Argentina In-Vitro Diagnostics Market by Type (Reagents, Instruments, and Software & Services), by Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Other IVD Techniques), by Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Others), and by End User (Stand Alone, Laboratory, Hospitals, Academics and Medical Schools, Point of Care Testing, and Other End Users) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Healthcare | Publish Date: 08-Jul-2024 | No of Pages: 139 | No. of Tables: 104 | No. of Figures: 69 | Format: PDF | Report Code : N/A
Argentina In-Vitro Diagnostics Market Overview
The Argentina In-Vitro Diagnostics Market size was valued at USD 358 million in 2023, and is predicted to reach USD 482 million by 2030, at a CAGR of 4% from 2024 to 2030. In-vitro diagnostics (IVD) refers to a wide range of medical tests conducted on samples of bodily fluids, tissues, or cells outside of the body to diagnose diseases, monitor therapy, and assess overall health conditions.
IVD tests are performed in laboratory settings using various techniques and technologies, including immunoassays, molecular diagnostics, clinical chemistry, hematology, and microbiology. These tests enable early detection of diseases, allowing for timely intervention and treatment initiation. By providing rapid and accurate results, IVD tests facilitate personalized medicine, guiding tailored treatment approaches based on individual patient characteristics.
Also, immunodiagnostic experiments provide valuable insights into biological systems, enabling scientists and researchers to make significant contributions to fields such as medicine, biotechnology, and pharmacology. They serve as essential tools for understanding fundamental biological processes and developing innovative solutions to address health challenges.
Investment in Public Healthcare Infrastructure Fuels the Growth of the Market in Argentina
Argentina's focus on bolstering public healthcare infrastructure is significantly driving the growth of in-vitro diagnostics market. In July 2023, the world Bank Board of Directors approved USD 50 million in new financing for Argentina to improve access to public healthcare services. The funding aims to enhance access to public healthcare services, addressing critical gaps in healthcare infrastructure and resources.
With improved access to public healthcare services, there will be a surge in demand for diagnostic tests and technologies to support the diagnosis, monitoring, and management of various health conditions.
The investment in healthcare infrastructure and resources will lead to the modernization and expansion of diagnostic laboratories and facilities throughout Argentina while creating a conducive environment for the adoption of advanced diagnostic technologies, such as molecular diagnostics, point-of-care testing devices, and automated laboratory systems.
Prevalence of Chronic Diseases Drive the Market Growth in Argentina
The escalating prevalence of chronic diseases in the region is driving the Argentina in-vitro diagnostics market growth. According to a recent report by the International Diabetes Federation, in 2000, Argentina had 760.9 thousand individuals living with diabetes. By 2045, this figure is projected to surge to 2,552 thousand, indicating a significant growth rate over the 45-year period. As the prevalence of diabetes and other chronic conditions continues to rise, there is a heightened demand for innovative immunodiagnostics technologies.
High Research, Development, and Regulatory Approval Costs Hinder the Market Expansion
High costs associated with research, development, and regulatory approval are significant factors restraining the Africa in-vitro diagnostics market expansion. Operating within this sector necessitates significant financial investment for companies to navigate the complex landscape of research and development. This investment often encompasses extensive clinical trials, laboratory testing, and product refinement to guarantee accuracy and reliability.
Additionally, obtaining regulatory approvals from agencies such as the FDA requires strict adherence to stringent standards, further compounding the financial burden. This financial constraint can discourage potential adopters from market expansion.
Introduction of Point-of-Care Testing (POCT) Solutions in IVD Creates Market Opportunity
Point-of-care testing (POCT) is poised to significantly drive the Africa IVD market demand in the forthcoming years. POCT serves as a valuable complement to laboratory testing, especially in situations where immediate results are crucial, such as emergency departments, ambulances, and remote healthcare settings.
With POCT technologies offering rapid tests for infectious diseases, cardiac biomarkers, glucose monitoring, pregnancy testing, and more, healthcare providers can quickly assess patients' conditions and make timely treatment decisions.
By integrating POCT with traditional IVD, healthcare providers can enhance their immunodiagnostic capabilities, delivering more efficient and patient-centered care. This integration streamlines workflows, allowing for faster diagnosis and treatment initiation, ultimately leading to improved patient outcomes.
Competitive Landscape
The promising players operating in the Argentina in-vitro diagnostics industry include Roche Holding AG, Abbott Laboratories, Thermo Fisher Scientific Inc, Danaher Corporation, Becton, Dickinson and Company, Siemens Healthineers AG, bioMérieux SA, Sysmex Corporation, QIAGEN N.V., and Bio-Rad Laboratories, Inc., and others.
Argentina In-Vitro Diagnostics Market Key Segments
By Type
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Reagents
-
Instruments
-
Software & Services
By Technique
-
Immunodiagnostics
-
Enzyme-Linked Immunosorbent Assay (ELISA)
-
Rapid Tests
-
Chemiluminescence Immunoassay (CLIA)
-
Enzyme-linked Immunosorbent spot (ELISpot)
-
Radioimmunoassay (RIA)
-
Western Blot
-
-
Hematology
-
Molecular Diagnostics
-
PCR
-
INAAT
-
Hybridization
-
DNA diagnostics
-
Microarray
-
Other Molecular Diagnostics
-
-
Tissue Diagnostics
-
Clinical Chemistry
-
Basic Metabolic Panel
-
Liver Panel
-
Renal Profile
-
Lipid Profile
-
Thyroid Function Panel
-
Electrolyte Panel
-
Speciality Chemicals
-
-
Other IVD Techniques
By Application
-
Infectious Diseases
-
Cancer
-
Cardiac Diseases
-
Immune System Disorders
-
Nephrological Diseases
-
Gastrointestinal Diseases
-
Others
By End User
-
Stand Alone Laboratory
-
Hospitals
-
Academics and Medical Schools
-
Point of Care Testing
-
Other End Users
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 358 million |
|
Revenue Forecast in 2030 |
USD 482 million |
|
Value Growth Rate |
CAGR of 4% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
Roche Holding AG
-
Abbott Laboratories
-
Thermo Fisher Scientific Inc.
-
Danaher Corporation
-
Becton, Dickinson and Company
-
Siemens Healthineers AG
-
bioMérieux SA
-
Sysmex Corporation
-
QIAGEN N.V.
-
Bio-Rad Laboratories, Inc.
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