Latin America Blood Testing Market Size & Outlook
Latin America blood testing market, 2018-2030 (US$M)
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Latin America blood testing market highlights
- The Latin America blood testing market generated a revenue of USD 8,094.6 million in 2023.
- The market is expected to grow at a CAGR of 8.1% from 2024 to 2030.
- In terms of segment, glucose testing was the largest revenue generating test type in 2023.
- Glucose testing is the most lucrative test type segment registering the fastest growth during the forecast period.
- Country-wise, Argentina is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 8,094.6 million |
| Market revenue in 2030 | USD 13,969.2 million |
| Growth rate | 8.1% (CAGR from 2023 to 2030) |
| Largest segment | Glucose testing |
| Fastest growing segment | Glucose testing |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Glucose testing, A1C testing, Direct LDL testing, Lipid panel testing, Prostate-specific antigen testing, COVID-19 testing, BUN testing, Vitamin D testing, Thyroid-stimulating hormone testing, Serum Nicotine / Cotinine testing, High sensitivity CRP testing, Testosterone testing, ALT testing, Cortisol testing, Creatinine testing, AST testing, Other blood tests |
| Key market players worldwide | Abbott Laboratories, Roche Holding AG ADR, Bio-Rad Laboratories Inc, BioMerieux SA, Quest Diagnostics Inc, Biomerica Inc, Becton Dickinson & Co, Siemens Healthineers AG ADR, Danaher Corp, Trinity Biotech PLC ADR |
Other key industry trends
- In terms of revenue, Latin America region accounted for 8.2% of the global blood testing 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 36,926.3 million by 2030.
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Blood Testing Market Scope
Blood Testing Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America blood testing 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 blood testing market will help companies and investors design strategic landscapes.
Glucose testing was the largest segment with a revenue share of 14.47% in 2023. Horizon Databook has segmented the Latin America blood testing market based on glucose testing, a1c testing, direct ldl testing, lipid panel testing, prostate-specific antigen testing, covid-19 testing, bun testing, vitamin d testing, thyroid-stimulating hormone testing, serum nicotine / cotinine testing, high sensitivity crp testing, testosterone testing, alt testing, cortisol testing, creatinine testing, ast testing, other blood tests covering the revenue growth of each sub-segment from 2018 to 2030.
The market is expected to grow at a CAGR of 3.8% during the forecast period, owing to the presence of emerging economies. According to Population Reference Bureau, major non-communicable diseases were responsible for approximately 81% of deaths in 2017, which include cardiovascular diseases, cancer, and chronic respiratory diseases.
Obesity and smoking are the key factors contributing to the increasing prevalence of these diseases in this region. The number of premature deaths due to non-communicable diseases, especially among men, is high. As a consequence, a large number of testing procedures are being performed, thereby fueling the market growth.
Various Latin American countries provide a wide range of testing and diagnosis procedures at costeffective rates in this region. These are major factors expected to drive growth in demand for blood testing devices in the region.
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Our clientele includes a mix of blood testing market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America blood testing market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America blood testing market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America blood testing market size, by country, 2018-2030 (US$M)
Latin America Blood Testing Market Outlook Share, 2023 & 2030 (US$M)
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