Meticulous Research® has published a report titled “Latin America Molecular Diagnostics Market by Offering (Reagents, Kits, Systems, Software, Services), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (HIV, Influenza, HPV, Oncology), End User – Forecast to 2031,” forecasting the Latin America molecular diagnostics market to reach $2.50 billion by 2031, with a CAGR of 6.3% from 2024 to 2031. This growth is attributed to factors such as the increasing global geriatric population, the rising prevalence of communicable and noncommunicable diseases, advancements in molecular diagnostics technology, and higher healthcare expenditures. Opportunities for market expansion include the growing scope in emerging economies, a focus on companion diagnostics, and the rising popularity of direct-to-consumer (DTC) testing. However, challenges such as a shortage of skilled professionals, unfavorable regulatory frameworks, and high costs of molecular diagnostic tests may hinder market growth. The market is segmented by offering (kits and reagents, instruments, software, and services), test type (laboratory and point-of-care tests), technology (including PCR, ISH, INAAT, microarrays, and sequencing), application (covering infectious diseases, oncology, genetic testing, and more), and end user (hospitals, diagnostic laboratories, and research institutes), while also assessing industry competitors and regional and country-level market dynamics.
