In Vitro Diagnostics Market Size Worth $89.8 Billion By 2025 | CAGR: 6.2%
Published Date : 13 / 09 / 17 | Report Format: PDF
The global in-vitro diagnostics market is expected to grow at growth rate of 6.2% to reach USD 89.8 billion by 2025.
In vitro diagnostics include medical products which are used to collect, prepare and examine specimens such as blood, urine, tissue samples that are removed from the human body. The USFDA categorized IVD into three categories such as Class I IVDs includes microbiological culture media and instruments, Class II Pregnancy self-tests, Class III covers FISH and genetic tests that are utilized to diagnose sexually transmitted diseases and Class IV includes blood donors for infectious diseases. These categories usually comprise pathology tests and IVD instrumentation to conduct the testing on tissue samples and human bodily fluids to assist in clinical diagnosis.
Furthermore, IVD offers many advantages such as it enables to detect early stage cancers, increasing cancer survival rates greatly and thus overall patient outcomes. Such factors would in turn further boost the utilization of in vitro diagnostics techniques by end-users, leading to drive the market growth. In terms of application segment covers the market analysis for Immunochemistry, Hematology, Microbiology, Molecular Diagnostics, Clinical Chemistry, Hemostasis, and others. Immunochemistry segment recorded highest share of the total market, accounted for USD 8.63 billion in 2016. The segment is continue to dominate the market over the forecast period. Product segment is divided as instruments and reagents.
Companies operating in this business segments are strongly engaged in developing novel and effective in-vitro diagnostic kits for the diagnosis of various life threatening disease conditions. Key players such as Abbott Lab, Becton, Dickinson and Company, bioMérieux SA, Alere, Inc., F. Hoffman-La Roche Ltd. and others. Strategic merger and acquisitions is one of the most effective strategic among key players to expand their presence or market share in this market. In April 2017, Abbott announced merger with Alere, Inc., leader of point of care diagnostic industry. This acquisition will help Abbott to expand its product offering in in-vitro diagnostic segment.
KEY BENEFITS OF THE REPORT:
- Understanding of the strategies that are being adopted by the key players in this market to stay competitive
- Extensive analysis of the key players dominating the competitive landscape of this market
- In-depth analysis of the key factors are propelling the growth of the global market
- Detailed analysis of the geographic region that will witness the strongest growth
- Granular analysis of the current market scenario and the expected market grow
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY APPLICATION
- Molecular Diagnostics
- Clinical Chemistry
MARKET, BY PRODUCTS
MARKET, BY REGION
- North America
- Asia Pacific
- Rest of the World
MARKET, BY COUNTRY
- Further Breakdown of The North America Market
- Further Breakdown of The Europe Market
- Rest of Europe
- Further Breakdown of The APAC Market
- Rest of APAC
- Further Breakdown of The Rest of the World Market
- Middle East and Africa
- Latin America
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