Portland, OR -- (SBWIRE) -- 09/18/2017 -- UK IVD market accounted for $ 2,148 million in 2016, and is estimated to reach $3,127 million by 2023, growing at a CAGR of 5.4% during the analysis period (2017-2023).

In-vitro diagnostics (IVD) is the technique in which medical devices and reagents are utilized to analyze biological samples such as blood, urine, stool, tissues, and other body fluids, derived from the human body to detect diseases and infections. In addition, the tests are performed in the stand-alone laboratory and hospital-based laboratory. Some of the significant technologies incorporated in in vitro diagnostics include polymerase chain reaction, microarray techniques, sequencing technology and mass spectrometry, which are used for test sample preparation.

Based on product type, the reagents segment held the highest market share in 2016, owing to the recent introduction of new reagents R&D in the field for chemical science.

Immunodiagnostics occupied the highest share of the market in 2016 and is expected to maintain the lead during the forecast period owing to the introduction of novel reagents and increase in R&D.

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Based on technique, the immunodiagnostics segment contributed the highest market share in 2016, owing to the increase in the prevalence of chronic diseases and rise in demand for minimally invasive technique.

Key Findings of the UK IVD Market:

- The Immunodiagnostics segment dominated the market in 2016 and is projected to grow at the 5.6% CAGR.

- The pathology segment was the major shareholder in the UK IVD based application market in 2016.

- UK is expected to grow at the highest CAGR in the IVD market.

The major players profiled in the UK IVD market are Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson.

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