Mexico In-vitro Diagnostics Market Report and Forecast 2024-2032

Mexico In-vitro Diagnostics Market Outlook

The Mexico in-vitro diagnostics market grew a CAGR of 17.1% during the period 2018-2023. Analysis of human samples offers physicians with vital information to properly diagnose, treat, and prevent illnesses. Several leading companies offer in-vitro diagnostic (IVD) solutions that deliver rapid, sensitive results while minimizing cost and complexity. Modern in-vitro diagnostics (IVDs) enable better diagnosis for prevention and management of infectious and chronic diseases. In-vitro diagnostics can help identify early warning signs and individual risk factors, generating new openings for prevention and early intervention. Some in-vitro diagnostics range beyond the laboratory, hospital or doctor’s office, enabling patients with chronic illnesses to self-monitor and manage their own conditions. These factors are expected to drive market growth.

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Market Likely to be Driven by Advancements in Technology and Demand for Quality Medical Care

In-vitro diagnostic devices (IVDs) are considered medical devices in Mexico; COFEPRIS does not differentiate the regulation between medical devices and in-vitro diagnostic devices. In-vitro diagnostic devices (IVDs) generally comprise reactants, controls, calibrators and equipment or devices with the help of which diagnosis is carried out. It is noteworthy that IVDs could be part of a medical diagnosis equipment and sold with it, but in terms of regulatory treatment, these are considered independent medical devices. For example, a glucometer device is considered medical equipment while the test strips are considered IVDs.

In-vitro diagnostic products are classified as Class I or II, according to diagnosed parameters. In general, the Classification and Grouping Rules lay down that IVDs related to highly infectious or life-threatening illnesses must be considered class II medical devices; the rest are considered class I.

In developing countries, rising levels of income and standards of living are expected to stimulate a new, health-conscious populace seeking quality medical care, and drive the Mexico in-vitro diagnostics market. Key drivers are expected to be growing population, government insurance, patients that are newly insured, and modernized healthcare facilities.

Improved Ease of Use and Greater Reliability Likely to Boost Market Growth

In-vitro diagnostics (IVDs) are assays employed to conduct tests on clinical samples taken from the body, including blood, urine, or tissue. The assays seek to screen for disease, identify a medical condition, observe therapy usage, or prevent disease. Nearly seventy percent of medical decisions are made on the basis of data offered by in-vitro diagnostics (IVDs), thus, these have assumed critical importance in patient care. In recent years, IVDs have gained even more popularity due to their capability of saving lives through early identification of medical conditions. The use of IVDs to determine underlying genetic conditions in addition to diagnostic screening could prevent unnecessary suffering by a patient and decrease the scale of treatment required.

Improved ease-of-use and greater reliability has led to use of IVDs in home settings also. For example, users today easily perform tests to monitor blood glucose levels, determine urinary tract infections, monitor ovulation, and confirm pregnancy. Such tests enable individuals to manage their health and offer quick results to enable further medical action. These advantages are expected to drive the Mexico in-vitro diagnostics market.

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Mexico In-vitro Diagnostics Market Segmentation

By product, the market is segmented into:

• Reagents
• Instruments
• Others

By technology, the market is classified into:

• Clinical Chemistry
• Molecular Diagnostics
• Immuno Diagnostics
• Haematology
• Others

By usability, the market is classified into:

• Disposable IVD Devices
• Reusable IVD Devices

By end use, the market is divided into:

• Diagnostic Laboratories
• Hospitals and Clinics
• Others

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Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the Mexico in-vitro diagnostics market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• F Hoffmann-La Roche Ltd.
• Becton, Dickinson and Company
• Bio-Rad Laboratories Inc.
• Siemens Healthineer AG
• Abbott Laboratories
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report