Danaher Corporation, Sorin Group, Companies Profiled in In-vitro Diagnostics Market are Abbott, Thermo Fisher Scientific, bioMérieux, QIAGEN, Grifols, Luminex Corporation

Growing geriatric population that is susceptible to chronic infections such as diarrhoea and tuberculosis should impact positively on business growth. According to Japan Times, as of 2017, in Japan, there are around 2 million people in the age group of 80-90 years and majority of them suffer from chronic diseases. Above-mentioned will escalate in-vitro diagnostics industry growth in foreseeable future. IVD market growth can be hampered due to high cost associated with diagnostic devices and procedures that will restrain from availing diagnosis services.

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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.
Oncology segment held USD 12.6 billion in 2017 as a result of annually rising number of cancer cases. According to Wiley Online Library in 2015, there were around 4.2 million people suffering from cancer in China. Furthermore, availability of superior quality molecular diagnostic tools has reduced the mortality rates due to cancer that will stimulate 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
• QIAGEN
• Grifols
• Danaher Corporation
• Sorin Group
• Luminex Corporation Roche Diagnostics Middle East
• Becton Dickinson
• BioRad

Hospital segment of IVD market will grow at 4.5% over the forecast timeframe due to increasing hospital admissions annually coupled with high prevalence of chronic diseases among geriatric population. Extended use of molecular diagnostics in the hospitals for detection of various rare diseases proves beneficial for in-vitro diagnostics market growth that should impact positively on business growth. As reported by Global Genes, in U.S. annually, 30 million people suffer from rare diseases that will boost IVD market growth in upcoming future.
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.

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U.S. dominated North America in-vitro diagnostic services market and was valued at USD 16.7 billion in 2017 as a result of increasing demand for diagnostic services and growing adoption rate of software. Development in public healthcare system will increase the availability of superior quality diagnostic services that should impel industry growth in upcoming years.

In-vitro Diagnostics Market, By Product Type (USD million)
o Reagents & kits
o Instruments

In-vitro Diagnostics Market, By Service Type (USD million)
o Data Management Software
o Services

In-vitro Diagnostics Market, By Technology (USD million)
o Clinical Chemistry
o Immunoassay/Immunochemistry
o Molecular Diagnostics
o Hematology
o Microbiology
o Coagulation and Hemostasis
o Urinalysis

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