openPR Logo
Press release

Global In Vitro Diagnostics (IVD) Market, By Product Type (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disorders), End U

06-26-2017 04:42 PM CET | Health & Medicine

Press release from: Clinical Diagnostic Market Report

Global In Vitro Diagnostics (IVD) Market, By Product Type

In-vitro Diagnostics (IVD) Market

Diagnostic tools account for considerable share of global healthcare revenue. Its reach ranges from hospitals and clinics to that in research centers. As such, In Vitro Diagnostic (IVD) market share has witnessed increase in recent past, further highlighted its key role in the healthcare industry. IVD has led to cut down in hospital staying costs along with faster diagnosis results. According to the U.S. FDA, in-vitro diagnostic products are those reagents, instruments, and systems intended for use in diagnosis of disease or other conditions, including determination of the state of health, in order to cure, mitigate, treat, or prevent disease or its sequelae. Such products are intended for use in the collection, preparation, and examination of specimens taken from the human body.

Request Sample of Global In Vitro Diagnostics (IVD) Market :

Over the last decade, the In vitro diagnostics (IVD) market has witnessed substantial growth. However, the growth trajectory witnessed declining motion between 2008 and 2012. The effect was prolonged to 2014 in Europe. Economic downturn in Europe coupled with low healthcare expenditure are factors responsible for marginal demand in IVD. However, as the healthcare growth trajectory is on growth path post-2015, especially in Asia Pacific, the In vitro diagnostics (IVD) market is expected to re-bounce to higher growth trajectory. Also, growing point of care solution is expected to boost the molecular diagnostics, in turn driving growth of the market worldwide.

Though the market competition has heightened with advancement in molecular diagnostics, the market is expected to create lucrative market opportunity for industry players during the forecast period (2016–2024). Growth in the industry will be supported by favorable demographic population, rise in diagnostic centers, and increased healthcare spending along with emerging technologies. Also, the In vitro diagnostics (IVD) market outlook will change with lab automation. As of 2017, the In vitro diagnostics (IVD) market is estimated to account for 33% of global medical devices and diagnostics market and is expected to capture 35% of the market by 2024.
The global In vitro diagnostics (IVD) market revenue was estimated to be valued at US$ 20,459.3 million in 2016 and is expected to expand at a CAGR of 4.3% during the period 2016 – 2024.

Infectious diseases has emerged as the highest revenue contributor among application segment

Infectious diseases has emerged as the highest revenue generating application for In vitro diagnostics (IVD) market industry players. The segment is expected to grow by 1.5X at a CAGR of 4.4% between 2016 and 2024. Infectious diseases prevalence has increased considerably in past. Morbidity cases in tuberculosis, salmonella and meningococcal disease was as high as 90,000 in U.S. in 2016. As a result, the demand for IVD from diagnostic centers has increased substantially. As per the Centers for Disease Control and Prevention (CDC), over 3.9 million patients visited hospital outpatient department for infectious and parasitic diseases. Demand for IVD is expected to register fastest growth in detection of autoimmune disorders and infectious diseases.

North America is expected to dominate the market revenue throughout the forecast period

North America is highest contributing region for In vitro diagnostics (IVD) market, with a projected market share of 46.7% by 2024, expanding at the fastest CAGR of 5.4% between 2016 and 2024. Changing healthcare landscape, favorable regulatory policies such as Medicaid and Medicare along with significant healthcare spending (16.7%) is expected to boost the market for IVD in the region. Though the market outlook seems lucrative in North America, reimbursement pressure, increased usage of companion diagnostic and significant growth potential of next generation sequencing (NGS) are key challenges for the industry players in the North America. Companion diagnostics market is proliferating at faster market pace compared to IVD. As such, product innovation in the segment is the key focus area for market players. North America has also seen some of the major mergers and acquisitions in the recent past, to tap into market opportunities. For instance, Roche acquired Ventana Medical in 2008. In 2011, Novartis acquired Genoptix to capture a greater chunk of market in the U.S.

Get an exclusive discount on this report :

Market players need to invest in R&D and follow inorganic growth to generate high ROI in longer run

Market players are focused towards research and development to expand their business reach in the market. Moreover, industry players are focused towards generating revenue from respective key product segment. For instance, while Roche and Siemens are active players in clinical chemistry IVD product segment, Allere and Abbott holds key market share in point of care IVD solutions. Furthermore, the In vitro diagnostics (IVD) market is expected to witness mergers and acquisition in near future, wherein leading players are expected to acquire regional companies based in emerging economies. Similar trends have been noticed in recent past where leading players acquired/partnered with regional players. For instance, Roche acquired majority stake in Foundation medicine with US$ 1.2 Bn in 2015.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity

Contact Us:
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Tel: +1–206–701–6702

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Global In Vitro Diagnostics (IVD) Market, By Product Type (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disorders), End U here

News-ID: 596245 • Views:

More Releases from Clinical Diagnostic Market Report

Women’s Health Diagnostic Test Market - By Application Ovarian Cancer Test, Breast Cancer Test
Women’s Health Diagnostic Test Market - By Application Ovarian Cancer Test, Br …
In 2017, Naugatuck Valley Women’s Health Specialists (NVWHS) decided to provide a free informational program for heart health with Boston Heart Diagnostics. Boston Heart diagnostics has anticipating treatment and diagnosis of cardiovascular diseases (CVD), which improves women’s heart health, as CVD is a leading disease in the U.S. This program is expected to create awareness of CVD related diseases among women and also help to improve lifestyle. Download The PDF Brochure:
Non-Invasive Cancer Diagnostics Market- Trends And Outlook
Non-Invasive Cancer Diagnostics Market- Trends And Outlook
Non-invasive cancer diagnostics are procedures used for the identification of cancer without incision in the body. Detection and treatment of cancer at early stages are important for long-term survival. Non-invasive cancer detection method is found to be an increasing choice of interest, owing to its painless or minimal pain method of diagnostic coupled with more accurate results. Molecular based diagnostic methods are expected to increase during the forecast period due
Molecular Diagnostics Market - Global Industry Insights
Molecular Diagnostics Market - Global Industry Insights
Molecular diagnostics tests are used for detecting disturbance between specific sequences in DNA or RNA, which may be associated with disease. The disturbance between a single nucleotide polymorphism (SNP), deletions, rearrangements, insertions, and others factors lead to various diseases. Disease that are diagnosed by using molecular diagnostic test includes infectious diseases, oncology, virology, and STDs. Increasing incidence and prevalence of infectious disease and cancer is expected to be a major factor
Autoimmune Disease Diagnostics Market - Global Industry Insights, Trends, 2017–2025
Autoimmune Disease Diagnostics Market - Global Industry Insights, Trends, 2017 …
The immune system of human body recognize some invaders such as bacteria, viruses, and external chemicals and attacks those to protect the body. However, sometimes the immune system attacks the healthy cells of body by considering them as foreign cells. Such a condition is called autoimmune disease. The autoimmune disease causes abnormal organ growth and changes in organ function. The genes of an individual with environmental exposure might be the

All 5 Releases

More Releases for IVD

IVD Market 2021 | Detailed Report
The IVD market research report delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. The IVD report also incorporates the current and future global market outlook in the emerging and developed markets. Moreover, the report also investigates regions/countries expected to witness the fastest growth rates during the forecast period. The IVD research report also provides insights of different regions that are contributing market growth.
Liquid Biopsy IVD Market 2021 | Detailed Report
According to Market Study Report, Liquid Biopsy IVD Market provides a comprehensive analysis of the Liquid Biopsy IVD Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, and emerging opportunities of global industry. An exclusive data offered in this report is collected by research and industry experts team. Get Free Sample PDF (including full TOC, Tables and Figures) of Liquid Biopsy IVD Market @ The report provides a
Infectious Disease IVD Market – Forecast to 2026
The findings reviewed by GME stated that the Global Infectious Disease In-Vitro Diagnostics Market would grow at a CAGR value of 4.6 percent from 2021 to 2026. The increasing geriatric population is the primary driving factor for the infectious disease in-vitro diagnostics market. Besides, the increasing number of infectious diseases, launch of advanced testing kits and beneficial features attributed by IVDs are propelling growth in the market. Browse 159 Market
Asia IVD Market
According to a new report published by Allied Market Research, the Asia Pacific In-vitro diagnostics market was valued at $12.9 billion in 2015, and is expected to reach $19.0 billion registering a CAGR of 5.6% during 2016 to 2022. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario. Download Free Sample Report @ The Asia-Pacific IVD market is
LAMEA IVD Market | Business Development Strategies
LAMEA IVD market size was valued at $7,413 million in 2016, and is projected to reach at $10,316 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. The immunodiagnostics segment accounted for more than two-ninths share of the total market in 2016. Request Sample Report at: In vitro diagnostics (IVD) are medical devices and reagents used for examination of the body samples such as blood, tissue, and
Global IVD Products Market Research Report
This report studies the global IVD Products market status and forecast, categorizes the global IVD Products market size (value & volume) by manufacturers, type, application, and region. This report focuses on the top manufacturers in North America, Europe, Japan, China, and other regions (India, Southeast Asia). The major manufacturers covered in this report Abbott Laboratories Danaher Corporation Johnson and Johnson Roche Diagnostics Siemens Healthcare BD Biomerieux Bio-Rad Laboratories Ortho Clinical