In-Vitro Diagnostic (IVD) Market Trends Global Industry Analysis, Top Key Manufacturers, Share, Demand, Growth Opportunities - P&S Intelligence

The global in-vitro diagnostic (IVD) market is growing significantly due to innovative condition specific markers for advance genomic and proteomic services in the industry. Massive unexplored market in in-vitro diagnostic industry of developing economies are creating ample opportunities for the in-vitro diagnostic market to grow at a considerable rate in the coming years. The advanced research and development facilities in molecular diagnosis, new product developments and increasing investments by the companies are further accelerating the demand of in-vitro diagnostic in the industry. In addition, innovative launch of various techniques, having application in multiple therapeutic areas, are supporting the growth of in-vitro diagnostic market in the coming years.

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The various end users of in-vitro diagnosis include laboratories, hospitals, patient self-testing, academic institutes, point-of-care testing, and others. Infectious disease segment lead the in-vitro diagnostics market under the application category. The oncology segment is the fastest growing application category, due to increasing prevalence of cancer worldwide. The reagent segment leads the in-vitro diagnostics market under product and services category, due to increasing demand for highly sensitive and accurate diagnostic tests.

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Some of the factors driving the growth of the global in-vitro diagnostic market are rise in geriatric population, increasing prevalence of chronic lifestyle associated diseases, increasing prevalence of infectious diseases, growing awareness of personalized medicine and increasing adoption of point-of-care testing. However, strict regulatory framework, and inadequate reimbursement are some of the factors restraining the growth of the in-vitro diagnostic market to an extent.

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Some of the companies operating in the in-vitro diagnostic market are Roche Diagnostics, Abbott Laboratories, Ortho Clinical Diagnostics, Inc., Biomerieux, Thermo Fisher Scientific, Inc., Siemens Healthcare, Johnson & Johnson, Becton Dickinson and Company, Danaher Corporation, Sysmex Corporation, and Bio-Rad Laboratories, Inc.

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