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Germany IVD Market: Including Top Companies ThermoFisher 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 among o

01-04-2019 11:07 AM CET | Health & Medicine

Press release from: Allied Market Research

Germany IVD Market

Germany IVD Market

The German IVD market is valued at $ 3,727 million in 2016 and is expected to reach $ 545 million by 2023, an annual average growth rate of 5.5% from 2017 to 2023. Immunodiagnostics accounted for one-third of the total market. 2016

In Vitro Diagnosis plays an important role in the medical field for the early diagnosis, diagnosis and treatment of various diseases and disorders. Diseases such as infection, cancer, cardiovascular immunology, kidney and gastrointestinal disease are diagnosed in vitro. Because of the constant innovation of IVD product design and technological advances, we were able to perform diagnostic tests at home, which led patients to shift their focus from traditional medical methods to customized medicines.

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The major players profiled in the Germany 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
• Johnson & Johnson

The market grows due to IVD efficacy, increased elderly population, increased incidence and prevalence of epidemics and chronic diseases, and ongoing technology development to increase lab outsourcing in Germany.

However, unfavorable reimbursement policies and stringent government regulations related to the safety and efficacy of the IVD are expected to restrain the market growth during the forecast period. Ongoing R&D associated with the IVD and increase in awareness of preventive healthcare measures provides huge growth potential for IVD market.

Based on product type, the reagents segment held the highest market share in 2016, owing to the recent introduction of new novel reagents in the market that are more effective.

Based on techniques, the immunodiagnostics segment contributed the highest market share in 2016, owing to the increase in prevalence of chronic and infectious diseases and rise in awareness of personalized medicine among the population.

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 user, the standalone laboratory segment captured the highest market share in 2016, mainly due to wide availability of complex tests and high-tech infrastructure enabling fast and accurate test results.

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Key Findings of the Germany IVD Market:
• The reagent segment dominated the market in 2016, and is projected to grow at the highest CAGR.
• The immunodiagnostics segment accounted for the highest share of one-third of total in 2016.
• The infectious diseases segment was the major shareholder in the Germany IVD based application market in 2016.
• The standalone laboratory segment accounted for the highest share of in 2016.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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