This report provides detailed historical analysis of global market for In-Vitro Diagnostics from 2014-2019, and provides extensive market forecasts from 2020-2027 by region/country and subsectors.
Vancouver, BC -- (SBWIRE) -- 01/19/2021 -- Market Size – USD 69.63 billion in 2019, Market Growth - CAGR of 4.6%, Market trends – The rise in the trend of personalized medicine.
Owing to the increase in the number of people who suffer from chronic diseases, the market for In-Vitro Diagnostics is growing. The market for diagnostic tests is growing for infectious disorders, chronic diseases, sexually transmitted diseases, genetic testing, and oncology.
This has influenced leading companies in the In-Vitro Diagnostics industry, placing tremendous pressure on businesses to focus on new product creation, production, and distribution skills in order to seize growth opportunities. As it is pushing IVD companies to include liquid biopsy and companion diagnostics in their product line, the emphasis on screening, therapy selection, and monitoring has increased.
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In-Vitro Diagnostics Market Drivers
The size of the global in-vitro diagnostics market was estimated at USD 69.63 billion in 2019 and is forecast to hit USD 99.51 billion at a 4.6% CAGR by 2027. The rise in the elderly population is fuelling the market's growth. The growth of the industry is also motivated by a rise in the number of private and public diagnostic centres. Governments are increasing spending in healthcare, which is expected to improve the demand further. However, the growth of the market is hindered by strict regulations regarding the production of IVD products and insufficient reimbursement policies. It is expected that ongoing research and new technologies will provide sufficient opportunities for the growth of the industry.
In-Vitro Diagnostics Market: Regional Outlook
The Asia Pacific is expected to see significant growth due to the involvement of many developing countries, rapid economic reforms, and the need for better health care solutions. The growth of the IVD market in this area is driven by growing research and development and high investment by manufacturers. With a share of 31.1% in the year 2019, North America dominated the market.
Key participants include Siemens Healthineers, Roche Diagnostics, Danaher Corporation, bioMérieux, Abbott Laboratories, DiaSorin, Thermo Fisher Scientific, Inc., Ortho Clinical Diagnostics, QIAGEN, and Sysmex Corporation, among others.
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Product Outlook (Revenue, USD Billion; 2017-2027)
Reagents & Kits
Instruments
Fully Automated Instruments
Semi-Automated Instruments
Data Management Software
Services
Devices Outlook (Revenue, USD Billion; 2017-2027)
Reusable IVD Devices
Disposable IVD Devices
Application Outlook (Revenue, USD Billion; 2017-2027)
Cancer
Infectious Diseases
Diabetes
Gastrointestinal Disease
Autoimmune Diseases
Cardiac Disease
Drug Testing /Pharmacogenomics
HIV/AIDS
Nephrological Disease
Other
Technique Outlook (Revenue, USD Billion; 2017-2027)
Immunoassay
Clinical Chemistry
Molecular Diagnostics
Microbiology
Hematology
Coagulation and Hemostasis
Urinalysis
Other IVD Technologies
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Diagnostic Laboratories
Homecare Settings
Others
Regional Scope- North America; Europe; Asia Pacific; Central & South America; MEA
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Table of Content
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. In-Vitro Diagnostics Market Segmentation & Impact Analysis
4.1. In-Vitro Diagnostics Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rise in the prevalence of target diseases
4.2.2.2. Increase in research and development in In-Vitro diagnostic
4.2.2.3. Rising investment by government and private organization
4.2.3. Market restraints analysis
4.2.3.1. Strict regulatory framework
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter's Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. In-Vitro Diagnostics Market By Product Insights & Trends, Revenue (USD Million)
5.1. Product Dynamics & Market Share, 2019 & 2027
5.1.1. Reagents & Kits
5.1.2. Instruments
5.1.2.1. Fully Automated Instruments
5.1.2.2. Semi-Automated Instruments
5.1.3. Data Management Software
5.1.4. Services
Continue…
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