In Vitro Diagnostics (IVD) Market 2015 to 2022 – Industry Size, Growth, Trends, Opportunities and Forecasts : Acute Market Reports
In vitro diagnostics (IVD) is the technique in which medical devices and reagents are used to examine specimens such as blood, urine, stool, tissues and other body fluids, which are derived from the human body to detect diseases, conditions and infections. The tests can be performed in stand-alone laboratory, hospital based laboratory and point of care. Some of the significant technologies incorporated in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology and mass spectrometry, which are used for test sample preparation. Incessant innovations in IVD product design and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines.
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The world in vitro diagnostics market is estimated to garner $81.3 billion by 2022, registering a CAGR of 4.9% over the forecast period. Growing need of IVD testing arises due to increasing incidences of chronic and infectious diseases and growing geriatric population prone to immunological disorders. Moreover, increased application of personalized medicines and widespread knowledge of rare diseases are boosting the growth of IVD market. In addition, increasing incidences of colorectal cancer, neurological disorders, gynecological diseases and others would boost the adoption of IVD devices and reagents. On the contrary, stringent government regulations and unfavorable reimbursement policies would limit the growth of the market. The rising demand for technologically advanced diagnostic devices and increased disposable income of consumers provides huge growth potential for IVD market. Furthermore, technological advancements to develop high sensitivity point-of-care (POC) hematology testing is anticipated to boost the market growth.
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The report segments the market across different categories such as product type, techniques, application, end users and geography. Based on product types, the market is segmented into reagents, instruments, and services & software. Based on techniques, the market is segmented into immunodiagnostics, blood testing, molecular diagnostics, tissue diagnostics, clinical chemistry and other clinical techniques. Similarly, based on application, the market is further segmented into, infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases and other indications. Based on end users, the market is categorized into standalone laboratory, hospitals, academics & medical schools, point of care and others. The geographical breakdown and detailed analysis of each of the aforesaid segments are included for North America, Europe, Asia-Pacific and LAMEA.
The leading players in the IVD market have adopted key strategies, such as product launch, and acquisition to expand their market presence. For instance, in Oct 2015, Roche Diagnostic has launched new Cobas c513 analyzer, which can be used for HbA1c testing for risk identification, diagnosis and stringent monitoring of diabetic patients. Prominent market players have adopted the strategy of acquisition of small diagnostic devices and reagents providers to increase their market share. For instance, Danaher Corporation has acquired Pall Corporation, in August 2015, to enhance the well-established capabilities of Danaher Corporation in life science and diagnostic industry. Roche diagnostics, Abbott, Danaher Corporation are few of the dominant players in the IVD market. Roche diagnostics, Abbott, Danaher Corporation are few of the dominant players in the global IVD market. Other companies include Johnson and Johnson, Sysmex Corporation, Becton Dickinson, bioMrieux, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Siemens AGand Alere Inc. The comprehensive competitive analysis and profiles of major market players mentioned above are profiled in the report.
KEY BENEFITS FOR STAKEHOLDERS:
This report provides an extensive analysis of the current and emerging trends and dynamics in the world IVD market.
Geographically, the world IVD market is analyzed based on various regions such as North America, Europe, Asia-Pacific and LAMEA.
This report entails the detailed quantitative analysis of the current market and estimations from 2015 to 2022, which assists in identifying the prevailing market opportunities.
Exhaustive analysis of the world IVD market by techniques helps in understanding the variants of IVD testing techniques that will gain prominence in the future.
Competitive intelligence highlights the business practices followed by leading market players across various geographies.
SWOT analysis enables to study the internal environment of the leading companies for strategy formulation.
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