Press release
In-vitro diagnostics (IVD) Market in UK Size to hit $3.1 billion by 2023, Top Prominent Players: Bio-Rad Laboratories, Bayer AG
IVD Market
UK IVD market accounted for $2.1 billion in 2016, and is estimated to reach $3.1 billion by 2023, growing at a CAGR of 5.4% during the analysis period (2017-2023).
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COVID-19 scenario-
• Although a number of industries have been badly impacted by the pandemic, little damage has been caused to the global IVD market. With much awareness about healthcare among people, high-end medical devices are being used for proper diagnosis of diseases.
• However, the global lockdown has created certain disruptions in manufacturing In Vitro Diagnostic instruments that work on different techniques. But, simultaneously, the government bodies in several regions have now come up with certain relaxations on the existing regulations. This has allowed the market to recoup its position in terms of revenue.
In-vitro diagnostics (IVD) is the technique in which medical devices and reagents are utilized to analyze biological samples such as blood, urine, stool, tissues, and other body fluids, derived from the human body to detect diseases and infections. In addition, the tests are performed in stand-alone laboratory, and hospital-based laboratory. Some of the significant technologies incorporated in in vitro diagnostics include polymerase chain reaction, microarray techniques, sequencing technology and mass spectrometry, which are used for test sample preparation
Based on product type, the reagents segment held the highest market share in 2016, owing to the recent introduction of new reagents R&D in the filed for chemical science.
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Based on technique, the immunodiagnostics segment contributed the highest market share in 2016, owing to the increase in prevalence of chronic diseases and rise in demand for minimally invasive technique.
Based on application, the infectious diseases segment contributed the highest market share in 2016, due to high rate of the incidences of infectious diseases and rise in awareness of preventive health measures.
Based on end users, the standalone laboratory segment captured the highest market share in 2016, mainly due to wide availability of complex tests and high-tech infrastructure enabling fast and accurate test results.
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The Major Key Players Are:
• 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
• Johnson & Johnson.
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