What is the global market size of the Latin America PoC Diagnostic Market?

Latin America PoC Diagnostic Market size was valued at USD 2.72 billion in 2021 and is poised to grow from USD 2.98 billion in 2022 to USD 6.25 billion by 2030, growing at a CAGR of 9.68% in the forecast period (2023-2030).

Latin America PoC Diagnostic Market Size

Latin America PoC Diagnostic Market Insights

Latin America PoC Diagnostic Market size was valued at USD 3.4 billion in 2023 and is poised to grow from USD 3.69 billion in 2024 to USD 7.03 billion by 2032, growing at a CAGR of 8.4% 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.

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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).

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. '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 '

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.

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.

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.