The sepsis diagnostics market in Latin America is valued at USD 50.91 Million in 2022 and is estimated to be growing at a CAGR of 8.92% to reach USD 78.04 Million by 2027.
The growing burden of infectious diseases and increased sepsis incidence in Latin American countries are majorly pushing the market growth. According to WHO, sepsis affects around 30 million people, and also an estimated 6 million are dying every year. The market participants in this region have numerous opportunities to maximize their market share by developing and launching their advanced rapid tests. The growing aging population, the high R&D investments by the market participants in this regional market for the new tests, treatments, and intercessions to detect, treat, and prevent diseases. Initial detection of sepsis in patients has become essential, which is a positive signal for market growth. Growing demand for antibiotic-resistant bacterial strains, rising cases of neonatal umbilical cord infection is favoring the market.
Lack of standard protocols, shortage, experienced staff, and lack of awareness are likely to hinder the market growth to a small extent. Further, the market growth is estimated to get hampered by the poor healthcare infrastructure, the high costs associated with the treatments.
This research report on the Latin American sepsis diagnostics market has been segmented and sub-segmented into the following categories:
The Latin American sepsis diagnostics market is expected to have a steady growth rate during the forecast period. Mexico, Argentina, Peru, Chile, and other Latin American countries are included in the market. For example, according to a PubMed study, late sepsis onset is one of the leading causes of death among low-birth-weight infants in Chile. Additionally, the market for sepsis diagnostics in the region is primarily driven by regional alliances working to combat sepsis sickness.
The Instituto Latino Americano de Sepse convened a meeting for officials from Latin American countries to discuss sepsis-related issues. Furthermore, following the WHO decision, it is focused on exploring how to combat sepsis in these nations. As a result, such critical aspects are projected to propel the sepsis diagnostics market forward in the following decade.
In Brazil, the prevalence of sepsis has risen dramatically over time. One of the leading causes of death among sepsis patients in this region is a lack of resources. The demand for sepsis diagnostics is increasing due to some healthcare professionals taking initiatives to address the issues of sepsis. As a result, such factors are expected to boost the sepsis diagnostics market in Brazil over the forecast period.
The sepsis diagnostics market in Mexico and Argentina is likely to grow rapidly. Various activities by various organizations are expected to raise awareness about the disease and increase demand for its diagnosis solutions, accelerating market growth—the increasing prevalence of hospital-acquired infections and chronic disorders such as renal and liver disease fuels market expansion.
KEY MARKET PLAYERS:
Companies playing a key role in the Latin American sepsis diagnostics market profiled in the report are bioMérieux SA, T2 Biosystem Inc, Cepheid, Thermo Fisher Scientific Inc., Nanosphere Inc, Abbott Laboratories, Roche Diagnostics Limited, Becton, Dickinson and Company, Bruker Corporation, and Beckman Coulter, Inc.
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