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In-Vitro Diagnostics Market is expected to witness faster growth in near future: Leading players are Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Roche, Biomérieux, Bio-Rad, Danaher Corp, Sysmex Corporation, and Thermo Fisher Scientific
According to Market Data Forecast, The Global In-Vitro diagnostics market has been estimated at USD 70.01 billion in 2018 and is expected to reach 91.93 billion at a Compound Annual Growth Rate (CAGR) of 5.6%.
In-Vitro diagnostics can be described as tests that can help in detecting diseases, conditions or infections. Some of these tests are performed in laboratory or healthcare settings while other tests are for consumers to use at home.
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In-Vitro diagnostics test a sample of tissue or body fluids for microbial cultures or blood glucose. They are also used for testing changes in the liver function, imbalance in calcium levels in the body and electrolytes in the blood such as sodium, urea, potassium, and Creatinine. The end users of In Vitro diagnostics market are generally Laboratories, Hospitals, Academic institutions, Point-of-care testing centers. There are around 40,000 IVD products available in the market assisting patients and specialists on a wide range of conditions
Global In-Vitro Diagnostics market is expected to witness faster growth owing to advancements and innovations in the IVD technologies. Rising geriatric population base, growing prevalence of diabetes are the key factors driving the growth of the market. Increasing recognition of the diabetic’s role in the patient care and the rapidly evolving healthcare environment due to growing awareness about various diseases are expected to drive the In-Vitro market in the forecast period. However stringent regulatory policies and unclear reimbursement policies are restraining the growth of the market.
Market Segmentation:
The global market for In-Vitro Diagnostics is segmented by product, by technology, and by an application. Based on product, the market is again sub-segmented into instruments, reagents and kits, Data management system/software and services. Based on technology, the in-vitro diagnostics market is sub-segmented into Clinical Chemistry, Hematology, immunoassays, Coagulation and Hemostasis, molecular diagnostics, microbiology, and other IVD technologies. Based on application, the market for In-Vitro diagnostics is segmented into Diabetes, Infectious Diseases, Oncology/Cancer, Cardiology, Nephrology, Autoimmune Diseases, Drug testing and HIV
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Geographical Analysis:
Based on geography global market for In-Vitro diagnostics is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle-East & Africa. North America Is the largest market for In-Vitro diagnostics accounting for a share of around 37% owing to growing prevalence of chronic diseases such as cancer and respiratory diseases in the region while Asia-Pacific is estimated to be the fastest growing segment with a CAGR of 6.4%.
Major Companies Dominating the Global In-Vitro Diagnostics Market are:
• Abbott Laboratories
• Johnson and Johnson
• Siemens Healthcare
• Becton Dickinson
• Roche Diagnostics
• Beckman Coulter Inc
• Biomérieux
• Ortho Clinical Diagnostics Inc
• Bio-Rad Laboratories Inc
• Danaher Corporation
• Sysmex Corporation
• Thermo Fisher Scientific Inc
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Reasons to Purchase this Report:
• Current and future Global In-Vitro Diagnostics Market outlook in the developed and emerging markets
• Analysis of various perspectives of the market with the help of Porter’s five forces analysis
• Identifying the segment that is expected to dominate the market
• Regions that are expected to witness the fastest growth during the forecast period
• Identify the latest developments, market shares, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet (in Excel)
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