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Research provides insights into the blood screening market in Latin America

Research provides insights into the blood screening market in Latin America

Nucleic acid amplification test and blood banks segments are foreseen to be the fastest growing section of the blood screening market between 2017 and 2022.

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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.

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Such initiatives increase voluntary donations and are expected to boost the market during the prognosis period.

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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.

The reagent & kits segment is anticipated to subjugate the global market in the forecast period.

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 expected to gain huge demand throughout the prognosis period.

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.

On the basis of product segmentation, reagent & kits dominated the market in the previous years and is projected to maintain its dominance during the forecast period. Higher accuracy and specificity in detecting presence and type of various elements in small sample would drive the market.

In addition, these are cost-effective for customers and gives high return on investment to the vendors.

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Based on end-user, the Latin America Blood Screening Market has been categorized into blood banks and hospitals. Out of these, blood banks segment is projected to gain demand at most robust CAGR, as they are easily accessible and are cost-effective too.

Although the hospitals segment will continue to serve the maximum demand in the near future.

Regionally, the Latin America Blood Screening Market has been segmented into Brazil, Mexico, Argentina, Colombia, Chile, and Rest of Latin America. Out of these regions, Brazil is the fastest growing markets due to increasing awareness about blood transfusion diseases and rising screening.

Furthermore, government initiatives to boost the screening and investment by major key players in the region are likely to drive the market during the forecast period.

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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