In-vitro diagnostics (IVD) refers to diagnostics performed on samples such as blood, urine and tissue that have been taken from the human body. IVD products analyze samples to detect infections like COVID-19, screen for diseases, monitor drug therapy and assess organ function. Major products include instruments, reagents and software. IVD instruments include chemistry analyzers, hematology analyzers, immunoassay analyzers, clinical microscopy systems and others. Reagents are used to conduct various biological and serological tests.

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 Dynamics:
The Mexico In-Vitro Diagnostics Market is expected to witness high growth owing to the rising prevalence of chronic and infectious diseases. As per statistics, chronic diseases account for over 70% of deaths annually in Mexico. According to the Society of Epidemiological Research, cardiovascular diseases, diabetes and cancer are some of the major chronic conditions impacting Mexico. Additionally, infectious diseases such as COVID-19 have surged the demand for IVD products for diagnosis. This growing disease burden is anticipated to drive the need for effective diagnosis using instruments and reagents, thus fueling the market growth over the forecast period. Furthermore, technological advancements in IVD techniques like point-of-care testing have made diagnostics affordable and accessible. Miniaturization of assays and shifting towards automated testing promises higher productivity and efficiency. These factors are estimated to boost uptake of advanced IVD products in the Mexico.

SWOT Analysis
Strength: The Mexico In-Vitro Diagnostics market has a large customer base due to its growing population. Increased awareness about early disease diagnosis in the country presents an opportunity for market growth. The government is taking initiatives to improve healthcare infrastructure which is promoting the adoption of advanced diagnostics technologies.

Weakness: High capital investments required for purchasing technologically advanced diagnostic devices can restrain small players in the market. Lack of proper reimbursement policies makes diagnostic tests unaffordable for common people.

Opportunity: Rising geriatric population susceptible to chronic diseases will drive the demand for diagnostic testing. Favorable government policies to enhance healthcare accessibility in rural areas can help expand the customer base.

Threats: Stringent regulatory framework for approval of diagnostic devices increases compliance costs for market players. Intense competition from global players impacts domestic players.


Key Takeaways

The Mexico In-Vitro Diagnostics Market Growth is expected to witness high growth driven by increasing investments to strengthen healthcare infrastructure and widespread adoption of point-of-care testing. Regional analysis related content comprises Regional analysis related content

The Mexico region dominates the overall in-vitro diagnostics market in the country with a share of over 70% due to the presence of majority hospitals and clinical diagnostic laboratories catering to a large patient pool. States like Mexico City and Jalisco have emerged as highly lucrative markets on account of growing elderly population susceptible to chronic disorders. The northern region is expected to showcase the fastest growth rate during the forecast period accredited to rising healthcare expenditure and ongoing upgrading of healthcare facilities in urban pockets.

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. These players dominate the market owing to their robust product portfolios, widespread distribution networks, and adept marketing strategies to sustain their market position. Strategic partnerships and acquisitions remain key growth strategies adopted by these companies to expand their regional presence.

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