LAMEA IVD Market Trends, Growth Drivers, Business Opportunities, and Forecast 2023

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

PORTLAND, OREGON, US, December 21, 2021 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "LAMEA IVD Market by Product Type, Techniques, Application, and End Users: Opportunity Analysis and Industry Forecast, 2017-2023". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The LAMEA IVD market was valued at $7,413 million in 2016, and is projected to reach at $10,316 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. The immunodiagnostics segment accounted for more than two-ninths share of the total market in 2016.

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In vitro diagnostics (IVD) are medical devices and reagents used for examination of the body samples such as blood, tissue, and body fluids to detect diseases, disorders, and infections and identify suitable medical treatment. Rise in incidences of chronic and infectious diseases, constant technological developments to improve efficacy of IVD and increase in government healthcare expenditure in LAMEA region drive the market growth.

However, stringent government regulations related to the safety and efficacy of the IVD and unfavorable reimbursement policies are expected to restrain the market growth during the forecast period. Ongoing R&D associated with the IVD and increased disposable income of consumers provides huge growth potential for IVD market.

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Latin America accounted for more than one-third share in 2016, and is expected to dominate the market throughout the forecast period and is attributed to increase in incidence of chronic and infectious diseases such as tuberculosis, diabetes, cancer, and others. In addition, lucrative growth opportunities in the economic emerging countries is anticipated to provide new growth opportunities for the key players in the market. However, Africa is estimated to register the highest growth rate during the forecast period, owing to rise in government healthcare expenditure and growth in demand for healthcare devices from large pool of patient population, and improvement in healthcare infrastructure.

Key Benefits:

• The study provides in-depth analysis of the LAMEA IVD market along with current trends and future estimations to elucidate the imminent investment pockets.
• Quantitative analysis of the industry is provided for the period of 20162023 to enable the stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis by technology and application helps understand various trends and prevailing opportunities in the market.
• Comprehensive analysis of all countries is provided, which determines the main opportunities in these geographies.
• The key market players are profiled and their strategies are analyzed to predict the competitive outlook of the market.

Key Market Players :

• THERMO FISHER SCIENTIFIC INC
• ALERE INC
• BIOMERIEUX
• DANAHER CORPORATION
• F. HOFFMANN-LA ROCHE AG
• BECTON DICKINSON AND COMPANY
• BIO-RAD LABORATORIES
• BAYER AG
• SYSMEX CORPORATION
• JOHNSON & JOHNSON

Other Trending Reports:

In Vitro Diagnostics Market
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