Latin America HbA1c Testing Market

The size of the Latin America HbA1c Testing market is anticipated to grow at 11.92% CAGR from 2023 to 2028. The Latin American market was estimated to be valued at USD 201.46 Million in 2023 and is expected to reach USD 353.77 Million by 2028.

Hemoglobin A1C (HbA1c) is a kind of hemoglobin that binds to glucose. The HbA1c test calculates the patient's average blood sugar level over the past two to three months. These tests are frequently combined with others to provide the best results. The increase in the number of diabetes research organizations and associations is one of the primary factors anticipated to boost the growth of the HbA1c testing market in the Latin American region. Furthermore, an increase in key player initiatives and an increase in the prevalence of diabetes are projected to contribute to the growth of the Latin American market over the forecast period.

The emergence of new therapeutic options, rising per capita disposable income, and the development of healthcare infrastructure are further predicted to fuel the market's growth rate during the forecast period. In addition, the rapid growth of medical tourism and increased demand for precise HbA1c level assessment are further projected to propel the market forward. Furthermore, the growing senior population and the effects of a sedentary lifestyle and a poor diet are also expected to propel the HbA1c testing market forward in this region.

However, high costs associated with the testing equipment are one of the prominent factors expected to hamper the growth rate of the Latin American market. Due to these high costs, these technologies are less commonly employed in developing countries; hence the market growth for hemoglobin A1c testing equipment is limited in this region. Furthermore, in Latin American countries, limited indications for HbA1c tests and strict reimbursement policies are further anticipated to hinder the market's growth. At the same time, rising accuracy concerns among the populace may further limit the market's growth.

This research report on the Latin America HbA1c testing market has been segmented and sub-segmented into the following categories.

By Technology:

• Ion-Exchange HPCL             
• Enzymatic Assay   
• Affinity Binding Chromatography  
• Turbidimetric Inhibition Immunoassay       
• Other       

By Type:

• Hand-Held Devices               
• Bench Top Devices   

By End User:

• Hospital    
• Home Care              
• Diagnostic laboratory          
• Research Institutions

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• Rest of Latin America

Geographically, the Latin American market is predicted to account for a significant share in the global market during the forecast period due to the increased efforts such as public awareness campaigns, research, and joint partnerships between public and commercial institutions in Mexico and Brazil. In addition, the rising use of improved diagnostic techniques and technologies and strategic activities such as collaborations and agreements by key players are accelerating market expansion in this region.

In 2022, Brazil dominated the Latin American region, and the same trend is expected to be continuing in this region throughout the forecast period. On the other hand, the Mexican market is anticipated to register a healthy CAGR during the forecast period.

KEY MARKET PLAYERS:

A few of the notable companies operating in the Latin American HbA1C testing market are Transasia Biomedicals ltd., Abbott Laboratories, Alere, Inc., Arkray, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Siemens Healthcare, and Trinity Biotech plc.