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In vitro diagnostics (IVD) are tests performed on samples, such as blood or tissue, which have been taken from the human body. IVD can detect diseases or other conditions, and can be used to monitor overall health to help treat, cure, or prevent diseases. In-vitro diagnostics play a key role in advanced healthcare, as they provide vital information about an individual or patient after a sequence of tests. IVD is used as a diagnostic tool by clinicians for faster diagnosis and to ensure timely treatment for patients. Moreover, in vitro diagnostics (IVD) include software, instruments, reagents used to evaluate specimens such as urine, blood, tissues, stool, and other bodily fluids obtained from the human body to diagnose infections and diseases.

Market Statistics:

The Mexico in-vitro diagnostics market was valued at US$ 909.4 Mn in 2021 and is forecast to reach a value of US$ 1,540.1 Mn by 2028 at a CAGR of 7.8% between 2022 and 2028.

Figure 1. Mexico In-Vitro Diagnostics Market Share (%), by Technique, 2021

Mexico In-Vitro Diagnostics  | Coherent Market Insights

Recent Developments:

In 2021, Bio-Rad Laboratories, Inc. announced the launch of the CFX Opus 96 Dx System and the CFX Opus 384 Dx System, real-time PCR detection systems that have been listed with the U.S. FDA for IVD testing and that meet CE-IVD requirement for IVD use in Europe.

In 2020, Biomerieux SA launched three complementary molecular biology tests in ARGENE and BIOFIRE ranges to detect active SARS-CoV-2 infections, as well as two serology tests in the VIDAS immunoassay range to confirm the presence of antibodies in patients.

Market Drivers:

  1. Increasing prevalence of cancer and autoimmune diseases is expected to propel the growth of the Mexico in-vitro diagnostics market during the forecast period. For instance, according to the data published by the World Health Organization (WHO) in 2020, prostate cancer deaths in Mexico reached 7,494 or 1.21% of total deaths. In 2020, breast cancer was the most deadly type of cancer among Mexican women, whereas prostate cancer caused the largest number of deaths among Mexican male patients.
  2. The outbreak of COVID-19 is expected to boost growth of the Mexico in-vitro diagnostics market during the forecast period. For instance, in May 2020, Co-Diagnostics Inc. announced that its Logix Smart Coronavirus COVID-19 test is approved for sale in Mexico by the Mexican Department of Epidemiology (InDRE) after the agency successfully concluded an evaluation of the test's sensitivity and specificity and its non-reactivity with other respiratory viruses.
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Mexico In-Vitro Diagnostics Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: US$ 909.4 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2028 CAGR: 7.8% 2028 Value Projection: US$ 1,792.8 Mn
Geographies covered:
  • Mexico

Segments covered:
  • By Technique: (Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics, Hematology, and Other Techniques)
  • By Product: (Instrument, Reagent, and Other Products)
  • By Usability: (Disposable IVD Devices and Reusable IVD Devices)
  • By Application: (Infectious Diseases, Cancer/Oncology, Cardiology, Autoimmune Disease, Diabetes Nephrology, and Other Applications)
  • By End User: (Diagnostic laboratories, Hospitals and Clinics, and Other End Users)
Companies covered:

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.

Growth Drivers:
  • The outbreak of COVID-19 (global pandemic)
  • Increasing prevalence of chronic and autoimmune disease
Restraints & Challenges:
  • Stringent regulatory policies
  • Poor reimbursement scenario

Figure 2. Mexico In-Vitro Diagnostics Market Share (%) in Terms of Value, by Product, 2021

Mexico In-Vitro Diagnostics  | Coherent Market Insights

Market Restraints:

  1. Stringent regulatory policies are expected hamper growth of the Mexico in-vitro diagnostics market. In Mexico, medical devices and In-Vitro Diagnostic (IVD) devices are governed by COFEPRIS, a division within the Mexican Ministry of Health (the Mexican Government).
  2. Poor reimbursement scenario is expected hinder growth of the Mexico in-vitro diagnostics market. Due to the lack of a stringent and universal reimbursement policy in the country, people hesitate to avail medical treatment facilities that are out of their budget.

Market Opportunities:

  1. Increasing prevalence of chronic and infectious diseases is expected to provide significant growth opportunities for players in the Mexico in-vitro diagnostics market. Mexico's healthy life expectancy at birth is estimated by the World Health Organization (WHO) at 68 years, which is nine years less than the total life expectancy for the country at birth. Despite the slight increase in healthy life expectancy, population is expected to face increasing chronic disease, disability, and morbidity due to lifestyle trends resulting in obesity and diabetes.
  2. Growing geriatric population is expected to offer lucrative growth opportunities for players in the Mexico in-vitro diagnostics market. For instance, according to the aarpinternational.org (AARP Mexico), Mexico's population age 65 and older is expected to grow by around 277% from 8.2 million in 2015 to over 30 million by 2050. Population ages 65 and above (% of total population) in Mexico was reported at 7.6181 % in 2020, according to the World Bank.

Market Trends/Key Takeaways:

  1. Increasing product launches in the region is expected to drive growth of the Mexico in-vitro diagnostics market during the forecast period. For instance, in June 2021, Bio-Rad Laboratories and Seegene Inc. collaborated for the clinical development and commercialization of infectious disease molecular diagnostic products.
  2. Market players are adopting various growth strategies, such as partnership or collaboration, is expected to drive growth of the Mexico in-vitro diagnostics market over the forecast period. For instance, in October 2020, PerkinElmer Inc. and BioMarin teamed up to enable diagnostic testing for rare diseases in Mexico.

Competitive Landscape:

  1. BioMerieux SA
  2. Danaher Corporation
  3. F. Hoffmann-La Roche AG
  4. Becton, Dickinson and Company
  5. Bio-Rad Laboratories Inc.
  6. Abbott Laboratories
  7. Sysmex Corporation
  8. Siemens Healthineers AG
  9. Thermo Fisher Scientific Inc.

Healthcare providers rely on a variety of tools to diagnose various diseases or conditions and guide treatment decisions. Among the most common and widely used are in vitro diagnostics (IVDs). IVD helps detect diseases or infections, and can be used to monitor overall health of the patient to help treat, cure, or prevent diseases. IVD is used as a diagnostic tool by clinicians for faster diagnosis and to ensure timely treatment for patients. IVD medical devices are tests performed on biological samples taken from the human body to determine overall health.

Market Dynamics:

Rising geriatric population and subsequent growth in the prevalence of chronic and infectious diseases is expected to boost the growth of the Mexico in-vitro diagnostics market during the forecast period. The number and proportion of people aged 65 years and older in the population is increasing. For instance, according to the AARP International (Mexico), Mexico's population age 65 and older is expected to grow by around 277% from 8.2 million in 2015 to reach over 30 million by 2050. Mexico's healthy life expectancy at birth is estimated by WHO at 68 years, which is nine years less than the total life expectancy for the country at birth. Despite the slight increase in healthy life expectancy, population is expected to face increasing chronic disease, disability, and morbidity due to lifestyle trends resulting in obesity and diabetes.

Key features of the study:

  • This report provides in-depth analysis of the Mexico in-vitro diagnostics market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2022–2028), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
  • It profiles key players in the Mexico in-vitro diagnostics market based on the following parameters, such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include BioMerieux SA, Thermo Fisher Scientific Inc., Siemens Healthineers, Sysmex Corporation, Abbott Laboratories, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, and Becton, Dickinson and Company, among others.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
  • Mexico in-vitro diagnostics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Mexico in-vitro diagnostics market.

Detailed Segmentation:

  • Mexico In vitro Diagnostics Market By Technique:
    • Clinical Chemistry
    • Molecular Diagnostics
    • Immuno Diagnostics
    • Hematology
    • Other Techniques
  • Mexico In vitro Diagnostics Market, By Product:
    • Instrument
    • Reagent
    • Other Products
  • Mexico In vitro Diagnostics Market, By Usability:
    • Disposable IVD Devices
    • Reusable IVD Devices
  • Mexico In vitro Diagnostics Market, By Application:
    • Infectious Diseases
    • Cancer/Oncology
    • Cardiology
    • Autoimmune Disease
    • Diabetes Nephrology
    • Other Applications
  • Mexico In vitro Diagnostics Market, By End User:
    • Diagnostic laboratories
    • Hospitals and Clinics
    • Other End Users

Frequently Asked Questions

The Mexico in-vitro diagnostics market size is estimated to be valued at US$ 980.0 Million in 2022 and is expected to exhibit a CAGR of 7.8% between 2022 and 2028.
The outbreak of COVID-19 and increasing prevalence of chronic and autoimmune disease are fueling the growth of the market.
The Immuno Diagnostics segment is the leading technique segment in the market.
Stringent regulatory policies and poor reimbursement scenario are the major factors restraining growth of the market.
Major players operating in the 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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