In-Vitro Diagnostics Market Estimated to grow at a significant CAGR by 2025


Posted November 19, 2019 by Shristi

Global In-Vitro Diagnostics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025
 
Analyst Speak: 

“The Global In-Vitro Diagnostics Market was valued at US$ 65.3 Bn in 2018 and is expected to grow at a significant CAGR over six years forecast period 2019-2025 owing to increasing investments in the development of condition-specific markers and tests by the market players”.

Precision Business Insights (PBI) in its report titled “Global In-Vitro Diagnostics Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over six years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.

Avail Sample Report of the Market @ https://www.precisionbusinessinsights.com/request-sample?product_id=17093

The global in-vitro diagnostics market was valued at US$ 65.3 Bn in 2018 and growing at a CAGR of 5.5% over the forecast period owing to rising incidence of chronic diseases such as autoimmune diseases, cancer, and inflammatory diseases coupled with growing number of geriatric population across the world. For instance, according to NIH, in 2017, almost 23.5 Mn autoimmune diseases cases were registered in United States. Moreover, launch of new products into the market and advancements in technology in offering accurate and precise results are anticipated to drive the growth of the market. In addition, the number of public and private diagnostic centers have been increased drastically coupled with increasing investments by the market players are projected to fuel the growth of the market over the forecast years. However, unfavorable medical reimbursement owing to which the medical testing segment has declined 38% over the past 2 decades and stringent government principles for manufacturing IVD products are expected to restrain the growth of the market over the forecast years.

Global in-vitro diagnostics market segmented on the basis of product type, techniques, application, end user, and region.               

Immunochemistry segment accounted for higher revenue share

Based on techniques, global in-vitro diagnostics market is segmented into immunochemistry, molecular diagnostics, clinical chemistry, tissue diagnostics, hemostasis and coagulation, and others. Immunochemistry segment accounted for the largest market share in 2018 and is expected to grow with highest CAGR over the forecast period owing to the rising inclination towards these technologies over conventional methods and offers faster and accurate results.

North America holds leading position in Global In-Vitro Diagnostics Market 

PBI’s global in-vitro diagnostics market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America is expected to account for larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 owing to increasing procedures number in molecular diagnostics in screening cancer and genetic disorders. Moreover, presence of good number of market players in the region with the support of government to advance the products drives the growth of the market. Asia Pacific is expected to grow with a significant CAGR over the forecast years owing to rise in number of diagnostic centers in the region, mainly in emerging countries such as India, Indonesia etc. Healthcare sector is well developing in the region and increasing healthcare expenditure is anticipated to drive the growth of the market.

For More Information @ https://www.precisionbusinessinsights.com/market-reports/global-in-vitro-diagnostics-market/

Recent Developments in the Global In Vitro-Diagnostics Market 

In December 2018, Novacyt launched its new CE-IVD mark molecular diagnostic kits called Genesig Real-Time PCR Epstein-Barr Virus (EBV) Kit and Genesig Real-Time PCR BK virus (BKV) Kit.
In July 2018, Surmodics, Inc., launched an assay “MatrixGuard Diluent” to reduce false positive results in IVD tests.
In 2015 April, Abbott and Sekisui entered into an agreement for providing solutions of coagulation testing for laboratories across the world.

Key player’s profiles in the report are Becton, Dickinson and Company (U.S.),  Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Roche Diagnostics (Switzerland),  Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (U.S.),  Sysmex Corporation (Japan), bioMérieux (France), Bio-Rad Laboratories, Inc. (U.S.), Qiagen N.V. (Germany), Diasorin S.P.A. (Italy).Ortho-Clinical Diagnostics, Inc. (U.S.), and Johnson and Johnson (U.S.).

Detailed Segmentation 

By Product Type

Reagents and consumables
Instruments

By Techniques

Immunochemistry
Molecular diagnostics
Clinical chemistry
Tissue diagnostics
Hemostasis and Coagulation
Others 

By Application

Cancer
Infectious diseases
Nephrological diseases
Immune system disorders
Gastrointestinal disorders
Neurological disorders
Hematological disorders
Others 

 By End User  

Hospitals
Diagnostic Centers
Point-of-care testing

Geography 

North America

US
Canada

Europe

Germany
France
UK
Italy
Spain
Russia
Poland
Rest of Europe

Asia-Pacific

Japan
China
India
Australia & New Zealand
ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
South Korea
Rest of Asia-Pacific

Latin America

Brazil
Mexico
Argentina
Venezuela
Rest of Latin America

Middle East and Africa (MEA)

Gulf Cooperation Council (GCC) Countries
Israel
South Africa
Rest of MEA

About Us:
 
Precision Business Insights is one of the leading market research and management consulting firm, run by a group of seasoned and highly dynamic market research professionals with a strong zeal to offer high-quality insights.
 
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Shreya Paul
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Issued By Precision Business Insights
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Categories Health , Marketing , Miscellaneous
Tags invitro diagnostics market , invitro diagnostics market share , invitro diagnostics market size
Last Updated November 19, 2019