The global In-Vitro Diagnostics Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- July 13, 2023
- HEALTHCARE, NEWS
- In-Vitro Diagnostics Market, In-Vitro Diagnostics Market Growth, In-Vitro Diagnostics Market Share, In-Vitro Diagnostics Market Size
- 0 Comments
In-vitro diagnostic tests are tests that are utilized to detect diseases and vulnerable conditions which helps in keeping track of patients as well as prevent further infections. In vitro diagnostics (IVD) include reagents, instruments, and software used to evaluate specimens such as blood, urine, stool, tissues, and other bodily fluids obtained from the human body to diagnose diseases, conditions, and infections. The rise in the prevalence of chronic and infectious diseases like diabetes, cancer, cardiovascular disease, and tuberculosis is a primary factor driving the IVD market’s expansion. Additionally, there has been a marked increase in the number of individuals with infectious disorders such as STDs, respiratory illnesses, and gastrointestinal conditions which is also driving the growth of the market during the forecast period.
Access sample report (including graphs, charts, and figures): https://univdatos.com/get-a-free-sample-form-php/?product_id=35552
The Global In-vitro diagnostics Market is expected to grow at a steady rate of around 7.4% owing to a surge in the prevalence of cancer. According to GLOBOCAN, in 2020, there were about 19.3 million new cancer cases and approximately 10 million deaths. This growing number of cancer cases is expected to foster the adoption of in-vitro diagnostic tests which will drive the growth of the market. Moreover, the rising initiatives of the government and various non-profit organizations in spreading awareness regarding the prevention of cancer are expected to fuel the growth of the market. For instance, the World Health Organization’s Global Action Plan for Prevention and Control of Non-Communicable Diseases aims at decreasing premature death due to cancer, cardiovascular diseases, chronic respiratory diseases, and diabetes by around 25% by the year 2025.
Based on product, the market is segmented into reagents and instruments services. The instruments services category is to witness fastest CAGR during the forecast period owing to the growing demand for the various type of tests such as Metabolic markers (blood chemistry) such as glucose, urea, and potassium, Liver function tests, Heart disease and heart attack indicators, Thyroid disease markers, Various blood cell counts and blood cell size, Viral and microbial infection such as HIV or H. pylori, and Immunological markers and antibodies.
On the basis of techniques, the market is categorized into immunoassay, clinical chemistry, self-monitoring of blood glucose (SMBG), molecular diagnostics, hematology, microbiology, point-of-care, and hemostasis. Among these, the immunoassay category held a significant share of the market in 2020. This is mainly due to technological advancements, increasing awareness about personal health, and an increase in awareness pertaining to benefits associated with these devices.
For a detailed analysis of the Global In-Vitro Diagnostics Market browse through – https://univdatos.com/report/in-vitro-diagnostics-market-2/
For a better understanding of the market adoption of the in-vitro diagnostics industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the well-established healthcare sector and the increasing incidence of chronic illnesses. Due to rising healthcare costs and the strong acceptance of point-of-care testing, the United States occupies most of the North American market. The main cause of mortality and disability in the United States each year is chronic diseases, according to data on chronic diseases updated by the Centers for Disease Control and Prevention in July 2022. The expansion of in-vitro diagnostics in the country is aided by the increased prevalence of chronic diseases there.
Some of the major players operating in the market include Abbott; BD; BIOMÉRIEUX; Bio-Rad Laboratories, Inc.; Danaher; Johnson & Johnson Private Limited; F. Hoffmann-La Roche Ltd; Siemens Healthcare GmbH; Sysmex Corporation; Thermo Fisher Scientific.
Global In-Vitro Diagnostics Market Segmentation
Market Insight, by Product
· Reagents
· Instruments Services
Market Insight, by Techniques
· Immunoassay
· Clinical Chemistry
· Self-Monitoring of Blood Glucose (SMBG)
· Molecular Diagnostics
· Hematology
· Microbiology
· Point-of-Care
· Hemostasis
Market Insight, by Application
· Infectious Disease
· Diabetes
· Oncology
· Cardiology
· Nephrology
· Autoimmune Disease
· Others
Market Insight, by Application
· Hospital
· Clinics & Laboratory
· Home Care
· Others
Market Insight, by Application
· Disposable IVD Devices
· Reusable IVD Devices
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· Abbott
· BD
· BIOMÉRIEUX
· Bio-Rad Laboratories, Inc.
· Danaher
· Johnson & Johnson Private Limited
· F. Hoffmann-La Roche Ltd
· Siemens Healthcare GmbH
· Sysmex Corporation
· Thermo Fisher Scientific