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The global in-vitro diagnostics market was valued USD 62.3 billion in 2016 and market is projected to grow at a compound annual growth rate of 5.6% during the forecast period 2019 to 2024. The global in vitro diagnostics market segmented such 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 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 an extensive market analysis for Americas, Europe, Asia-Pacific and Africa and Middle-East. Global in vitro diagnostics market is driven by the factors such as, growing prevalence of various life style, 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 with varied range of devices and reagents etc. The growth of the market is hindered by factors such as, increasing quality product cost etc. Immunoassay and clinical chemistry analyzers markets together dominated the global IVD market in 2016 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 2018 to 2023 and it is anticipated to be USD ~ 13.0 billion in 2024.
Americas and Europe together is the largest market, accounted more than 75% of share in 2016. However Asia Pacific IVD market is anticipated to expand at a highest pace of growth rate from 2019 to 2024. Axiom MRC conducted the in depth market research study across 25 countries of Americas, Europe, Asia Pacific and MEA regions to bring various valuable market findings 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.
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