Latin America in Vitro Diagnostics (IVD) Market 2024 The latin america IVD market is expected to 2024

Latin America In Vitro Diagnostics (IVD) Market is expected to
reach over USD 5.1 billion by 2024: Radiant Insights, Inc
The latin america IVD market is expected to reach over USD 5.1 billion by 2024, according to a new
report by Grand View Research, Inc. The Latin America IVD market is expected to grow at a significant
CAGR till 2024 owing to the rising prevalence of target disorders, aging population, and the presence of
favorable government initiatives for early disease diagnosis. Other factors that are anticipated to boost the
growth include the introduction of technologically advanced instruments and the increasing R&D
initiatives for the development of disease-specific kits.
Regular testing for diabetes, cardiovascular, cancer, and sexually transmitted diseases are necessary for
the timely treatments, further avoiding the risk of fatal health complications. The availability of tests for
home and near patient testing is estimated to further enhance the usage rates of these devices. From
November 2015, the Anvisa, which is a regulatory body for medical devices in Brazil, has started
allowing the registration for HIV self-testing kits.
Read Complete Report With TOC @ http://www.radiantinsights.com/research/latin-america-invitro-diagnostics-ivd-market
The increasing adoption point of care devices coupled with the increasing awareness among the
healthcare professionals regarding the early diagnosis of various diseases has provided a boost to the
Latin IVD market. The rising epidemic of communicable diseases in the southernpart of Latin America,
the growing need for rapid and accurate diagnostics, and the changing healthcare infrastructure scenario
are some of the key drivers of the Latin IVD market.
Further key findings from the study suggest:
The instrument segment is one of the most important segments of in vitro diagnostics. The presence of
highly automated analyzers and the availability of over the counter products are some of the factors
responsible for its significant share.
The Molecular diagnostics segment is anticipated to be the fastest growing technology over the decade.
Molecular diagnostics is a transformative area of diagnostics. The continuous innovation in technology
helps the physicians for critical decision making

The infectious disease segment held the largest share in 2015 over 24% owing to the presence of
favorable government initiatives in association with the WHO to curb communicable diseases.
The home care segment is estimated to witness a significant growth over the forecast period. The high
number of R&D initiatives undertaken by key competitors for the development of portable IVD devices
with improved sensitivity and user-friendliness is a key factor attributing towards its growth.