Dublin, Nov. 07, 2023 (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 Latin America point of care diagnostics Market size is expected to reach USD 5.9 billion, expanding at a CAGR of 7.3% by 2030.
Penetration of major key players in Latin American countries coupled with increased initiatives by government and academic institutes towards retaining the spread of chronic diseases is expected to fuel market growth through to 2024. 
Furthermore, the increasing density of the geriatric population in these countries, along with the immigration of retired individuals from Northern and Central America to the Latin American and Caribbean region in search of assisted living healthcare and home health care options, is expected to drive growth in the coming years.
Additionally, the prevalence of chronic, endemic, and infectious diseases is high in the Latin American and Caribbean region, especially among the elderly population. This is expected to further boost the market potential through 2024.
Infectious diseases testing kits accounted for the largest share of revenue in 2022. Latin America has a high prevalence of infectious diseases, including HIV/AIDS, malaria, dengue fever, and Zika virus.
Hb1Ac point-of-care (POC) tests are the second-highest contributors to market share in terms of revenue. This segment is expected to grow at a faster CAGR than glucose testing due to its reliability and the rapidly increasing patient base requiring diabetes management.
The high prevalence of endemic infectious diseases, along with the potential for the emergence of new diseases like Ebola, makes infectious disease testing another key segment in the Latin America point-of-care market.
The growing prevalence of various infectious diseases in lower-income countries such as Haiti, Bolivia, and Guatemala, as well as the rapid spread of sexually transmitted diseases (STDs) in developing economies like Brazil, Mexico, and Chile, is expected to drive the demand for POC diagnostics in the region.
Clinics are estimated to dominate the Latin America POC diagnostics industry in terms of end-users. This is due to increased healthcare awareness among the population and initiatives by international healthcare organizations and governments to control the spread of diseases in the region.
Brazil leads the Latin America point-of-care diagnostics market and accounted for the largest share of revenue, at 40.8%, in 2022. The presence of healthcare reforms like the Unified Health System (SUS) is expected to fuel market growth in Brazil. Additionally, the high prevalence of infections and the rapid increase in incidences of diabetes, cancer, and cardiac disorders in the country are anticipated to drive demand for POC diagnostics.
Mexico is expected to grow at a significant CAGR of 7.8% over the forecast period due to its large population base, providing a substantial market potential for POC diagnostics.
Overall, strategies employed by industry participants to maintain a competitive advantage, along with government initiatives to bring together manufacturers, healthcare service providers, and research institutes, are expected to contribute to market growth in the Latin America and Caribbean region.
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 |
Company Profiles
- Abbott Laboratories
- Alere Inc (Abbott)
- Roche Diagnostics
- Bio-Rad Laboratories
- Danaher Corporation
- bioMerieux
- Agilent Technologies, Inc.
- OraSure Technologies Inc
- Siemens Healthineers
- Abaxis Inc.
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Latin America Point Of Care Diagnostics Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Market Dynamics
3.3.1. Market driver analysis
3.3.2. Market restraint analysis
3.4. Latin America Point Of Care Diagnostics Market Analysis Tools
3.4.1. Industry Analysis - Porter's
3.4.2. PESTEL Analysis
Chapter 4. Latin America Point Of Care Diagnostics: Product Estimates & Trend Analysis
4.1. Latin America Point Of Care Diagnostics Market: Key Takeaways
4.2. Latin America Point Of Care Diagnostics Market: Movement & Market Share Analysis, 2022 & 2030
4.3. Glucose Testing
4.4. Hb1Ac Testing
4.5. Coagulation
4.6. Fertility/Pregnancy
4.7. Infectious Diseases
4.8. Cardiac Markers
4.9. Thyroid Stimulating Hormone
4.10. Hematology
4.11. Primary Care Systems
4.12. Decentralized Clinical Chemistry
4.13. Feces
4.14. Lipid Testing
4.15. Cancer Marker
4.16. Blood Gas/Electrolytes
4.17. Ambulatory Chemistry
4.18. Drug Abuse Testing
4.19. Autoimmune Disease
4.20. Urinalysis/Nephrology
Chapter 5. Latin America Point Of Care Diagnostics: End-use Estimates & Trend Analysis
5.1. Latin America Point Of Care Diagnostics Market: Key Takeaways
5.2. Latin America Point Of Care Diagnostics Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Clinics
5.4. Hospitals
5.5. Home
5.6. Assisted Living Healthcare Facilities
5.7. Laboratory
Chapter 6. Latin America Point Of Care Diagnostics Market: Country Estimates & Trend Analysis
6.1. Country Outlook
6.2. Latin America Point Of Care Diagnostics Market by Country: Key Takeaways
6.3. Latin America
6.3.1. Market estimates and forecasts, 2018 - 2030 (Revenue, USD Million)
6.3.2. Brazil
6.3.3. Mexico
6.3.4. Argentina
6.3.5. Rest of LA
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Market Participant Categorization
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/hn4ioc
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