Latin America Allergy Diagnostics And Therapeutics Market Size & Outlook
Latin America allergy diagnostics and therapeutics market, 2018-2030 (US$M)
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Latin America allergy diagnostics and therapeutics market highlights
- The Latin America allergy diagnostics and therapeutics market generated a revenue of USD 1,965.7 million in 2023.
- The market is expected to grow at a CAGR of 6.3% from 2024 to 2030.
- In terms of segment, inhaled was the largest revenue generating allergen type in 2023.
- Other Allergens is the most lucrative allergen type segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,965.7 million |
| Market revenue in 2030 | USD 3,024.6 million |
| Growth rate | 6.3% (CAGR from 2023 to 2030) |
| Largest segment | Inhaled |
| Fastest growing segment | Other Allergens |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Inhaled, Drug, Other Allergens, Food |
| Key market players worldwide | Rohm Co Ltd, Thermo Fisher Scientific Inc, PerkinElmer, BioMerieux SA, Siemens Healthineers AG ADR, Omega Healthcare Investors Inc, Danaher Corp, Alcon Inc, AbbVie Inc, Sanofi SA, Allergy Therapeutics PLC, Pfizer Inc, Teva Pharmaceutical Industries Ltd, GSK PLC, Sun Pharmaceutical Industries, Roche Holding AG, Merck & Co Inc, Astellas Pharma Inc, Epigenomics AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 6.3% of the global allergy diagnostics and therapeutics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,489.1 million by 2030.
Inhaled was the largest segment with a revenue share of 55.14% in 2023. Horizon Databook has segmented the Latin America allergy diagnostics and therapeutics market based on inhaled, drug, other allergens, food covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America region includes rapidly evolving economies, including Brazil and Mexico. Increasing R&D activities, coupled with rapid technological advancements in the region, are anticipated to fuel market growth.
Increasing government spending, growing investments by major pharmaceutical & biopharmaceutical companies, and presence of major academic research institutes are among the factors likely to promote market growth. Rising incidence of allergies such as asthma, allergic rhinitis, and food allergies.
However, most patients do not receive proper medication due to a lack of awareness, which may hinder market growth in the coming years. Similarly, other factors such as poor infrastructure combined with inaccessibility to remote regions, low affordability, and shortage of skilled professionals may hamper the market growth in this region during the forecast period.
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Allergy Diagnostics And Therapeutics Market Scope
Allergy Diagnostics And Therapeutics Market Companies
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Latin America allergy diagnostics and therapeutics market size, by country, 2018-2030 (US$M)
Latin America Allergy Diagnostics And Therapeutics Market Outlook Share, 2023 & 2030 (US$M)
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