Global In Vitro Diagnostics (IVD) Market Grow at a CAGR of +5.5% - Top Players are Johnson & Johnson Private Limited, Toshiba Medical Systems Corporation, BG Medicine Inc.
The Global In Vitro Diagnostics Market accounted to USD 60.22 billion in 2016 growing at a CAGR of 5.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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In vitro diagnostic devices are used to detect any kind of infection and diseases through the specimen from the human body to cure diseases. These IVD products can be instruments, reagents, or any system used for the diagnosis of diseases. The market is raised in back few years as molecular diagnostics in personalized medicine is accepted by patients, increase in incidence of chronic and infectious diseases and increase in geriatric population drive the global IVD market.
Major Market Drivers and Restraints:
• Growing acceptance of personalized medicine.
• Rising prevalence of chronic diseases.
• Increasing adoption of point-of-care testing.
• Growth in the number of private diagnostic centers.
• Rising healthcare costs and low budgets.
• Stringent government regulations for the manufacturing of IVD products
• Inadequate reimbursement policies
The global in vitro diagnostics market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of global in vitro diagnostics market for global, Europe, North America, Asia Pacific and South America.
Major Key Players:
F. Hoffmann-La Roche AG, Abbott, Siemens Ltd., Danaher Corporation, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., BD, Johnson & Johnson Private Limited, Qiagen N.V., Sysmex Corporation, Ortho Clinical Diagnostics, DiaSorin S.p.A., Bayer AG, Toshiba Medical Systems Corporation, bioMérieux SA, Sigma-Aldrich Corp, Verax Biomedical Inc., BG Medicine Inc., Kimberly-Clark Corporation, Luminor Medical Technologies Inc., and Targeted Diagnostics & Therapeutics Inc. among others
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• Product & Service
By technology the market is segmented into immunochemistry/immunoassays, clinical chemistry, molecular diagnostics, clinical microbiology, hematology, coagulation and hemostasis.
By Product & Service the market is segmented into reagents & kits, instruments, data management software and services.
By Application the market is segmented into diabetes, infectious diseases, oncology/cancer, cardiology, nephrology, autoimmune diseases, drug testing or pharmacogenomics and HIV/AIDS.
By End-User the market is segmented into hospitals, laboratories, point-of-care testing, patient self-testing and academic institutes.
On the basis of geography, global in vitro diagnostics market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
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