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In Vitro Diagnostics (IVD) Market Worldwide Growth & Opportunity Analysis 2025 | Leading Players Abbott Laboratories, Becton, Dickinson and Company, BioMrieux SA

04-02-2019 08:44 AM CET | Health & Medicine

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
In Vitro Diagnostics (IVD) Market

In Vitro Diagnostics (IVD) Market

According to a new report published by Allied Market Research the market was valued at $64,479 million in 2017, and is projected to reach $93,614 million by 2025, growing at a CAGR of 4.8% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.

In vitro diagnostics (IVD) field has evolved with technological advancements in the diagnostic techniques and awareness about healthcare in the emerging market. IVD has a wide range of applications in the diagnosis of various diseases such as infectious diseases, diabetes, oncology/cancer, cardiology diseases, autoimmune diseases, nephrology, and HIV/AIDS.

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Increase in awareness about healthcare, rise in incidence of chronic and infectious disease, and cost-effective diagnostic solutions fuel the market growth. Similarly, increase in use of automated instruments & point-of-care diagnostic solutions, rise in government expenditure on healthcare in all the regions (North America, Europe, Asia-Pacific, and LAMEA), and accurate and faster test results are expected to boost the growth of the global IVD market. On the contrary, stringent regulations, policies, and unclear reimbursement rules are anticipated to restrain the market growth.

Key Market Players:
• Abbott Laboratories
• Becton
• Dickinson and Company
• bioMrieux SA
• Bio-Rad Laboratories Inc.
• Danaher Corporation (Beckman Coulter Inc.)
• F. Hoffmann-La Roche Ltd.
• Johnson & Johnson

Based on product type, the reagents segment accounted the highest market share in 2017 due to the large number of reagents introduced in the market for the diagnosis of medical conditions using IVD process.

Based on techniques, the immunodiagnostics segment contributed the highest market share in 2017 due to the increase in usage of immunodiagnostics as these tests are the oldest and highly used techniques for the diagnosis infectious diseases, oncology detection, HIV/AIDS virus detection, and others.

Based on application, the infectious diseases segment contributed the highest market share in 2017 due to increase in prevalence of infectious diseases and rise in awareness of preventive health measures.

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Key Findings of the In Vitro Diagnostics Market:
• North America occupied nearly one-thirds share of the global IVD market in 2017.
• The instruments segment is anticipated to grow with the highest CAGR throughout the forecast period.
• The immunodiagnostics segment accounted for around one-third share of the global IVD market in 2017.
• Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA.

North America is expected to be the leading regional market for IVD through 2025 due to its well-penetrated healthcare system and higher healthcare awareness among the patients, including Obamas Affordable Care Act (ACA), change in technology, and rebounding American Economy. However, Asia-Pacific is expected to grow at the highest CAGR of 5.9% from 2018 to 2025 due to significant increase in the number of well-equipped hospitals with advanced healthcare systems to cater the needs of the large patient population.

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About Us:

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.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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