Lithuania IVD Market Opportunities, Business Forecast To 2029

The global lithuania ivd market size was valued at Euro 42.5 million in 2022 and is poised to grow at a significant CAGR of 3.6% during the forecast period 2023-2029. The number of molecular diagnostic tests significantly increased over the year across Lithuania due to the following factors such as the incidence of respiratory infections, adoption of molecular tests for clinical samples, and faster and more precise results. Laboratories are actively adopting molecular testing for other infectious diseases, such as Hepatitis B and C, Human Immunodeficiency Virus (HIV), Cytomegalovirus (CMV), Epstein - Barr virus (EBV), Tuberculosis, Sexually Transmitted Diseases (STDs), Hospital Acquired Infections, Respiratory Infections, and others. Tissue-based diagnostic testing remains a widely accepted method for diagnosing cancer, often considered a gold standard. No other technology currently available can provide the same comprehensive understanding of the disease's biological and critical factors that impact patient prognosis. Sequencing refers to a series of procedure used to determine the fundamental structure of DNA, RNA, protein, or carbohydrate. This process generates a symbolic representation of the monomeric subunits, summarizing a significant portion of the molecule's atomic structure. In 2022, approximately 400.7 thousand tissue diagnostic procedures took place in Lithuania, among all the staining techniques, 73% were H&E stains, 16% were special stains, and 10% were advanced stains.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/lithuania-ivd-market

Molecular Diagnostic Segment to Dominate the Lithuania IVD Market:
The technology segment in the Lithuania IVD Market is segmented into Molecular diagnostics, Tissue Diagnostics, and Sequencing. Molecular diagnostic tests can provide more accurate and timely diagnoses for various infectious diseases, genetic disorders, and other conditions. Molecular diagnostic techniques, such as polymerase chain reaction (PCR) and next-generation sequencing, have become more accessible and cost-effective in recent years. Recently, the COVID-19 outbreak accounted for the highest market value in Lithuania IVD market. In 2022, COVID-19 tests accounted for the market value of Euro 30.6 Mn. Various private laboratories such as UAB Diagnostikos laboratorija, UAB Medicina practica'laboratorija, UAB SK IMPEKS MEDICINOS DIAGNOSTIKOS CENTRAS, UAB Invitro diagnostika, UAB Baltic Medics, and UAB Revolab are a few private laboratories offering the COVID-19 testing services in Lithuania.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The Lithuania IVD Market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, collaboration, acquisition, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In February 2021, Rezus.lt Lab won tender to provide Coronavirus testing services at Lithuanian Airports. The network of Lithuanian Airports comprises of three air gateways in Vilnius, Kaunas and Palanga. In 2020, Seegene sold reagents at a price of Euros 9.5 and 6.3 due to the demand for COVID-19 tests prices of the kits are grossly varied from manufacturer to manufacturer.

Based on the Technology, the market is segmented into the following:
• Molecular Diagnostics
• Tissue Diagnostics
• Sequencing

Request sample report at https://www.precisionbusinessinsights.com/request-sample/?product_id=299045

Key players' profiles in the lithuania ivd market QIAGEN, Bio-Rad Laboratories, Roche Diagnostics, Thermofisher Scientific, Cepheid, Inc., Abbott, Inc., Seegene, Inc., Illumina, Inc., Zymo Research, MGI, Dako, Leica, Abbott

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Web: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.