IVD Market is Expected to Reach $84,647 Million, Globally, By Top Leading Companies Thermo Fisher Scientific, Alere Inc, Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson, Bayer AG, Sysmex Corporation

Global IVD Market accounted for $61,103 million in 2016, and is estimated to reach at $84,647 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. In vitro diagnostic is used to detect any kind of infection and diseases by taking the specimen from the human body to cure diseases or its sequelae. These IVD products can be instruments, reagents, or any system used for the diagnosis of diseases.

Increase in incidence of chronic and infectious diseases and increase in geriatric population drive the global IVD market. In addition, growth in the number of public and private diagnostic centers, and point of caring centers is expected to fuel the market during the analysis period. Furthermore, rise in investment for the advancement of healthcare sector by government is anticipated to boost the market growth. However, stringent government regulations for the manufacturing of IVD products and inadequate reimbursement policies are expected to hamper the market growth. Ongoing R&D activities related to IVD are anticipated to present new opportunities for the growth of IVD market.

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In vitro diagnostics field has evolved with technological advancements in the diagnostic techniques and awareness about healthcare in the emerging market. IVD has a wide range of applications in the diagnosis of various diseases such as infectious diseases, diabetes, oncology/cancer, cardiology diseases, autoimmune diseases, nephrology, and HIV/AIDS. Increase in awareness about healthcare, rise in incidence of chronic and infectious disease, and cost-effective diagnostic solutions fuel the market growth. Similarly, the increase in use of automated instruments & point-of-care diagnostic solutions, rise in government expenditure on healthcare in all the regions (North America, Europe, Asia-Pacific, and LAMEA), and accurate and faster test results supplements the IVD market. Stringent regulations, policies, and unclear reimbursement rules limit the growth.

Based on product types, the reagents segment held the highest market share of three-fifths in 2016, owing to the large number of reagents introduced in the market for the diagnosis of medical conditions using IVD process.

Based on techniques, the immunodiagnostics segment contributed the highest market share of one-third in 2016, owing to the increase in usage of immunodiagnostics as these tests are the oldest and highly used techniques for the diagnosis infectious diseases, oncology detection, HIV/AIDS virus detection, and others. Based on application, the infectious diseases segment contributed the highest market share in 2016, owing to the increase in prevalence 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. IVD devices have widespread adoption in laboratories. Hence, the increased number of laboratories increases the global revenue for IVD market.

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North America accounted for two-fifths share in 2016, and is expected to dominate the market throughout the forecast period. This is attributed to increase in incidence of chronic diseases due to rise in geriatric population, well-established healthcare systems, and increase in awareness among the population toward timely diagnosis, and treatment of diseases. In addition, higher adoption rate for technologically advanced devices is anticipated to provide new growth opportunities for the key players in the market. However, Asia-Pacific is projected to grow at the highest growth rate during the analysis period, owing to rise in healthcare expenditure, increase in per capita income, growth in demand for healthcare services from large pool of patient population, and improvement in healthcare infrastructure.

The major players profiled in the global 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

Table Of Content

Chapter: 1 INTRODUCTION

1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY

1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO PERSPECTIVE

Chapter: 3 MARKET OVERVIEW

3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS

3.2.1. Top investment pockets
3.2.2. Top winning strategies

3.3. PORTER’S FIVE FORCES ANALYSIS

3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of new entrants
3.3.4. Threat of substitute
3.3.5. Competitive rivalry

3.4. MARKET SHARE ANALYSIS, 2016
3.5. MARKET DYNAMICS

3.5.1. Drivers

3.5.1.1. Increasing incidence of chronic and infectious diseases
3.5.1.2. Technological advancements in IVD
3.5.1.3. Emergence of minimal invasive technologies
3.5.1.4. Increasing government expenditures on healthcare
3.5.1.5. Increase in popularity of personalized medicine approach

3.5.2. Restraint

3.5.2.1. Unclear reimbursement policies
3.5.2.2. Stringent regulatory policies

3.5.3. Opportunity

3.5.3.1. Potential opportunities for outsourcing
3.5.3.2. Convergence of new technologies

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