Latin America Molecular Diagnostics Market Size & Outlook
Latin America Molecular Diagnostics Market, 2018-2030 (US$M)
Global Market
Related Markets
Latin America molecular diagnostics market highlights
- The Latin America molecular diagnostics market generated a revenue of USD 1,188.6 million in 2024.
- The market is expected to grow at a CAGR of 6% from 2025 to 2030.
- In terms of segment, reagents was the largest revenue generating product in 2024.
- Reagents is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2025 to 2030.
Latin America data book summary
| Market revenue in 2024 | USD 1,188.6 million |
| Market revenue in 2030 | USD 1,718.7 million |
| Growth rate | 6% (CAGR from 2025 to 2030) |
| Largest segment | Reagents |
| Fastest growing segment | Reagents |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.6% of the global molecular diagnostics market in 2024.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 1,718.7 million by 2030.
Latin America includes Brazil, Chile, Peru, Argentina, and Colombia. Technological advancements in the Latin America healthcare industry are expected to contribute to market growth. Increasing government expenditure on Research & Development (R&D), the rising focus of multinational medical device companies in the molecular diagnostics sector and growing patient awareness about infectious diseases are expected to drive market growth during the forecast period.
The rising prevalence of chronic diseases and the growing geriatric population are other factors driving the molecular diagnostics market in Latin America. Other factors proposing the growth include increasing healthcare spending in developing countries and rising regional medical tourism.
For instance, in June 2020, 10 million Polymerase Chain Reaction (PCR) kits were procured in the Americas (including South American countries) through the Pan American Health Organization (PAHO) strategic fund.
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Publish Date: Jan 08, 2025
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Molecular Diagnostics Market Scope
Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Abbott Laboratories | View profile | 114,000 | 100 Abbott Park Road, Abbott Park, IL, United States, 60064-6400 | www.abbottinvestor.com |
| Becton Dickinson & Co | View profile | 73,000 | 1 Becton Drive, Franklin Lakes, NJ, United States, 07417-1880 | www.bd.com |
| BioMerieux SA | View profile | 13,982 | Marcy l’Etoile, Lyon, France, 69280 | www.biomerieux.com |
| Siemens Healthineers AG ADR | View profile | 71,400 | Siemensstr. 3, Forchheim, BY, Germany, 91301 | www.siemens-healthineers.com |
| Danaher Corp | View profile | 63,000 | 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC, United States, 20037-1701 | www.danaher.com |
| Illumina Inc | View profile | 9,300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | www.illumina.com |
| Agilent Technologies Inc | View profile | 17,700 | 5301 Stevens Creek Boulevard, Santa Clara, CA, United States, 95051 | www.agilent.com |
| Bio-Rad Laboratories Inc | View profile | 8,030 | 1000 Alfred Nobel Drive, Hercules, CA, United States, 94547 | www.bio-rad.com |
| Qiagen NV | View profile | 5,900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | www.qiagen.com |
| Hologic Inc | View profile | 6,990 | 250 Campus Drive, Marlborough, MA, United States, 01752 | www.hologic.com |
Latin America Molecular Diagnostics Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Molecular Diagnostics Market Outlook will help companies and investors design strategic landscapes.
Reagents was the largest segment with a revenue share of 72.58% in 2024.
Horizon Databook has segmented the Latin America molecular diagnostics market based on instruments, reagents covering the revenue growth of each sub-segment from 2018 to 2030.
Latin America includes Brazil, Chile, Peru, Argentina, and Colombia. Technological advancements in the Latin America healthcare industry are expected to contribute to market growth. Increasing government expenditure on Research & Development (R&D), the rising focus of multinational medical device companies in the molecular diagnostics sector and growing patient awareness about infectious diseases are expected to drive market growth during the forecast period.
The rising prevalence of chronic diseases and the growing geriatric population are other factors driving the molecular diagnostics market in Latin America. Other factors proposing the growth include increasing healthcare spending in developing countries and rising regional medical tourism.
For instance, in June 2020, 10 million Polymerase Chain Reaction (PCR) kits were procured in the Americas (including South American countries) through the Pan American Health Organization (PAHO) strategic fund.
- Latin America Molecular Diagnostics Market Product Outlook (Revenue, USD Million , 2018-2030)
- Instruments
- Reagents
- Others Product
- Latin America Molecular Diagnostics Market Test Location Outlook (Revenue, USD Million , 2018-2030)
- Point of care
- Self test or OTC
- Central laboratories
- Latin America Molecular Diagnostics Market Technology Outlook (Revenue, USD Million , 2018-2030)
- PCR
- ISH
- INAAT
- Chips and microarrays
- Mass spectrometry
- Sequencing
- TMA
- Others Technology
- Latin America Molecular Diagnostics Market Application Outlook (Revenue, USD Million , 2018-2030)
- Oncology
- Pharmacogenomics
- Infectious disease
- Genetic testing
- Neurological disease
- Cardiovascular disease
- Microbiology
- Others Application
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America Molecular Diagnostics Market Outlook, including forecasts for subscribers. This continent databook contains high-level insights into Latin America Molecular Diagnostics Market Outlook from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Latin America Molecular Diagnostics Market, 2018-2030 (US$M)
Latin America Product - Molecular Diagnostics Market Statistics, 2024 - 2030 (US$M)
