The increasing prevalence of the disease and its fatal affects has stimulated its growth.
According to Market Data Forecast study, the Latin America Sepsis Diagnostics Market was worth USD 44.4 million in 2016 and estimated to be growing at a CAGR of 9.6%, to reach USD 70.22 million by 2021.
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Sepsis is a type of life-threatening organ dysfunction arises when the body's response to an infection injures its own tissues and organs. It can be caused due to weakened immune system, chronic illness, kidney or liver disease, cancer and severe wounds.
It can be of two types severe sepsis when there’s organ failure and other is septic shock in which there are the symptoms of severe sepsis includes a low blood pressure. The hospital-acquired infections and rising prevalence of sepsis has led to a growing need for its early diagnosis.
Factors accountable for driving the market are growing number of surgical procedures, high incidence rates of hospital acquired infections, rising prevalence of different antibiotic resistant bacterial strains, increasing geriatric population and increasing number of product approvals. On the other hand, factors like lack of standard protocols, lack of awareness and dearth or skilled staff are likely to confine the growth of the market.
The Latin America Sepsis Diagnostics Market is segmented based on Pathogen, Product, Technology, Method and Usability. Based on Pathogen – Bacterial and Fungal.
Based on Product - Instruments, Blood Culture Media, Assay Kits and Reagents. Based on Technology - Molecular Diagnostics, Microbiology, Immunoassay and Flow Cytometry.
Based on Method – Conventional and Automated. Based on Usability - Laboratory and Point-of-care testing.
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Based on Geographical analysis the market is separated into regions of Brazil, Argentina, Mexico and Rest of Latin America. Brazil is leading the market while Argentina is at second place.
Growing focus of stakeholders on research projects, drug discovery and diagnosis has helped Brazil dominate the market. Argentina is expected to grow the fastest owing to number of factors such as increasing number of surgical procedures, growing number of clinical studies, developing healthcare infrastructure, and rising focus of global players in this region.
Bacterial Sepsis Diagnostics have accounted for major share among the pathogen segment. Molecular Diagnostics is expected to grow the fastest among the technology segment.
Blood culture media is regarded as the standard treatment procedure and holds the major share among the products segment.
Some of the key players dominating this Latin America Sepsis Diagnostics Market include:
- BioMérieux SA,
- T2 Biosystem Inc
- Thermo Fisher Scientific Inc.
- Nanosphere Inc
- Abbott Laboratories
- Roche Diagnostics Limited
- Becton Dickinson and Company
- Bruker Corporation
- Beckman Coulter, Inc.
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