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In Vitro Diagnostics (IVD) Market by Expected Reach from $93,614 Million, By Leading & Growing at a CAGR of 4.8% from 2018 to 2025 – Allied Market Research

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In Vitro Diagnostics (IVD) Market by Expected Reach from $93,614 Million, By Leading & Growing at a CAGR of 4.8% from 2018 to 2025 – Allied Market Research

August 31
14:42 2019
In Vitro Diagnostics (IVD) Market by Expected Reach from $93,614 Million, By Leading & Growing at a CAGR of 4.8% from 2018 to 2025 – Allied Market Research

In Vitro Diagnostics (IVD) Market
Surge in prevalence of infectious diseases across the globe is anticipated to significantly drive the growth of the in vitro diagnostics market. Furthermore, cost-effective diagnostic solutions is the key factor that augments the market growth.

According to a new report published by Allied Market Research, titled, In Vitro Diagnostics Market by Product Type, Techniques, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,”the market was valued at $64,479 million in 2017, and is projected to reach $93,614 million by 2025, growing at a CAGR of 4.8% from 2018 to 2025. North America is anticipated to be the highest revenue contributor throughout the forecast period.

Increase in awareness about healthcare, rise in incidence of chronic and infectious disease, and cost-effective diagnostic solutions fuel the market growth. Similarly, increase in use of automated instruments & point-of-care diagnostic solutions, rise in government expenditure on healthcare in all the regions (North America, Europe, Asia-Pacific, and LAMEA), and accurate and faster test results are expected to boost the growth of the global IVD market. On the contrary, stringent regulations, policies, and unclear reimbursement rules are anticipated to restrain the market growth.

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In vitro diagnostics (IVD) field has evolved with technological advancements in the diagnostic techniques and awareness about healthcare in the emerging market. IVD has a wide range of applications in the diagnosis of various diseases such as infectious diseases, diabetes, oncology/cancer, cardiology diseases, autoimmune diseases, nephrology, and HIV/AIDS.

Based on product type, the reagents segment accounted the highest market share in 2017 due to the large number of reagents introduced in the market for the diagnosis of medical conditions using IVD process.

Based on techniques, the immunodiagnostics segment contributed the highest market share in 2017 due to the increase in usage of immunodiagnostics as these tests are the oldest and highly used techniques for the diagnosis infectious diseases, oncology detection, HIV/AIDS virus detection, and others.

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Based on application, the infectious diseases segment contributed the highest market share in 2017 due to increase in prevalence of infectious diseases and rise in awareness of preventive health measures.

North America is expected to be the leading regional market for IVD through 2025 due to its well-penetrated healthcare system and higher healthcare awareness among the patients, including Obamas Affordable Care Act (ACA), change in technology, and rebounding American Economy. However, Asia-Pacific is expected to grow at the highest CAGR of 5.9% from 2018 to 2025 due to significant increase in the number of well-equipped hospitals with advanced healthcare systems to cater the needs of the large patient population.

Leading market players:-

Leading market players analyzed in the research include Abbott Laboratories, Becton, Dickinson and Company, bioMrieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation (Beckman Coulter, Inc.), F. Hoffmann-La Roche Ltd., Johnson & Johnson, QIAGEN N.V., Sysmex Corporation, and Thermo Fisher Scientific, Inc.

 

Similar Reports:

U.S. IVD Market by Product Type, Technique, Application, and End Users – Opportunity Analysis and Industry Forecast, 2017-2023

France IVD Market by Product Type, Technique, Application, and End Users – Opportunity Analysis and Industry Forecast, 2017-2023

 

About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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