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Germany In-vitro Diagnostic Services Market Outlook (2018-2024)|key Venddors: BioRad, DexCom, Nova Biomedical, OraSure, Pearl Pathways, Phenomenex, Qiagen, Roche diagnostics, Siemens, Sysmex and Thermofisher.

IVD Services Market

IVD Services Market

Germany market was valued at USD 1.4 billion in 2017. Business growth in the country will be triggered by rising adoption of technologically advanced diagnostic devices. Also, availability of improvised quality diagnostic devices used in blood, urine and other infectious diseases diagnosis coupled with development of reimbursement scenario will stimulate industry growth over the coming years.

With rapid developments in diagnostic testing technology, the global in-vitro diagnostic services market, over the recent years has significantly attracted the interest of investors and major healthcare providers. In fact, according to statistics, diagnosis and clinical testing is used in more than 70% of healthcare decisions and can help provide targeted therapy at much lower costs. The global in-vitro diagnostic services market, in this regard is making a strong headway in the healthcare sector and was worth USD 44 billion in 2017.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

• BioRad
• DexCom
• Nova Biomedical
• OraSure
• Pearl Pathways
• Phenomenex
• Qiagen
• Roche diagnostics
• Siemens
• Sysmex and Thermofisher.

Software in-vitro diagnostic services market to emerge as lucrative investment spot over 2018-2024

Of the two in-vitro diagnostic services, which includes software and testing services, the software segment is gaining immense traction lately. If industry analysts are to be believed, the software diagnostic services are favorably driving the digital transformation in the healthcare industry and are therefore being adopted by several hospitals and point-of-care testing centers. These software services moreover are playing an increasingly significant role in the drug discovery processes via gene sequencing analysis, which is why this segment is expected to be a potential investment ground. Estimates claim the global software in-vitro diagnostic services market to record a CAGR of 4.5% over 2018-2024.

Analyzing the massive growth potential, it is prudent to mention that several prominent industry behemoths are adopting market growth strategies such as M&As, partnerships, JVs, and R&D to expand their business in software diagnostics services. Recently for instance, Roche Diagnostics, partnered with tech-giants such as Microsoft and Cleidon to expand software offering services for providing better healthcare solutions as well as for global business expansion.

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How industrial and governmental backing is influencing the commercialization potential of in-vitro diagnostic services market?

Recently, in June 2018, NAMSA, the world’s only Medical Research Organization (MRO) that helps accelerate the development of medical devices through integrated clinical research, laboratory testing, and regulatory consulting services has successfully launched its in-vitro diagnostics development business. This platform, according to reports is expected to provide the global manufacturers a proven resource for commercializing the outcomes delivered via NAMSA’s clinical research services.

These regulatory and clinical services have grabbed the attention of several healthcare providers for a more rapid treatment and diagnosis plans, in turn intensifying in-vitro diagnostic services market demand. Reports cite that the sponsors, who have limited options for IVD-focused CRO (Contract Research Organizations) will benefit majorly from these new service offerings.

In line with such increasing support from the competitive landscape and with the advent of new technologies such as big data analytics, cloud computing, and Internet of Things, the in-vitro diagnostic services market has emerged as a profitable business sphere of the healthcare industry. All in all, the rising prevalence of cancer and other chronic disease and the supportive competitive scenario is further likely to enrich the growth dynamics of global in-vitro diagnostic services industry in the coming years. The global in-vitro diagnostic services market is forecast to cross USD 63 billion by 2024, as compiled by Global Market Insights, Inc.

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https://www.gminsights.com/industry-analysis/clinical-trial-management-system-ctms-market

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
Web: www.gminsights.com

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