Market Trends of Brazil In Vitro Diagnostics Industry
This section covers the major market trends shaping the Brazil In Vitro Diagnostics Market according to our research experts:
Molecular Diagnostics Segment is Expected to Witness a Significant Growth
By test type, molecular diagnostics are expected to witness significant growth. Molecular diagnostic devices are used to analyze biological markers in the genome and proteome to detect pathogens or mutations.
Factors, such as large outbreaks of bacterial and viral epidemics in the world, increasing demand for point-of-care diagnostics, and rapidly evolving technology, are driving the growth of the molecular diagnostics segment. For instance, in November 2020, Chembio Diagnostics, Inc. a leading point-of-care diagnostic company focused on infectious diseases, revealed that its subsidiary Chembio Diagnostics Brazil Ltda. received Agência Nacional de Vigilância Sanitária (ANVISA) approval for the DPP SARS-CoV-2 Antigen test system in Brazil.
The use of molecular diagnostic techniques in the development and subsequent administration of personalized medicine is likely to boost the market growth. For instance, in January 2022, the Oswaldo Cruz Foundation finished the development of two new molecular tests for the diagnosis of COVID-19, including one test submitted to ANVISA.
Thus, due to the above-mentioned factors, the market is expected to witness a significant growth over the forecast period.
