Mexico Features Second Largest IVD Market in Latin America: Report
ROCKVILLE, Md., Aug. 3, 2017 /PRNewswire/ -- Mexico's in vitro diagnostic (IVD) market is the second largest in Latin America, according to Kalorama Information. Mexico is the twelfth most populated country in the world with 123.2 million people residing in the country in 2016 and is the second largest country in Latin America in terms of population, accounting for 20% of the region's total. The country's IVD market is valued at $405 million for 2016. Mexico's health sector is a mix of both private and public structures with the private sector responsible for much of the laboratory business. The Mexican IVD market is considered moderate in its regulatory process and foreign investment opportunities. Kalorama examines the Mexican in vitro diagnostic opportunity in full in Mexico IVD Market Analysis.
The Mexican business environment for medical devices and equipment is favorable and relatively streamlined for U.S. and European participants. There is a growing demand for new technologies in the laboratory sector and, as government and private hospital budgets increase, the market is expected to see an increase in demand for high-tech equipment and consumables.
The health industry is witnessing strong growth with both imports and its growing medical export segments. Several domestic participants have acknowledged the participation in Mexico as a requirement for being a truly global business. Mexico's healthy life expectancy at birth is estimated by the World Health Organization (WHO) at 68 years, which is 9 years less than the total life expectancy for the country at birth. Despite the increase in life expectancy and slight increase in healthy life expectancy, the population is expected to face increasing chronic disease, disability and morbidity due to lifestyle trends resulting in obesity and diabetes.
According to Kalorama's report, a couple of key Mexico IVD market trends stand out:
- There is an upward trend in per capita spending on IVD in Mexico.
- Large private hospitals are increasing capital equipment budgets to accommodate more advanced testing technologies.
- The IVD market is supported by an increasing population and a more rapidly increasing aging population.
- Diabetes prevalence will support market opportunities for point-of-care (POC) diagnostics.
Kalorama Information's full study on the Mexican IVD market contains segmentation market analysis for various sectors of the Mexican IVD market, including POC, immunoassays, and clinical chemistry. The report identifies IVD market share leaders in the country. Mexico IVD Market Analysis can be found at: http://www.kaloramainformation.com/Mexico-IVD-11007016/.
About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. Reports can be purchased through Kalorama's website and are also available on www.marketresearch.com and www.profound.com.
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SOURCE Kalorama Information
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