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| Mexico In-Vitro Diagnostics Market |
The Mexico In-Vitro Diagnostics Market comprises devices and reagents used to perform tests on samples like blood, urine and tissue which are taken from human body. These tests are performed to detect diseases, find microbes and monitor drug therapy. Point-of-care diagnostics are gaining popularity as they provide quick and easy test results outside conventional laboratory setting during clinics or at home.
The global
Mexico In-Vitro Diagnostics Market is estimated to be valued at US$ 1056.8 Mn in 2023 and is expected
to exhibit a CAGR of 7.8% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The demand for point-of-care diagnostics is growing in Mexico due to advantages
like convenience, quick results and cost-effectiveness. These devices perform
diagnostic testing near the patient with results being available within
minutes. This allows clinicians to rapidly make treatment decisions for
patients. Hence, point-of-care testing is increasingly adopted in key areas
such as cardiac marker testing, infectious disease testing, cholesterol testing
and glucose testing. Growing prevalence of chronic and infectious diseases in
Mexico is driving the demand for point-of-care devices for quick diagnosis and
disease management. Key players are focusing on launching innovative diagnostic
platforms with portable design and capabilities to perform multiple tests using
small volume sample, thus further fueling the growth of Mexico in-vitro
diagnostics market.
Segment
Analysis
In the Mexico in-vitro diagnostics market, clinical chemistry sub-segment
dominates the overall market. It accounts for over 30% share of the total
market owing to the increasing prevalence of lifestyle diseases such as
diabetes and cardiovascular diseases in Mexico. Growing cases of such chronic
diseases propel the demand for clinical chemistry analyzers which are used to
analyze clinical chemistry parameters and diagnose conditions like diabetes,
kidney ailments, and cardiac disorders.
Key Takeaways
The global Mexico
In-Vitro Diagnostics Market Growth is expected to witness high growth
over the forecast period of 2023-2030. Regional analysis shows that Mexico
dominates the overall Latin America in-vitro diagnostics market. Factors such
as growing government expenditure on healthcare infrastructure, rising
healthcare awareness among people, and increasing penetration of health
insurance are fueling the growth of the Mexico IVD market.
Regional analysis
The Mexico IVD market is the fastest growing in Latin America region expanding
at a CAGR of over 7.8% during the forecast period. Mexico dominates the Latin
America IVD market accounting for more than 60% share owing to strong
distribution network of major players in the country and growing burden of
chronic diseases. Moreover, rising focus of government on modernization of
diagnostic services and increasing healthcare expenditure is also pushing the
growth of Mexico IVD market.
Key players
Key players
operating in the Mexico in-vitro diagnostics market are Danaher Corporation,
BioMerieux SA, Thermo Fisher Scientific Inc., Siemens Healthineers, Sysmex
Corporation, Abbott Laboratories, Bio-Rad Laboratories Inc., F. Hoffmann-La
Roche AG, and Becton, Dickinson and Company, among others.
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