Argentina In Vitro Diagnostics Market Size & Share | 2031

Report Description

The Argentina In vitro diagnostics market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.4% during the forecast period 2023–2031. Growth of the market is attributed to increasing population, advancement in genetics, and enhanced efficiency of in-vitro diagnostics in diagnosis of cancer.

In vitro diagnostics are tests done on tissue and blood samples of the human body. In vitro diagnostics can monitor patient’s health and discover other conditions to help them treat, cure, and prevent diseases.

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The Covid-19 pandemic affected the demand and supply of Argentina in vitro diagnostics market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.

Argentina In Vitro Diagnostics Market Trends, Drivers, Restraints, and Opportunities

• Increasing product launches with advanced features is projected to boost the market in the coming years.
• Increasing awareness about environmental concerns is the major factor fueling the market in coming years.
• Decrease in adaptation rate of in-vitro diagnostics is anticipated to restrict the market growth.
• Stringent regulatory guidelines and reimbursement policies are projected to hamper the market expansion.
• R&D investment and technological advancement in in vitro diagnostics is projected to create lucrative opportunities for the market players.

Scope of In Vitro Diagnostics Market Report

The report on the Argentina in vitro diagnostics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

In Vitro Diagnostics Market Segment Insights

The hospitals & clinics segment accounts for key share of the market

Based on end-users, the Argentina in vitro diagnostics market is segregated into hospitals & clinics, diagnostic laboratories, and others. The hospitals & clinics segment accounts for a key share of the market. Growth of the market is attributed to rising demand for major diagnostics procedures and high prevalence of infectious & chronic diseases. However, the diagnostic laboratories segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing number of research &development procedures and improved standard of living.

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The reagent segment accounts for a significant share of the market

On the basis of products, the market is segregated into reagent, instrument, and others. The reagent segment accounts for a significant share of the market. Growth of the market is attributed to well-established healthcare infrastructure and increasing healthcare expenditure. The instrument segment is anticipated to expand at a rapid pace during the forecast period due to rapid adoption of point of care testing.

The reusable IVD devices segment accounts for a major share of the market

Based on usability, the Argentina in vitro diagnostics market is bifurcated into reusable IVD devices and disposable IVD devices. The reusable IVD devices segment accounts for a major share of the market. Growth of the market is attributed to increasing demand of in-vitro toxicology testing in pharmaceuticals sector and increasing advancement in genetics.

The disposable IVD devices segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising prevalence of diabetes disease and rapid technological advancement in in-vitro toxicology testing methods.

The cancer & oncology segment accounts for a significant share of the market

On the basis of applications, the market is segmented into cancer & oncology, infectious disease, autoimmune disease, diabetes, cardiology, nephrology, and others.

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The cancer & oncology segment accounts for a significant share of the market. Growth of the market is attributed to high cost of several diagnostic platforms and rise in demand for IVD kits. The infectious disease segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing development & research procedures and changing lifestyles.

The immune diagnostics segment accounts for a significant share of the market

Based on test types, the Argentina in vitro diagnostics market is divided into molecular diagnostics, clinical chemistry, immune diagnostics, hematology, and others. The immune diagnostics segment accounts for a significant share of the market. Growth of the market is attributed to high prevalence of infectious & chronic diseases. The molecular diagnostics segment is anticipated to expand at a rapid pace during the forecast period due to factors such as increasing geriatric population.