Press release
North America IVD Market to reach the 33,029.10 million USD by 2025 | Prominent players - Alere Inc., Biomerieux, Thermo Fisher Scientific Inc., Danaher Corporation, Becton Dickinson and Company, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Sysmex Corpo
North America IVD Market
North America In Vitro Diagnostics (IVD) market was estimated at the USD 23,881.76 million in 2018 and it is expected to reach USD 33,029.10 million by 2025 at a compound annual rate of 4.79% over the 2018-2025 forecast period.
North America is the largest IVD market globally and is also the biggest consumer market. The San Francisco Bay Area may be often regarded as a natural home to well-established IVD device leaders accountable for spearheading industry improvements including Bio-Rad, Roche and Thermo Fisher and many other encouraging start-ups breaking into the market. Currently, it has approximately 30.0% share of the global market and would exceed the share by 2020.
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IVD market in North America is an extension stage due to an increase in incidences of infectious disorders such as tuberculosis, HIV, Rabies, AIDS, malaria, Ebola virus, and pertussis. A rise in the incidences of infectious diseases predominantly drives the IVD market.
Specialty testing, which is often more valuable than routine tests, covers tests in genetics, endocrinology, immunology, oncology, and other segments. The clinical laboratory market is extremely competitive with hundreds of providers. North America has the appearance of some of the important global players in the world that are headquartered in the USA.
North America In Vitro Diagnostics (IVD) Market Growth Analysis
The North America IVD market is on expansion due to growth in the geriatric population as the number in the volume of chronic and infectious disorders increases. From 2000 and 2050, the number of older people is anticipated to increase by 135%. In addition, the population aged 85 and above is projected to increase by 350%. Creating healthcare knowledge among the masses as well as the adoption of advance in vitro techniques for disease diagnosis is another important opportunity for the growth of the market in North America. The market is hit by the taxes implied on the IVD devices, as it adds up the marked cost.
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Geographical presence:
By geography, the North America IVD market is examined across the U.S., Canada, and Mexico. The US estimated for the highest market share in 2016, supported by Canada. Mexico is expected to witness the largest growth rate during the forecast period.
Main companies operating in this market adopt product launch as their important development strategy. Companies profiled in this market include Alere Inc., Biomerieux, Thermo Fisher Scientific Inc., Danaher Corporation, Becton Dickinson and Company, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Sysmex Corporation, Bayer AG, Johnson & Johnson, and others.
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Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
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