Latin America PoC Diagnostics Market (2020-2027)

The Latin America region has noted significant epidemiological burden of infectious diseases like severe acute respiratory syndrome (SARS), Middle East respiratory syndrome (MERS), Ebola, chikungunya, avian flu, swine flu, Zika, and COVID-19 in the recent years. The increased prevalence of these diseases have led to a greater demand for PoC diagnostics technologies in the region. Furthermore, the growing geriatric population, increasing initiatives by manufacturers to widen their portfolio and enhance availability of advanced products in the Latin American region, shortage of skilled laboratory technicians, and increasing funding/investments for the development of PoC products are expected to propel the growth of the PoC diagnostics market in the region.

Increase in prevalence of various chronic and infectious diseases such as cardiac diseases, hepatitis, cancer, gastrointestinal, respiratory, and sexually transmitted diseases (STDs) play a vital role in the growth of the point of care diagnostics market. However, the recent outbreak of the coronavirus disease (COVID-19) has led to the rapid expansion of PoC diagnostics market in the region. In March 2020, Vale S.A., a Brazilian multinational corporation, purchased 5 million new coronavirus (COVID-19) rapid test kits to help the Brazilian government combat the spread of the illness in the country. Also, Hi Technologies, a Brazilian healthtech startup which specializes in laboratory exam equipment, is producing batches of rapid tests to diagnose COVID-19.

Amidst the ongoing pandemic, the overall adoption for point-of-care diagnostic test kits in the Latin American region has increased significantly, on the advice of WHO.

Currently, chronic infectious diseases caused by bacterial and viral pathogens are on the rise in Latin American countries due to various factors including changes in climatic conditions, increased human population growth and density in both urban and rural areas, increased human migration and mobility, and poor public health resources. The pathogenic agents that cause emerging and re-emerging diseases in Latin America include, bacterial pathogens (Salmonella enteritidis; Salmonella typhimurium, Salmonella typhi, Brucellaabortus and Klebsiella pneumonia) and viral pathogens (HPV; HIV; EBV; Zika and Chikungunya). According to the Joint United Nations Programme on HIV/AIDS (UNAIDS), as in 2017, there were approximately 1.8 million people living with HIV in the Latin America region. According to Brazil’s Health Ministry, a total of 4,680 flu cases were found in Brazil in the first seven months of 2018. Also, according to the Global Cancer Institute, the prevalence of cancer in LATAM has increased in past decades and is further expected to rise by 35% by 2030. This is mainly attributed to the demographic and epidemiological transition in the region, changes in lifestyle and dietary patterns, and surge in risk factors. Further, the recent outbreak of coronavirus (COVID -19) is affecting large population in the region, which has led to sudden growth in demand for related POC diagnostic tests in the region.

Owing to the rapid increase in the geriatric population, chronic diseases are becoming a major health problem in Latin America. As a result, the demand for diagnostic products and services is increasing in the region. For instance, in 2019, Alere Inc. (U.S.) launched its ID NOW point of care molecular platform in Brazil with tests for the rapid detection of respiratory diseases, such as influenza, bronchiolitis, and pharyngotonsillitis.

Apart from such developments from point-of-care diagnostics tests providers, conferences and workshops to create awareness among local medical device manufacturers and healthcare community are also supporting the growth of the PoC testing market in Latin America.