Highest Revenue in The In-Vitro Diagnostics Market 2019: By Leading Companies Roche Diagnostics, Siemens Healthineers, Abbott Laboratories, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux, Becton, Dickinson

In vitro diagnostics (IVDs) are currently an important part of the healthcare sector. IVD devices and services are used in diagnosing, monitoring, and screening in various chronic and acute disorders. This further contributes to the availability of medical information related to the patient. Due to specificity of treatments, IVDs is expected to minimize the stay of the patients in hospitals and convalescences, which results in healthier population and cost effective treatment that favors economic growth in the long run. IVD plays an important role in the global healthcare industry as it is the initial point of any treatment for getting information regarding the ailments.

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The IVD market is projected to witness rapid growth fueled by advancements in various diagnosing and medical devices technologies with developed tools in diagnostics, early detection of the disease along with rise in availability of over-the-counter tests. Due to the application of IVDs in medical care it adds a significant value in the planned treatment processes enhancing better health results.

Among application, infectious diseases segment accounted for the highest revenue in the in-vitro diagnostics (IVD) market. The segment is expected to grow by 1.5X at a CAGR of 4.4% between 2016 and 2024. The prevalence of infectious diseases has increased considerably over the past few years. In 2016, morbidity cases in tuberculosis, salmonella and meningococcal disease was as high as 90,000 in the U.S. These factors have led to increasing demand for IVD from diagnostic centers, thereby driving growth of the market. As per the Centers for Disease Control and Prevention (CDC), over 3.9 million patients visited hospital outpatient department for infectious and parasitic diseases. The demand for IVD is expected to increase, as it is largely used for the detection of autoimmune disorders and infectious diseases.

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Market players are focused on expanding their product portfolio with wide applications of the IVD in healthcare sector, which is expected to offer various choices to the physicians for the appropriate type of test in particular symptoms, which is further expected to favor growth of IVD market in near future. Key players in the IVD market are focused on inorganic growth strategies such as mergers and acquisitions to maintain leading position in the market. For instance, in 2015, Roche acquired Signature Diagnostics AG – based in Potsdam, Germany, which is expected further to strengthen the company’s next generation sequencing (NGS) diagnostic segment.

For instance, while Roche and Siemens are active players in clinical chemistry IVD product segment, Allere and Abbott holds key market share in point of care IVD solutions. Furthermore, the In vitro diagnostics (IVD) market is expected to witness mergers and acquisition in near future, wherein leading players are expected to acquire regional companies based in emerging economies. Similar trends have been noticed in recent past where leading players acquired/partnered with regional players. For instance, Roche acquired majority stake in Foundation medicine with US$ 1.2 Bn in 2015.

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Some of the major players are Roche Diagnostics, Siemens Healthineers, Abbott Laboratories, Sysmex Corporation, Bio-Rad Laboratories, bioMérieux, Becton, Dickinson and Company and Danaher Corporation

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