Mexico In-Vitro Diagnostics Market by Type (Reagents, Instruments, and Software & Services), by Technique (Immunodiagnostics, Hematology, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, and Other IVD Techniques), by Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, and Others), and by End User (Stand Alone, Laboratory, Hospitals, Academics and Medical Schools, Point of Care Testing, and Other End Users) – Opportunity Analysis and Industry Forecast, 2024–2030
Industry: Healthcare | Publish Date: 06-Jul-2024 | No of Pages: 139 | No. of Tables: 104 | No. of Figures: 69 | Format: PDF | Report Code : N/A
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Mexico In-Vitro Diagnostics Market Overview
The Mexico In-Vitro Diagnostics Market size was valued at USD 3.71 billion in 2023, and is predicted to reach USD 5.12 billion by 2030, at a CAGR of 4.3% from 2024 to 2030. In-vitro diagnostics (IVD) refers to a wide range of medical tests conducted on samples of bodily fluids, tissues, or cells outside of the body to diagnose diseases, monitor therapy, and assess overall health conditions. These clinical diagnostic tests are performed in laboratory settings using various techniques and technologies, including immunoassays, molecular diagnostics, clinical chemistry, hematology, and microbiology.
IVD tests enable early detection of diseases, allowing for timely intervention and treatment initiation. By providing rapid and accurate results, these tests facilitate personalized medicine, guiding tailored treatment approaches based on individual patient characteristics. Also, immunoassay experiments provide valuable insights into biological systems, enabling scientists and researchers to make significant contributions to fields such as medicine, biotechnology, and pharmacology. They serve as essential tools for understanding fundamental biological processes and developing innovative solutions to address health challenges.
Rapid Growth of Mexico In-Vitro Diagnostics Market Fueled by High Healthcare Expenditure
The in-vitro diagnostics market in the country is rising rapidly due to significant healthcare expenditure. According to OECD, Mexico spends USD 1181 per capita on health which equates to 5.5% of the nation's GDP. Such notable investments not only improve the accessibility and quality of healthcare services but also accelerates the demand for innovative diagnostic technologies. This includes investments in advanced in-vitro diagnostics technologies, which play a crucial role in early disease detection, accurate diagnosis, and personalized treatment approaches.
Rising Cardiovascular Disease Incidence in Drives the Market Growth
The in-vitro diagnostics market growth in Mexico is expected to be driven by the rising incidence of cardiovascular diseases during the forecast period. According to data from the American College of Cardiology, in 2021, the Mexican government officially reported approximately 226,000 deaths attributed to cardiovascular diseases.
As cardiovascular diseases become more prevalent, there will be a greater demand for in-vitro diagnostics tests to accurately detect and monitor these conditions. These tests such as lipid profiles, cardiac biomarkers, and electrocardiography (ECG) play a crucial role in diagnosing cardiovascular diseases and assessing their severity. Early detection and diagnosis of cardiovascular diseases are essential for timely intervention and effective management, which further drives the Mexico IVD market demand.
High Research, Development, and Regulatory Approval Costs Hinder the Market Expansion
High costs associated with research, development, and regulatory approval are significant factors restraining the Mexico in-vitro diagnostics market expansion. Operating within this sector necessitates significant financial investment for companies to navigate the complex landscape of research and development.
This investment often encompasses extensive clinical trials, laboratory testing, and product refinement to guarantee accuracy and reliability. Additionally, obtaining regulatory approvals from agencies such as the FDA requires strict adherence to stringent standards, further compounding the financial burden. This financial constraint can discourage potential adopters from market expansion.
Introduction of Point-of-Care Testing (POCT) Solutions in IVD Creates Market Opportunities
Point-of-care testing (POCT) is poised to be a significant driver of the Mexico in-vitro diagnostics market growth in the forthcoming years. POCT serves as a valuable complement to laboratory testing, especially in situations where immediate results are crucial, such as emergency departments, ambulances, and remote healthcare settings.
With POCT technologies offering rapid tests for infectious diseases, cardiac markers, glucose monitoring, pregnancy testing, and more, healthcare providers can quickly assess patients' conditions and make timely treatment decisions.
By integrating POCT with traditional IVD, healthcare providers can enhance their diagnostic capabilities, delivering more efficient and patient-centered care. This integration streamlines workflows, allowing for faster diagnosis and treatment initiation, ultimately leading to improved patient outcomes.
Competitive Landscape
The promising players operating in the Mexico in-vitro diagnostics industry include Roche Holding AG, Abbott Laboratories, Thermo Fisher Scientific Inc, Danaher Corporation, Becton, Dickinson and Company, Siemens Healthineers AG, bioMérieux SA, Sysmex Corporation, QIAGEN N.V., and Bio-Rad Laboratories, Inc., and others.
Mexico In-Vitro Diagnostics Market Key Segments
By Type
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Reagents
-
Instruments
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Software & Services
By Technique
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Immunodiagnostics
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Enzyme-Linked Immunosorbent Assay (ELISA)
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Rapid Tests
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Chemiluminescence Immunoassay (CLIA)
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Enzyme-linked Immunosorbent spot (ELISpot)
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Radioimmunoassay (RIA)
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Western Blot
-
-
Hematology
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Molecular Diagnostics
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PCR
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INAAT
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Hybridization
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DNA diagnostics
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Microarray
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Other Molecular Diagnostics
-
-
Tissue Diagnostics
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Clinical Chemistry
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Basic Metabolic Panel
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Liver Panel
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Renal Profile
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Lipid Profile
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Thyroid Function Panel
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Electrolyte Panel
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Speciality Chemicals
-
-
Other IVD Techniques
By Application
-
Infectious Diseases
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Cancer
-
Cardiac Diseases
-
Immune System Disorders
-
Nephrological Diseases
-
Gastrointestinal Diseases
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Others
By End User
-
Stand Alone Laboratory
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Hospitals
-
Academics and Medical Schools
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Point of Care Testing
-
Other End Users
REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size Value in 2023 |
USD 3.71 billion |
|
Revenue Forecast in 2030 |
USD 5.12 billion |
|
Value Growth Rate |
CAGR of 4.3% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Companies Profiled |
10 |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
-
Roche Holding AG
-
Abbott Laboratories
-
Thermo Fisher Scientific Inc.
-
Danaher Corporation
-
Becton, Dickinson and Company
-
Siemens Healthineers AG
-
bioMérieux SA
-
Sysmex Corporation
-
QIAGEN N.V.
-
Bio-Rad Laboratories, Inc.
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