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Lamea IVD market forecast to 2023 examined in new market research report

Medical Market Research

LAMEA IVD Market By Product Type (Reagents, Instruments, And Software & Services), By Technique (Immunodiagnostics, Blood Testing, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, And Other IVD Techniques), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, And Other Indications), And By End Users are the medical diagnostic devices comprised of any reagent, calibrator, control material, kit, specimen receptacle, software, instrument, apparatus, equipment, or system used alone or in combination with other diagnostic devices, specifically designed for in vitro examination of specimens of human body.

Increase in incidences of chronic and infectious diseases such as tuberculosis, cancer, HIV and others drive the market. Furthermore, rapid expansion of government healthcare expenditure is anticipated to increase the demand of diagnosis, thereby fueling the market growth.

In addition, rise in awareness of personalized medicine and increase in awareness of preventive healthcare measures boost the market share.

However, stringent government regulations associated with the safety and efficacy of IVD products is expected to hinder the growth of the market during the forecast period. The emerging economies of the LAMEA regions offer lucrative growth opportunities to IVD during the forecast period.

The LAMEA IVD market accounted for $7,413 million in 2016, and is estimated to reach at $10,316 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023.

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The market is segmented on the basis of product type, techniques, application, end user, and country. By product type, the market is categorized into reagents, instruments, and software & services.

On the basis of techniques, it is divided into immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics, clinical chemistry, and other IVD techniques. Application segment covered in the study includes infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and other indications.

Based on end user, it is classified into hospitals, academic and medical schools, point of care testing, and others. By geography, it is analyzed across Latin America, Middle East, and Africa.

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  • The study provides an in-depth analysis of the LAMEA IVD market, with current trends and future estimations to elucidate the investment pockets.
  • Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
  • The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
  • Extensive analysis of different segments facilitates to understand various products of the market.
  • Key players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.

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