Latin America Point of Care Infectious Disease Market – Industry Trends and Forecast to 2029

Latin America Point of Care Infectious Disease Market, By Type (Products and Services),  Technology (Immunodiagnostics, Molecular Diagnostics, Dipsticks, Microfluidics and Others),  Application (Tropical Diseases, Sexually Transmitted Disease, Respiratory Disorders, Liver Disorders, Inflammatory Diseases, Hospital Acquired Infections (HAIS), GI Infections, CNS Infections, Cardiovascular Infection and Others), Availability (Over-the-Counter (OTC) Testing Kits and  Prescription-Based Testing Kits), End Users (Homecare Setting, Hospitals, Diagnostic Centres, Outpatient Healthcare Setting and Others),Distribution Channel (Direct Tenders and Retail Sales) Industry Trends and Forecast to 2029

Market Analysis and Size

Testing that may be done in close proximity to the patient and allows a medical decision to be made immediately away based on the results and monitoring is known as point-of-care testing. Doctors can examine reliable real-time, lab-quality diagnostic data in minutes rather than hours using point-of-care testing (POCT), also known as with-patient testing. It ensures that patients receive the most effective and efficient treatment available, whenever and wherever they require it.

Data Bridge Market Research analyses that the point of care infectious disease market which was USD 1.3 billion in 2021, would rocket up to USD 1.96 billion by 2029, and is expected to undergo a CAGR of 5.24% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation

Market Definition

Point-of-care tests are not as popular as central laboratory testing, because of their limited volume and high cost. This places additional load on the billing system, as POC testing require different codes. This could lead to billing errors by unskilled or freshly employed staff and data entry failure due to mismatched test codes in the data management system.

Point of Care Infectious Disease Market Dynamics

Drivers

• Introduction of cost-effective technology

Over the projection period, cost-effective technology for efficient and accurate disease screening, diagnosis, and monitoring, together with government initiatives to restrict disease transmission and improve healthcare facilities, is likely to be a key driver.

• Increase in geriatric population

Furthermore, an increase in the senior population, which is more susceptible to infections and other ailments, is predicted to raise demand for healthcare monitoring and diagnostic devices in home care and assisted living. In addition, the incidence of diabetes, cardiac disease, drug misuse, and STDs in developing nations and the occurrence of chronic and endemic diseases like Chagas in less developed regions is predicted to boost market potential.

• Rise in infectious diseases

As the prevalence of infectious diseases in Latin America has increased, numerous healthcare organisations and governments have implemented screening programmes and plans to control and eradicate these diseases. The Latin America point of care diagnostics market is predicted to be driven by gradually developing economies, increased spending power among the population, high disease prevalence, and increased medical knowledge over the forecast period.

Opportunities

The whole point of care infectious disease market is expected to rise in the future as healthcare and medical professionals need more automated point of care infectious disease techniques. Government initiatives and measures promoting the benefits of point-of-care infectious illness could help to increase the point-of-care infectious disease business in the coming years. The point of care infectious disease business is seeing increased demand as people become more aware of the necessity of diagnostic tests and as their disposable incomes rise.

Restraints/Challenges

• Stringent regulatory policies

The point of care testing market shows sluggish growth due to the stringent and time-consuming regulatory policies. With the expanding area of use and increased adoption in developing economies, regulators are placing a greater emphasis on point-of-care testing (POCT)   compliance, safety, and usability. Point-of-care testing are classed as class II medical devices by the US Food and Drug Administration. These devices provide a reasonable guarantee of the device's effectiveness and safety.

This point of care infectious disease market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the point of care infectious disease market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 impact on Point of Care Infectious Disease Market

The growing use of point-of-care tests that can quickly identify COVID-19, the point-of-care diagnostics market will rise significantly in 2022. Point-of-care testing has become an important diagnostic technique due to the necessity for quick diagnostic results. Rapid antigen testing kits that can be utilised efficiently in point-of-care settings are in high demand due to the rapidly increasing number of COVID-19 cases and the growing pressure on governments to enhance patient management. Different significant reasons projected to fuel the long-term growth of the point-of-care diagnostics market are the rising prevalence of other respiratory disorders around the world, the shift toward decentralised diagnostics, and enhanced access to point-of-care devices through online platforms.

Recent Development

• In March 2020, Lumiradx Limited announced a collaborative agreement with Chembio Diagnostics to develop a covid 19 virus point-of-care diagnostic test. This collaboration will aid the company in establishing a foothold in a new market.
• In February 2020, Nanopin and ThermoFisher cooperated to improve infectious illness detection technologies. This partnership will give Thermofisher a new platform to expand its infectious illness point-of-care market.

Latin America Point of Care Infectious Disease Market Scope

The point of care infectious disease market is segmented on the basis of type, technology, availability, application, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Products
• Services

Technology

• Immunodiagnostics
• Molecular Diagnostics
• Dipsticks
• Microfluidics
• Others

 Application

• Tropical Diseases
• Sexually Transmitted Disease
• Respiratory Disorders
• Liver Disorders
• Inflammatory Diseases
• Hospital Acquired Infections (HAIS)
• GI Infections
• CNS Infections
• Cardiovascular Infection
• Others

Availability

• Over-the-Counter (OTC) Testing Kits
• Prescription-Based Testing Kits

End Users

• Homecare Setting
• Hospitals
• Diagnostic Centres
• Outpatient Healthcare Setting
• Others

Distribution Channel

• Direct Tenders
• Retail Sales

Point of Care Infectious Disease Market Regional Analysis/Insights

The point of care infectious disease market is analysed and market size insights and trends are provided by country, type, technology, availability, application, distribution channel and end-user as referenced above.

The countries covered in the point of care infectious disease market report are Brazil, Argentina and Rest of South America as part of South America.

Brazil is dominating in the region due to high focus of government towards improvement of population health. The high prevalence of infectious diseases poses difficulties to authorities in achieving the goal of a healthy population.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Point of Care Infectious Disease Market Share Analysis

The point of care infectious disease market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to point of care infectious disease market.

Some of the major players operating in the point of care infectious disease market are:

• Abbott (U.S)
• F. Hoffmann-La Roche Ltd (Switzerland)
• BD (U.S)
• Siemens Healthcare Private Limited (Germany)
• Bio-Rad Laboratories, Inc. (U.S)
• Danaher (U.S)
• Sekisui Diagnostics (U.S)
• Trinity Biotech (Ireland)
• bioMérieux (France)
• EKF Diagnostics (Germany)
• AccuBioTech Co., Ltd. (China)
• Instrumentation Laboratory (U.S)
• Beckman Coulter, Inc. (U.S)
• PTS Diagnostics (U.S)
• Nova Biomedical (U.S)
• Chembio Diagnostics, Inc. (U.S)
• Quidel Corporation (U.S)
• Sienco, Inc (U.S)