The IVD Market in Latin America was valued at USD 9.1 billion in 2019 and is expected to reach 12.12 billion in 2024 at a Compound Annual Growth Rate (CAGR) of 5.9%.
Growing popularity towards various diagnostics and treatment procedures across the region is a major driving factor for the market growth. In-vitro diagnostics can easily detect any kind of disease from the samples taken from the patient where it is convenient and gives accurate results in less time. The aforementioned factor is also a cause for the market to grow tremendously in the Asia Pacific. Increasing disposable income in urban areas is also leveling up the growth rate of the in-vitro diagnostics market in Latin America. People are more aware of personalized medicine which is gearing up the demand of this market.
However, people in rural areas are less aware of these devices and this is restricting the growth rate of the market. Fluctuations in the productivity rate of the devices are also one of the factors hindering the demand of the in-vitro diagnostics market in Latin America. This equipment requires huge amounts for installation and maintenance where it is difficult for small scale enterprises. This remains a big challenging factor for market developers. Lack of standardization is also declining the growth rate of the market. Frequent changes in the economic strategies are impeding the demand of the market in Latin America.
Growth opportunities for the market lie in the emergence of advanced technologies in the medical sector. The development of innovative IVD products in research centers with different techniques to improve healthcare services is elevating the growth rate of the market in Latin America. Changes in lifestyle and food habits are also boosting up the demand of this market. Growing awareness towards an early diagnosis to have quality treatment procedures is expanding the size of the market. The adoption of automated devices in laboratories and growing demand for point of care testing devices are promoting the demand of the in-vitro diagnostics market in Latin America.
This research report segmented and sub-segmented into the following categories:
Leading companies in the market
Most of the promising companies operating in the Latin American IVD Market profiled in this report are Abbott Laborat, Ortho Clinical Diagnostics, Inc., Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostic, Beckman Coulter Inc., Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation & Thermo Fisher Scientific, Inc.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Product
5.1.1 Instruments
5.1.2 Reagents and Kits
5.1.3 Software
5.2 By Technology
5.2.1 Clinical Chemistry
5.2.2 Hematology
5.2.3 Immunoassays
5.2.4 Coagulation and Hemostasis
5.2.5 Molecular Diagnostics
5.2.6 Microbiology
5.2.7 Other IVD technologies
5.3 By Application
5.3.1 Diabetes
5.3.2 Infectious Diseases
5.3.3 Oncology/Cancer
5.3.4 Cardiology
5.3.5 Nephrology
5.3.6 Autoimmune Diseases
5.3.7 Drug Testing
5.3.8 HIV
6.1 Introduction
6.2 Argentina
6.3 Brazil
6.4 Mexico
6.5 Rest of Latin America
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1 Abbott Laboratories
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Johnson and Johnson
8.3 Siemens Healthcare
8.4 Becton Dickinson
8.5 Roche Diagnostics
8.6 Beckman Coulter Inc.
8.7 Biomérieux
8.8 Ortho Clinical Diagnostics, Inc.
8.9 Bio-Rad Laboratories, Inc.
8.10 Danaher Corporation
8.11 Sysmex Corporation
8.12 Thermo Fisher Scientific, Inc.
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
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Aug 2019
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