The new report by Expert Market Research titled, ‘Latin America In-Vitro Diagnostics Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the Latin America in-vitro diagnostics market, assessing the market based on its segments like products and services, technology, applications, end-uses, and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Latin America In-Vitro Diagnostics Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 17.9%
The rising demand for vessel maintenance services for ferries and passenger ships in the region is predicted to increase as cruise tourism and export commerce expand in North America, particularly in the United States. In the forecast period, this is likely to be the main factor driving the North American market for vessel monitoring systems.
Companies all around the world have been compelled to improve their cargo vessels as a result of aggressive national goals, rapid technical advancements, and global agreements. As a result, the market for vessel monitoring systems is likely to grow. The vessel monitoring system is employed to assist law enforcement initiatives and prevent law violations.
The system also enables enforcement personnel to focus their time on regions with the highest possibility for significant violations, thereby propelling the development of Latin America in-vitro diagnostics market.
Latin America In-Vitro Diagnostics Industry Definition and Major Segments
Early warning indications and specific risk factors can be found using in-vitro diagnostics, offering up new opportunities for prevention and early intervention. With the use of some in-vitro diagnostics, people with chronic illnesses are able to self-monitor and manage their own symptoms outside of the constraints of the lab, hospital, or doctor’s office.
By product and services, the market is segmented into:
• Reagents and Kits
• Software and Services
Based on technology, the Latin America in-vitro diagnostics market is classified into:
- Infectious Diseases
- Enzyme-Linked Immunosorbent Assay (ELISA)
- Enzyme-Linked Immunospot (ELISPOT)
- Rapid Tests
- Radioimmunoassay (RIA)
- Western Blotting
- Clinical Chemistry
- Basic Metabolic Panels
- Liver Panels
- Renal Profiles
- Lipid Profiles
- Thyroid Function Panels
- Electrolyte Panels
- Speciality Chemical Tests
- Molecular Diagnostics
- Polymerize Chain Reaction (PCR)
- Isothermal Nucleic Acid Amplification Technology (INAAT)
- DNA Diagnostics
- Coagulation and Haemostasis
The in-vitro diagnostics find extensive applications in:
• Infectious Diseases
• Drug Testing/Pharmacogenomics
• Autoimmune Diseases
By end use, the market is segmented into:
• Hospital and Clinics
• Diagnostic Laboratories
• Point-Of-Care Testing
• Academic Institutes
On the basis of country, the the Latin America in-vitro diagnostics market is classified into:
Latin America In-Vitro Diagnostics Market Trends
The growing population, government insurance, patients that are newly insured, and modernised healthcare facilities are expected to propel the Latin America in-vitro diagnostics market growth. Rapid, convenient, and accurate research tools for the detection and quantification of targets, continuous development of new biomarkers, cost-benefit, and growing adoption of automated platforms for ELISA are expected to increase the adoption of the product.
The growing investment in developing nations is creating new opportunities for this market, along with a new range of condition-specific markers, sophisticated genomes, and proteomics-based assays. Such factors are propelling the growth of Latin America in-vitro diagnostics market.
Key Market Players
The major players in the market are:
- F. Hoffmann-La Roche Ltd
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- bioMérieux SA
- WAMA Diagnóstica
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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