The argentina in vitro diagnostics market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing population, advancement in genetics, and enhanced efficiency of in-vitro diagnostics in diagnosis of cancer.
In vitro diagnostics are tests done on tissue and blood samples of the human body. In vitro diagnostics can monitor patient’s health and discover other conditions to help them treat, cure, and prevent diseases.
The Covid-19 pandemic affected the demand and supply of Argentina in vitro diagnostics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Key Players covered in the Report
Thermo Fisher Scientific Inc.; Roche Diagnostics; Danaher Crop.; BioMerieux; ARKRAY Inc.; Abbott Laboratories; Becton, Dickinson and Company; QIAGEN; Siemens AG; and Bio-Rad Laboratories Inc.
Market Segment Insights
Based on end-users, the Argentina in vitro diagnostics market is segregated into hospitals & clinics, diagnostic laboratories, and others. The hospitals & clinics segment accounts for a key share of the market. Growth of the market is attributed to rising demand for major diagnostics procedures and high prevalence of infectious & chronic diseases. However, the diagnostic laboratories segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing number of research &development procedures and improved standard of living.
On the basis of products, the market is segregated into reagent, instrument, and others. The reagent segment accounts for a significant share of the market. Growth of the market is attributed to well-established healthcare infrastructure and increasing healthcare expenditure. The instrument segment is anticipated to expand at a rapid pace during the forecast period due to rapid adoption of point of care testing.
Based on usability, the Argentina in vitro diagnostics market is bifurcated into reusable IVD devices and disposable IVD devices. The reusable IVD devices segment accounts for a major share of the market. Growth of the market is attributed to increasing demand of in-vitro toxicology testing in pharmaceuticals sector and increasing advancement in genetics. The disposable IVD devices segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising prevalence of diabetes disease and rapid technological advancement in in-vitro toxicology testing methods.
On the basis of applications, the market is segmented into cancer & oncology, infectious disease, autoimmune disease, diabetes, cardiology, nephrology, and others. The cancer & oncology segment accounts for a significant share of the market. Growth of the market is attributed to high cost of several diagnostic platforms and rise in demand for IVD kits. The infectious disease segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing development & research procedures and changing lifestyles.
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Based on test types, the Argentina in vitro diagnostics market is divided into molecular diagnostics, clinical chemistry, immune diagnostics, hematology, and others. The immune diagnostics segment accounts for a significant share of the market. Growth of the market is attributed to high prevalence of infectious & chronic diseases. The molecular diagnostics segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing geriatric population.
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