UK IVD Market Expected to Show increasing Value $3,127 Million by 2023

"Immunodiagnostics occupied the highest share of the market in 2016 and is expected to maintain the lead during the forecast period owing to introduction of novel regents and increase in R&D."

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According to a new report published by Allied Market Research, titled, "UK IVD Market by Product Type, Techniques, Application and End-Users: Global Opportunity Analysis and Industry Forecast, 2017-2023," UK IVD market accounted for $ 2,148 million in 2016, and is estimated to reach $3,127 million by 2023, growing at a CAGR of 5.4% during the analysis period (2017-2023).

In Vitro Diagnostics (IVD) is a technique used to analyze biological samples such as blood, urine, feces, tissue and other body fluids. Testing is also performed in stand-alone and hospital-based laboratories. Some of the important techniques involved in in vitro diagnostics include polymerase chain reaction, microarray technology, sequencing technology, and mass spectrometry, which are used to prepare test samples.

Depending on the product type, the reagent sector maintained its largest market share in 2016 due to the introduction of new reagent R & D in the chemical sector.

Due to the spread of chronic diseases and the growing demand for minimally invasive technologies based on this technology, the immunodiagnosis sector had the largest market share in 2016.

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Based on application, the infectious diseases segment contributed the highest market share in 2016, due to high rate of the incidences of infectious diseases and rise in awareness of preventive health measures.

Based on end users, the standalone laboratory segment captured the highest market share in 2016, mainly due to wide availability of complex tests and high-tech infrastructure enabling fast and accurate test results.

Key Findings of the UK IVD Market:

• The immunodiagnostics segment dominated the market in 2016, and is projected to grow at the 5.6% CAGR.
• The immunodiagnostics segment accounted for the highest share in 2016.
• The pathology segment was the major shareholder in the UK IVD based application market in 2016.
• The standalone laboratory segment accounted for the highest share in 2016.
• UK is expected to grow at the highest CAGR in the IVD market.

The major players profiled in the UK IVD market are Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson.

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