New Developments With Operational Updates In In-vitro Diagnostics (IVD) Market With Major Key Players Roche Diagnostics, Siemens Healthineers, Abbott Laboratories, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux
In vitro diagnostics (IVDs) are currently an important part of the healthcare sector. IVD devices and services are used in diagnosing, monitoring, and screening in various chronic and acute disorders. This further contributes to the availability of medical information related to the patient. Due to specificity of treatments, IVDs is expected to minimize the stay of the patients in hospitals and convalescences, which results in healthier population and cost effective treatment that favors economic growth in the long run. IVD plays an important role in the global healthcare industry as it is the initial point of any treatment for getting information regarding the ailments. The IVD market is projected to witness rapid growth fueled by advancements in various diagnosing and medical devices technologies with developed tools in diagnostics, early detection of the disease along with rise in availability of over-the-counter tests.
Due to the application of IVDs in medical care it adds a significant value in the planned treatment processes enhancing better health results. Furthermore, in vitro diagnostics are the sequences of tests that are able to detect diseases symptoms through which physician can conclude the type of treatment to be given to the patient in very short period of time depending upon the quality of medical. There are various government guidelines to regulate the type of in vitro diagnostic tests. According to the FDA, the in vitro diagnostic devices are regulated through the Medical Device Amendments of 1976, which further divides the in vitro diagnostic products into three class such as class I, II and III that includes the products depending upon the level of regulatory control that can assure the safety and effectiveness.
Download the PDF brochure:
Infectious diseases segment accounted for the highest revenue in the in-vitro diagnostics market
Among application, infectious diseases segment accounted for the highest revenue in the in-vitro diagnostics (IVD) market. The segment is expected to grow by 1.5X at a CAGR of 4.4% between 2016 and 2024. The prevalence of infectious diseases has increased considerably over the past few years. In 2016, morbidity cases in tuberculosis, salmonella and meningococcal disease was as high as 90,000 in the U.S. These factors have led to increasing demand for IVD from diagnostic centers, thereby driving growth of the market. As per the Centers for Disease Control and Prevention (CDC), over 3.9 million patients visited hospital outpatient department for infectious and parasitic diseases. The demand for IVD is expected to increase, as it is largely used for the detection of autoimmune disorders and infectious diseases.
North America is expected to dominate the market revenue throughout the forecast period
North America is highest contributing region for In vitro diagnostics (IVD) market, with a projected market share of 46.7% by 2024, expanding at the fastest CAGR of 5.4% between 2016 and 2024. Changing healthcare landscape, favorable regulatory policies such as Medicaid and Medicare along with significant healthcare spending (16.7%) is expected to boost the market for IVD in the region. Though the market outlook seems lucrative in North America, reimbursement pressure, increased usage of companion diagnostic and significant growth potential of next generation sequencing (NGS) are key challenges for the industry players in the North America. Companion diagnostics market is proliferating at faster market pace compared to IVD. As such, product innovation in the segment is the key focus area for market players. North America has also seen some of the major mergers and acquisitions in the recent past, to tap into market opportunities. For instance, Roche acquired Ventana Medical in 2008. In 2011, Novartis acquired Genoptix to capture a greater chunk of market in the U.S.
Market players need to invest in R&D and follow inorganic growth to generate high ROI in longer run
Market players are focused towards research and development to expand their business reach in the market. Moreover, industry players are focused towards generating revenue from respective key product segment. For instance, while Roche and Siemens are active players in clinical chemistry IVD product segment, Allere and Abbott holds key market share in point of care IVD solutions. Furthermore, the In vitro diagnostics (IVD) market is expected to witness mergers and acquisition in near future, wherein leading players are expected to acquire regional companies based in emerging economies. Similar trends have been noticed in recent past where leading players acquired/partnered with regional players. For instance, Roche acquired majority stake in Foundation medicine with US$ 1.2 Bn in 2015.
Get HOLISTIC Request Sample Copy Of This Business Report:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release New Developments With Operational Updates In In-vitro Diagnostics (IVD) Market With Major Key Players Roche Diagnostics, Siemens Healthineers, Abbott Laboratories, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux here
News-ID: 1428640 • Views: 230
More Releases from Coherent Market Insights - Biotechnology
Wearable Patch Market 2030 Emerging Trends and Global Demand During the COVID-19 …
Coherent Market Insights published a report, titled,"Wearable Patch Market, by Technology (Connected and Regular), by Application (Monitoring, Drug Delivery, and Diagnostics), by End User (Healthcare and Fitness & Sports), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027." Wearable patches are used for monitoring and diagnosis of chronic diseases. Increasing prevalence of diseases such as atrial
Recombinant Protein Market To Witness Robust Expansion Throughout The Forecast P …
Recombinant proteins have immense potential in cancer therapy research and development. For instance, growth factors, immune checkpoint, and cell damage & oxidative stress proteins (preclinical stage) are utilized from recombinant proteins category for cancer therapy research. Increased understanding of oncogenic signaling pathways and proteins involved in the same has increased the targeting ways, wherein, recombinant proteins such as immune checkpoint, growth factors, and antibodies are used. These proteins are used
Biosimilar Pipeline Analysis Market Outlook 2019: Rapidly Develop by key Players …
Biosimilar market is under the initial phase of development, they are used for the treatment of various disorders such as autoimmune disease, cancer as per National Institute of Health 2012 report, there were more than 23.5 million people living with autoimmune disease in the U.S. and low pricing of biosimilar drugs make them affordable for people. The same mechanism of action provides effective treatment for disease along with increased awareness
Cancer Biomarkers Market Rapid Growth 2019 by leading players BioMerieux S.A., B …
The global cancer biomarkers market is projected to witness significant growth over the forecast period, owing to rising incidence and prevalence of various cancer types, including breast cancer, lung cancer, kidney cancer, liver cancer, prostate cancer, and among others. Moreover, other factors impacting growth of cancer biomarkers market includes rising research and development activities in developing cancer biomarker and rising demand for personalized medicine in cancer therapies. Free Request Sample Copy
More Releases for IVD
Asia IVD Market
According to a new report published by Allied Market Research, the Asia Pacific In-vitro diagnostics market was valued at $12.9 billion in 2015, and is expected to reach $19.0 billion registering a CAGR of 5.6% during 2016 to 2022. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario. Download Free Sample Report @ https://www.alliedmarketresearch.com/request-sample/1256 The Asia-Pacific IVD market is
LAMEA IVD Market | Business Development Strategies
LAMEA IVD market size was valued at $7,413 million in 2016, and is projected to reach at $10,316 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. The immunodiagnostics segment accounted for more than two-ninths share of the total market in 2016. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/4137 In vitro diagnostics (IVD) are medical devices and reagents used for examination of the body samples such as blood, tissue, and
Global IVD Products Market Research Report
This report studies the global IVD Products market status and forecast, categorizes the global IVD Products market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia). The major manufacturers covered in this report Abbott Laboratories Danaher Corporation Johnson and Johnson Roche Diagnostics Siemens Healthcare BD Biomerieux Bio-Rad Laboratories Ortho Clinical
Europe IVD Market to Witness $19,124 Million Value by 2023
According to a new report published by Allied Market Research, titled, Europe IVD Market by Product Type, Techniques, Application, and End Users: Global Opportunity Analysis and Industry Forecast, 2017-2023, Europe IVD market was valued at $19,124 million in 2016, and is projected to reach at $26,623 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. In vitro diagnostic tests are performed using biological samples to detect the
Global IVD Reagents Market Applications & Strategies, 2022
Qyresearchreports include new market research report "Global IVD Reagents Market Research Report 2017" to its huge collection of research reports. The market study on the global IVD Reagents market is a professional tool that scrutinizes vital market indicators to understand the progression of the said between 2017-2022. The research report on the global IVD Reagents market studies historical and current performance, which are used to provide projections for crucial market indices.
IVD Market– Projections & Estimations, 2017–2023
Big Market Research added a report on “IVD Market By Product Type (Reagents, Instruments And Software & Services), By Technique (Immunodiagnostics, Blood Testing, Molecular Diagnostics, Tissue Diagnostics, Clinical Chemistry, And Other IVD Techniques), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, And Other Indications), And By End Users (Standalone Laboratory, Hospitals, Academic And Medical Schools, Point Of Care Testing, And Others) - Global Opportunity