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IVD Market in North America Is Expected to See Extensive Worldwide Growth

08-06-2020 09:41 PM CET | Health & Medicine

Press release from: Allied Market Research

North American IVD market

North American IVD market

According to a new report released by Allied Market Research titled North American IVD market by product type, technology, application and end user, global opportunity analysis and industry forecast for 2017-2023. The North American IVD market was worth $20,886 million. It is expected to reach $279 million by 2023 in 2016, and an average annual growth rate of 4.1% from 2017 to 2023.

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In vitro diagnostics is a medical device used to test biological samples such as blood, urine, feces, tissues and other body fluids. Testing can be done in standalone laboratories and hospital based laboratories. Some of the important techniques involved in in vitro diagnostics include polymerase chain reaction, microarray technology, sequencing technology and mass spectrometry, which are used to prepare test samples.

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Depending on the type of product, the Reagents segment had the highest market share in 2016 as new, more effective new reagents were introduced to the market.

The technology-based immunodiagnostics sector had the highest market share in 2016 as the prevalence of chronic diseases increased and the population's perception of tailored medicine increased.
The epidemic sector had the highest market share in 2016 due to increased prevalence of epidemics and increased medical expenditures by application.

Based on the end user, the standalone laboratory sector occupied the top market share in 2016 due to increased spending on healthcare and improved healthcare facilities.

It is analyzed in the United States, Canada and Mexico by country. The United States was the most profitable person in 2016. This is due to the high cost of health care, established health care systems and a high incidence of chronic diseases. However, Mexico is expected to grow to the highest CAGR during the analysis period due to increased spending on health care, increased per capita income and improved health care infrastructure.

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Key results of the North American IVD market:
• The reagents segment dominated the market in 2016 and is expected to grow at an annual average rate of 3.1%.
• The immunodiagnostics segment held the highest share in 2016.
• The epidemic sector was a major shareholder in 2016.
• The standalone laboratory segment was the largest in 2016.
• In 2016, the US was a shareholder.
• Mexico is expected to grow to the highest CAGR on the market.

Major companies operating in this market adopt product development as their main development strategy. Companies profiled in this market include 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 and Johnson & Johnson This includes. Among other things

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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