The Argentina flu diagnostic and treatment market is projected to grow at a CAGR of 12.13% throughout the forecast period to reach US$692.185 million in 2027, from US$310.551 million in 2020.
Increasing cases of influenza in Argentina are the major driver of flu diagnostic and treatment market growth in the country. The rising number of hospitalizations due to influenza is driving the demand for flu diagnostic and treatment solutions in Argentina.
Even though the Argentina government provides flu vaccines to the aged population, children, and pregnant women, the constant outbreaks of new viruses to which no one is immune are also fueling the market growth of the flu diagnostic and treatment market in the country. Moreover, the elderly population (60 years and above) constitutes the higher burden of flu disease due to immunosenescence and the resulting suboptimal clinical effectiveness of flu vaccines in this age group. Hence, the rising elderly population is also spurring the demand for flu diagnostic and treatment solutions in Argentina.
The Argentina flu diagnostic and treatment market is expected to grow due to the rising demand for OTC, low medication prices, improved government measures, and others.
The rising demand for OTC (over-the-counter) medications to treat flu symptoms is also a driving factor for flu diagnostic and treatment market growth in Argentina. The share of OTC drugs in Argentina has continuously increased in terms of volume, mostly due to the low prices of these medicines as compared to branded drugs. Furthermore, government measures taken to limit the rising prices of OTC medicines in Argentina also contribute to the demand for OTC medicines, thereby boosting flu diagnostic and treatment market growth in the country. Rising investments in R&D across the domestic pharmaceutical industry will also continue to drive the market growth of flu diagnostic and treatment in Argentina during the next five years as more than USD150 million per year is invested in R&D in the country.
By type of flu, the Argentina flu diagnostic and treatment market can be segmented into type A and type B.
Although there are 4 types of seasonal influenza viruses, types A and B are the causes of seasonal epidemics of the disease. Type C and D viruses are detected less frequently and usually cause mild infections; thus, they do not pose much threat to public health, as per WHO. Argentina flu/ influenza flue type A is further classified into several subtypes such as hemagglutinin (HA), neuraminidase (NA), etc. On the other hand, type B is not classified into subtypes, but can divide into lineages.
The rising ageing population in Argentina is leading to a growing demand for flu diagnostic and treatment solutions among the age group of >=65 years.
By type age group, the Argentina flu diagnostic and treatment market can be segmented into 0-15 years, 15-65 years, and >=65 years. Since elder people are more susceptible to catching the flu the segment >=65 years is expected to hold a sizeable share. The age group of 15-65 faces comparatively less risk of this disease. The age group of 0-14 is more prone to this disease. Hence this segment is expected to witness rapid growth.
By type of offering, the diagnostics segment is expected to grow in the anticipated period.
The Argentina flu diagnostic and treatment market can be segmented into diagnostics and therapeutics. Diagnostic treatment is done during periods of low influenza activity and outside of epidemic situations. Most cases are clinically diagnosed. Laboratory confirmation of this virus is done through the throat, nasal and nasopharyngeal secretions. Rapid influenza diagnostics tests (RIDT) are used in clinical settings, but they have lower sensitivity compared to the RT-PCR method. Therapeutic treatment is done to relieve symptoms of influenza such as fever. Neuraminidase inhibitors are prescribed in this treatment ideally within 48 hours following symptoms on set.
During COVID-19 a significant decrease in the hospitalization cases of influenza was observed throughout the country. Since the healthcare sector was overburdened with COVID-19 patients, the diagnostics and therapeutics for influenza cases declined to affect the market potential in 2020. The similarities between Influenza and COVID-19, both respiratory diseases made it difficult to detect. Hence, the influenza cases observed during COVID were significantly low. Further, the Ministry of health in Argentina warned the nation about the rising influenza cases while the variant Omicron was circulating in the country.
Thermo Fisher Scientific Inc.
F. Hoffmann-La Roche Ltd.
H.U. Group Holdings, Inc.
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