In Vitro Diagnostics (IVD) Market Size 2013-2017 and Forecast 2018-2024

Global In Vitro Diagnostics (IVD) Market: Increasing expenditure on healthcare sector in emerging markets, huge demand for novel diagnostic methods for diagnosis of the diseases are expected to create demand for in vitro diagnostics. Rising adaptation of point care testing, rising incidences of lifestyle diseases are expected to boost the in vitro diagnostics market. As per 2014 report of National Diabetes Statistics states that about 9.3% of U.S. population have diabetes and about 8.1Mn people are undiagnosed, In accordance with WHO, about 5Mn deaths were recorded because of the chronic diseases like TB, Malaria, and AIDS in 2011, around 8.7 Mn cases registered due to TB. Cancer accounted for 7.9Mn deaths and anticipated to reach 11Mn by 2030. Increase in number of laboratories with sophisticated infrastructure in developed countries is the few factors expected to boost the growth of in vitro diagnostics market. However, unfavourable reimbursement policies in developing countries and strict regulatory framework are few factors that are restraining the growth of the IVD market.

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The In Vitro diagnostics (IVD) market is classified on the basis of product type, application, techniques, end user and geography.

Based on product type, in vitro diagnostics market is segmented into the following

• Reagents and consumables
• Software and services
• Instruments

Based on techniques, in vitro diagnostics market is segmented into the following

• Immunochemistry
• Molecular diagnostics
• Clinical chemistry
• Tissue diagnostics
• Haematology
• Others

Based on Application, in vitro diagnostics (IVD) market is segmented into the following

• Cancer
• Infectious disease
• Nephrological diseases
• Immune system disorders
• Gastrointestinal disorders
• Neurological disorders
• Others

Based on end user, in vitro diagnostics market is segmented into the following

• Hospitals
• Diagnostic centres
• Point-of-care testing
• Others

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Players in invitro diagnostics are focusing on acquisitions, exclusive agreements and strategic collaborations in order to expand their business. In February 2015, Roche has acquired Signature Diagnostics to strengthen its cancer diagnostics. In February 2014, Thermo Fisher Scientific has acquired Life Technologies Corporation to strengthen it’s of next-generation sequencing space segment. Different organizations are being operating in order to monitor the industry. For example, BIVDA (British In Vitro Diagnostics Association) is an association of various companies in UK which represents the manufacturers and distributers with high interest and involvement. Recently, Life Technology Corporation in Europe has launched CE-IVD Marked QuantStudio Dx Real Time PCR instrument.

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On the basis of geographical regions, is In vitro diagnostics market classified as into five key regions as Europe, Asia- Pacific, North America, Europe, Middle East & Africa and Latin America. North America is the largest market with highest share in the IVD market, which is followed by the Europe owing easy accessibility for advanced technologies, presence of large pool of manufacturers in IVD market, increasing prevalence of chronic genetic and lifestyle diseases. Asia-Pacific is expected to show fastest growth rate and also will emerge as area with maximum growth potential owing to the improving infrastructure of healthcare sector and growing economies in India and China.

The key players in this market are Becton, Dickinson and Company (U.S.), Abbott Laboratories (U.S.), Danaher Corporation (U.S.), Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Thermo Fisher Scientific, Inc. (U.S.), Sysmex Corporation (Japan), bioMérieux (France), Bio-Rad Laboratories, Inc. (U.S.), Qiagen N.V. (Germany), Diasorin S.P.A. (Italy).Ortho-Clinical Diagnostics, Inc. (U.S.), and Johnson and Johnson (U.S.).

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