South America Flu Diagnostic And Treatment Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Flu (Type A, Type B), By Offering (Diagnostics (Rapid Influenza Diagnostic Test, Rapid Molecular Assay, Others), Therapeutics), By Age Group (0-14 Years, 15-64 Years, >=65 Years), By End-User (Hospital Laboratory, Outpatient Clinic, Reference Laboratory), And By Country - Forecasts From 2022 To 2027

The South American flu diagnostic and treatment market is projected to grow at a CAGR of 13.10% throughout the forecast. The market was valued at US$2,574.724 million in the year 2020 and is expected to reach a market size of US$6,093.548 million by 2027.

Rising cases of influenza in countries like Brazil, Argentina, and Chile are augmenting the demand for flu diagnostic and treatment solutions in the region. The increasing prevalence of chronic diseases in South American countries is also leading to a rising incidence of influenza-like illness (ILI), which, in turn, is spurring the market growth of flu diagnostics and treatment across the region. According to the World Health Organization (WHO), the prevalence of diabetes has increased steadily in Brazil since 1980, with 7.4% of males and 8.8% of females suffering from diabetes. The increasing number of hospitalizations due to influenza is driving the demand for flu diagnostic and treatment solutions in South America. The rising ageing population is another factor behind the growing incidence of flu in the region, thus driving the overall regional market growth.

Despite increasing efforts made by governments to focus on vaccination campaigns so as to ensure people receive regular flu shots, people are refusing to take vaccines against influenza. As such, the number of people with flu is augmenting in the region, thus positively impacting the market growth of the flu diagnostic and treatment market in South America. Moreover, vaccination deficits at pharmacies is also responsible for the ever-growing number of flu patients in South America, thus positively impacting the regional market growth. For example, in Chile, more than 4,500 refusals of influenza vaccinations of minors were reported in 2019 in the framework of the nationwide campaign. The rising number of outbreaks of new flu viruses will continue to drive the South American flu diagnostic and treatment market as people who get their flu shots regularly are still not immune to these new strains. The rising influx of international tourists in South American countries is also a leading cause of the spread of new virus strains, which, in turn, is further bolstering the market growth of flu diagnostics and treatment in this region.

Increasing demand, as well as easy availability of OTC (over-the-counter) medicines for treating influenza, is also a driving factor for the market growth of flu diagnostics and treatments across the region. According to the Chilean Ministry of Economy, flu medications account for approximately 6% of total over-the-counter product sales in the country. Supportive government initiatives and investments to boost healthcare infrastructure in South American countries are further contributing to the growth of the flu diagnostic and treatment market. Increasing demand for private medical diagnosis and treatment is also supporting the market growth of flu diagnostics and treatment in South America.

The South American flu diagnostic and treatment market has been segmented on the basis of the type of flu, offering, age group, end-user, and country. On the basis of the type of flu, the South American flu diagnostic and treatment market has been classified into type A and type B. Type A accounted for a significant market share in 2019 and will continue to maintain its dominance till the end of 2025. By offering, the market has been segmented into diagnostics and therapeutics. The South American flu diagnostic and treatment market has also been segmented by age group as 0-14 years, 15-64 years, and >=65 years. By the end-user, the segmentation of the South American flu diagnostic and treatment market has been done on the basis of hospital laboratories, outpatient clinics, and reference laboratories. By country, the market segmentation has been done as Brazil, Argentina, and Others. Brazil will hold the major market share throughout the forecast period.

Key Developments in the Market

• In June 2021, following the addition of numerous clinical research facilities in Mexico and Brazil, Appili Therapeutics expanded the Phase III clinical trial of Avigan/Reeqonus (favipiravir) to evaluate the safety and efficacy of the drug as a home-based remote treatment of moderate COVID. Avigan as formulated by Fukifilm Toyama Chemical for flu treatment in Japan. It is said to have a potent antiviral effect against single-stranded RNA viruses like coronaviruses by selectively inhibiting viral ribonucleic acid (RNA)-dependent RNA polymerase (RdRP). 

COVID-19 Insights

COVID-19 had a positive impact on the South American flu diagnostics and treatment market. The surge in active cases and the resemblance in the symptoms of influenza and COVID-19 have led to the increased consumption of both influenza and SARS-CoV-2 diagnostic kits to determine the cause of infection. The growing number of flu cases was a prime growth factor. According to the regional statistics derived by the Pan American Health Organisation, for instance, in the seventh week of 2020, the number of flu cases increases increased compared to the former in Brazil.

South America Flu Diagnostic and Treatment Market Scope:

 

Report Metric	Details
Market Size Value in 2020	US$2,574.724 million
Market Size Value in 2027	US$6,093.548 million
Growth Rate	CAGR of 13.10% from 2020 to 2027
Base Year	2020
Forecast Period	2022–2027
Forecast Unit (Value)	USD Million
Segments Covered	Type of Flu, Offering, Age Group, End-User, And Country
Regions Covered	Brazil, Argentina, Chile, Peru, Others
Companies Covered	Thermo Fisher Scientific Inc., Abbott, Quidel Corporation, Pfizer Inc., F. Hoffmann-La Roche Ltd, BD, 3M
Customization Scope	Free report customization with purchase

 

Key Market Segmentation

• By Type of Flu
  • Type A
  • Type B
• By Offering
  • Diagnostics
    • Rapid Influenza Diagnostic Test
    • Rapid Molecular Assay
    • Others
  • Therapeutics
• By Age Group
  • 0-14 Years
  • 15-64 Years
  • >=65 Years
• By End-User
  • Hospital Laboratory
  • Outpatient Clinic
  • Reference Laboratory
• By Country
  • Brazil
  • Argentina
  • Chile
  • Peru
  • Others

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