Global in-vitro diagnostics market was valued at USD 62.3 billion in 2016 and the market is projected to grow at a compound annual growth rate of in between 5 to 6% during the forecast period 2019 to 2024. The global in-vitro diagnostics market is segmented as product type, technique, therapeutic application, end user and geography. The products are further sub segmented as, instruments, reagents & consumables, data management software and services. The major techniques covered in the reports are immunoassay, clinical chemistry, microbiology, molecular diagnostics, hematology, coagulation & homeostasis and Others. The global in vitro diagnostics market is further segmented by therapeutic application such as infectious diseases, cancer/oncology, endocrinology, cardiology, diabetes, nephrology and others. The report covers market share of end users of in vitro diagnostics market such as hospitals, clinical laboratories, academic & research institutes, physician offices, patient-self testing and others. The report includes extensive market analysis of Americas, Europe, Asia-Pacific and Africa and Middle-East regions.
Global in vitro diagnostics market is driven by factors such as growing prevalence of various life style diseases, chronic and age related diseases, ease of testing various parameters at home or doctor’s office increasing the trend of point of care IVD market, large number of companies available with varied range of devices and reagents etc. The growth of the market is hindered by factors such as increasing cost of quality product …etc.
Immunoassay and clinical chemistry analyzers market together dominated the global IVD market in 2017 with the largest market share globally. Molecular diagnostics is the fastest growing market segment, anticipated to grow at a CAGR of ~ 8.0% from 2019 to 2024. Physician offices end user segment is anticipated to grow at a highest pace of CAGR from 2019 to 2024 and it is anticipated to be USD ~ 13.0 billion in 2024. Americas and Europe together are the largest market, accounted more than 75% of share in 2017. However Asia Pacific IVD market is anticipated to expand at a highest pace of growth rate from 2019 to 2024.
Axiom MRC conducted in depth market research study across 25 countries of Americas, Europe, Asia Pacific and MEA regions to bring various valuable market insights of IVD market such as, market share by technology, market share of global and local players, competitive landscape, market drivers and restraints, technological trends and country specific regulations.
The key players operating in this market includes Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, GE Healthcare, Danaher Corporation, Johnson & Johnson, Sysmex Corporation, Becton Dickinson, bioMerieux, Bayer Healthcare, Thermo Fisher and Alere.