Global In Vitro Diagnostics (IVD) Market
Global in Vitro Diagnostics IVD Market was valued US$ 63 Bn in 2017 and is expected to reach US$ 111.07 Bn by 2026 at CAGR of 7.35 %.( Detailed analysis of the market CAGR is provided in the report) In Vitro Diagnostics (IVD) Market
Global in Vitro Diagnostics IVD Market
Global In-Vitro Diagnostics market is segmented into product segment, application, technology, end-user, geography. On the basis of product segment market is segmented into Reagents and Consumables, Instruments and Systems, according to an application, a market is divided into Diabetes, Infectious Diseases, Oncology/Cancer, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing/Pharma genomics, HIV/AIDS. Based on the technology market is classified into Immunochemistry, Clinical chemistry, Hematology, Infectious Immunology, Microbiology Culture, Genetic Testing, Histology, and Cytology. According to end-user market is divided into Hospitals, Laboratories, Point-Of-Care Testing Hematology, Patient Self-Testing, Academic Institutes, and Other End-Users. Geographically market is spread by North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
The increasing prevalence of lifestyle and chronic diseases, a growing acceptance of molecular diagnostics in personalized medicine, growth in the number of private diagnostic and caring centers is expected to fuel the market during the analysis period. Additionally, a rise in investment for the development of the healthcare sector by a government is anticipated to boost the market growth. Recent R&D activities related to IVD are likely to present new opportunities for the market.
However, firm rules and regulations for the production of IVD products, lack of reimbursement and increasing healthcare cost are expected to restrain the market growth. The Growing Product segment is instruments and systems growing at a CAGR ranging from 5.5 to 7 during the forecast period. Asia-Pacific is estimated to be the fastest-growing geographic region, growing at a CAGR ranging from 6% to 8.5% by 2026
In-Vitro Diagnostics (IVD) is a method of diagnostic, used to detect any kind of infection and diseases by taking the specimen from the human body to cure diseases. The market segment ranges from hospitals and clinics to that in research centers.
In 2017, North America is predictable to dominate the market followed by Europe. The market in North America is primarily driven by the implementation of fully automated instruments, availability of government funds, increasing use of molecular diagnostics in genetic disorders and cancer screening, and the presence of key players in the US
key players operated in the market are Danaher Corporation, Carlyle Investment Management L.L.C., Siemens AG, Becton, Dickinson, and Company, Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, BioMérieux SA, Abbott, Johnson & Johnson (US), Roche Diagnostics (Switzerland),Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), DiaSorin (Italy), Ortho Clinical Diagnostics (US), Agilent Technologies (US), and QIAGEN (Germany).
Scope of Global In Vitro Diagnostics IVD Market
Global In-Vitro Diagnostics (IVD) Market, By Product
• Reagents & Kits
o Fully-automated Instruments
o Semi-automated Instruments
• Data Management Software
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