Latin America In Vitro Diagnostics (IVD) Market Worth 8373.2 million USD by 2025 | Key Players - Roche Diagnostics, Abbott Laboratories, Inc., Hologic (Gen-Probe), Becton Dickinson (BD), Alere, Inc., Bio-Rad Laboratories.

Latin America In Vitro Diagnostics (IVD) Market Size and Growth rate:
The Latin America In Vitro Diagnostics (IVD) market was estimated at USD 5403.42 million in 2018 and is expected to reach USD 8373.2 million by 2025, registering a compound annual growth rate of 6.52% over the 2018-2025 forecast period.
In vitro diagnostics are medical devices used to examine biological samples such as blood, urine, feces, tissues and other body fluids. The tests can be performed in an independent laboratory and in a hospital laboratory.

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Drivers, Challenges and Opportunities:
Obesity, bad eating habits, sedentary lifestyles and high smoking and alcohol consumption are one of the factors that affect the high incidence of cancer, diabetes, cardiovascular disease and other illnesses, which are primarily driving the growth of this regional market. An increasing population of elderly people susceptible to illness requires regular diagnostic tests. This is one of the main engines of market growth. In addition, technological developments in terms of accuracy, portability and cost-effectiveness should accelerate the demand for IVD devices. Also, the growing demand for point-of-care devices (PoCs) is expected to stimulate market growth.

However, the growth of the market is limited due to the lack of experienced healthcare professionals and the awareness of the population. There is also strong regulation on new products and existing products and technologies that can limit the growth of the market to a certain extent.
Increasing demand for portable IVD devices is a key factor that will create the market opportunities. It is hoped that the introduction of improved technologies such as miniaturization of microfluidics, biochips and nano-biotechnology will increase opportunities for these products. These improvements have resulted in increased access to diagnostic tests at the point of care and should lead to quick and effective results.

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Geographic Insights of Latin America In Vitro Diagnostics (IVD) Market:
The risk of abdominal obesity, which causes cardiovascular and metabolic disorders, exceeds 48% in Brazil, Colombia, Mexico and Argentina compared to other countries. Brazil's share of revenues exceeded 40.0% in 2015 and ranked first among other countries due to the presence of a unified health infrastructure such as the SUS. Colombia is expected to witness a profitable CAGR during the forecast period.

Key market players Profiled in this Latin America In Vitro Diagnostics (IVD) Market Report are:
Roche Diagnostics, Abbott Laboratories, Inc., Hologic (Gen-Probe), Becton Dickinson (BD), Alere, Inc., Bio-Rad Laboratories, Qiagen NV, are some of the leading players in the IVD market in Latin America.

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