As per our report, the Latin America Mycoplasma Testing Market is predicted to be worth USD 104.30 Million in 2023 and USD 186.29 Million by 2028, registering a CAGR of 12.3% during the forecast period.
Increased research activity by pharmaceutical and biotechnology companies, increased government support and funding for research activities, and growing contamination of cell cultures worldwide are the few factors primarily driving the Latin American mycoplasma testing market. The growth of the Latin American mycoplasma testing market is driven by growing concerns over contamination of cell cultures, the growth of pharmaceutical and biotechnology industries, and increasing pharmaceutical R&D activities and investments.
Unlike other sectors, the ongoing pandemic due to the novel coronavirus, the Latin American mycoplasma testing market has seen unexpected growth resulting from post covid complications in patients across the world, especially in developing countries.
Recently, several reports have reminded clinicians of the possibility of co-infection with other pathogens (such as Mycoplasma pneumonia) in COVID-19 patients. This means the need to screen patients with symptoms of COVID-19 (if they have pneumonia) for mycoplasmas. These cases are expected to stimulate demand for mycoplasma testing as part of the diagnosis/pathology. The increasing rate of co-infections in COVID-19 cases, with a significant likelihood of being caused by Mycoplasma pneumoniae, is expected to drive demand for mycoplasma testing in several countries around the world over the coming months. The growing need for testing will create lucrative opportunities for the market, eventually leading to the market's exponential growth.
However, a high degree of consolidation acts and a strict regulatory framework are the few factors expected to hamper the Latin American mycoplasma testing market growth during the forecast period 2023-2028. The regulation is restrictive in nature and therefore avoids using other testing methods that could potentially accurately detect mycoplasmas. These changes in the regulation of biologics are expected to improve the sensitivity and specificity of mycoplasma testing by developing new technologies. Therefore, an increase in public funding for pharmaceutical and biotechnology research has stimulated R&D activities, promoting the wide application of mycoplasma test products.
The major challenge to the Latin American mycoplasma testing market is large and well-established companies and enjoy a high degree of brand loyalty. New entrants in this market compete with existing testing products and distinguish themselves by developing innovative product offers. The high degree of consolidation is a major barrier to entry for new testing kits, which should restrict investments and therefore slow the growth potential of this market.
This research report on the Latin America Mycoplasma Testing Market has been segmented and sub-segmented into the following categories:
In Latin America, the Brazilian mycoplasma testing market is expected to grow to occupy the leading share during the forecast period due to its well-established healthcare industry and the increasing prevalence of chronic diseases in the region. In addition, biotechnology companies and pharmaceutical players and increased investments are expected to boost regional market growth. Due to increased technological advancements in cell culture and government-funded aids in drug research development, growth is seen in populated regions such as Columbia, Mexico, and Argentina.
KEY MARKET PLAYERS:
A few of the noteworthy companies dominating the Latin America Mycoplasma Testing Market profiled in this report are PromoCell GmbH, Thermo Fisher Scientific Inc., Minerva Biolabs GmbH, Lonza Group Ltd., Charles River Laboratories International, Inc., Gibraltar Laboratories, Sartorius AG, Merck KGaA, Roche Diagnostics, SGS S.A., American Type Culture Collection, InvivoGen, and WuXi AppTec.
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