Latin America PoC Diagnostic Market to Surpass 6.25 Billion by 2030 Drives Due to High Prevalence of Infectious Diseases
SkyQuest projects that the Latin America PoC diagnostic market will attain a value of USD 6.25 billion by 2030, with a CAGR of 9.68% over the forecast period (2023-2030). The Latin America PoC diagnostic marketis facing a high prevalence of infectious diseases and the potential for new diseases such as Ebola further emphasizes the importance of infectious disease testing in the market. This market segment offers rapid diagnostic tests for various infectious diseases. These tests play a crucial role in early detection and prompt treatment, helping control disease spread and improves patient outcomes.
Westford,USA, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the prevalence of endemic infectious diseases is alarmingly high, necessitating the utmost attention to infectious disease testing within the Latin America PoC diagnostic market. Additionally, the constant risk of emerging diseases such as Ebola heightens the significance of testing segment.
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· Pages - 260
· Tables - 37
· Figures – 64
Latin America has witnessed a significant increase in the prevalence of chronic diseases including diabetes, cardiovascular problems and infectious diseases. This rise in disease burden has become a key driver for the expected surge in demand for Latin America PoC diagnostic market. POC diagnostics offer a convenient and efficient solution as these conditions require regular monitoring and timely diagnosis.
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*Prominent Players in Latin America PoC Diagnostic Market*
· Abbott Laboratories
· Roche Diagnostics
· Siemens Healthineers
· BD (Becton, Dickinson and Company)
· bioMérieux SA
· QIAGEN N.V.
· Hologic Inc.
· Danaher Corporation
· Alere Inc.
· bioLytical Laboratories
· Chembio Diagnostic Systems, Inc.
· CTK Biotech, Inc.
· Meridian Bioscience, Inc.
· Trinity Biotech
· Sysmex Corporation
· Sekisui Diagnostics LLC
· Nova Biomedical
· EKF Diagnostics Holdings plc
· Abacus Diagnostica Oy
· Fio Corporation
*Infectious Diseases Testing KitsSegment is Expected to Grow in the Market Due to the Rising Prevalence of Infectious Diseases*
The infectious diseases testing kits segment is projected to experience the highest growth in the Latin America PoC diagnosticmarket. The increasing prevalence of infectious diseases, such as influenza, necessitates rapid and accurate testing for timely treatment. This demand for efficient diagnostic solutions presents significant revenue growth opportunities for POC testing companies in Latin America.
The markets in Brazil emerged as the dominant player in the Latin America PoC diagnostic market, commanding a significant market share of over 35% in revenue. Furthermore, the presence of healthcare reforms, such as the unified health system (SUS) is expected to propel further the growth of the market in Brazil.
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*Home Care/Self-Testing Segment is Expected to Dominate in the Market Due to Rising Preference for At-Home Healthcare *
The home care/self-testing segment emerged as the dominant force in the Latin America PoC diagnosticmarket, capturing the largest share. This can be attributed to several factors driving the market. Firstly, there is a growing preference for at-home healthcare, as patients seek convenience and comfort while managing their health conditions.
Regional markets inChile is poised for potential growth in the Latin America PoC diagnostic marketowing to various factors. The emergence of the Zika virus and the prevalence of Chagas disease have raised concerns about the need for effective diagnostic solutions. In response, Chile has undertaken developments to enhance its healthcare infrastructure, control and reduce the incidence of target diseases and prevent the emergence of new diseases.
A comprehensive analysis of the major players in the Latin America PoC diagnostic market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
*Key Developments in Latin America PoC Diagnostic Market*
· A notable agreement was unveiled between Una Health and Siemens Healthineers, a leading MedTech company, to distribute the Atellica VTLi Patient-side Immunoassay Analyzer in primary care settings within the United Kingdom in 2022. Una Health, known for its expertise in manufacturing innovative point-of-care diagnostics, has been at the forefront of advancing patient care in healthcare settings.
· Roche introduced the cobas pulse system in 2022, representing their latest generation of connected point-of-care solutions for advanced blood glucose monitoring. This innovative system combines high performance with smartphone usability, offering enhanced convenience and accuracy for patients and healthcare providers.
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*Key Questions Answered in Latin America PoC Diagnostic Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence?
· In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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