In-Vitro Diagnostics Market: Current Analysis and Forecast 2019-2025

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Emphasis on Product (Reagents, Instruments Services), Techniques (Immunoassay, Clinical Chemistry, SMBG, Molecular Diagnostics, Hematology, Microbiology, Point-of-Care, Hemostasis), Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disease, Others), End-Users (Hospitals, Clinics & Labs, Home Care, Others), Usability (Disposable IVD Devices, Reusable IVD Devices) and Region/Country

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401

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Report ID:

UMHE19192

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Report Description
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Research Methodology

Report Description

Global In-Vitro Diagnostics Market was valued at US$ 68.92 billion in 2018 and is anticipated to reach US$ 98.18 billion by 2025 displaying a reasonable CAGR of 5.24% over the forecast period (2019-2025). Global In-Vitro Diagnostics (IVDs) are medical devices and accessories used to perform tests on samples, (e.g., blood, urine and tissue that has been taken from the human body) in order to detect infection, diagnose a medical condition, prevent disease and monitor drug therapies. The market of In-Vitro Diagnostics market is anticipated to grow enormously owing to factors such as rising geriatric population, increasing prevalence of chronic diseases, increasing adoption of Point-of-care diagnosis, and technology advancement in the In-Vitro Diagnostics technology. Rising demand for Point-of-Care (POC) devices is expected to fuel the market growth in near future. In addition, introduction of advanced technologies, such as biochips and nano-biotechnology, and miniaturization of microfluidics are expected to increase the demand for PoC products. These advancements have enabled easy access to PoC diagnostic tests and are likely to facilitate quick and effective test results, thereby boosting the overall market growth. The changing reimbursement models and regulations, investing in unifying technology would mark as a trend in this industry. However, stringent government regulations for the manufacturing of IVD products will act as the major challenges in the growth of this market.

Factors Influencing IVD Companies’ Business Models

“Reagents dominated the product segment of the global In-Vitro Diagnostics market with 69.0% share in 2018”

Based on Product type the global in-vitro diagnostics market is segmented into reagents and Instruments Services. The market of the Reagents segment is expected to grow tremendously and is projected to dominate the market in 2025 due to its high demand in over-the-counter diagnostic tests, paired with rising demand of these for tests at non-medical facilities such as home.

“Immunoassay technique of In-Vitro Diagnostic dominated the market in 2018”

Based on techniques the global In-Vitro Diagnostics market is segmented into Immunoassay, Clinical Chemistry, SMBG, Molecular Diagnostics, Hematology, Microbiology, Point-of-Care and Hemostasis. The Immunoassay technique occupied the largest share of 24.7% in 2018 and is expected to maintain its dominance throughout the forecast period 2019-2025. However, Molecular Diagnostics and Point-of-Care testing techniques are expected to witness highest CAGR growth during the analyzed period, owing to increasing demand for such tests at home.

“In-Vitro Diagnostic technology was majorly applied for the treatment or diagnosis of Infectious Disease”

Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases are the major applications of In-Vitro Diagnostics technology. In 2018, IVD was majorly used for the treatment and diagnosis of Infectious Diseases. The segment is expected to witness CAGR 4.89% during the forecast period 2019-2025 to generate revenue of US$ 33.73 billion by 2025. However, Oncology treatment using IVD is expected to grow at the highest rate during the analyzed period.

In-Vitro Diagnostics Market Size, by Application, Global, 2018-25 (US$ Bn)

“Hospitals were the major end-users of In-Vitro Diagnostic technology in 2018”

Based on end-users, the global In-Vitro Diagnostics market is bifurcated into hospitals, clinics & labs, home care and other healthcare facilities. In 2018, hospital segment occupied 47.6% share. However, use of the technology for home disease treatment is expected to witness highest CAGR growth dusting the forecast period 2019-2025. The growing elderly population and associated diseases would help the segment to witness such growth.

“Reusable IVD Devices are expected to dominate the usability segment of the global in-vitro diagnostics market during the analyzed period.”

In-Vitro Diagnostics market segmented based on usability include reusable and disposable IVD devices. The Reusable IVD Devices occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025.

“North America represents one of the largest markets of In-Vitro Diagnostics market globally in 2018”

For a deep-dive analysis of the industry and its adoption rate, detailed regional/country-level analysis was conducted for regions including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, UK and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of the World (Brazil and Others). In 2018, North America dominated the market, however growing elderly population in Europe and Asia-Pacific would help the region to use more of in-vitro diagnostic technology for disease detection and treatment.

Competitive Landscape-Top 10 Market Players

Abbott Laboratories, Becton Dickinson and Company, Biomerieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Johnson & Johnson, Roche, Siemens Healthineers AG, Sysmex Corporation and Thermo Fisher Scientific are some of the prominent players operating in the Global In-Vitro Diagnostics market industry. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products in the In-Vitro Diagnostic sector.

Reasons to buy (The research report presents):

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
  • Country-level details of the overall adoption of the In-Vitro Diagnostics market
  • A quick review of overall industry performance at a glance
  • In-depth analysis of key industry players
  • A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start-ups
  • The study comprehensively covers the market across different segments and sub-segments of the technology
  • Region/country Covered: North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, UK and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of the World (Brazil and Others)

Customization Options:

The Global In-Vitro Diagnostics Market can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

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  1.1Market Definition
  1.2Objective of the Study
  1.3Limitation 
  1.4Stakeholders 
  1.5Currency used in the Report
  1.6Scope of the Global In-Vitro Diagnostics Market Study
  2.1Research Methodology for Global In-Vitro Diagnostics Market Study
   2.1.1Main objective of the Global In-Vitro Diagnostics Market Study

 

  3.1General Overview
  3.2Capturing the full spectrum of the value that a diagnostic test contributes
  3.3Ensuring that robust analyses underpin the value assessment
  3.4Accounting for variation in diagnostic test types in value assessment methods
  3.5Aligning on how to define and measure value drivers
   3.5.1Value Driver: Clinical Impact
   3.5.2Value Driver: Non-Clinical Patient Impact
   3.5.3Value Driver: Care Delivery Revenue and Cost Impact
   3.5.4Value Driver: Public/Population Impact
  4.1General Overview
  4.2The key to accountable adoption of in vitro diagnostic technologies
   4.2.1Drivers of diagnostic technology innovation and adoption:
   4.2.2Current Challenges for Diagnostic Innovation
    4.2.2.1Regulation
    4.2.2.2Evidence generation
    4.2.2.3Clinical needs
    4.2.2.4Commissioning
    4.2.2.5Adoption
   4.2.3Current needs
    4.2.3.1Three key questions for diagnostic innovation:
   4.2.4Developing an evidence ‘toolkit’ for diagnostic test research
  4.3Value of Diagnostics to Health Care and Health Status
  5.1General Overview
  5.2Introduction and problem statement
   5.2.1Increasing healthcare costs
   5.2.2Underutilization of IVDs in clinical practice
  5.3Consequences for patient care
   5.3.1Conceptual interventions
    5.3.1.1Fostering prevention, screening, early diagnosis, and therapy
    5.3.1.2Promoting comprehensive disease management
    5.3.1.3Promoting stratified disease management
    5.3.1.4Targeted delivery of treatment alongside companion diagnostics
  5.4Consequences for policies: promoting a fee for outcomes
  5.5Analysis  
  5.6Conclusion
  6.1General Overview
  6.2Supply Chain 
  6.3Risk Assessment
  6.4Bulk, Custom and Contract Manufacturing

 

  7.1Primary Uses of Diagnostics
   7.1.1Predictive Applications/Screening/Early Disease Detection
   7.1.2Diagnostic
   7.1.3Secondary Risk Assessment – Prognostic
   7.1.4Drug Selection/Treatment Targeting
   7.1.5Disease/Condition Monitoring and Management
  7.2In Vitro Diagnostics: Overview of Future Trends and Directions
   7.2.1Predict Disease Before Symptoms Appear
   7.2.2Predict Beneficial and Adverse Treatment Effects
   7.2.3Enable Personalized “Real-Time” Treatment and Disease Management Regimens
   7.2.4Facilitate Point-of-care and Near-patient Testing
   7.2.5Enable Home Testing
   7.2.6Public Health, Environmental, Bioterrorism Applications
   7.2.7Technology and Testing System Integration
  7.3The importance of diagnostics
   7.3.1The role of diagnostics
   7.3.2Improving patient care
   7.3.3Reducing healthcare spending
   7.3.4Reasons In Vitro Diagnostics Are Superior
    7.3.4.1Quick Results
    7.3.4.2Multiple Tests at the Same Time
    7.3.4.3Customizable to Detect Different Chemicals
    7.3.4.4Ease of Recording the Data
    7.3.4.5Reliable Results That Can Be Quickly Repeated
  10.1Introduction of In-Vitro Diagnostics Market
   10.1.1Essential Components or Attributes of Diagnostics
   10.1.2Main Categories of Diagnostics
   10.1.3Settings of Use
  10.2Market Dynamics
   10.2.1Market Drivers
    10.2.1.1Increasing prevalence of Chronic Diseases
    10.2.1.2Rising geriatric population
    10.2.1.3Increasing adoption of Point-of-Care Diagnosis
    10.2.1.4Technology Advancement in the In-vitro Diagnostics
   10.2.2Market Restraints
    10.2.2.1Stringent Government Regulations for the Manufacturing of IVD Products
    10.2.2.2Unfavourable Reimbursement Policies for In-vitro Diagnostics
   10.2.3Market Opportunities
    10.2.3.1Development of Condition-Specific Markers and Tests
    10.2.3.2Growing significance of Companion Diagnostics
   10.2.4Market Trends
    10.2.4.1Changing Reimbursement Models and Regulations
    10.2.4.2Investing in Unifying Technology
    10.2.4.3Consolidation and Automation of Labs
    10.2.4.4Shift to data-driven Healthcare
    10.2.4.5Consumer Lab Testing
    10.2.4.6Healthcare Convergence

 

  11.1United States 
  11.2Europe  
  11.3China  
  11.4India  
  11.5Japan  
  11.6Australia
  12.1Demand Side Analysis
   12.1.1Key Facts on Aging Population
   12.1.2Health Conditions Associated with Aging
    12.1.2.1Some of the key facts about Cardiovascular Diseases (CVD)
  12.2Supply Side Analysis
   12.2.1Product Launches
   12.2.2Partnerships
   12.2.3Business Expansion and Investments
   12.2.4Mergers and Acquisitions
   12.2.5SWOT Analysis of In-Vitro Diagnostics Market
   12.2.6Value Chain Analysis of In-Vitro Diagnostics
  14.1General Overview
   14.1.1Reagents 
   14.1.2Instruments Services

 

   15.1.1Immunoassay
   15.1.2Clinical Chemistry
   15.1.3Self-Monitoring of Blood Glucose (SMBG)
   15.1.4Molecular Diagnostics
   15.1.5Hematology
   15.1.6Microbiology
   15.1.7Point-of-Care
   15.1.8Hemostasis

 

  16.1General Overview
   16.1.1Infectious Disease
   16.1.2Diabetes 
   16.1.3Oncology 
   16.1.4Cardiology
   16.1.5Nephrology
   16.1.6Autoimmune Disease
   16.1.7Others

 

  17.1General Overview
   17.1.1Hospital In-Vitro Diagnostic
   17.1.2Clinics & Laboratory In-Vitro Diagnostic
   17.1.3Home Care In-Vitro Diagnostic Market
   17.1.4Others Healthcare Facility In-Vitro Diagnostic

 

  18.1General Overview
   18.1.1Disposable IVD Devices
   18.1.2Reusable IVD Devices

 

  19.1General Overview
  19.2North America IVD Market Insight
   19.2.1North America In-Vitro Diagnostics Market by Product
   19.2.2North America In-Vitro Diagnostics Market by Technique
   19.2.3North America In-Vitro Diagnostics Market by Application
   19.2.4North America In-Vitro Diagnostics Market by End-Users
   19.2.5North America In-Vitro Diagnostics Market by Usability
   19.2.6North America In-Vitro Diagnostics Market by Country
    19.2.6.1United States
     19.2.6.1.1Key Findings on Healthcare Spending in the US, 2017
     19.2.6.1.2US Health Spending by Type of Service or Product, 2017
     19.2.6.1.3Health Spending by Major Sources of Funds
     19.2.6.1.4United States In-Vitro Diagnostics Market by Product
     19.2.6.1.5United States In-Vitro Diagnostics Market by Technique
     19.2.6.1.6United States In-Vitro Diagnostics Market by Application
     19.2.6.1.7United States In-Vitro Diagnostics Market by End-Users
     19.2.6.1.8United States In-Vitro Diagnostics Market by Usability
    19.2.6.2Canada
     19.2.6.2.1Key Findings on Canada Healthcare Spending, 2018
     19.2.6.2.2Key Findings on Hospital sector Spending in Canada, 2017
     19.2.6.2.3Canada In-Vitro Diagnostics Market by Product
     19.2.6.2.4Canada In-Vitro Diagnostics Market by Technique
     19.2.6.2.5Canada In-Vitro Diagnostics Market by Application
     19.2.6.2.6Canada In-Vitro Diagnostics Market by End-Users
     19.2.6.2.7Canada In-Vitro Diagnostics Market by Usability
    19.2.6.3Rest of North America
     19.2.6.3.1Rest of NA In-Vitro Diagnostics Market by Product
     19.2.6.3.2Rest of NA In-Vitro Diagnostics Market by Technique
     19.2.6.3.3Rest of NA In-Vitro Diagnostics Market by Application
     19.2.6.3.4Rest of NA In-Vitro Diagnostics Market by End-Users
     19.2.6.3.5Rest of NA In-Vitro Diagnostics Market by Usability
  19.3Europe IVD Market Insight
   19.3.1Europe In-Vitro Diagnostics Market by Product
   19.3.2Europe In-Vitro Diagnostics Market by Technique
   19.3.3Europe In-Vitro Diagnostics Market by Application
   19.3.4Europe In-Vitro Diagnostics Market by End-Users
   19.3.5Europe In-Vitro Diagnostics Market by Usability
   19.3.6Europe In-Vitro Diagnostics Market by Country
    19.3.6.1Germany
     19.3.6.1.1Germany In-Vitro Diagnostics Market by Product
     19.3.6.1.2Germany In-Vitro Diagnostics Market by Technique
     19.3.6.1.3Germany In-Vitro Diagnostics Market by Application
     19.3.6.1.4Germany In-Vitro Diagnostics Market by End-Users
     19.3.6.1.5Germany In-Vitro Diagnostics Market by Usability
    19.3.6.2France
     19.3.6.2.1France In-Vitro Diagnostics Market by Product
     19.3.6.2.2France In-Vitro Diagnostics Market by Technique
     19.3.6.2.3France In-Vitro Diagnostics Market by Application
     19.3.6.2.4France In-Vitro Diagnostics Market by End-Users
     19.3.6.2.5France In-Vitro Diagnostics Market by Usability
    19.3.6.3Spain
     19.3.6.3.1Spain In-Vitro Diagnostics Market by Product
     19.3.6.3.2Spain In-Vitro Diagnostics Market by Technique
     19.3.6.3.3Spain In-Vitro Diagnostics Market by Application
     19.3.6.3.4Spain In-Vitro Diagnostics Market by End-Users
     19.3.6.3.5Spain In-Vitro Diagnostics Market by Usability
    19.3.6.4Italy 
     19.3.6.4.1Italy In-Vitro Diagnostics Market by Product
     19.3.6.4.2Italy In-Vitro Diagnostics Market by Technique
     19.3.6.4.3Italy In-Vitro Diagnostics Market by Application
     19.3.6.4.4Italy In-Vitro Diagnostics Market by End-Users
     19.3.6.4.5Italy In-Vitro Diagnostics Market by Usability
    19.3.6.5United Kingdom
     19.3.6.5.1United Kingdom In-Vitro Diagnostics Market by Product
     19.3.6.5.2United Kingdom In-Vitro Diagnostics Market by Technique
     19.3.6.5.3United Kingdom In-Vitro Diagnostics Market by Application
     19.3.6.5.4United Kingdom In-Vitro Diagnostics Market by End-Users
     19.3.6.5.5United Kingdom In-Vitro Diagnostics Market by Usability
    19.3.6.6Rest of Europe
     19.3.6.6.1Rest of Europe In-Vitro Diagnostics Market by Product
     19.3.6.6.2Rest of Europe In-Vitro Diagnostics Market by Technique
     19.3.6.6.3Rest of Europe In-Vitro Diagnostics Market by Application
     19.3.6.6.4Rest of Europe In-Vitro Diagnostics Market by End-Users
     19.3.6.6.5Rest of Europe In-Vitro Diagnostics Market by Usability
  19.4Asia-Pacific In-Vitro Diagnostics Market Insight
   19.4.1Asia-Pacific In-Vitro Diagnostics Market by Product
   19.4.2Asia-Pacific In-Vitro Diagnostics Market by Technique
   19.4.3Asia-Pacific In-Vitro Diagnostics Market by Application
   19.4.4Asia-Pacific In-Vitro Diagnostics Market by End-Users
   19.4.5Asia-Pacific In-Vitro Diagnostics Market by Usability
   19.4.6Asia-Pacific In-Vitro Diagnostics Market by Country
    19.4.6.1China
     19.4.6.1.1IVD Product Registration in China
     19.4.6.1.2China IVD Type Testing Process
     19.4.6.1.3Clinical Trials for IVD Products in China
     19.4.6.1.4Reimbursement of IVD Products in China
     19.4.6.1.5China In-Vitro Diagnostics Market by Product
     19.4.6.1.6China In-Vitro Diagnostics Market by Technique
     19.4.6.1.7China In-Vitro Diagnostics Market by Application
     19.4.6.1.8China In-Vitro Diagnostics Market by End-Users
     19.4.6.1.9China In-Vitro Diagnostics Market by Usability
    19.4.6.2India
     19.4.6.2.1Notified Medical Devices
     19.4.6.2.2Non-Notified Medical Devices
     19.4.6.2.3India In-Vitro Diagnostics Market by Product
     19.4.6.2.4India In-Vitro Diagnostics Market by Technique
     19.4.6.2.5India In-Vitro Diagnostics Market by Application
     19.4.6.2.6India In-Vitro Diagnostics Market by End-Users
     19.4.6.2.7India In-Vitro Diagnostics Market by Usability
    19.4.6.3Japan
     19.4.6.3.1Classification of IVDs in Japan
     19.4.6.3.2Category of Approval Applications for IVD Reagents
     19.4.6.3.3Japan In-Vitro Diagnostics Market by Product
     19.4.6.3.4Japan In-Vitro Diagnostics Market by Technique
     19.4.6.3.5Japan In-Vitro Diagnostics Market by Application
     19.4.6.3.6Japan In-Vitro Diagnostics Market by End-Users
     19.4.6.3.7Japan In-Vitro Diagnostics Market by Usability
    19.4.6.4Australia
     19.4.6.4.1Australia In-Vitro Diagnostics Market by Product
     19.4.6.4.2Australia In-Vitro Diagnostics Market by Technique
     19.4.6.4.3Australia In-Vitro Diagnostics Market by Application
     19.4.6.4.4Australia In-Vitro Diagnostics Market by End-Users
     19.4.6.4.5Australia In-Vitro Diagnostics Market by Usability
    19.4.6.5Rest of Asia-Pacific Market Insight
     19.4.6.5.1Rest of APAC In-Vitro Diagnostics Market by Product
     19.4.6.5.2Rest of APAC In-Vitro Diagnostics Market by Technique
     19.4.6.5.3Rest of APAC In-Vitro Diagnostics Market by Application
     19.4.6.5.4Rest of APAC In-Vitro Diagnostics Market by End-Users
     19.4.6.5.5Rest of APAC In-Vitro Diagnostics Market by Usability
  19.5Rest of World Market Insight
   19.5.1Rest of World In-Vitro Diagnostics Market by Product
   19.5.2Rest of World In-Vitro Diagnostics Market by Technique
   19.5.3Rest of World In-Vitro Diagnostics Market by Application
   19.5.4Rest of World In-Vitro Diagnostics Market by End-Users
   19.5.5Rest of World In-Vitro Diagnostics Market by Usability
   19.5.6Rest of World In-Vitro Diagnostics Market by Country
    19.5.6.1Brazil
     19.5.6.1.1Brazil In-Vitro Diagnostics Market by Product
     19.5.6.1.2Brazil In-Vitro Diagnostics Market by Technique
     19.5.6.1.3Brazil In-Vitro Diagnostics Market by Application
     19.5.6.1.4Brazil In-Vitro Diagnostics Market by End-Users
     19.5.6.1.5Brazil In-Vitro Diagnostics Market by Usability
    19.5.6.2Other Rest of World
     19.5.6.2.1Other Rest of World In-Vitro Diagnostics Market by Product
     19.5.6.2.2Other Rest of World In-Vitro Diagnostics Market by Technique
     19.5.6.2.3Other Rest of World In-Vitro Diagnostics Market by Application
     19.5.6.2.4Other Rest of World In-Vitro Diagnostics Market by End-Users
     19.5.6.2.5Other Rest of World In-Vitro Diagnostics Market by Usability
  20.1Porter’s Five forces analysis
   20.1.1Bargaining Power of Suppliers
   20.1.2Bargaining Power of Buyers
   20.1.3Threat of New Entrants
   20.1.4Threat of Substitutes
   20.1.5Industry Rivalry
  20.2Market Share Analysis, by Company
   20.2.1Global In-Vitro Diagnostic Market Share Analysis, by Company 2018
  20.1Porter’s Five forces analysis
   20.1.1Bargaining Power of Suppliers
   20.1.2Bargaining Power of Buyers
   20.1.3Threat of New Entrants
   20.1.4Threat of Substitutes
   20.1.5Industry Rivalry
  20.2Market Share Analysis, by Company
   20.2.1Global In-Vitro Diagnostic Market Share Analysis, by Company 2018
 21TOP COMPANY PROFILES
  21.1Abbott Laboratories
   21.1.1Key Facts 
   21.1.2Business Description
   21.1.3Key Product/Services Offerings
   21.1.4Growth Strategy
   21.1.5SWOT Analysis
   21.1.6Key Financials
    21.1.6.1Revenue Split
   21.1.7Recent Developments
    21.1.7.1Product Launches
    21.1.7.2Partnership
    21.1.7.3Merger and Acquisition
  21.2Becton Dickinson
   21.2.1Key Facts 
   21.2.2Business Description
   21.2.3Key Product/Services Offerings (AI Technology)
   21.2.4Growth Strategy
   21.2.5SWOT Analysis
   21.2.6Key Financials
    21.2.6.1Revenue Split
   21.2.7Recent Developments
    21.2.7.1Product Launch
    21.2.7.2Partnerships
    21.2.7.3Business Expansions and Investments
    21.2.7.4Merger & Acquisitions
  21.3Biomérieux SA 
   21.3.1Key Facts 
   21.3.2Business Description
   21.3.3Key Product/Services Offerings
   21.3.4Growth Strategy
   21.3.5SWOT Analysis
   21.3.6Key Financials
    21.3.6.1Revenue Split
   21.3.7Recent Developments
    21.3.7.1Product Launches
    21.3.7.2Partnerships
    21.3.7.3Mergers and Acquisitions
  21.4Bio-Rad Laboratories, Inc.
   21.4.1Key Facts 
   21.4.2Business Description
   21.4.3Key Product/Services Offerings
   21.4.4Growth Strategy
   21.4.5SWOT Analysis
   21.4.6Key Financials
    21.4.6.1Revenue Split
   21.4.7Recent Developments
    21.4.7.1Product Launches
    21.4.7.2Mergers and Acquisitions
  21.5Danaher Corporation
   21.5.1Key Facts 
   21.5.2Business Description
   21.5.3Key Product/Services Offerings
   21.5.4Growth Strategy
   21.5.5SWOT Analysis
   21.5.6Key Financials
    21.5.6.1Revenue Split
   21.5.7Recent Developments
    21.5.7.1Merger and Acquisitions
  21.6Johnson & Johnson
   21.6.1Key Facts 
   21.6.2Business Description
   21.6.3Key Product/Services Offerings
   21.6.4Growth Strategy
   21.6.5SWOT Analysis
   21.6.6Key Financials
    21.6.6.1Revenue Split
  21.7Roche Holding AG
   21.7.1Key Facts 
   21.7.2Business Description
   21.7.3Key Product/Services Offerings
   21.7.4Growth Strategy
   21.7.5SWOT Analysis
   21.7.6Key Financials
    21.7.6.1Revenue Split
   21.7.7Recent Developments
    21.7.7.1Product Launches
    21.7.7.2Partnership
    21.7.7.3Mergers and Acquisitions
  21.8Siemens Healthineers AG.
   21.8.1Key Facts 
   21.8.2Business Description
   21.8.3Key Product/Services Offerings
   21.8.4Growth Strategy
   21.8.5SWOT Analysis
   21.8.6Key Financials
    21.8.6.1Revenue Split
   21.8.7Recent Developments
    21.8.7.1Product Launches
    21.8.7.2Partnership
    21.8.7.3Business Expansion and Investment
    21.8.7.4Merger and Acquisitions
  21.9Thermo Fisher Scientific
   21.9.1Key Facts 
   21.9.2Business Description
   21.9.3Key Product/Services Offerings
   21.9.4Growth Strategy
   21.9.5SWOT Analysis
   21.9.6Key Financials
    21.9.6.1Revenue Split
   21.9.7Recent Developments
    21.9.7.1Product Launch
    21.9.7.2Partnerships
    21.9.7.3Business Expansion and Investment
    21.9.7.4Merger and Acquisition
  21.10Sysmex Corporation
   21.10.1Key Facts 
   21.10.2Business Description
   21.10.3Key Product/Services Offerings
   21.10.4SWOT Analysis
   21.10.5Growth Strategy
   21.10.6Key Financials
    21.10.6.1Revenue Split
   21.10.7Recent Developments
    21.10.7.1Product Launches
    21.10.7.2Partnership
    21.10.7.3Business Expansion & Investments
    21.10.7.4Merger and Acquisitions

Research Methodology

Analyzing historical market, estimation of the current market and forecasting the future market for Global In-Vitro Diagnostics were the three major steps undertaken to create and analyze the overall adoption of in-vitro diagnostic services in major regions/countries. Exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the In-Vitro Diagnostics technology. Post assumption and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of In-Vitro Diagnostics market globally. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the overall market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global In-Vitro Diagnostics Market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other credible publications. For economic data collection, sources such as World Bank, CDC, European Commission (EC), United Nations and WHO, OECD among others were used.

Step 2: Market Segmentation:

After obtaining the historical market size of the overall market, detailed secondary analysis was conducted to gather historical market insights and share for different segments and sub-segments of the Global In-Vitro Diagnostics technology. Major segments included in the report are product, techniques, applications, end-users and usability.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments detailed factor analysis was conducted to estimate the current market size of the Global In-Vitro Diagnostics technology. Factor analysis was conducted using dependent and independent variables such as accelerating aging population, rising prevalence of age-related disorders and Increasing demand for residential care facilities. Historical trends of the Global In-Vitro Diagnostics technology and their year-on-year impact on the market size and share in the recent past were analyzed. The demand and supply-side scenario were also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players and industry’s supply chain. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market drivers, restraints, opportunities and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segments and sub-segments of the technology. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of In-Vitro Diagnostics globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as the market share of each player. Also, the growth strategies adopted by these players to compete in the ever-growing Global In-Vitro Diagnostics market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, etc.). Primary research findings were summarised, and statistical analysis was performed to prove the stated hypothesis. Input from primary research was consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Global In-Vitro Diagnostics market. Data was split into several segments post studying various parameters and trends in areas such as product, techniques, applications, end-user, usability and regions such as North America, Europe, Asia-Pacific and Rest of the World.

Main objective of the In-Vitro Diagnostics Market Study

The current & future market trends of the Global In-Vitro Diagnostics market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of the global in-vitro diagnostics market in terms of value (US$)
  • Analyze the current and forecast market size of different segments and sub-segments of the global in-vitro diagnostics market
  • To analyze the revenue and business models of the market players in the industry
  • To understand the initiatives undertaken by diagnostics companies Vs. service providers to increase the overall analysis of in-vitro diagnostics in major regions
  • Define and describe the segments and sub-segments considered in the evaluation of the global in-vitro diagnostics market and anticipate potential risk associated with the market
  • Define and analysis of the government regulations for diagnostics
  • Analyze the current and forecast market size of the global in-vitro diagnostics market for major regions/countries including North America (US, Canada, Rest of North of America), Europe (Germany, France, Spain, Italy, UK, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific) and Rest of World (Brazil, Others)
  • Define and analyze the competitive landscape of the global in-vitro diagnostics market and the growth strategies adopted by the market players to sustain in the fast