Asia IVD Market
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The Asia-Pacific IVD market is categorized into several diagnostic techniques, among which, the immunodiagnostic and clinical chemistry segments hold the dominant share collectively accounting for half of the market share in 2015. The growing trend of diagnostic tools such as, clinical chemistry and molecular diagnostic would largely drive the market growth during the forecast period. However, blood testing is projected to be the fastest growing segment, owing to its frequent application and inherent convenience of using blood samples.
Increasing government initiatives, growing R&D activities for advanced diagnostics techniques, improving healthcare infrastructure, and rising per capita healthcare expenditure largely drive the Asia Pacific IVD market growth. On the other hand, lack of harmonization in regulatory guidelines coupled with inadequate reimbursement policies and technological barriers are hindering the market growth. However, the wide scope of application in various biological and medical diagnostics industries to create lucrative opportunities in the near future.
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Key findings of the study:
Infectious diseases segment is expected to maintain its foothold in the Asia-Pacific IVD market.
Cancer is projected to be the fastest growing application segment during the forecast period.
In 2015, infectious diseases and immune system disorders collectively accounted for about half of the Asia-Pacific IVD indication market.
Asia-Pacific IVD Instruments market is projected to witness the highest CAGR of 7.1% during the forecast period.
India is forecasted to be the fastest growing market, growing at a CAGR of 7.1% from 2016 to 2022.
In 2015, China and Japan collectively accounted for around two-third of the Asia Pacific IVD market revenue.
The leading companies profiled in this report are, F. Hoffmann-La Roche AGR, Abbott Laboratories, Danaher Corporation, Johnson & Johnson, Sysmex Corporation, Becton Dickinson and Company, bioMrieux, Thermo Fisher Scientific, Inc., Ortho-Clinical Diagnostics, Siemens AG, and Alere Inc, Vela Diagnostics, Affymetrix, Alere Inc., Bio-Rad Laboratories, Arkray Inc., Sysmex Corporation, and Trans Asia BioMedicals Ltd. They have adopted different strategies such as mergers & acquisitions, partnerships, collaborations, new product launches, and others to gain a strong position in the global industry.
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