According to In Vitro Diagnostics (IVD) Market Analysis 2019 to 2023 Global Industry research report published by Market Research Future, the Global In Vitro Diagnostics (IVD) Market Size to reach USD 102,500 Mn value at 8.16% CAGR by Forecast Period of 2019 to 2023. Market for In Vitro Diagnostics Industry is Segmented Product & Services (Reagents & Kits, Instruments, Data management software), By Applications (Infectious Diseases, Non-infectious diseases), By End User – Global Opportunity Analysis with Industry Forecast, 2018 – 2023.
In Vitro Diagnostics Market Companies Studied in report include Danaher Corporation, Thermo Fisher Scientific, Grifols S.A, Ortho Clinical Diagnostics, Abbott Laboratories, Qiagen N.V., Sysmex Corporation, BioMérieux S.A, DiaSorin S.p.A, F. Hoffmann-La Roche AG, Siemens AG, Bio-Rad Laboratories Inc., Becton Dickinson and Company, among others.
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Global In Vitro Diagnostics (IVD) Market Insights:
In vitro diagnostics (IVD) are medical devices used for conducting medical testing of samples taken out of the human or animal body such as blood, urine and tissue. In vitro diagnostics (IVD) are used to detect infection, monitor drug concentration so as to diagnose and prevent diseases. According to Market Research Future (MRFR), the global IVD market was valued at USD 69,200MN in2017. In its recently published analysis, MRFR also asserts that the market would register a double digit CAGR by the end of assessment period of 2023.
Extensive demand for IVD owing to growing demand, ease of use and growing healthcare diagnostic use is a key driving force behind the market.IVD comprises a large and important segment of the healthcare sector and is experiencing rapid spurts of growth owing to technological advancements, greater satisfaction owing to better detection and accuracy, growing demand for treatment monitoring, and explosive availability of over the counter IVD kits.
However, the restrictive legal framework in nations like Germany favouring the generic, IUD products and the shift to sensor-based products is constraining the market growth. The market is also experiencing price pressure owing to availability of cheap products from China and Vietnam. The growing stringency of regulations such as the In Vitro Diagnostics Directive (IVDD) 98/79/EC which mandates a CE Mark warranting quality and safety standards is also restraining the market.
New product development is the key strategy employed by companies so as to capitalise on the market demand. The centralized public procurement in many countries is reducing market competition and increasing uncertainty in the industry.
Key Questions answered in report:
What is the market size of In Vitro Diagnostics (IVD) industry in Asia Pacific, North America, Europe, And Middle East?
Who are the leading players in the In Vitro Diagnostics (IVD) Industry?
Which key players are dominating the Global In Vitro Diagnostics (IVD) market?
What will be the forecast of the In Vitro Diagnostics (IVD) market for the next 5 years?
What is the market demand of the In Vitro Diagnostics (IVD) Industry?
What will be the upcoming trends in the In Vitro Diagnostics (IVD) Market?
What is the market size and growth rate of the Global In Vitro Diagnostics (IVD) market?
What are some factors that affect the In Vitro Diagnostics (IVD) market?
What will be the future of In Vitro Diagnostics (IVD) market in coming years?
In Vitro Diagnostics (IVD) Global Market Segment Analysis:
The report is segmented into three dynamics to widen the scope of understanding,
By Product & Services: Reagents & Kits, Instruments, Data Management Software among others.
By Technology: Immunoassay/Immunochemistry, Clinical Chemistry, Molecular Diagnostics, Microbiology, Hematology among others.
By Application: Infectious Diseases, Non-Infectious Diseases among others.
By End-use: Hospitals, Laboratories, Academic Institutes among others.
By Regions: North America, Europe, Asia Pacific, and the Rest-of-the-World.
In Vitro Diagnostics (IVD) Global Market Regional Analysis:
North America dominates the global IVD market owing to factors such as excellent reimbursement, large healthcare expenditure and compulsory screening regulations.
The IVD market in Europe is growing owing to large medical device industry and growing healthcare expenditure. The European market growth experienced growth in the microbiology and infectious immunology segment of the IVD market. The U.K. accounted for the fastest CAGR growth owing to the large demand for glucose test strip. However, the European market is exhibiting low CAGR growth owing to saturation of the market and the falling price of IUD products. Thus, the low revenue growth is not reflective of the growth in test performed and market volume has increased significantly. Germany followed by Italy, France, Spain and the U.K. accounted for the largest markets in Europe.
The Asia Pacific IVD market is expected to emerge as the largest market owing to large population. China, Japan and India are expected to dominate the Asia Pacific market owing to growing economy and manufacturing activities. The burgeoning medical devices sector is providing further impetus to the region’s market growth.
Industry/ Innovation/ Related News:
April03, 2019 —- QIAGEN N.V. and LabCorp entered into a master service agreement to access cancer patients to QIAGEN’s companion diagnostic products. Under QIAGEN’s Day-One Lab Readiness program, LabCorp will provide faster access to latest genomic targeted drugs which will result in a broader range of patients gaining access to innovative precision medicines.
LabCorp’s participation in QIAGEN´s network of laboratory partners will ensure testing readiness for a portfolio of new companion diagnostics, including next generation sequencing (NGS) and qualitative polymerase chain reaction (qPCR) diagnostic tests.
LabCorp’s experience in these complex technologies is complement to QIAGEN’s personalized health platforms such as assays for multiple indications, novel companion diagnostics for diseases such as cancers.
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porter’s Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
5.1.2 Bargaining Power Of Buyers
5.1.3 Threat Of New Entrants
5.1.4 Threat Of Substitutes
5.1.5 Intensity Of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
List of Figures:
FIGURE 1 GLOBAL IN-VITRO DIAGNOSTICS MARKET: MARKET STRUCTURE 22
FIGURE 2 RESEARCH PROCESS OF MRFR 24
FIGURE 3 TOP-DOWN & BOTTOM-UP APPROACH 27
FIGURE 4 VALUE CHAIN 38
FIGURE 5 GLOBAL IN-VITRO DIAGNOSTICS MARKET, BY PRODUCT & SERVICES 2017 & 2023 (USD MILLION) 40
FIGURE 6 GLOBAL IN-VITRO DIAGNOSTICS MARKET, BY TECHNOLOGY 2017 & 2023 (USD MILLION) 44
FIGURE 7 GLOBAL IN-VITRO DIAGNOSTICS MARKET, BY APPLICATION 2017 & 2023 (USD MILLION) 50
FIGURE 8 GLOBAL IN-VITRO DIAGNOSTICS MARKET, BY END USER 2017 & 2023 (USD MILLION) 54
FIGURE 9 GLOBAL IN-VITRO DIAGNOSTICS MARKET, BY REGION 2017 & 2023 (USD MILLION) 57
FIGURE 10 AMERICAS IN-VITRO DIAGNOSTICS MARKET, BY REGION COUNTRY 2017 (%) 58
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