Press release
Asia Pacific IVD Market Size, Share, Growth and Trends Report 2033
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Segment Review
Based on product type, the Asia Pacific IVD Market is categorized into reagents, instruments, and software & services. The reagent segment accounted for the highest market share in 2016, and the software and services is expected to grow at the highest growth rate during the forecast period. The growth of the reagent market is attributed to the recent introduction of new novel reagents and wide availability of effective and cost-efficient reagents. On the basis of techniques, the immunodiagnostics segment captured the highest market share in 2016, due to the increase in demand for personalized medicines. On the basis of application, infectious diseases segment captured the highest market share in 2016, owing to the increase in prevalence of infectious diseases and rise in increase in preventive healthcare awareness among the population. Based on end users, the standalone laboratory segment captured the highest market share in 2016, primarily due to non-availability of complex tests in hospitals and commercial clinics.
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Asia Pacific IVD Market Segmentation :-
Country Wise Review
Country wise, it is analyzed across India, China, Japan, South Korea, Australia, and Rest of Asia-Pacific. Japan accounted for the highest share of the market in 2016, followed by China. India is anticipated to witness the highest growth rate during the forecast period. In addition, this region is expected to emerge as the area with maximum growth potential due to the focus of key players in the emerging economies and improvement in the healthcare infrastructure.
Increase in Prevalence of Non-communicable and Communicable Diseases
According to WHO, number of deaths due to non-communicable diseases (NCDs) is estimated to increase from 36 million deaths in 2010 to 44 million deaths in 2020; out of which the highest prevalence of NCDs is accounted in Western Pacific (12.3 million deaths) and South-East-Asia (10.4 million deaths) regions. According to OECD, Tuberculosis is the leading cause of death from infectious disease in the Asia-Pacific region. In 2014, OECD reported that four out of five countries in world; with the highest number of incident cases of tuberculosis, were in the Asia-Pacific region.
Increase in Geriatric Population:
Geriatric population in Asia-Pacific has increased significantly and is vulnerable to various communicable and non-communicable diseases. According to the U.S. Census Bureau report "An Aging World: 2015" currently 7.9% of Asia population comprises of population aged 65 and over and this percentage is predicted to increase nearly 12.1% by 2030 and is anticipated to further increase to nearly 18.8% by 2050. Currently, Asia leads the world in speed of aging and size of older population and continue to lead during the forecast period. Therefore, the escalation in rate of the geriatric population is expected to raise the demand for diagnosis, thereby driving the IVD market.
Major companies operating in this market adopted product launch as their key development strategy. Companies profiled in this market include, 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, and Johnson & Johnson among others.
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Key Benefits for Stakeholders:
The study provides an in-depth analysis of the Asia Pacific IVD Market along with the current trends and future estimations to explain the imminent investment pockets.
A comprehensive analysis of the factors that drive and restrict the Asia Pacific IVD Market growth is provided in the report.
Comprehensive quantitative analysis of the industry from 2016 to 2023 is provided to enable the stakeholders to capitalize on the prevailing Asia Pacific IVD Market opportunities.
Extensive analysis of the key segments of the industry helps to understand the application and products of IVD Market used across the globe.
Key market players and their strategies have been analyzed to understand the competitive outlook of the Asia Pacific IVD Market.
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