Mexico Laboratory Developed Tests Market Size & Outlook
Mexico laboratory developed tests market, 2018-2030 (US$M)
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Mexico laboratory developed tests market highlights
- The Mexico laboratory developed tests market generated a revenue of USD 228.5 million in 2023 and is expected to reach USD 316.2 million by 2030.
- The Mexico market is expected to grow at a CAGR of 4.7% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 228.5 million |
| Market revenue in 2030 | USD 316.2 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, Mexico accounted for 1.8% of the global laboratory developed tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- Brazil is the fastest growing regional market in Latin America and is projected to reach USD 442.5 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico laboratory developed tests market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 23.24% in 2023. Horizon Databook has segmented the Mexico laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
Controlling the prevalence of communicable and non-communicable diseases is a major challenge in Mexico. Healthcare institutions have undertaken initiatives to spread awareness among the citizens through healthcare camps for early diagnosis of cancer and other diseases.
R&D programs for analysis of novel genetic biomarkers used in drug development are also increasing owing to the growing collaborations between biopharmaceutical companies and research institutes. Furthermore, the increasing demand for diagnostic tests is helping developers accelerate the commercialization of tests and propel the regulatory bodies for their approvals in several places.
For instance, in June 2021, Sorrento declared that it received emergency use authorization from COFEPRIS (Mexican Federal Commission for the Protection Against Sanitary Risk) for COVI-STIX. Favorable government regulations are expected to boost the LDTs market. In Mexico, the COFEPRIS division of the Mexican Ministry of Health governs the approval process for IVDs and LDTs.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Mexico laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into Mexico laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Mexico laboratory developed tests market size, by technology, 2018-2030 (US$M)
Mexico Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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