The Latin America, Middle East and Africa Point of Care Molecular Diagnostics Market would witness market growth of 13.6% CAGR during the forecast period (2023-2030).
The status of medical services, particularly STD treatment, is being improved across this area via collaboration between several governments and significant healthcare institutions. To improve the regional situation of STD cases 2029, governments have developed strategies, including STD prevention, detection, and early diagnosis. Therefore, individuals without formal laboratory training may also do POC testing. Point-of-care testing can potentially change the prevention and management of STIs by stopping transmission and averting the consequences of untreated infections by allowing quick detection and early treatment of infections.
One of the main factors driving this market is the rising incidence of cardiovascular illnesses, diabetes, cancer, and infectious disorders. Factors including the regional increase in smoking, bad diets, and rising obesity rates cause the increased prevalence of cardiovascular illnesses worldwide. The need for POC MDx tests has grown due to unmet medical requirements relating to cardiovascular conditions and the development in patient knowledge of different breakthroughs in disease diagnostics.
In the African continent, the frequency of STDs or STIs is on the rise, causing several health issues and major difficulties. Sub-Saharan Africa has the most significant yearly STD cases compared to other areas. The World Health Organization estimates that each year, Africa experiences 3.5 million instances of syphilis, 16 million cases of gonorrhea, 15 million cases of chlamydial disease, and 30 million cases of trichomoniasis. As a result, the point-of-care molecular testing market in LAMEA is expanding due to the increasing use of POC testing for STDs.
The Brazil market dominated the LAMEA Point of Care Molecular Diagnostics Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $70.9 million by 2030. The Argentina market is poised to grow at a CAGR of 14.2% during (2023 - 2030). Additionally, The UAE market would display a CAGR of 13.3% during (2023 - 2030).
Based on Product & Service, the market is segmented into Assays & Kits, Instruments & Analyzers and Software & Services. Based on End User, the market is segmented into Physicians Offices, Hospitals & ICUs, Research Institutes and Others. Based on by Technology, the market is segmented into RT-PCR, Isothermal Nucleic Acid Amplification Technology (INAAT) and Others. Based on Application, the market is segmented into Respiratory Diseases, Hospital-acquired Infections, Sexually Transmitted Diseases, Cancer, Hepatitis, Gastrointestinal Disorders and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Point of Care Molecular Diagnostics Market is Projected to reach USD 4.1 Billion by 2030, at a CAGR of 10.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Bayer AG, F. Hoffmann-La Roche Ltd., Qiagen N.V., Danaher Corporation, Bio-Rad Laboratories, Inc., BioMerieux S.A., Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., and Nova Biomedical Corporation.
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