In Vitro Diagnostics - Argentina | Statista Market Forecast

The projected revenue in the In Vitro Diagnostics market market in Argentina is expected to reach US$1.16bn in 2024.
It is estimated that the revenue will experience an annual growth rate of 2.21%, resulting in a market volume of US$1.29bn by 2029.
When compared globally, the United States is anticipated to generate the highest revenue in this market, with US$30.10bn in 2024.
In Argentina, the In Vitro Diagnostics market is experiencing significant growth, driven by an increasing demand for advanced medical technology solutions.

Definition:
The market In Vitro Diagnostics (IVD) consists of medical instruments and accessories used to perform tests with the help of biological samples. In Vitro Diagnostics provide valuable information used for detection, prognosis, prevention, and therapeutic monitoring of diseases.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Roche Diagnostics, Abbott Laboratories, Danaher, Siemens Healthineers.
Further information on the key players can be found in the Market Shares boxes.

Molecular diagnosis
Immunoassays
Clinical chemistry
Microbiology
Hematology

Services (i.e., treatment expenses)
Imaging diagnostics

The In Vitro Diagnostics market in Argentina is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in Argentina are driving the demand for In Vitro Diagnostics products. With an aging population and increasing prevalence of chronic diseases, there is a growing need for diagnostic tests that can detect and monitor these conditions. Patients and healthcare providers are increasingly seeking accurate and reliable diagnostic solutions to support early detection, treatment planning, and disease management. Additionally, there is a rising demand for personalized medicine, which requires advanced diagnostic tools to tailor treatment plans to individual patients. Several trends are shaping the In Vitro Diagnostics market in Argentina. Technological advancements have led to the development of innovative diagnostic tests that offer faster and more accurate results. For example, molecular diagnostics and point-of-care testing have gained popularity due to their ability to provide rapid and precise diagnoses. Furthermore, there is a shift towards automation and digitalization in the laboratory, leading to increased efficiency and productivity. This trend is driven by the need to streamline workflows and reduce human error. Local special circumstances also play a role in the development of the In Vitro Diagnostics market in Argentina. The country has a well-established healthcare system, with a strong emphasis on public health. The government has implemented policies to improve access to healthcare services, including diagnostic tests. This commitment to healthcare infrastructure and accessibility has created a favorable environment for the growth of the In Vitro Diagnostics market. Additionally, Argentina has a highly skilled workforce in the healthcare sector, including laboratory technicians and pathologists, who contribute to the quality and accuracy of diagnostic testing. Underlying macroeconomic factors further support the expansion of the In Vitro Diagnostics market in Argentina. The country has experienced steady economic growth in recent years, which has led to increased healthcare spending. As disposable incomes rise, individuals are more willing to invest in their health and seek advanced diagnostic tests. Furthermore, the government has implemented favorable policies to attract foreign investment in the healthcare sector, leading to increased market competition and innovation. In conclusion, the In Vitro Diagnostics market in Argentina is developing due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for accurate and reliable diagnostic tests, technological advancements, a commitment to healthcare infrastructure, and favorable economic conditions all contribute to the growth and expansion of this market.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.