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Detailed analysis on In-vitro Diagnostics Market|Key Players: Abbott, Thermo Fisher Scientific, bioMérieux, QIAGEN, Grifols, Danaher Corporation, Sorin Group, Luminex Corporation

11-01-2018 03:25 PM CET | Health & Medicine

Press release from: In Vitro Diagnostics

In-vitro Diagnostics Market

In-vitro Diagnostics Market

Rising adoption rate of automated laboratory equipment and machines will boost in-vitro diagnostics market growth over the coming years. Developed countries such as Germany and UK have progressed well in adoption of advanced technology enabling modifications in the medical diagnostic equipment and machinery. Growing implementation of technologically advanced diagnosis equipment should foster business growth. Increased accuracy offered by diagnostic devices will improve performance of surgical procedures enhancing in-vitro diagnostics industry growth in upcoming years.

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Product segment held USD 18.7 billion in the year 2017 due to increasing demand for diagnostic instruments and reagents globally. Growing burden of infectious diseases will upsurge demand for molecular diagnostics kits and reagents that will boost business growth. For instance, in India there were around 2.7 million cases of TB that created hike in the demand for in-vitro diagnostics market thereby surging segmental growth over the forecast timeframe.
In-vitro diagnostic service type segment will grow at 5.4% during the forecast period as a result of surging number of hospital-acquired infections in developed as well as developing countries. Countries such as India with poor hygiene conditions and high mortality rates will escalate the need for molecular diagnostic services. In India, around 1.4 million people suffer from hospital acquired infections that will increase the demand for service type such as blood gas analysis that should drive in-vitro diagnostics industry growth.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Abbott
• Thermo Fisher Scientific
• bioMérieux
• Grifols
• Danaher Corporation
• Sorin Group
• Luminex Corporation Roche Diagnostics Middle East
• Becton Dickinson
• BioRad

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Clinical chemistry segment accounted for 20.9% revenue share in 2017 due to wide-ranging applications including detection of blood glucose levels, hormone fluctuations and other. Rising preference of diagnosis for treatment of hormonal disorders will upsurge segmental revenue size during the forecast timeline. For instance, in India, around 1 in 10 people were diagnosed with hormonal disorders in 2017. Moreover, modifications added by the key industry players in diagnostic devices have enhanced its reliability and efficiency thereby should contribute to significant segmental revenue share over the forecast timeframe.

Global Market Insights Inc. is a global market research and management consulting company catering to leading corporations, non-profit organizations, universities and government institutions. Our main goal is to assist and partner organizations to make lasting strategic improvements and realize growth targets. Our industry research reports are designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development.

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