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Mexico In-Vitro Diagnostics Market Is Estimated To Witness High Growth Owing To Opportunity In Clinical Chemistry Diagnostics

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Pooja Khodke
Mexico In-Vitro Diagnostics Market Is Estimated To Witness High Growth Owing To Opportunity In Clinical Chemistry Diagnostics

In-vitro diagnostics include reagents, instruments, and systems used to perform medical tests that aid in diagnosis, treatment, and management of diseases. In-vitro diagnostics find applications in clinical chemistry diagnosis, therapeutic drug monitoring, infectious disease screening, molecular diagnostics, and micro-organism identification, among others. Increasing prevalence of lifestyle diseases such as diabetes, cancer, cardiovascular diseases, and rising awareness about timely diagnosis are fueling demand for in-vitro diagnostics in Mexico.

The global Mexico In-Vitro Diagnostics Market is estimated to be valued at US$ 555 Million in 2023 and is expected to exhibit a CAGR Of 22% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:


Clinical chemistry diagnostics is one of the major application areas of in-vitro diagnostics. It plays a crucial role in diagnosis and monitoring of various medical conditions such as diabetes, infectious diseases, hyperlipidemia, thyroid disorders, and various cancers. In Mexico, the prevalence of lifestyle diseases is increasing rapidly primarily due to shifting dietary preferences and sedentary lifestyle of the population. This has boosted demand for clinical chemistry diagnostics in the country. Rising awareness about advantages of early disease diagnosis is also fueling uptake of clinical chemistry diagnostic tests. The increasing application of clinical chemistry diagnostics in Mexico presents lucrative opportunities for players in the Mexico in-vitro diagnostics market over the forecast period.


Porter's AnalysisMexico In-Vitro Diagnostics Market


Threat of new entrants: High capital requirements act as a barrier to entry in this market. Established players have strong brand recognition and distribution networks.

Bargaining power of buyers: Individual consumers have low bargaining power due to availability of substitutes. However, large hospitals and laboratories can negotiate prices.

Bargaining power of suppliers: A few major players dominate the supply of diagnostic instruments, reagents and consumables leading to some dependence of manufacturers.

Threat of new substitutes: Threat is moderate as new pathogen identification and screening techniques can replace existing IVD tests.

Competitive rivalry: Intense due to presence of global and local players. Companies compete on technology, innovation and service.

SWOT Analysis

Strengths: Growing population and healthcare spending in Mexico are driving demand. Support from government initiatives to modernize healthcare infrastructure.

Weaknesses: Low diagnosis rates indicate limited diagnostic capabilities in some regions. Lack of skilled professionals in rural areas.

Opportunities: Untapped opportunities exist in point-of-care and molecular diagnostics segments. Growing geriatric population increases risk of chronic diseases.

Threats: Economic uncertainties and currency fluctuations impact sales. Stringent regulations increase compliance costs.

Key Takeaways


The Global Mexico In-Vitro Diagnostics Market Demand is expected to witness high growth over the forecast period supported by favourable government policies and increasing healthcare expenditure. The diagnostics segment dominates the market fueled by rising incidence of chronic and infectious diseases.

North America accounts for the largest regional market share due to well-developed healthcare system in countries like US and Canada.


Key players operating in the Mexico In-Vitro Diagnostics market are Roche Diagnostics, Abbott Laboratories, Siemens Healthineers and Becton, Dickinson and Company. The introduction of advanced technologies like immunoassay, molecular diagnostics, mass spectrometry and point of care testing offers huge growth potential in the upcoming years. Urgent need to improve diagnostic capabilities across different regions represents a significant opportunity in the future.


Get more insights on this topic :


https://www.ukwebwire.com/mexico-in-vitro-diagnostics-market-is-expected-to-be-flourished-by-rising-consumer-awareness-regarding-early-disease-detection/


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https://whotimes.com/unlocking-climate-solutions-understanding-global-carbon-credits/


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