LATAM IVD market: fastest-growing emerging market region from 2021-2026

The Latin America (LATAM) in-vitro diagnostics (IVD) market is growing at an annual average of 7.8% from 2021 to 2026. It is the fastest-growing emerging market region.

Covid-19 has driven strong growth in the IVD sector. The LATAM IVD market has surpassed its pre-pandemic size. This growth is largely due to the sales of SARS-CoV-2 tests in the rapid scale up covid-19 testing. When controlling for covid-19 testing, we also find that the LATAM IVD market has recovered to pre-pandemic levels.

Key forecasts for 2021-2026

  • Point-of-care (POC) diagnostics is expected to contract as the region cuts back on covid-19 testing.
  • Centralised diagnostics is expected to grow at an annual average of 4.9% between 2021 to 2026. Rising incidence of chronic and infectious diseases in LATAM is expected to bring immunoassays that target these areas are in focus for investment in the post-pandemic era.
  • Molecular diagnostics (MDx) is expected to contract as the region cuts back on covid-19 testing. However, the established importance of MDx and PCR tests in managing the Covid-19 pandemic is also expected to drive category adoption in the long term.
  • Tissue diagnostics (TDx) is expected to grow in the forecast period, with advanced staining (IHC and ISH) as growth engines for this segment.

Next-generation sequencing (NGS) is the fastest-growing market segment in the forecast period.

Growing Your IVD Business in LATAM

With the Covid-19 pandemic transforming the region’s market dynamics, companies will need to rethink their strategy to continue to grow.

Through EIU Healthcare’s team of consultants and IVD Gateway – our proprietary data solution, we support your strategic and tactical business planning and provide answers on the what, where and how to gain market share.

Enquire about IVD Gateway

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IVD Gateway: IVD Market and Forecasts with Covid-19 Impact

The go-to-source for Covid-19 impact on In-Vitro Diagnostics test demand in 2020 and market recovery trends in 2021 for all 130+ IVD test segments across countries in Asia, Europe and Latin America.