The Mexico in-vitro diagnostics market was valued at USD 909.4 Mn in 2021 and is forecast to reach a value of USD 1,792.8 Mn by 2028 at a CAGR of 7.8% between 2022 and 2028. Instruments, reagents, and software are used in in vitro diagnostics (IVD) to analyse samples of human tissues, stool, urine, blood, and other bodily fluids in order to identify illnesses or infections. Diagnostic tests are carried out in vitro to ascertain a person’s general health state in order to assist treat, curing, or preventing illnesses. Different methods, including tissue diagnostics, immunodiagnostics, hematological, and molecular diagnostics, are used by various types of IVD equipment. Clinicians utilize it as a diagnostic tool to make diagnoses more quickly and guarantee that patients receive therapy on time.
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Market Drivers:
Over the course of the projected period, COVID-19 (the worldwide pandemic) is anticipated to accelerate the growth of the in-vitro diagnostics market in Mexico. The need for IVD tests for COVID-19 detection is rising along with the number of COVID-19 patients. A real-time PCR test for the qualitative detection of SARS-CoV-2 nucleic acid in nasal, Oropharyngeal swab samples, and nasopharyngeal, for instance, was developed by Becton, Dickinson, and Company (BD) in 2020 for the BD MAX System.
Market Opportunities:
Players in the Mexico in-vitro diagnostics market should have tremendous development potential due to the rising incidence of cancer and supportive governmental measures. The federal government’s organisation for cancer research, treatments, and training, Instituto Nacional de Cancerologia (Incan), among the 13 Mexican Institutes of Health, offers specialised cancer treatment to patients from across the nation, rich and poor, urban and rural, typically those with low income and no formal employment.
Market Restraints:
During the projected period, the expansion of the Mexico in-vitro diagnostics market is anticipated to be constrained by strict regulatory regulations and subpar reimbursement situations. For instance, COFEPRIS, a part of the Mexican Ministry of Health, is in charge of overseeing medical devices and In-Vitro Diagnostic (IVD) equipment in Mexico (the Mexican Government).
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Market Trends:
As point-of-care testing takes the place of centralised testing, the market for in-vitro diagnostics in Mexico is predicted to expand. In March 2020, Abbott launched the PCR-based RealTime SARS-CoV-2 assay for the diagnosis of COVID-19, and BioMedomics unveiled a point-of-care COVID-19 test that could also detect antibodies in blood for up to 15 minutes.
The growth of the elderly population in Mexico will likely lead to the development of the in-vitro diagnostics market there. According to aarpinternational.org, the number of Mexicans 65 and older is expected to rise from 8.2 million in 2015 to over 30 million by the year 2050, an increase of more than 277%. AARP in Mexico.
Competitive Landscape:
Dickinson and Company, Thermo Fisher Scientific Inc., Becton, Sysmex Corporation, Siemens Healthineers, Abbott Laboratories, F. Hoffmann-La Roche AG, and Bio-Rad Laboratories Inc., are a few of the major companies that compete in the in-vitro diagnostics industry in Mexico.
Recent Developments:
Cooperation between Bio-Rad Laboratories and Seegene Inc. for the clinical research and development of contagious diseases molecular diagnostic technologies was announced in June 2021.
In July 2020, DiaCarta Inc. obtained a patent for the XNA technology platform, which it used to create revolutionary liquid biopsy tests. The company just revealed that the QuantiVirus SARS-CoV-2 test has been given the all-clear to be sold in Mexico.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Mexico In-Vitro Diagnostics Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Mexico In-Vitro Diagnostics Industry Impact
Chapter 2 Global Mexico In-Vitro Diagnostics Competition by Types, Applications, and Top Regions and Countries
2.1 Global Mexico In-Vitro Diagnostics (Volume and Value) by Type
2.3 Global Mexico In-Vitro Diagnostics (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Mexico In-Vitro Diagnostics Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Mexico In-Vitro Diagnostics Market Analysis
Chapter 6 East Asia Mexico In-Vitro Diagnostics Market Analysis
Chapter 7 Europe Mexico In-Vitro Diagnostics Market Analysis
Chapter 8 South Asia Mexico In-Vitro Diagnostics Market Analysis
Chapter 9 Southeast Asia Mexico In-Vitro Diagnostics Market Analysis
Chapter 10 Middle East Mexico In-Vitro Diagnostics Market Analysis
Chapter 11 Africa Mexico In-Vitro Diagnostics Market Analysis
Chapter 12 Oceania Mexico In-Vitro Diagnostics Market Analysis
Chapter 13 South America Mexico In-Vitro Diagnostics Market Analysis
Chapter 14 Company Profiles and Key Figures in Mexico In-Vitro Diagnostics Business
Chapter 15 Global Mexico In-Vitro Diagnostics Market Forecast (2022-2028)
Chapter 16 Conclusions
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