New York, NY, May 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “In-Vitro Diagnostics (IVD) Market by Product (Instruments, Reagents, and Services), by Technology (Immunology, Hematology, Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology, and Others), by Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing, and Others), and by End-Use (Hospital, Laboratory, Home Care, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global in-vitro diagnostics (IVD) market was around USD 50,113 million in 2018 and is expected to reach approximately USD 70,730 million by 2025, at a CAGR of around 5.01% between 2019 and 2025.
In-vitro diagnostics (IVD) is used to identify various types of diseases and infections. In-vitro diagnostics products include reagents, instruments, etc. that are used for the infection analysis. The demand for in-vitro diagnostics (IVD) is on the rise due to the growing occurrences of chronic diseases across the world. Other factors likely to push the in-vitro diagnostics (IVD) market growth include rising geriatric population, growing incidences of long-lasting lifestyle-related diseases, an increasing number of infectious diseases, escalating alertness of personalized medicine, and the augmenting acceptance of point-of-care analysis. Though, stringent regulatory outlines and insufficient compensation may restrict the global in-vitro diagnostics (IVD) market growth to a certain extent.
Browse through 67 Tables & 36 Figures spread over 110 Pages and in-depth TOC on “Global In-Vitro Diagnostics Market Size & Trends Report 2018: Industry Growth, Share, Segments, Analysis, Overview and Forecast, 2025”.
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The global in-vitro diagnostics (IVD) market is categorized based on product, technology, application, and end-use. Based on product, the global in-vitro diagnostics (IVD) market is divided into instruments, reagents, and services. Reagents are expected to lead the global market over the forthcoming years due to an increase in the number of research and development initiatives and growing demand for self-test and point-of-care products.
Based on technology, the market includes immunology, coagulation, clinical chemistry, microbiology, hematology, molecular diagnostics, and others. Immunoassays held a major market share in 2018 due to their better acceptance as they offer high throughput and high sensitivity at low costs.
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By application, the market includes cardiology, infectious disease, autoimmune diseases, diabetes, drug testing, nephrology, oncology, and others. The infectious disease segment is projected to hold the largest market share in the upcoming years, owing to the high incidences of tuberculosis, pneumonia, and HIV/AIDS. The oncology segment is likely to witness the fastest CAGR in the years ahead, owing to the growing demand for POC diagnostics and self-care devices for long-lasting diseases management.
Based on end-user, the market includes hospital, laboratory, home care, and others. Hospitals are estimated to dominate globally in the forthcoming years owing to the huge volume of analytical tests being performed in hospitals and the growing incidences of hospital-acquired infections.
Browse the full “In-Vitro Diagnostics (IVD) Market by Product (Instruments, Reagents, and Services), by Technology (Immunology, Hematology, Clinical Chemistry, Molecular Diagnostics, Coagulation, Microbiology, and Others), by Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing, and Others), and by End-Use (Hospital, Laboratory, Home Care, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/in-vitro-diagnostics-market
By region, North America will be the fastest growing region in the global in-vitro diagnostics (IVD) market in the future. Promising government rules, huge healthcare spending, and the presence of renowned key players operating in the market are some significant factors for this regional market’s development. Additionally, the growing demand for medical technology is anticipated to positively influence market growth over the forecast time period. Furthermore, the market is also fueled by the presence of leading companies, such as Danaher Corporation, Abbott Laboratories, Thermo Fisher Scientific, Johnson & Johnson, Becton, Dickinson, and Company, and Bio-Rad Laboratories, involved in the manufacturing of progressive grade plastics in the market.
Europe accounts for a sizeable market share of the global market, owing to the rising government provisions and increasing expenditure for improved healthcare infrastructure. Budget restrictions and greater centralization both in the private and public laboratory sectors have increased the purchasing power of key organizations. The IVD per capita expenditure is estimated to be around USD 67.39 in Switzerland. However, the healthcare expenditure, both in terms of GDP and the absolute amounts, has some variations from country to country across Europe.
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The Asia Pacific is predicted to witness the fastest progress rate over the estimated time period, owing to the huge unmet clinical requirements and improving healthcare structure across the region. The Chinese in-vitro diagnostics market is expected to grow extensively over the forecast time period, owing to the increasing healthcare budget, growing private and public spending on healthcare, and the rising number of diseases among the country’s population. Additionally, the growing geriatric population base across this region is likely to further contribute to this region’s in-vitro diagnostics (IVD) market growth.
Latin America and the Middle East and Africa are expected to grow significantly in the future, owing to the growing elderly population, which is prone to numerous diseases and needs consistent analytical tests.
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Some key players of the global in-vitro diagnostics (IVD) market are Alere, bioMerieux SA, Becton, Dickinson, and Company, F. Hoffmann-La Roche Ltd., Siemens Healthineers, Qiagen, Hologic, Inc. (Gen-Probe), Abbott, Danaher, Sysmex Corporation, and Cepheid.
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This report segments the global in-vitro diagnostics (IVD) market into:
Global In-Vitro Diagnostics (IVD) Market: By Product
- Instruments
- Reagents
- Services
Global In-Vitro Diagnostics (IVD) Market: By Technology
- Immunology
- Hematology
- Clinical Chemistry
- Molecular Diagnostics
- Coagulation
- Microbiology
- Others
Global In-Vitro Diagnostics (IVD) Market: By Application
- Infectious Disease
- Diabetes
- Oncology
- Cardiology
- Nephrology
- Autoimmune Diseases
- Drug Testing
- Others
Global In-Vitro Diagnostics (IVD) Market: By End-Use
- Hospital
- Laboratory
- Home Care
- Others
Global In-Vitro Diagnostics (IVD) Market: By Region
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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