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Indonesia In Vitro Diagnostics Market Projected to Reach $1.11 Billion by 2029: Meticulous Research® Unveils Exclusive Insights

03-22-2024 08:09 AM CET | Health & Medicine

Press release from: Meticulous Research®

/ PR Agency: Meticulous Research
Indonesia In Vitro Diagnostics Market Projected to Reach $1.11

[Redding, California,22-03-2024] - Meticulous Research®, a premier provider of market intelligence and advisory services, presents its latest report forecasting the trajectory of the Indonesia In Vitro Diagnostics (IVD) Market. Titled "Indonesia IVD Market by Product (Kits, Instruments, Software), Technology (Immunoassay, Hematology, Coagulation, Diabetes, Molecular), Application (Infectious Diseases, Cardiology, Oncology), and End User (Hospital, Diagnostic Lab, Home Care)-Forecast to 2029," the report anticipates the market to burgeon to $1.11 billion by 2029, exhibiting a robust CAGR of 10.6% from 2022 onwards.

Unlocking Health Insights with In Vitro Diagnostics

In vitro diagnostics (IVD) play a pivotal role in healthcare, enabling the detection and monitoring of a diverse range of diseases from blood or tissue samples. Techniques such as enzyme-linked immunosorbent assay (ELISA), polymerase chain reaction (PCR), and next-generation sequencing empower healthcare professionals to safeguard public health effectively. The escalating prevalence of chronic diseases, particularly among Indonesia's aging population, underscores the indispensable role of IVD in disease management and prevention.

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Navigating the Impact of COVID-19

The COVID-19 pandemic elicited a mixed response from the Indonesia IVD market. While Indonesia's Ministry of Health rapidly expanded testing capabilities, travel restrictions and supply chain disruptions posed challenges. Efforts to ramp up testing infrastructure, including the distribution of PCR machines and kits, positively influenced market growth. However, disruptions stemming from lockdowns impeded the market's progress.

Segmentation and Market Dynamics

The report meticulously dissects the Indonesia IVD market based on product, technology, application, and end user. Key insights include:

Technology: Molecular diagnostics exhibit the highest growth potential, fueled by government initiatives and technological innovations. Notably, collaborations between Euformatics and PT. Pandu Biosains underscore industry advancements.

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Product: Reagents, assays, and kits emerge as the frontrunners, driven by the rising incidence of chronic and infectious diseases. The segment's growth mirrors Indonesia's evolving healthcare landscape.

Application: Oncology stands out with its robust growth trajectory, mirroring the nation's escalating cancer burden. Increasing investments in cancer care infrastructure underscore the segment's significance.

End User: The home care/self-testing segment experiences exponential growth, driven by the burgeoning demand for home-based diagnostic solutions. This trend reflects a paradigm shift towards patient-centric healthcare delivery.

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Strategic Developments and Key Players

The report offers a comprehensive analysis of major market players and their growth strategies from 2019 to 2022. Notable initiatives include Abbott Laboratories' CE Mark approval for its Panbio Rapid Antigen Self-test and Agilent Technologies' launch of its Agilent Dako SARS-CoV-2 IgG Enzyme-Linked Immunosorbent Assay (ELISA) kit.

Leading Market Players and Distributors

Major players such as F. Hoffman-La Roche Ltd, Thermo Fisher Scientific Inc., and Abbott Laboratories anchor the industry's growth. Additionally, distributors such as MRK Diagnostics, PT. Diastika Biotekindo, and PT. Pandu Biosains play a crucial role in expanding market reach and accessibility.

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Contact:
Meticulous Market Research Pvt Ltd
Office No-202, 203,204,205,206
2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
Phone: +9102066394988
CIN- U93000PN2013PTC149455

We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition. Through our mixed bag of research offerings - syndicated research, custom research, and analyst engagement - we enable smart decision making to enhance business performance for global organizations. Our focus is also on finding answers to the challenging questions that global business leaders face on a daily basis. Each year, we deliver more than 300 syndicate studies and 60+ consulting projects across eight industry verticals in 20+ geographic markets.

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