South America Point of Care Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product, Prescription Mode, and End User

Home Care Segment is Expected to be Fastest Growing During Forecast Period for SAM Region

According to a new market research study on “SAM Point of Care Diagnostics Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Product, Prescription Mode, and End-user” is expected to reach US$ 2,973.02 million by 2028 from US$ 1,406.72 million in 2021. The market is estimated to grow at a CAGR of 11.3% from 2021 to 2028. The report provides trends prevailing in the SAM point of care diagnostics market along with the drivers and restraints pertaining to the market growth. Product launches and product developments and increasing number of CLIA-waived POC tests are the major factor driving the growth of the SAM point of care diagnostics market. However, product recalls in market hinders the growth of SAM point of care diagnostics market.

In case of COVID-19, SAM is highly affected specially Brazil. SAM have been witnessing a growing number of COVID-19 cases since its outbreak. For instance, according to Worldometer, the number of cases has reached around 28.8 million with 0.7 million deaths reported in South America as of June 2021. The cases are increasing in Brazil, Argentina, Colombia. The COVID-19 is expected to result in the region's worst recession, causing a 9.1% contraction in regional GDP in 2020. This is expected to increase the number of poor up by 45 million and the extremely poor number by 28 million. The increasing incidence supports the growth of the market. The pharmaceutical & biotechnology invested in R&D for the new molecule entity. The pandemic as no impact on R&D process, due to pandemic R&D activity increase to find better medicines to cure the life-threatening disease. In addition, surge in demand for modernized diagnostic solutions for diagnosis of COVID-19 is also anticipated to have positive impact on the growth of SAM point of care diagnostics market by 2028.

The SAM point of care diagnostics market has been segmented into the product, prescription mode, End-user, and country. Based on product, market has been segmented into the glucose monitoring products, infectious disease testing products, cardiometabolic testing products, pregnancy and fertility testing products, coagulation testing products, tumor/cancer marker testing products, cholesterol testing products, urinalysis testing products, hematology testing products, and other poc products. The glucose monitoring products segment dominated the market in 2020 and is expected to be fastest growing during forecast period. The infectious disease testing products segment has been further bifurcated into the HIV testing, influenza testing, sexually transmitted disease (STD) testing, hepatitis C testing, healthcare-associated infection (HAI) testing, tropical disease testing, respiratory infection testing, and other infectious disease testing. Based on prescription mode, market has been segmented into the prescription-based testing and OTC testing. The prescription-based testing segment dominated the market in 2020 and is also expected to be fastest growing during forecast period. Based on End-user, market has been segmented into the professional diagnostic centers, home care, research laboratories, and others. The professional diagnostic centers segment dominated the market in 2020 and home care segment is expected to be fastest growing during forecast period. The professional diagnostic centers is further segmented into the hospitals, clinical laboratories, outpatient healthcare, and ambulatory care settings.

Abbott; BD; bioMerieux SA; BIO-RAD LABORATORIES INC.; Danaher; F. HOFFMANN-LA ROCHE LTD.; Johnson and Johnson Services, Inc.; Nova Biomedical; Polymer Technology Systems, Inc. (PTS); and Siemens AG are among the leading companies in the SAM point of care 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. For instance, in 2021, Siemens Healthineers Launches Rapid Antigen Test for the Detection of SARS-CoV-2. The CLINITEST Rapid COVID-19 Antigen Test helps identify infected individuals in 15 minutes so they can isolate sooner and avoid spreading COVID-19.

The report segments the SAM Point of Care Diagnostics Market as follows:

SAM Point of Care Diagnostics Market - By Product

• Glucose Monitoring Products
• Infectious Disease Testing Products
• HIV Testing
• Influenza Testing
• Sexually Transmitted Disease (STD) Testing
• Hepatitis C Testing
• Healthcare-Associated Infection (HAI) Testing
• Tropical Disease Testing
• Respiratory Infection Testing
• Other Infectious Disease Testing
• Cardiometabolic Testing Products
• Pregnancy and Fertility Testing Products
• Coagulation Testing Products
• Tumor/Cancer Marker Testing Products
• Cholesterol Testing Products
• Urinalysis Testing Products
• Hematology Testing Products
• Other POC Products

SAM Point of Care Diagnostics Market - By Prescription Mode

• Prescription-Based Testing
• OTC Testing

SAM Point of Care Diagnostics Market - By End-user

• Professional Diagnostic Centers
• Hospitals
• Clinical Laboratories
• Outpatient Healthcare
• Ambulatory Care Settings
• Home Care
• Research Laboratories
• Others

SAM Point of Care Diagnostics Market - By Country

• Brazil
• Argentina
• Rest of SAM

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• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the point of care diagnostics market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution