Global "Asia
Pacific in Vitro Diagnostics Market" 2024 Industry research report covers the industry overview with
Marketplace Size, Share, Development, futuristic cost, earnings, demand and
distribution data. Its vast repository offers an analytical summary of the
marketplace that can help to the new and existing player to take a significant
decision.
In this report, we
thoroughly examine and analyse the Global market for Asia Pacific in Vitro
Diagnostics so that market participants can improve their business strategy and
ensure long-term success. This report provides players with useful information
and suggests result-based ideas to give them a competitive advantage in the
global Asia Pacific in Vitro Diagnostics industry. It will show how other
players compete in the global Asia Pacific in Vitro Diagnostics Market and
explain the strategies you use to differentiate yourself from other
participants.
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Industry Insights
The Asia Pacific in Vitro
Diagnostics Market was estimated at USD 12.5 billion in the year 2015. 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.
The increasing need for
rapid diagnostics, rise in healthcare spending, and rapid adoption of advanced
technologies in the countries like India and China attributes to the escalating
growth rate of the in vitro diagnostics in the region. Moreover, the increasing
per capita income in these countries also has led to boost in the in vitro
diagnostics market. The other major factors responsible for the growth of the
market are increasing gross domestic products, and disposable income.
High population, cheap
labor, unmet needs of targeted population, as well as escalating incidence and
prevalence of infectious diseases have triggered major global players to enter
the regional market. The increasing number of funds and more investments in the
emerging economies has also helped to boost the demand for IVD products in the
region. However, the strict regulatory policies are expected to the restraint
the market growth of IVD.
Application Insights
On the basis of
application, the market is classified into oncology, infectious diseases, HIV,
cardiology, autoimmune diseases, nephrology, and drug testing. The infectious
segment is estimated to be the largest among all due to high incidence rate of
the infectious diseases in the Asia Pacific region.
Moreover, the increasing
incidence of HIV has further led to the increase in demand for rapid IVD tests.
In addition, the increasing awareness among the people regarding the new test
methods has led to augment the in vitro diagnostics market in the Asia Pacific
region.
End Use Insights
On the basis of the end
use, the IVD market in the Asia Pacific region is classified into the
hospitals, laboratories, homecare diagnostics, and others. Being the primary
healthcare center, hospital held the largest revenue share in 2015.
Homecare diagnostics is
anticipated to grow at the highest CAGR during the forecast period. Growing
elderly population base, rising demand for rapid testing, and increasing
initiatives for reducing prolonged hospital stays are some of the key factors
supporting market growth.
Regional Insights
The regional IVD market is
classified in to Japan, India, and China. China is projected to grow at the
highest CAGR during the study period. The increasing per capita income and
rising GDP are factors responsible for the growth of these markets.
Moreover, the developing
economies such as that of India have attracted various companies to invest in
these countries. The increasing population also has led to the increased demand
of IVD in the Asia Pacific region.
Competitive market Share
Insights
The major players include
Affymetrix, Inc., Danaher Corporation, Alere, Inc, Abbott Laboratories, Roche
Diagnostics, Bio-Rad Laboratories, Inc., Becton, Dickinson and Company,
BioMerieux, Inc., Vela Diagnostics, Inc., Siemens Healthcare Diagnostics, Inc.,
among others.
In order to gain a
competitive edge in the market, major players have undertaken several organic
as well as inorganic strategies. Some of the key strategies include new product
launch and development, geographic expansion, mergers, acquisition, and
agreement among others.
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