According to the report “Global In-Vitro Diagnostics Market,” published by Market Data Forecast, the global market is projected to reach USD 78.07 billion by 2021, at a CAGR of 5.6% from 2016 to 2021.
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In-Vitro diagnostics test a sample of tissue or body fluids for microbial cultures or blood glucose. They are also used for testing changes in the liver function, imbalance in calcium levels in the body and electrolytes in the blood such as sodium, urea, potassium and Creatinine. The end users of In Vitro diagnostics market are generally Laboratories, Hospitals, Academic institutions, Point-of-care testing centers. There are around 40,000 IVD products available in the market assisting patients and specialists on a wide range of conditions
Global In-Vitro Diagnostics Market: Drivers & Restraints
The rising incidence of chronic lifestyle diseases, growth in the number of growth in the number of private diagnostic centers, and shift in focus from centralized laboratories to decentralized point-of-care testing are the key factors driving market growth. However, inadequate reimbursement and rising healthcare cost restraining the growth of this market.
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Global In-Vitro Diagnostics Market: Segmentation
- Reagents and Kits
- Clinical Chemistry
- Coagulation and Hemostasis
- Molecular Diagnostics
- Other IVD technologies
- Infectious Diseases
- Autoimmune Diseases
- Drug Testing
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Global In-Vitro Diagnostics Market: Overview
In-Vitro diagnostics can be described as tests that can help in detecting diseases, conditions or infections. Some of these tests are performed in laboratory or healthcare settings while other tests are for consumers to use at home.
Global In-Vitro Diagnostics market is expected to witness faster growth owing to advancements and innovations in the IVD technologies. Rising geriatric population base, growing prevalence of diabetes are the key factors driving the growth of the market. Increasing recognition of the diabetic’s role in the patient care and rapidly evolving healthcare environment due to growing awareness about various diseases are expected to drive the In-Vitro market in the forecast period. However stringent regulatory policies and unclear reimbursement policies are restraining the growth of the market.
Global In-Vitro Diagnostics Market: Region-wise Outlook
On the basis of geography global market for In-Vitro diagnostics is segmented into North America, Asia-Pacific, Europe, Latin America and Middle-East & Africa. North America Is the largest market for In-Vitro diagnostics accounting for a share of around 37% owing to growing prevalence of chronic diseases such as cancer and respiratory diseases in the region while Asia-Pacific is estimated to be the fastest growing segment with a CAGR of 6.4%.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021?
- What is the current and future In-Vitro Diagnostics Market outlook in worldwide?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the In-Vitro Diagnostics space in global?
- What are the key, high growth markets that In-Vitro Diagnostics manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the In-Vitro Diagnostics currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of In-Vitro Diagnostics?
- What are the challenges and barriers that have hindered widespread adoption of In-Vitro Diagnostics?
Global In-Vitro Diagnostics Market: Key Players
Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostics, and Beckman Coulter Inc. are the major players dominating the global IVD market. Other companies which account for a significant share in the IVD market are Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation and Thermo Fisher Scientific, Inc.
Reasons to buy Global In-Vitro Diagnostics Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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