Assays and Kits Segment has the Largest Share of Product & Services in the South & Central America Point-of-Care Molecular Diagnostics Market during 2021–2028
According to our latest study on “South & Central America Point-of-Care Molecular Diagnostics Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product & Services, Technology, Application, and End User,” the market is projected to reach US$ 282.2 million by 2028 from US$ 123.4 million in 2021; it is expected to grow at a CAGR of 12.5% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising incidences of infectious diseases and growing demand for specific viral detection methods that consume less time for timely infection control. However, pricing pressures owing to reimbursement cuts is likely to hamper market growth.
Brazil has reported the highest number of COVID-19 cases in South and Central America, followed by Argentina, Peru, Chile, and Ecuador, among others. Governments of countries in this region have taken several actions to protect their citizens and contain the disease spread. The continuous spread of COVID-19 is driving the growth of the point-of-care diagnostics market. In addition, surge in demand for modernized diagnostic solutions for COVID-19 is also anticipated to have positive impact on the growth of South and Central America point-of-care molecular diagnostics market.
Based on product & services, the South & Central America Point-of-Care Molecular Diagnostics market is bifurcated into assays and kits, instruments, and services and software. In 2020, the assays and kits segment are estimated to account for the largest market share in the South & Central America point-of-care molecular diagnostics market. POC molecular diagnostic assays and kits are specially designed for point of care such as hospital critical care units, physician offices, outpatient clinics, and community health posts. POC molecular diagnostics assays and kits enable the early diagnosis of infectious diseases, cancer, and women’s health and sexual health conditions among others.
bioMérieux SA, F. Hoffmann-La Roche Ltd., Danaher Corporation, Enzo Biochem, Inc., Abbott, Meridian BioScience, Inc., Biocartis, Quidel Corporation, and Bio-Rad Laboratories, Inc. are among the leading companies in the South & Central America Point-of-Care Molecular Diagnostics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Point-of-Care Molecular Diagnostics market is segmented into product & services, technology, application, and end user. Based on product & services, the South & Central America Point-of-Care Molecular Diagnostics market is segmented into assays and kits, instruments, and services and software. Based on technology, the Point-of-Care Molecular Diagnostics market is segmented into PCR, isothermal nucleic acid amplification technology (INAAT), and other technologies. Based on application, the Point-of-Care Molecular Diagnostics market is segmented into infectious diseases, oncology, hematology, prenatal testing, endocrinology, and other applications. Based on end user, the Point-of-Care Molecular Diagnostics market is segmented into hospitals and clinics, diagnostic laboratories, research and academic institutes, and others. Geographically, the Point-of-Care Molecular Diagnostics market is segmented into South & Central America (Brazil, Argentina, Rest of South & Central America).
The report segments South & Central America Point-of-Care Molecular Diagnostics market as follows:
The South & Central America Point-of-Care Molecular Diagnostics market is segmented on the basis on ingredient type and sources. Based on ingredient type, the South & Central America Point-of-Care Molecular Diagnostics market is segmented into Probiotics and prebiotics, omega-3 fatty acids, vitamins, carotenoids and antioxidants, plant extracts, minerals, amino acids, proteins and peptides, and others. Based on sources, the market is segmented into plant animal, and microbial.
By Country
- UK
- Germany
- France
- Italy
- Spain
- Rest of South & Central America
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