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Germany IVD Market - Increasing Awareness of IVD-Related R & D and Prophylactic Medical Measures Gives the Market Wonderful Growth Potential

02-26-2019 10:48 AM CET | Health & Medicine

Press release from: Allied Market Research

Germany IVD Market

Germany IVD Market

The German IVD market is expected to reach $ 545 million by 2023, an annual CAGR of 5.5% from 2017 through 2023. In 2016, the immunodiagnostic sector accounted for one-third of the total market.

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 infections, cancer, cardiovascular immunology, kidneys and gastrointestinal disorders are diagnosed in vitro.

Continuous innovations in IVD product design and technological advances have allowed the patient to perform diagnostic tests at home, which has led the patient to shift focus from traditional medical methods to personalized medicines.

Market growth is accelerating with IVD effectiveness, increased elderly population, increased incidence and prevalence of epidemics and chronic diseases, and ongoing technology developments to increase laboratory outsourcing in Germany. However, adverse reimbursement policies and strict government regulations on IVD safety and efficacy are expected to curb market growth during the forecast period. Increasing awareness of IVD-related R & D and prophylactic medical measures gives the IVD market tremendous growth potential.

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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

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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