Latest Research Report on In
Vitro Diagnostics (IVD) Market begins with a
deep introduction and then delves broad into specific segments such as raw
material, application, end user, and region, policy study, value chain
structure, and upcoming trends in particular segments or regions. The report on
In Vitro Diagnostics (IVD) prepare a case for investments in different regions
based on a practical view of their regulatory outline, manufacturing dynamics,
and availability of skills and resources in that region.
In Vitro Diagnostics (IVD) Market
Report by Material, Application, and Geography – Global Forecast to 2025 is a
professional and in-depth research report on the world’s major regional In
Vitro Diagnostics (IVD) Market conditions, focusing on the main regions (North
America, Europe and Asia-Pacific) and the main countries (United States,
Germany, united Kingdom, Japan, South Korea and China).
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The global In Vitro
Diagnostics (IVD) Market size is likely to reach USD 98.99 billion by 2025 and
is anticipated to grow at a CAGR of 6.6% during the forecast period. In-Vitro
diagnostics is an extensive range of veterinary and medical laboratory tests
that are used to analyze diseases and constantly monitor the clinical status of
patients using samples of blood, cells, or other tissues attained from a
patient.
Considering its driving
factors, the growing geriatric population that is very much susceptible to
diseases, needs constant diagnostic tests. Additionally, technological
expansions in terms of precision, compactness, and cost-effectiveness are
helping the market to fast-track the demand for In-Vitro diagnostics industry
in the current scenario.
In addition to this, there
is a continuous rise in the demand for Point-of-Care (PoC) devices and the
improved technologies such as miniaturization of microfluidics, biochips, and
nano-biotechnology are now being introduced, which are expected to boost the
demand for PoC products. These improvements will eventually lead to an upsurge
in the access to point-of-care diagnostic tests and are likely to facilitate
rapid and effective test results and will aid the In-Vitro diagnostics market to
experience massive growth during the forecast period.
The In Vitro diagnostics
(IVD) industry is segmented on the basis of product & service (Reagents
& Kits, Instruments, Fully-automated Instruments, Semi-automated
Instruments, Others, Data Management Software, Services);
Technology segment
comprises (Immunochemistry/Immunoassay (Enzyme-Linked Immunosorbent Assay
(ELISA), Chemiluminescence Immunoassay (CLIA), Fluorescence Immunoassay (FIA),
Colorimetric Immunoassay (CI), Radioimmunoassays (RIA), Rapid Tests,Western
Blot, ELISPOT), Clinical Chemistry (Basic Metabolic Panel, Electrolyte Panel,
Liver Panel, Lipid Profile, Renal Profile, Thyroid Function Panel, Specialty
Chemicals), Molecular Diagnostics (Polymerase Chain Reaction (PCR), Isothermal
Nucleic Acid Amplification Technology (INAAT), Hybridization (In-situ
Hybridization & FISH), DNA Sequencing & NGS, Microarray, Others),
Microbiology, Hematology, Coagulation & Hemostasis, Urinalysis, Others);
Application category
includes (Diabetes, Infectious Diseases, Oncology/Cancer, Cardiology,
Nephrology, Autoimmune Diseases, Drug Testing/Pharmacogenomics, HIV/AIDS,
Others);
End user segmentation for
In Vitro Diagnostics market includes (Laboratories (Large/Reference
Laboratories, Medium-sized Laboratories, Small Laboratories), Hospitals,
Academics, Point-Of-Care Testing, Patient Self-Testing, Others) and by region
(North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
Based on product, reagents
& kits dominated the In Vitro diagnostics industry and held the highest
market share as the usage of IVD testing has increased. Along with this, taking
the technology insights into consideration, clinical chemistry controlled the
market by generating higher revenue.
Geographically, North
America is expected to dominate the IVD market as it holds the largest market
share owing to the availability of government funds, and increase in the usage
of molecular diagnostics in cancer screening and genetic disorders. Followed by
this, Asia Pacific is likely to command the highest growth rate during the
estimated time span due to the rise in the number of hospitals and an increase
in healthcare expenditure. In the near future In-Vitro diagnostics (IVD)
industry will continue to come up with some extraordinary product innovations
to attract new consumers and investors, for them to continue the domination.
Some of the prominent key
players outlined in the In-Vitro diagnostics (IVD) market report are Cepheid,
Siemens Healthineers, Qiagen, bioMerieux SA, Sysmex Corporation, Hologic, Inc.
(Gen-Probe), F. Hoffmann-La Roche Ltd., Becton, Dickinson and Company, Hologic,
Inc. (Gen-Probe), Abbott, Alere and Danaher. All the leading companies are
including mergers and acquisitions, partnerships and joint ventures to enhance
the growth of the market efficiently.
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