Latin America Point-of-care Molecular Diagnostics Market Size & Outlook
Latin America point-of-care molecular diagnostics market, 2018-2030 (US$M)
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Latin America point-of-care molecular diagnostics market highlights
- The Latin America point-of-care molecular diagnostics market generated a revenue of USD 214.5 million in 2023.
- The market is expected to grow at a CAGR of 3.6% from 2024 to 2030.
- In terms of segment, infectious diseases was the largest revenue generating application in 2023.
- Oncology is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 214.5 million |
| Market revenue in 2030 | USD 274.0 million |
| Growth rate | 3.6% (CAGR from 2023 to 2030) |
| Largest segment | Infectious diseases |
| Fastest growing segment | Oncology |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Oncology, Prenatal Testing, Endocrinology, Other Applications, Hematology, Infectious Diseases |
| Key market players worldwide | Roche, Abbott Laboratories, Qiagen NV, Bayer AG, Nova Biomedical, Danaher Corp, Nipro Corp, Bio-Rad Laboratories Inc, Agilent Technologies Inc, BioMerieux SA, OraSure Technologies Inc, Abaxis |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.1% of the global point-of-care molecular diagnostics 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 1,609.3 million by 2030.
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Point-of-Care Molecular Diagnostics Market Scope
Point-of-Care Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America point-of-care 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 point-of-care molecular diagnostics market will help companies and investors design strategic landscapes.
Infectious diseases was the largest segment with a revenue share of 93.47% in 2023. Horizon Databook has segmented the Latin America point-of-care molecular diagnostics market based on oncology, prenatal testing, endocrinology, other applications, hematology, infectious diseases covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America includes Brazil, Mexico, and Argentina. Technological advancements in the Latin American healthcare industry are expected to contribute to market growth. Increasing government expenditure on 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 POC molecular diagnostics market in Latin America. Other factors propelling the market growth include increasing healthcare spending in developing countries and rising regional medical tourism.
For instance, in June 2020, 10 million Polymerase Chain Reaction (PCR) kits were procured in the Americas (including South American countries) through the Pan American Health Organization (PAHO) strategic fund. PAHO is a cooperation aimed at pooling essential strategic health and medical supplies to support the region's capacity to detect & confirm COVID-19 cases.
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Target buyers of Latin America point-of-care molecular diagnostics market databook
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Our clientele includes a mix of point-of-care molecular diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America point-of-care molecular diagnostics market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America point-of-care molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America point-of-care molecular diagnostics market size, by country, 2018-2030 (US$M)
Latin America Point-of-Care Molecular Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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