Adroit Market Research Publish a New Market Research Report On – “Global In-Vitro Diagnostics Market 2018-2025”. The Report Covers Industry Trends, Statistic, Segmentation, Growth, Market Share, Revenue, Leading Players, Region, Types and Application.
The global IVD market size accounted for $xx billion in 2016. It is projected to reach $xx billion with a CAGR of xx% over the forecast period. IVD are medical devices, used to identify the condition of the disease. Biological samples such as urine, blood, tissues, body fluids and stool are required to detect conditions, infections, and diseases. These tests give accurate results and are easily performed. IVD products can be reagents, instruments or method used for the diagnosis of disorders.
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The high rate in the occurrence of infectious and chronic disorder and a large number of geriatric residents drive the IVD market globally. Additionally, the increase in a number of private and public diagnostic centers is anticipated to boost the market during the forecast period. In addition, growth in investment for the development of the healthcare segment by the government is expected to fuel the growth of the global IVD market. Though, strict rules of government for the production of IVD products and compensation plans are projected to affect the growth of the IVD industry.
Increase in the occurrence of chronic diseases:
Currently, there is an occurrence in chronic diseases such as cancer, tuberculosis (TB), diabetes and cardiovascular diseases. Moreover, there is also a significant increase in patients suffering from infectious diseases such as sexually transmitted diseases, respiratory and gastrointestinal diseases. The demand for IVD is increasing due to a rise in infectious and chronic disorders propelling the IVD market size.
Previously, IVD technologies were performed in clinical labs. Traditionally, pregnancy tests were performed in laboratories, but, nowadays, they can be performed at home by placing the urine sample on the test stick. These tests are easy to perform, less time-consuming and accurate. In the same manner, testing of blood glucose level can also be done, using point of care devices such as a glucometer.
Due to development in IVD technologies, there is an upsurge in the IVD industry. Currently, in Europe Life Technology corporation introduced CE-IVD Marked QuantStudio Dx Real-Time PCR instrument. This PCR offers diagnostic functions such as SNP genotyping, micro-RNA, pathogen detection, and mutation detection copy number analysis and gene expression analysis.
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Technique section is divided into blood testing, immunodiagnostics, molecular diagnostics, clinical chemistry and tissue diagnostics. Immunodiagnostics consists of enzyme-linked immunospot, radioimmunoassay, western blot, rapid tests, and enzyme-linked immunosorbent assay. Molecular diagnostics include DNA diagnostics, polymerize chain reaction, microarray, isothermal nucleic acid technology, hybridization and many more. Clinical chemistry is divided into lipid profile, electrolyte panel, basic metabolic panel, thyroid function panel, and liver profile. Clinical chemistry holds the largest share in the IVD market.
In 2016, reagents held the largest market share because of its use in large amount. Reagents such as specific antibodies, protein biomarker, fluorescent tags, and washing buffer are used in immunochemistry assay. Various chemicals such as magnesium chloride or salts, dNTP, primer are used for performing PCR. Most frequently used reagents for molecular diagnostic techniques are fluorescent-labeled nucleotides and primers. Reagents are playing a major role in the R&D department which is helping to increase the demand of the IVD market.
The market is segmented into diabetes, drug testing, nephrology, cardiology, autoimmune diseases, infectious diseases, cancer or oncology.
IVD is used in laboratories, by patients for self-testing, academic institutes, and hospitals.
Benefits of In-Vitro Diagnostics:
• Multiple Tests at the Same Time: Allows various markers to be detected at the same time and also helps in testing of drugs at different concentrations.
• Easily Records the Data: Easy for the clinician to record or process the information in form of scanned image or photocopy.
• Customizable to detect various chemicals: IVD are used in detecting specific markers. Clinicians have a large collection of chemicals that can be detected. Chemicals can be in the form of biological molecules, such as heroin a synthetic narcotic or hemoglobin in red blood cells.
• Quick Results: IVD tests can produce results in minutes exposing the sample.
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North America holds the largest IVD market share. The occurrence of infectious disorders such as cancer and respiratory disorders are the factors involved in increasing IVD market size. In 2016, Europe was a second largest market and is projected to witness a substantial growth in the coming years. The Asia Pacific is the fastest growing region over the forecast period.
Players involved in the development of IVD market share are Abbott Laboratories, Thermo Fischer Scientific, Sysmex Corporation, Roche Diagnostics, Dickinson and Company, Ortho-Clinical Diagnostics and many more.
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