The Global In-Vitro Diagnostics Market Is Valued At Nearly $57 Billion In 2017 According To TBRC’s Latest Report

In-vitro diagnostics (IVD) are used to detect diseases, infections, and conditions and also monitor a person’s state of health and therapeutic procedures by examining specimens derived from the human body such as tissue, blood, stools, urine and the other body fluids. Significant technologies incorporated in in-vitro diagnostics are polymerase chain reaction, microarray techniques, sequencing technology and mass spectrometry, which are used for test sample preparation.

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The market is valued at nearly $57 billion in 2017 because of the companies in this market are working towards constant innovation in design and technology to make these devices more sensitive, user-friendly and faster. They are continuously investing funds and resources into R&D to increase the scope of their devices and also to increase their market share in the global in-vitro diagnostics market.

The market in the report is segmented into: point-of-care diagnostics, immunochemistry, clinical chemistry, molecular diagnostics, microbiology, hemostasis, hematology and immunohematology.

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The USA was the largest country in the in-vitro diagnostics market in 2017, accounting for one-fifth of the market share followed by China and Germany.

The top five competitors in the market made up more than four-fifth of the total market in 2017. Siemens Healthineers was the largest competitor, followed by F. Hoffmann-La Roche Ltd, Danaher (Beckman Coulter Inc), Abbott Laboratories Inc. and Thermo Fisher Scientific, Inc.

Siemens Healthineers is a medical technology company and is headquartered in Erlangen, Germany. Siemens Healthineers is the separately managed healthcare business of Siemens AG enabling healthcare providers worldwide to meet their current challenges and to excel in their respective environments. A leader in medical technology, Siemens Healthineers is constantly innovating its portfolio of products and services in its core areas of diagnostic and therapeutic imaging and in laboratory diagnostics and molecular medicine.

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