Roche Diagnostics and Abbott are Leading Players in the In-Vitro Diagnostics Market

Posted April 20, 2022 by snehalshaha

The global IVD market is projected to reach USD 113.1 billion by 2026 from USD 98.2 billion in 2021, at a CAGR of 2.9% during the forecast period.
The growth of the IVD market is mainly driven by the rising geriatric population and the subsequent growth in the prevalence of chronic and infectious diseases, increasing adoption of fully automated and POC instruments in developed regions, growing awareness regarding diseases diagnosis in developing regions, and growing R&D investments by industry players to launch new IVD products. Also, the development of disease-specific markers and tests is expected to offer potential growth opportunities to market players in the coming years. However, the unfavorable reimbursement scenario is expected to restrain the growth of this market during the forecast period.

The global IVD market is projected to reach USD 113.1 billion by 2026 from USD 98.2 billion in 2021, at a CAGR of 2.9% during the forecast period.

Download PDF Brochure: -

The IVD market is highly competitive, with several companies holding substantial market shares. The top five players in this market hold ~65–70%. Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott (US), and Thermo Fisher Scientific (US) are the leading players in this market. Other players in this market are Johnson & Johnson (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), DiaSorin (Italy), Ortho Clinical Diagnostics (US), and QIAGEN N.V. (Netherlands). These players have adopted various growth strategies such as acquisition, product launches, and expansion to increase their presence and reach in the medical device contract manufacturing market.

Roche Diagnostics is a leading player in the IVD market, accounting for a share of around 20--22% in 2020. The company’s leading position in the IVD market is attributed to its wide product portfolio, which includes clinical chemistry, immunochemistry, molecular diagnostics, tissue diagnostic instruments, reagents, and kits. Under its flagship brand—cobas—the company offers a variety of IVD instruments, reagents, and kits widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe. Roche Diagnostics mainly focuses on product launches and strategic partnerships & collaborations to maintain its leading position in the market.

Abbott Laboratories accounted for ~12-15% of the IVD market in 2020. Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging high-growth markets. The company has a strong product portfolio, and its FDA- and CE-approved products have helped it maintain and enhance its presence in the IVD market. The company is presently developing next-generation instrument platforms, such as the PLEX-ID platform and other advanced patient self-testing technologies.

Danaher Corporation held the third position in the IVD market with an 8-10% share in 2020. The company operates in Europe, North America, and the Asia Pacific and has 242 manufacturing and distribution facilities worldwide. Danaher operates in the IVD market through its subsidiaries, namely, Beckman Coulter Inc. (US), Leica Biosystems GmbH (Germany), Cepheid (US), HemoCue AB (Sweden), AB SCIEX Pte. Ltd. (US), and Radiometer Medical ApS (Denmark). Its focus on product development and launches helps it maintain its market position. Growth through strategic acquisitions could also help the company expand its product portfolio and market presence. For instance, in March 2020, the company acquired certain business portfolios from the General Electric Company to expand its diagnostics business.

Siemens held the fourth position in the IVD market with a 7-10% share in 2020. The company’s share in the IVD market is attributed to its strong geographical presence across the globe and broad portfolio of immunoassays, clinical chemistry, hemostasis, and infectious disease diagnostics products. Over the years, the company has strengthened its presence in the global IVD market by launching innovative solutions and expanding its presence in high-growth markets. The company also focuses on product launches and agreements to improve its presence in the IVD market.

Request Sample Pages: -

Thermo Fisher Scientific, Inc. held the fifth position in the IVD market with a share of 5-6% in 2020. The company offers analytical instruments, reagents and consumables, equipment, software, and services for manufacturing, research, analysis, discovery, and diagnostics. It also offers aftermarket services, customer support, temperature-controlled repository services, and technical support for its enteric disease testing products.

Browse Related Reports:
US In Vitro Diagnostics (IVD) Market by Technology (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Microbiology), Application (Infectious Diseases, Diabetes, Cancer, Cardiology), End User (Hospitals & Laboratories) & by Region - Forecast to 2020
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By snehals
Country United States
Categories Biotech , Health , Medical
Tags in vitro diagnostics market
Last Updated April 20, 2022