Latin America Molecular Diagnostics Market Size & Outlook
Latin America molecular diagnostics market, 2018-2030 (US$M)
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Latin America molecular diagnostics market highlights
- The Latin America molecular diagnostics market generated a revenue of USD 2,168.6 million in 2023.
- The market is expected to grow at a CAGR of -9.4% from 2024 to 2030.
- In terms of segment, outpatient facilities was the largest revenue generating end use in 2023.
- Home Care is the most lucrative end use 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 2,168.6 million |
| Market revenue in 2030 | USD 1,082.9 million |
| Growth rate | -9.4% (CAGR from 2023 to 2030) |
| Largest segment | Outpatient facilities |
| Fastest growing segment | Home Care |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hospitals, Outpatient Facilities, Home Care |
| Key market players worldwide | Becton Dickinson & Co, BioMerieux SA, Bio-Rad Laboratories Inc, Abbott Laboratories, Agilent Technologies Inc, Danaher Corp, Hologic Inc, Illumina Inc, Grifols SA Ordinary Shares - Class A, Qiagen NV, Roche Holding AG, Siemens Healthineers AG ADR, Sysmex Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.4% of the global molecular diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,082.9 million by 2030.
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Molecular Diagnostics Market Scope
Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America molecular diagnostics 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 molecular diagnostics market will help companies and investors design strategic landscapes.
Outpatient facilities was the largest segment with a revenue share of 47.47% in 2023. Horizon Databook has segmented the Latin America molecular diagnostics market based on hospitals, outpatient facilities, home care covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America includes Brazil, Mexico, Chile, Peru, Argentina, and Colombia. Technological advancements in the Latin America healthcare industry are expected to contribute to market growth. Increasing government expenditure on Research & Development (R&D), the rising focus of multinational medical device companies in the molecular diagnostics sector, and growing patient awareness about infectious diseases are expected to drive market growth during the forecast period.
The rising prevalence of chronic diseases and the growing geriatric population are other factors driving the molecular diagnostics market in Latin America. Other factors propelling the growth include increasing healthcare spending in developing countries and rising regional medical tourism.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America molecular diagnostics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America molecular diagnostics market size, by country, 2018-2030 (US$M)
Latin America Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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