (treated with EDTA and heparin) samples. Further, the ARCHITECT HIV Ag/Ab Combo Reagent Kit (2P36) is available for all ARCHITECT i Systems in the market. This combo uses anti-HIV-1 p24 antibodies as reagents to detect the corresponding antigen, thereby enabling the improved and early detection of HIV infection. It can also diagnose HIV-1/HIV-2 conditions in pregnant women and children up to 2 years of age. Therefore, the increasing prevalence of infectious diseases has propelled the demand for effective diagnostics, which, in turn, drives the growth of Latin America chemiluminescence immunoassay market.

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Latin America Chemiluminescence Immunoassay Market: Strategic Insights

Latin America Chemiluminescence Immunoassay Market

• 
  CAGR (2023 - 2031)

  8.6%
• Market Size 2023
  US$ 497.67 Million
• Market Size 2031
  US$ 955.12 Million

Market Dynamics

GROWTH DRIVERS

• Rising Incidence of Infectious Diseases

FUTURE TRENDS

• Technological Advancement

OPPORTUNITIES

• Increasing Focus on R&D

Key Players

• Sysmex Corp
• Shenzhen Mindray Bio Medical Electronics Co Ltd
• Bio Rad Laboratories Inc
• Merck KGaA
• Abbott Laboratories
• Thermo Fisher Scientific Inc
• F Hoffmann La Roche Ltd
• DiaSorin SpA
• Siemens Healthineers AG
• Getein Biotech Inc

Regional Overview

• Latin America

Market Segmentation

Application

• Oncology
• Fertility
• Endocrinology
• Cardiology
• Infectious Diseases
• Diabetes

End User

• Hospitals
• Blood Banks
• Clinical Laboratories
• Pharmaceutical & Biotech Companies

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Latin America Chemiluminescence Immunoassay Market Drivers and Opportunities

Rising Incidence of Infectious Diseases

The surging incidences of infectious diseases trigger the demand for accurate and timely diagnosis to establish the base for effective disease prevention, treatment, and management. Diagnosis and monitoring of multiple infections and diseases, including HIV, hepatitis C, tuberculosis, sexually transmitted infections (STIs), human papillomavirus, and infectious disease outbreaks, can be performed by using molecular diagnostics techniques, laboratory-based assays, and point-of-care tests. According to the Ballard Brief report published in 2023, Brazil has the fifth highest rate of infectious diseases, with 31,745.5 cases being reported per 100,000 people (i.e., 1 in every 3 people). Additionally, HIV is one of the major public health concerns across the globe, infecting millions of adults every year. According to The Joint United Nations Programme on HIV/AIDS (UNAIDS), 1.8 million people had HIV in 2023, and 51,000 adults and children are infected annually.

According to WHO, tuberculosis (TB) is the 13th major cause of death worldwide, and it is the second most prominent infectious disease (after COVID-19) that leads to death. It is the most common infectious disease in Latin America. According to Tarding Economics, the reported death rate (per 100,000) due to tuberculosis was 2.3% in 2022. Furthermore, countries with high TB burdens, such as Brazil, Mexico, Peru, and Haiti, accounted for 60% of new TB cases in 2022. Therefore, the increasing prevalence of infectious diseases bolsters the need for chemiluminescence immunoassay (chemiluminescence immunoassay) that features unparalleled sensitivity and specificity, prompting rapid test results and enhancing the efficiency of laboratory workflows.

Increasing focus on Research and Development

Research and development (R&D) is an essential component of pharmaceutical and biopharmaceutical companies. R&D enables market players and other organizations to come up with the latest therapeutics with significant medical and commercial potential. For instance, according to the Pan America Health Organization 2022, six institutions from Brazil, Argentina, Haiti, Perú, and México received research grants for tuberculosis and other infections in sexually transmitted infections, advanced HIV, and Human T cell lymphotropic virus (HTLV-1), which can cause cancer. These grants of around US$ 30,000 are offered as part of the “Operational research to support the elimination of infectious diseases in the Caribbean and Latin America region” initiative of the Pan-American Health Organization (PAHO) and TDR [the Special Programme for Training and Research in Tropical Diseases of UNICEF, the World Bank, the World Health Organization (WHO), and the United Nations Development Program (UNDP)]. Additionally, in 2023, the program led by the York University helps in the development of health care in the Southern regions of the world by providing funds of more than US$ 5.8 million for 16 projects in LMIC many countries, including South Asia, Africa, Southeast Asia, the Caribbean, Latin America, and the Middle East. Thus, surging R&D activities and government funding in Latin America are expected to offer lucrative opportunities in the Latin America chemiluminescence immunoassay market.

Latin America Chemiluminescence Immunoassay Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Latin America chemiluminescence immunoassay market analysis are application and end user.

• Based on application, the Latin America chemiluminescence immunoassay market is segmented into oncology, fertility, endocrinology, cardiology, infectious diseases, diabetes, and others. The oncology segment held the largest market share in 2023, and the fertility segment is expected to register the highest CAGR in the market during 2023–2031.
• By end user, the Latin America chemiluminescence immunoassay market is segmented into hospitals, blood banks, clinical laboratories, pharmaceutical & biotech companies, and others. The hospitals segment dominated the market in 2023, and the clinical laboratories segment is expected to register the highest CAGR during 2023–2031.

Latin America chemiluminescence immunoassay Market Report Scope

Latin America chemiluminescence immunoassay Market Report Coverage and Deliverables

The “Latin America chemiluminescence immunoassay Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Latin America chemiluminescence immunoassay market size and forecast at the country level for all the key market segments covered under the scope
• Latin America chemiluminescence immunoassay market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Latin America chemiluminescence immunoassay market analysis covering key market trends and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Latin America chemiluminescence immunoassay market
• Detailed company profiles