Latin America Blood Screening Market - Nucleic acid amplification test and blood banks fastest growing segments, 2025.

Massive number of progressing improvements and advancements in the social insurance and hardware division, rising spending abilities and the usability of restorative devices, the rising rates of chronic infections among all demographics, every one of these variables have prompted the expanded reception of the innovation thus expanding the development. Variables like high throughput test examination and expanded work process productivity contribute toward the growth of this market. Furthermore, in 2010, the rate of screening for hepatitis B, hepatitis C, and HIV viruses increased as compared to previous years with almost 100% in most of the countries. To motivate volunteers, the WHO established a goal to provide safe blood access to the entire world by 2025. Such initiatives increase voluntary donations and are expected to boost the market during the prognosis period.

Rising incidence rate of infectious diseases along with the increasing awareness about blood donation and safety of donated blood is likely to boost the industry growth over the forecast period. Development and commercialisation of newer tests that are more sensitive, specific, and have a lower window period are facilitating the market growth and could help increase the market share during the forecast period.

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The Latin America Blood Screening Market is enhanced by factors such as:

Increasing screening of donor.
Rising awareness about transfusion-transmitted diseases.
Increasing number of blood donations and blood donors.

Based on technology, the Nucleic acid amplification test (NAT) segment is likely to be the largest segment owing to its high sensitivity and specificity for viral nucleic acid. The test identifies nucleic acid earlier than other screening methods and hence, narrows the window period of HBV, HCV, and HIV infections. Further, Enzyme-Linked Immuno Sorbent Assay (ELISA) accounted for the second largest share of the market. The evolution in this technology is attributed to continuous development to increase its specificity, and low cost as compared to NAT. Additionally, there are various ELISA generations available in the market.

Nucleic acid amplification test segment is estimated to hold the major share of the market.

Nucleic acid amplification test or nucleic acid test (NAT) is expected to be the fastest growing segment over the prognosis period. It comprises of transcription mediated amplification (TMA) tests and polymerase chain reaction. Increasing demand of NAT over Enzyme-Linked Immuno Sorbent Assay (ELISA) test due to high sensitivity and specificity for viral nucleic acid is subsidizing to the fastest growth during the conjecture period.

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Reagent & kits dominated the product segment in the past years. Introduction of new assays for the detection of various diseases is expected to enable the segment to gain the maximum share of market in the coming years. Blood banks segment is projected to gain demand at most robust CAGR, as they are easily accessible and are cost-effective too. Even though the hospitals segment will endure to serve the maximum demand in the forthcoming years.

Brazil is estimated as the fastest growing market over the study period.

Brazil is the fastest growing markets due to increasing awareness about blood transfusion diseases and rising screening. Additionally, government initiatives and various ingenuities by organizations to boost blood screening and limit transfusion disease are likely to propel the growth of market.

Some of the key players in the industry include Becton Dickinson and Company, Thermo Fisher Scientific., Ortho-Clinical Diagnostics Inc., Danaher Corporation (Beckman Coulter), Abbott Laboratories, Bio-Rad Laboratories Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ltd., Grifols and Siemens AG and so on.

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