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Why will In-Vitro Diagnostic Market Grow Explosively in Asia-Pacific During 2020—2030?
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Furthermore, this number is predicted to grow to 486 million by 2045. As per the findings of the World Health Organization (WHO), cancer claimed as many as 9.6 million lives in 2018. The Joint United Nations Programme on HIV/AIDS (UNAIDS) found that 37.9 million people around the world suffered from HIV/AIDS in 2018. The high occurrence of these diseases is boosting the demand for IVD testing, which is, in turn, propelling the growth of the market.
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Based on offering, the in-vitro diagnostic market is divided into software & services, instruments, and reagents & kits. Out of these, the reagents & kits category is predicted to dominate the market in the future years. The increasing number of IVD tests being performed all over the world, because of the ballooning prevalence of infectious and chronic diseases and the surging number of research activities, is driving the advancement of this category in the market in the forthcoming years.
Hence, it can be said without any hesitation that the market would boom in the future years, primarily because of the increasing requirement for blood donations and the growing enactment of several strict policies regarding blood contamination in several countries around the world.
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