Mexico In-vitro Diagnostics Market Grew at a CAGR of 17.1% During the Period 2018-2023, Driven by Need for Effective and Efficient Detection Technologies

Rising income levels and standards of living are expected to stimulate demand for 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. In-vitro diagnostics (IVDs) assist clinical and personal decision making, though these do not directly drive health outcomes. In-vitro diagnostics are valuable resources for disease prevention, identification and management, and influence a significant amount of clinical decision making.

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 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.

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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.

Leading solutions providers active in the domain include F. Hoffmann-La Roche Ltd. Danaher Corporation (U.S.), Siemens Healthineers AG (Germany), Becton, Dickinson and Company (U.S.), bioMérieux, Thermo Fisher Scientific Inc. (U.S.), QIAGEN N.V. (Netherlands), QIAGEN N.V., Wama Diagnóstica (Brazil), and Wiener Laboratorios SAIC (Argentina).

Key Findings of the Report:

• Mexico in-vitro diagnostics market is expected to be driven by rising disposable income and demand for better medical care.

• Advanced solutions by leading companies are likely to boost market growth.

Market Analysis by Product, Technology, Usability, and End Use:

• By product, the market is segmented into Reagents, Instruments, and Others.

• By technology, the market is classified into Clinical Chemistry, Molecular Diagnostics, Immuno Diagnostics, Haematology, and Others.

• By usability, the market is classified into Disposable IVD Devices and Reusable IVD Devices.

• By end use, the market is divided into Diagnostic Laboratories, Hospitals and Clinics, and Others.

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