Mexico In-Vitro Diagnostics Market

Mexico In-Vitro Diagnostics Market Overview:

The Mexico in-vitro diagnostics market size reached USD 2.04 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 3.47 Billion by 2032, exhibiting a growth rate (CAGR) of 5.70% during 2024-2032. There are various factors that are driving the market, which include the rising geriatric population, increasing focus on health and wellness due to the high prevalence of several chronic diseases, favorable government initiatives, and improving healthcare infrastructure.

Mexico In-Vitro Diagnostics Market Trends:

Increasing Geriatric Population

Mexico’s aging population is experiencing an increase in chronic diseases. Older adults require regular monitoring and management of severe conditions, which is catalyzing the demand for diagnostic tests. IVD technologies play a crucial role in early disease detection, ongoing monitoring, and personalized treatment plans. To address the needs of an aging population, there is a push to expand and enhance healthcare facilities across Mexico. This expansion includes upgrading diagnostic labs and integrating new IVD technologies. In addition, the increasing number of healthcare facilities and diagnostic centers is bolstering the market growth. The elderly population often requires more sophisticated and accurate diagnostic tests because of the complexity of age-related conditions. Advancements in IVD technology like molecular diagnostics and point-of-care testing are increasingly being adopted to meet these needs. As per AARP International, Mexico’s population aged 65 and older is projected to reach around 30 million by 2050. 

Rising Focus on Health and Wellness Due to High Prevalence of Diseases

The increasing focus on health and wellness on account of the high prevalence of chronic diseases like diabetes and cancer among individuals is impelling the market growth. Mexico is experiencing a notable rise in the incidence of chronic conditions such as diabetes, cardiovascular diseases, and cancer, along with infectious diseases like influenza. IVD solutions offer accurate and timely disease detection, making them critical in managing and monitoring these conditions. Moreover, the rising awareness among the population about the importance of regular health check-ups and early disease detection is contributing to the market growth. People are increasingly becoming health conscious and are adopting diagnostic tests and screenings. They are undertaking preventive healthcare measures to maintain their enhanced health and overall well-being. According to the research report of the IMARC Group, the Mexico health and wellness market size is anticipated to exhibit a CAGR of 4.23% during 2024-2032.

Mexico In-Vitro Diagnostics Market News:

• 12 December 2023: Thermo Fisher Scientific introduced new sample preparation solutions to help streamline and automate respiratory diagnostic testing. The new Thermo Scientific KingFisher Apex Dx, an automated nucleic acid purification instrument, and Applied Biosystems MagMAX Dx Viral/Pathogen NA Isolation Kit for the purification of viral and bacterial pathogens from respiratory biological specimens and help improve preanalytical workflows for clinical laboratories. They jointly provide an in-vitro diagnostic (IVD) and in-vitro diagnostic regulation (IVD-R) approved automated sample preparation solutions.
• 20 July 2023: Siemens Healthineers Atellica in-vitro diagnostics portfolio, the Atellica CI Analyzer, for immunoassay and clinical chemistry testing, received the Food and Drug Administration (FDA) clearance and is available in many of the world’s major markets. 

Mexico In-Vitro Diagnostics Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on test type, product, usability, application, and end user.

Test Type Insights:

• Clinical Chemistry
• Molecular Diagnostics
• Immunodiagnostics
• Hematology
• Others
   

The report has provided a detailed breakup and analysis of the market based on the test type. This includes clinical chemistry, molecular diagnostics, immunodiagnostics, hematology, and others.

Product Insights:

• Reagents and Kits
• Instruments
   

A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes reagents and kits and instruments.

Usability Insights:

• Disposable IVD Devices
• Reusable IVD Devices
   

The report has provided a detailed breakup and analysis of the market based on the usability. This includes disposable IVD devices and reusable IVD devices.

Application Insights:

• Infectious Disease
• Diabetes
• Cancer/Oncology
• Cardiology
• Autoimmune Disease
• Nephrology
• Others
   

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes infectious disease, diabetes, cancer/oncology, cardiology, autoimmune disease, nephrology, and others.

End User Insights:

• Hospitals Laboratories
• Clinical Laboratories
• Point-of-care Testing Centers
• Academic Institutes
• Patients
• Others
   

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals laboratories, clinical laboratories, point-of-care testing centers, academic institutes, patients, and others.

Regional Insights:

• Northern States
• Central States
• Southern States
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern States, Central States, and Southern States.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Mexico In-Vitro Diagnostics Market Report Coverage:

Key Questions Answered in This Report:

• How has the Mexico in-vitro diagnostics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Mexico in-vitro diagnostics market?
• What is the breakup of the Mexico in-vitro diagnostics market on the basis of test type?
• What is the breakup of the Mexico in-vitro diagnostics market on the basis of product?
• What is the breakup of the Mexico in-vitro diagnostics market on the basis of usability?
• What is the breakup of the Mexico in-vitro diagnostics market on the basis of application?
• What is the breakup of the Mexico in-vitro diagnostics market on the basis of end user?
• What are the various stages in the value chain of the Mexico in-vitro diagnostics market? 
• What are the key driving factors and challenges in the Mexico in-vitro diagnostics?
• What is the structure of the Mexico in-vitro diagnostics market and who are the key players?
• What is the degree of competition in the Mexico in-vitro diagnostics market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Mexico in-vitro diagnostics market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Mexico in-vitro diagnostics market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Mexico in-vitro diagnostics industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.