Latin America In Vitro Diagnostics Market Size & Outlook, 2025-2028
Latin America In Vitro Diagnostics Market Size
According to Straits Research analysis, the Latin America In Vitro Diagnostics (IVD) Market was valued at USD 2837.96 Million in 2024 and is projected to reach USD 3535.02 Million by 2028, expanding at a CAGR of 5.9% during the forecast period. The IVD market in Latin America is primarily driven by the healthcare sector, with key applications being disease detection and management. Rapidly growing areas such as gene editing and personalized medicine are also contributing to market growth. Innovations in molecular diagnosis, alongside chronic diseases such as diabetes and heart disease acting as catalysts, have boosted IVD demand. Opportunities lie in the advancement of micro-fluidics technology and the potential for export. As the region continues to navigate healthcare advancement, Latin America is establishing itself as an essential player in the IVD market.
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America In Vitro Diagnostics Market Highlights
- In 2024, Reagents and Kits emerged as the dominant Product and Services based on market size.
- Reagents and Kits is projected to register the fastest growth, positioning it as the most attractive Product and Services segment over the forecast horizon.
- Latin America held 3.42% share of the global in vitro diagnostics market size in 2024.
- United States is expected to remain the largest contributor to the global market by 2028.
- By 2028, Mexico is anticipated to record the highest growth in Latin America, with the market size expected to reach USD 4707 Million.
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Report Summary
| Report Scope | Details |
|---|---|
| Base Year for Study | 2024 |
| Study Period | 2020-2028 |
| Historical Period | 2020-2023 |
| Forecast Period | 2025-2028 |
| Market Size In 2024 | USD 2837.96 Million |
| Market Size In 2028 | USD 3535.02 Million |
| Largest segment | Reagents and Kits |
| Fastest segment | Reagents and Kits |
| Units | Revenue in USD Million |
| CAGR | 5.9% (2025-2028) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Latin America In Vitro Diagnostics Market Share By Product and Services
Segmentation Covered
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Latin America In Vitro Diagnostics Market By Country 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America In Vitro Diagnostics Market By Product and Services 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America In Vitro Diagnostics Market By Technology 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America In Vitro Diagnostics Market By Application 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
Latin America In Vitro Diagnostics Market By End User 2028
Source: Straits Research Analysis Company Publications, Primary Interviews.
