USD 2.72 billion
Latin America PoC Diagnostic Market Size, Share, Growth Analysis, By Product(Hospitals Bedside, Physician Office Lab, Urgent Care and Retail Clinics, Home and Self testing), By Region - Industry Forecast 2025-2032
Report ID:
SQMIR35H2247 |
Region:
Regional |
Published Date: February, 2024
Pages:
260
|Tables:
37
|Figures:
64
Latin America PoC Diagnostic Market Insights
Latin America PoC Diagnostic Market size was valued at USD 2.98 Billion in 2023 and is poised to grow from USD 3.27 Billion in 2024 to USD 6.86 Billion by 2032, growing at a CAGR of 9.68% during the forecast period (2025-2032).
Point of care diagnostics include glucose monitoring kits, pregnancy and fertility testing kits, infectious diseases testing kits, urinalysis testing kits, hematology testing kits, cardiometabolic monitoring kits, and other similar testing devices. These types of diagnostics are used in hospitals, professional clinics, and at home. With both acute and chronic diseases occurring all over the world, there is an increasing need for high-quality diagnostic kits for point of care.
For instance, according to a report published in the Journal of Hepatology in 2019, between 257 and 291 million people will have chronic hepatitis B virus infection and are at risk for cirrhosis and hepatocellular carcinoma. The prevalence of HBV-related cirrhosis varies worldwide. One third of HCC-related deaths worldwide are linked to HBV. Taking into account the data presented above, patient demand for diagnostic products is likely to rise in the coming years, increasing the growth of the point-of-care diagnostics market from 2022 to 2028. The fact that diagnostics kits' technological advancements have reduced the need for human error is recognized as a significant market driver. This is anticipated to increase the use of point-of-care diagnostics kits in developing and low-income nations.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
nasal and oropharyngeal swabs
Fastest Growth
blood
Growth Rate
9.68% CAGR
Latin America PoC Diagnostics Market 2021-2028 ($ Bn)
Country Share for Latin America Region- 2021 (%)
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Latin America PoC Diagnostic Market Segmental Analysis
The Latin America PoC diagnostics market is segmented on the basis of Product, Sample, end user, and region. By Product, the market is segmented into Blood Glucose Monitoring, Infectious disease testing, Cardiometabolic disease testing, Pregnancy and fertility testing, Hematology testing, and others. By sample, the market is segmented into Blood, Nasal and Oropharyngeal Swabs, Urine, and others. By end user, it is segmented into Hospitals Bedside, Physician Office Lab, Urgent Care and Retail Clinics, Home and Self testing.
Latin America PoC Diagnostic Market Analysis by Product type
Based on the product, The blood glucose monitoring segment held a significant point of care diagnostics market share in 2021. This segment is also anticipated to grow at the highest CAGR. The greater sales of diabetes quick diagnosis kits are to blame for the high market share. These can be purchased without a prescription over-the-counter and assist patients in self-testing and monitoring their blood glucose levels. The kits are so highly favored because they are easily accessible, which boosts the product's sales. For instance, EKF Diagnostics announced in May 2020 the availability of STAT-Site WB for diabetes management.The test is made to be used at point-of-care diagnostic facilities like doctors' offices, diagnostic laboratories, and clinics, where results can be obtained in as little as ten minutes. It is anticipated that the infectious disease testing market will expand at a significant rate. The sudden rise in COVID-19 cases was the reason for the segment's expansion.
Latin America PoC Diagnostic Market Analysis by sample
In 2021, the nasal and oropharyngeal swabs category held a sizable portion of the market. The rise in infectious disorders brought on by respiratory viruses is to blame for the expansion of this market. As renal function diseases are becoming more common, the urine market is anticipated to expand at a considerable CAGR.
Based on the sample, The blood segment held the maximum market share in 2021 and is expected to grow at a lucrative CAGR. Blood tests can assist doctors in accurately diagnosing patients for a number of illnesses, such as HIV/AIDS, coronary artery disease, and the health of organs like the thyroid, liver, and kidneys. As a result, the market growth has been boosted by the use of blood tests to identify a variety of disorders and their effectiveness in doing so.
Latin America PoC Diagnostics Market By sample 2021 (%)
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Latin America PoC Diagnostic Market Regional Insights
Brazil was the largest point of care diagnostics market in Latin America. This was due to the growing economy's increased spending power and government efforts to control and prevent the prevalence of chronic and endemic diseases. In addition, healthcare organizations like WHO and PAHO's early disease diagnosis initiatives and awareness programs account for the majority of the region's market revenue. Due to the rapid increase in the aging population and high prevalence of chronic, endemic, and infectious diseases like Chagas, as well as infectious diseases like HIC, syphilis, and RSV, Chile is expected to be the Latin American market for POC diagnostics with the fastest growth. The Latin American point of care diagnostics market is anticipated to be driven by high unmet diagnostic needs, rising per capita income, rising medical awareness, and efforts to improve healthcare infrastructure.
Latin America PoC Diagnostics Market By Geography, 2021-2028
- Largest
- Fastest
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Latin America PoC Diagnostic Market Dynamics
Latin America PoC Diagnostic Market Drivers
Increasing Need to Administer Chronic Diseases will Drive Market Growth
- Around the world, a significant rise in the prevalence of chronic diseases like diabetes, cardiovascular problems, and infectious diseases has been observed. One of the primary drivers of the anticipated rise in demand for point-of-care diagnostics is the high prevalence rate of such conditions. Due to the need for accurate and speedy treatment decisions, point-of-care testing has become essential for patient-centered healthcare. Patients now have easy access to these diagnostics thanks to the transition from centralized point-of-care testing to decentralized testing for chronic, infectious, and chronic conditions.
Latin America PoC Diagnostic Market Restraints
Slow Rate of Medical Approvals might Hinder Market Growth
- The lack of global accuracy of rapid point-of-care diagnostic tests has been limited by the high cost of virus clearing technologies, resulting in fewer FDA approvals for rapid tests and consequently limiting market expansion. In the field of point-of-care testing, there are a lot of pre-analytical errors. As a result, such circumstances may limit the introduction of new products, which would impede market expansion. For example, Siemens Healthcare issued a Class 2 Device Recall in August 2020 for its BGEM Test Card in-vitro diagnostic device, which was used to quantitatively test non anticoagulated arterial, venous, or capillary whole blood either in the laboratory or at the point of care.This was because the glucose results on card lot 01-20095-10 were not consistent. A delay in diagnosing hyperglycemia or an unnecessary treatment for hypoglycemia could result from this.
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Latin America PoC Diagnostic Market Competitive Landscape
The majority of these businesses have offices in major economies like Brazil, Mexico, and Chile, but they sell and supply products through distributors and subsidiaries in Latin American nations.
In addition, there is a lot of competition in the market and distribution network because other medical equipment distributors offer their products in different nations. More effective POC diagnostic testing devices are being developed and manufactured by rival companies with a focus on clinics, hospitals, assisted living facilities, and home healthcare. This is expected to increase demand for POC devices and propel the market's expansion.
Latin America PoC Diagnostic Market Top Players Company Profile
- Abbott Laboratories
-
Roche Diagnostics
-
Siemens Healthineers
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BD (Becton, Dickinson and Company)
-
bioMérieux SA
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QIAGEN N.V.
-
Hologic Inc.
-
-
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
Latin America PoC Diagnostic Key Market Trends
Need to Treat Diseases in Emerging Countries will Influence Market Growth
- The prevalence of chronic and endemic diseases like Chagas in less developed regions is expected to increase market potential, and the adoption of a sedentary lifestyle by the young and middle-aged population is estimated to contribute to the prevalence of diabetes, cardiac disease, drug abuse, and STDs in developing nations.
Latin America PoC Diagnostic Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our Latin America PoC Diagnostics Market analysis, Brazil was the largest point of care diagnostics market in Latin America. Based on the product, The blood glucose monitoring segment held a significant point of care diagnostics market share in 2021. Players in the market are investing in R&D activities to bolster their position in the market. Investing in product development and collaborations will bring lucrative opportunities for players in the PoC Diagnostics Market in Latin America.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 2.72 billion |
| Market size value in 2031 | USD 6.25 billion |
| Growth Rate | 9.68% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Latin America PoC Diagnostic Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Latin America PoC Diagnostic Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Latin America PoC Diagnostic Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Latin America PoC Diagnostic Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Latin America PoC Diagnostic Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Latin America PoC Diagnostic Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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