Latin America Biosensors Market Size & Outlook, 2022-2030
Latin America biosensors market, 2018-2030 (US$M)
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Latin America biosensors market highlights
- The Latin America biosensors market generated a revenue of USD 2,344.8 million in 2022.
- The market is expected to grow at a CAGR of 8.1% from 2023 to 2030.
- In terms of segment, electrochemical was the largest revenue generating technology in 2022.
- Electrochemical is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 2,344.8 million |
| Market revenue in 2030 | USD 4,384.3 million |
| Growth rate | 8.1% (CAGR from 2022 to 2030) |
| Largest segment | Electrochemical |
| Fastest growing segment | Electrochemical |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Thermal, Electrochemical, Piezoeletric, Optical |
| Key market players worldwide | Bio-Rad Laboratories Inc, Medtronic PLC, Abbott Laboratories, Biosensors, Pinnacle Financial Partners Inc, DuPont Nutrition & Biosciences, Johnson & Johnson, Koninklijke Philips NV, Nova Biomedical, Koch Industries, TDK Corp, Siemens AG |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.7% of the global biosensors market in 2022.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 4,712.8 million by 2030.
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Biosensors Market Scope
Biosensors Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America biosensors market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biosensors market will help companies and investors design strategic landscapes.
Electrochemical was the largest segment with a revenue share of 71.41% in 2022. Horizon Databook has segmented the Latin America biosensors market based on thermal, electrochemical, piezoeletric, optical covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America biosensors market is anticipated to witness a significant growth rate of 8.48% over the forecast period. Reforms in Latin American healthcare system, growing number of countries seeking to implement universal healthcare coverage, and improvements in healthcare infrastructure are some of the factors driving the market growth in this region.
In addition, increasing prevalence of heart diseases is leading to an increase in the number of patients suffering from diabetes in the region. According to World Bank, in 2019, the prevalence of diabetes in the region among the age group of 20 to 79 was 9.7%.
The ClinMed International Library reported that the high level of obesity associated with prediabetes present in the population in the region increases the risk of type 2 diabetes development. It also reported that if the trend continues then the percentage of population suffering from diabetes may reach to 50.00% in the future.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America biosensors market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America biosensors market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America biosensors market size, by country, 2018-2030 (US$M)
Latin America Biosensors Market Outlook Share, 2022 & 2030 (US$M)
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