In Vitro Diagnostics Market Set Worth US$ 78.74 Billion by 2023 - Leading at 5.5% Growth Rate, Worldwide

Global In Vitro Diagnostics market is projected to reach USD 78.74 billion by 2021, at a CAGR of 5.5% during to 2021. Growth in this market is majorly driven by increasing prevalence of diseases such as diabetes, cardiovascular diseases, and across globe and shift in focus from centralized laboratories to decentralized point-of-care testing is also support the growth of the In Vitro Diagnostics market.

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The field of in-vitro diagnostics has witnessed several changes and additions to its gamut of offerings in the recent past. There has been a paradigm shift from traditional diagnostics to a new generation diagnostics that work on the gene level. This was possible due to the inclusion of advanced technology, such as genetic testing, molecular diagnostics, Polymerase Chain Reaction (PCR), and Next-Generation Sequencing (NGS).

The key players in vitro diagnostics market are Roche Diagnostics (Switzerland), Abbott Laboratories (U.S.), Siemens Healthineers (Germany), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Sysmex Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), bioMérieux (France), and Becton, Dickinson and Company (U.S.), Johnson and Johnson (U.S.), Qiagen N.V. (Germany), Ortho-Clinical Diagnostics, Inc. (U.S.), and Diasorin S.P.A. (Italy).

In this report, global In Vitro Diagnostics market segmented by products & services, technology, application, end user, and region. Based on technology, In Vitro Diagnostics market is mainly segmented into immunoassays/immunochemistry, clinical chemistry, molecular diagnostics, hematology, clinical microbiology, coagulation & hemostasis, and other technologies.

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North America commanded largest share of In Vitro Diagnostics market, followed by Europe. U.S. is a prime market for In Vitro Diagnostics market due to rising acceptance of point-of-care diagnostics and patient self-testing practices in country.

In vitro diagnostics market is segmented into diabetes, infectious diseases, oncology/cancer, cardiology, HIV/AIDS, autoimmune diseases, nephrology, drug testing/pharmacogenomics, and other applications. In 2015, the infectious diseases segment accounted for the largest share of the IVD market.

In-vitro diagnostic are the tests performed outside the human body in an artificial environment. Demand for in-vitro diagnosis is increasing due to increasing prevalence of chronic diseases. According to Centre for Disease Control and Prevention, in 2012, approximately 117 million people had some of the chronic diseases in the U.S. In order to diagnose various conditions, such as infectious disease, sexually transmitted diseases, oncology, chronic diseases, and genetic testing, the number of diagnostic tests are increasing.

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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for increasing their market shares.

Research Coverage:
• Detailed insights on all submarkets, based on technology (immunoassays/immunochemistry, clinical chemistry, molecular diagnostics, hematology, clinical microbiology, coagulation & hemostasis, and other technologies), this can help market players to identify high growth segments in IVD market.
• The report also provides information on key players in this market and their growth strategies and recent developments. This can help the company to assess competition at global and regional levels in a better manner.

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