USD 136.6 billion
Latin America In Vitro Diagnostics Market Size, Share, and Growth Analysis
Latin America In Vitro Diagnostics Market By Product (Instruments, Reagents), By Technology (Immunoassay, Hematology), By Application (Infectious diseases, Diabetes), By End Use (Hospitals, Laboratory), By Region - Industry Forecast 2025-2032
Report ID:
SQMIC35E2046 |
Region:
Country |
Published Date: January, 2025
Pages:
157
|Tables:
119
|Figures:
77
Format -
Latin America In Vitro Diagnostics Market Insights
Latin America In Vitro Diagnostics Market size was valued at USD 136.6 billion in 2023 and is poised to grow from USD 142.34 billion in 2024 to USD 197.82 billion by 2032, growing at a CAGR of 4.2% during the forecast period (2025-2032).
The increasing prevalence of various types of diseases, rising geriatric population, growing awareness for early disease diagnosis are the key factors for growth of Latin America in vitro diagnostics market. The growing base of the geriatric population with increased infections is estimated to provide significant growth during the forecast period in the Latin American market. initiatives are taken by the government of Latin America to increase awareness about in vitro diagnostics devices to recover diseases as soon as possible.
Various steps and innovations taken for the access of patients to new health technologies, fulfill the gap between the manufacturer and the end-user. These applications and management of the market needs excellent technical skill, so devices are employed in specialist medical facilities to perform diagnosis. In-vitro diagnostics is applied to various aspects in healthcare.
Latin America In Vitro Diagnostics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Oncology
Fastest Growth
Oncology
Growth Rate
4.2% CAGR
Latin America in vitro diagnostics market 2021-2028 ($ Bn)
Country Share for Latin america Region- 2021 (%)
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Latin America In Vitro Diagnostics Market Segments Analysis
Latin America In Vitro Diagnostics Market is segmented by Product, Technology, Application, End Use and region. Based on Product, the market is segmented into Instruments, Reagents and Software. Based on Technology, the market is segmented into Immunoassay, Hematology, Clinical chemistry, Molecular diagnostics, Coagulation, Microbiology and Others. Based on Application, the market is segmented into Infectious diseases, Diabetes, Oncology/Cancer, Cardiology, Nephrology, Autoimmune diseases, Drug testing and Others. Based on End Use, the market is segmented into Hospitals, Laboratory, Home care and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Latin America In Vitro Diagnostics Market Analysis by Technology
Clinical chemistry dominated the global market in 2021 by capturing over 37% of the market. The increasing incidences of diseases, diabetes, and anemia in Latin American countries are influencing the clinical chemistry segment.
The molecular diagnostics segment is the fastest growing segment during the forecast period. Due to the continuous introduction and upgradation in technology, which can provide high output results in lesser time with lesser manpower.
Latin America In Vitro Diagnostics Market Analysis by Application
Infectious diseases dominated the application segment in the Latin America in-vitro diagnostics market in 2021 with highest revenue generation. The market growth is due to lack of awareness about hygienic conditions in the Latin American countries. Due to infection of many diseases such as Dengue, hemorrhagic fever, and yellow fever. The Pan American Health Organization and the WHO are taking initiative to develop awareness of infectious diseases in this region.
Oncology is expected to grow over the forecast period, due to increasing cases of cancer. Government initiatives for early diagnosis, and rising awareness for increasing growth of oncology.
Latin America in Vitro Diagnostics Market Size By Application 2021-2028 (%)
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Latin America In Vitro Diagnostics Market Regional Insights
Brazil dominated the Latin America in vitro diagnostics market and held a revenue share of over 42.0% in 2021. It is due to increasing demand for unified healthcare infrastructure such as the SUS, growing focus of key market players for investment in this region. In addition, favorable reimbursement policies pertaining towards diagnostic tests.
Colombia is faster growing country in Latin America in vitro diagnostics market with high CAGR during the forecast period. Improvement in healthcare expenditure and increasing adoption of point-of-care devices in Latin America are increasing the demand for vitro diagnostics market.
Latin America in Vitro Diagnostics Market By Geography, 2021-2028
- Largest
- Fastest
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Latin America In Vitro Diagnostics Market Dynamics
Latin America In Vitro Diagnostics Market Drivers
Rising Incidence of Chronic Diseases
- The increasing rate of diseases, such as genetic, cardiovascular, and neurological diseases has increased demand for the diagnostics market. Early diagnosis, increasing population, and an increase in routine diagnosis, will drive the vitro diagnostics market growth in Latin America.
Latin America In Vitro Diagnostics Market Restraints
High Cost of in vitro Instruments
- The high cost of vitro instruments and expensive maintenance of these instruments are hindering the market growth in Latin America. In-vitro diagnostics instruments require skilled professionals for operating, hence further hampering the growth rate of devices.
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Latin America In Vitro Diagnostics Market Competitive Landscape
Latin America in vitro diagnostics market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Top Players in Latin America In Vitro Diagnostics Market
- Laboratorios Clínicos ROE (Argentina)
- DASA (Brazil)
- Fleury Medicina e Saude (Brazil)
- Grupo Labomed (Chile)
- Laboratorio Médico Polanco (Mexico)
- Wiener Laboratorios (Argentina)
- Abbott Laboratories (US)
- Roche Diagnostics (Switzerland)
- Siemens Healthineers (Germany)
- Thermo Fisher Scientific (US)
- Bio-Rad Laboratories (US)
- Sysmex Corporation (Japan)
- bioMerieux (France)
- Grifols (Spain)
- QuidelOrtho Corporation (US)
- Hologic Inc. (US)
- Labco (Brazil)
- Grupo Angeles Servicios de Salud (Mexico)
Latin America In Vitro Diagnostics Market Recent Developments
- In February 2022, Thermo Fisher Scientific Inc. launched the Renvo Rapid PCR Test to detect in air SARS CoV 2 pathogens.
- In March 2021, F. Hoffmann-La Roche Ltd launched Cobas pulse point-of-care blood glucose testing instrument.
- In March 2021, F. Hoffmann-La Roche Ltd. Merge with GenMark Diagnostics Inc. to test for a broad range of pathogens with one patient sample.
Latin America In Vitro Diagnostics Key Market Trends
- Personalized healthcare and advancements in genomics and proteomics are new emerging trends in Latin America in vitro diagnostics market. The increasing adoption of diagnostic devices and technology are increasing market growth in the Latin America region. Also increased need for daily diagnosis are boosting the demand for the market.
Latin America In Vitro Diagnostics Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Latin America in vitro diagnostics market analysis, Market is growing due to increasing Incidence of diseases in the Latin America region. Colombia is the fastest growing country in the Latin America region. The market is dominated by the clinical chemistry segment due to clinical treatment in hospital and home. High initial cost of instruments are hindering the market growth but the adoption of new technologies by customers have increased demand for the in vitro diagnostics market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 136.6 billion |
| Market size value in 2032 | USD 197.82 billion |
| Growth Rate | 4.2% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Latin America In Vitro Diagnostics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Latin America In Vitro Diagnostics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Latin America In Vitro Diagnostics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Latin America In Vitro Diagnostics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Latin America In Vitro Diagnostics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Latin America In Vitro Diagnostics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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