According to Stratistics MRC, the Global In Vitro Diagnostics market is accounted for $61.65 billion in 2015 and is expected to reach $94.57 billion by 2022 growing at a CAGR of 6.3%. Technologically advanced healthcare and consumer spending in market is helping the market growth. Polluted environment and contaminated surroundings are leading to increase in number of chronic disease and infections, these all factors are favoring the market to grow. Moreover widely spread knowledge and cost effectiveness are also driving the market. But stringent regulations and reimbursement issues are hampering the market growth.
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However Infectious disease in application segment is anticipated to grow at considerable pace due to rise in amount of infectious diseases and it is followed by HIV/AIDS application. Whereas Laboratories in end-user segment is estimated to grow fast because of rise in number of laboratories, followed by Point of Care Diagnostics. North America being the largest revenue market, Asia Pacific is expected to grow fast due to increasing number of End-User applications.
Some of the major key players in the market are Roche Diagnostics Bio-Rad Laboratories, Inc., Johnson and Johnson , Biomérieux, Siemens Healthcare, Abbott Laboratories, Inc., Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, Inc., Danaher Corporation, Sysmex Corporation, Becton, Dickinson and Company, Cepheid Inc , Alere Inc., Novartis and Leica Biosystems.
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Rest of Europe
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