Mexico In-Vitro Diagnostics Market
Tests known as in vitro diagnostics (IVD) are conducted on human body samples such as blood or tissue. In order to assist treat, cure, or prevent diseases, IVD can be used to diagnose diseases or other problems as well as to monitor general health. In-vitro diagnostics are essential to modern healthcare because they offer crucial data about a person or patient following a series of tests. Clinicians utilise IVD as a diagnostic tool to make diagnoses more quickly and guarantee that patients receive therapy on time. Additionally, in vitro diagnostics (IVD) refers to a set of tools, software, and materials used to analyse samples of blood, tissues, faeces, urine, and other bodily fluids taken from the human body in order to identify infections and disorders.
Market Statistics
Mexico’s in-vitro diagnostics market, which had a value of US$ 909.4 million in 2021, is anticipated to grow at a 7.8% CAGR from 2022 to 2028 to reach US$ 1,540.1 million.
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Recent Developments
Real-time PCR recognition machines that conform to CE-IVD requirements for IVD use in Europe and are authorised by the U.S. FDA for IVD testing include the CFX Opus 96 Dx System and the CFX Opus 384 Dx System. Bio-Rad Laboratories, Inc. announced the introduction for 2021.
In 2020, Biomerieux SA developed three more molecular biology tests in the ARSENE and BIO FIRE ranges to detect active SARS-CoV-2 infections, as well as two serology tests in the VIDAS immunoassay range to confirm the existence of antibodies in patients.
Market Drivers
During the anticipated period, the in-vitro diagnostics market in Mexico is anticipated to rise due to the rising incidence of autoimmune disorders and cancer. For instance, the World Health Organization (WHO) reported that 7,494 prostate cancer deaths, or 1.21% of all deaths, occurred in Mexico in 2020. Breast cancer was the most fatal cancer type for Mexican women in 2020, while prostate cancer claimed the most lives among Mexican men.
Throughout the projected period, it is anticipated that the COVID-19 epidemic would speed the growth of Mexico’s in-vitro diagnostics industry. For instance, the Mexican Department of Epidemiology (Indre) approved the sale of the Logix Smart Coronavirus COVID-19 test in Mexico in May 2020, according to a statement from Co-Diagnostics Inc. The announcement came after the agency had successfully assessed the test’s perceptiveness and particularity as well as its absence of reaction with other respiratory viruses.
Market Restraints
Mexico’s in-vitro diagnostics industry is anticipated to have slow expansion due to strict regulatory requirements. COFEPRIS, a section of the Mexican Ministry of Health, is responsible for overseeing medical devices and in-vitro diagnostic (IVD) equipment in Mexico (the Mexican Government).
The scenario for inadequate reimbursement is anticipated to impede the development of the in-vitro diagnostics industry in Mexico. People are reluctant to use medical care facilities that are out of their price range since the nation lacks a strict and uniform reimbursement mechanism.
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Market Opportunities
For industry participants in Mexico’s in-vitro diagnostics market, the rising prevalence of chronic and infectious illnesses is anticipated to present considerable potential prospects. The World Health Organization (WHO) estimates Mexico’s healthy life expectancy at birth to be 68 years, which is nine years fewer than the country’s overall life expectancy. The population will likely experience an increase in serious illness, handicap, and mortality rates due to lifestyle patterns that have led to obesity and diabetes, despite the small increase in healthy life expectancy.
Players in the Mexican in-vitro diagnostics market should profit from the population’s ageing trend’s favourable growth prospects. For instance, aarpinternational.org projects that by 2050, the population of Mexico 65 and over would have grown by more than 277%, from 8.2 million in 2015. (AARP Mexico). In 2020, 7.6181% of Mexico’s population was predicted to be 65 years of age or older, according to the World Bank.
Market Trends/Key Takeaways
During the forecast period, more product releases in the area are anticipated to fuel the growth of the Mexico in-vitro diagnostics market. For instance, Bio-Rad Laboratories and Seegene Inc. teamed together to develop and market infectious disease molecular diagnostic tools in June 2021.
The market for in-vitro diagnostics in Mexico is anticipated to expand throughout the course of the forecast period as a result of market players’ use of various growth strategies, such as partnership or cooperation. For instance, PerkinElmer Inc. and BioMarin collaborated in October 2020 to make diagnostic testing for uncommon illnesses possible in Mexico.
Competitive Landscape
Includes BioMerieux SA, Danaher Corporation, F. Hoffmann-La Roche AG, Becton, Dickinson, and Company, Bio-Rad Laboratories Inc., Abbott Laboratories, Sysmex Corporation, Siemens Healthineers AG, Thermo Fisher Scientific Inc.
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Table of Contents:
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Nasal Drug Delivery Mode, By Technique
- Market Nasal Drug Delivery Mode, By Product
- Market Nasal Drug Delivery Mode, By Usability
- Market Nasal Drug Delivery Mode, By Application
- Market Nasal Drug Delivery Mode, By End User
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Increase in adoption of self-administration practices
- Stringent rules and regulations
- Outbreak of COVID-19 (pandemic)
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product launch/Approvals
- PEST Analysis
- PORTER’s Analysis
- Merger and Acquisition Scenario
- Market Dynamics
- Mexico In-vitro Diagnostics Market – Impact of Coronavirus (COVID-19) Pandemic
- COVID-19 Epidemiology
- Supply Side and Demand Side Analysis
- Economic Impact
- Mexico In-vitro Diagnostics Market, By Technique, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Clinical Chemistry
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Molecular Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Immuno Diagnostics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Hematology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Other Techniques
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Introduction
- Mexico In-vitro Diagnostics Market, By Product, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Instrument
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Reagent
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Introduction
- Mexico In-vitro Diagnostics Market, By Usability, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Disposable IVD Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Reusable IVD Devices
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Introduction
- Mexico In-vitro Diagnostics Market, By Application, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Infectious Diseases
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Cancer/Oncology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Cardiology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Autoimmune Disease
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Diabetes Nephrology
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Introduction
- Mexico In-vitro Diagnostics Market, By End User, 2017-2028, (US$ Mn)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Y-o-Y Growth Analysis, 2018 – 2028
- Segment Trends
- Diagnostic laboratories
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Hospitals and Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2017 – 2018,(US$ Mn)
- Introduction
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