Availability of easy-to-use portable devices facilitates self-testing, which is expected to foster market growth. The growth within this market can be attributed to increased awareness toward healthcare, the increase in number of people willing to undergo preventive health check-ups, availability of disease-specific test In vitro diagnostics ivd market, and corporate setups promoting awareness of health among employees.
Additionally, stringent regulations across the globe and limited budget of hospitals and laboratories in developing economies are also restraining the in-vitro diagnostics market.
The reagents segment held the largest share in and is expected to grow at a CAGR of over 2. The global in-vitro diagnostics market is expected to register a CAGR of 5.
Core laboratory holds the major share of the market but the advantages of POC technology are expected to make it the fastest growing test type. Asia-Pacific possesses the highest market potential due to surge in demand for better healthcare services, significant investments by government to improve healthcare infrastructure, and growth of medical tourism industry in emerging countries.
Moreover, usage of real-time polymerase chain reaction qPCR is one of the fastest growing application segments of the IVD infectious disease market. Furthermore, molecular diagnostic is likely to be the fastest growing segment.
Primers and fluorescent-labeled nucleotides are primary and most frequently used reagents during molecular diagnostic techniques.
Technique Insights The IVD techniques include immunology, hematology, In vitro diagnostics ivd market chemistry, coagulation, microbiology, and molecular diagnostics. POC testing has contributed heavily to diagnostics market growth over the past 10 years.
The reasons for Asia-Pacific being a lucrative marketplace include an increase in government healthcare expenditure and increase in per capita healthcare spending.
Application Insights The infectious disease segment dominated the overall market in in terms of revenue owing to mounting cases of infectious diseases such as HIV, tuberculosis, and pneumonia. Technology Insights On the basis of technology, clinical chemistry held the leading share in the market.
The point-of-care testing segment is expected to grow at the highest CAGR during the forecast period. Miniaturization of nano-biotechnology, biochips, and microfluidics is likely to increase the demand for point-of-care products. There has been a transition from diagnosis in core laboratories to diagnosis in front of the patient.
Roche acquired Flatiron Health to accelerate industry-wide development and delivery of breakthrough medicines for patients with cancer. These countries are set to be the target regions for the market players due to the large untapped potential. Moreover, the introduction of a new range of condition-specific markers and tests, with advances in genomics and proteomics, is expected to offer significant growth opportunities for market players during the forecast period.
Reagents such as protein biomarker specific antibodies, washing buffer, and fluorescent tags are used during immunochemistry assays.
Gen-ProbeQiagen N. North America is expected to dominate the in vitro diagnostics market in Rapid technological advancements in terms of cost-effectiveness, portability, and accuracy are anticipated to drive the market.
Europe represented the second largest market in and is expected to register significant growth over the coming years due to growing incidence rate of tuberculosis, cancer, and pneumonia in future. Fast turnaround, reliability, user-friendliness, and predictability of predisposed diseases are few significant qualities, which helped these technologies attain their share in major offerings of diagnosis providers around the world.
The IVD instrument manufacturing companies have now decided to expand their markets in tier-2 and tier-3 cities, which is expected to give them a chance to tap market segments having high revenue generation capacity.
Diagnostics and patient monitoring will play a larger role in POC testing.
In-vitro Diagnostics Market Key players: These novel technologies optimally enhance the real-time analytical capabilities of the devices by incorporating Information and Communication Technology ICT aspects, such as the use of mobile phones, which make these real-time diagnostic devices effective decision support tools for the end-users.
The regulatory scenario is of concern as there has been a wide range of instruments and assays, which range from Class I to Class III devices. The tax would not apply to medical device sales starting in Health insurance giants Aetna, UnitedHealth, Kasier Permanente - together with research organizations and IT companies - are collaborating to personalize medicine using big data.
The in-vitro diagnostics IVD market is growing at a steady rate as there is an increase in the awareness of various diseases and various plans are initiated by the government to reduce the diseases.
However, the strict regulatory policies are expected to the restraint the market growth of IVD. The increasing incidence of infectious and chronic diseases, rising awareness regarding advanced diagnostics solutions as well as technological advancements are expected to boost the in vitro diagnostic market in the Asia Pacific region.Market Analysis: The global in-vitro diagnostics market is estimated to witness a CAGR of % during the forecast period – The market is analyzed based on five segments – technology, application, test types, end-users, and regions.
The Asia Pacific in Vitro Diagnostics Market was estimated at USD billion in the year The increasing incidence of infectious and chronic diseases, rising awareness regarding advanced diagnostics solutions as well as technological advancements are expected to boost the in vitro diagnostic market in the Asia Pacific region.
In Vitro Diagnostics Market / IVD Size - Segmented by Technique (Immunochemistry, POC Diagnostics, Molecular Diagnostics, Hematology, Tissue Diagnostics, Microbiology, Self-Blood Glucose Monitoring), Products (Instruments, Reagents, Data Management Systems), Usability (Disposable IVD Devices, Reusable IVD Devices) Application, End.
In Vitro Diagnostic/IVD Market worth USD Billion by The report " In Vitro Diagnostic/IVD Market by Product (Instruments, Reagents), Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Hematology, Urinalysis), Application (Diabetes, Oncology, Cardiology, Nephrology) - Forecast to ", The report studies the global.
To define, describe, and forecast the global in vitro diagnostics (IVD) market on the basis of product, technology, application, end user, and region To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
The report "Global In-Vitro Diagnostics (IVD) Market: Industry Analysis & Outlook ()" analyzes the development of this market, with focus on the North America, EMEA, Asia-Pacific and.Download