Germany IVD Market Is Expected To Register the Highest Growth, Growing at a CAGR Of 5.5% during the Forecast Period

The use of VD technology is expected to increase significantly as disease diagnosis increases. In addition, the IVD market has attracted the attention of the healthcare industry in combination with a wide range of applications ranging from high accuracy, precision technology and a variety of signs of disease.

According to a new report published in Allied Market Research (Product Types, Technology, Applications and End Users by Industry: Opportunity Analysis and Industry Outlook, 2017-2023), the German IVD market was valued at $ 3,727 million in 2016. It is expected to grow at a CAGR of 5.5% from 2017 to 2023, reaching $ 545 million by 2023. The immunodiagnosis sector accounted for more than a third of the market in 2016.

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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.

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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