Latin America Point of Care Diagnostics Market Growth Forecast Through 2030
Latin American Point Of Care Diagnostics Market
Dublin, March 05, 2024 (GLOBE NEWSWIRE) -- The "Latin America Point Of Care Diagnostics Market Size, Share & Trends Analysis Report By Product (Glucose Testing, Hb1Ac Testing, Fertility, Cardiac Markers, Hematology) By End-use, By Country, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The latest market analysis report on the Latin America Point of Care (POC) Diagnostics market has been published, revealing a promising outlook for the industry. The report is a comprehensive examination of the market size, share, trends, product types, and end-use sectors.
The published report indicates that the market is projected to reach an impressive USD 5.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.3%. The substantial growth is attributed to the penetration of key players and an increase in regional initiatives by governments and academic institutions aimed at preventing the spread of chronic diseases.
A detailed analysis within the report highlights several market segments contributing to the overall growth. Glucose testing, Hb1Ac testing, fertility, cardiac markers, and hematology are some of the product sectors covered.
Key Insights from the Latin America Point of Care Diagnostics Market Report
The infectious diseases testing kits segment accounted for the largest revenue share in the previous year, supported by the high prevalence of diseases like HIV/AIDS, dengue fever, and Zika virus.
Hb1Ac POC testing is emerging as a substantial contributor to market revenue, with expectations of registering a faster CAGR than glucose testing due to its effectiveness in diabetes management.
Latin America's high susceptibility to endemic infectious diseases and the possibility of new emerging diseases, such as Ebola, positions the infectious disease testing kit segment as a key area of focus.
End-use sectors have been closely examined, with clinics anticipated to dominate market share thanks to heightened healthcare awareness and various initiatives targeting disease spread control.
Brazil and Mexico are spotlighted as notable contributors to the market growth. Brazil, with its healthcare reforms and escalating rates of chronic conditions, is expected to experience the fastest growth rate. Mexico’s substantial population base presents a significant opportunity for the adoption of POC diagnostics.
Strategies employed by industry participants to maintain a competitive edge and initiatives by governments to foster collaborations have been identified as critical factors that will drive the market's expansion.
The in-depth market analysis and forecasts shed light on the potential of the point of care diagnostics industry in Latin America, promising valuable insights for industry stakeholders and policymakers. As the healthcare sector in the region continues to advance, the projections and trends identified in the report are poised to inform strategic decisions and spur further growth.
This comprehensive report is a must-read for anyone interested in understanding the forces shaping the future of the POC diagnostics market in Latin America. It details the complexities of the market and offers a thorough examination of the factors driving its expansion, with in-depth coverage from product innovation to end-use implications.
Key Attributes
Report Attribute | Details |
No. of Pages | 96 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $3.3 Billion |
Forecasted Market Value (USD) by 2030 | $5.9 Billion |
Compound Annual Growth Rate | 7.3% |
Regions Covered | Latin America |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Latin America Point Of Care Diagnostics Market Variables, Trends & Scope
Chapter 4. Latin America Point Of Care Diagnostics: Product Estimates & Trend Analysis
Chapter 5. Latin America Point Of Care Diagnostics: End-use Estimates & Trend Analysis
Chapter 6. Latin America Point Of Care Diagnostics Market: Country Estimates & Trend Analysis
Chapter 7. Competitive Landscape
Companies Mentioned
Abbott Laboratories
Alere Inc (Abbott)
Roche Diagnostics
Bio-Rad Laboratories
Danaher Corporation
bioMérieux
Agilent Technologies, Inc.
OraSure Technologies Inc
Siemens Healthineers
Abaxis Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r1ofa8
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