Global In Vitro Diagnostics (IVD) Market Global Industry Insights, and Opportunity Analysis - 2024
In Vitro Diagnostics (IVD) Market report categorizes global market by Product Type (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disorders), End User (Hospitals, Laboratories, Homecare Diagnostics, Research Institutes), and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2024
In Vitro Diagnostics (IVD) Market report categorizes global market by Product Type (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disorders), End User (Hospitals, Laboratories, Homecare Diagnostics, Research Institutes), and Geography - Insights, Opportunity Analysis, and Industry Forecast till 2024
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<strong>Global</strong> <strong>In</strong> <strong>Vitro</strong> <strong>Diagnostics</strong> (<strong>IVD</strong>) <strong>Market</strong> -<br />
GLOBAL INDUSTRY INSIGHTS, TRENDS,<br />
OUTLOOK, AND OPPORTUNITY ANALYSIS, 2016-<br />
<strong>2024</strong><br />
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REPORT DESCRIPTION<br />
<strong>Global</strong> <strong>In</strong> <strong>Vitro</strong> <strong>Diagnostics</strong> (<strong>IVD</strong>) <strong>Market</strong> – Overview<br />
Diagnostic tools account for considerable share of global healthcare revenue. Its reach ranges from hospitals <strong>and</strong><br />
clinics to that in research centers. As such, <strong>In</strong> <strong>Vitro</strong> Diagnostic (<strong>IVD</strong>) market share has witnessed increase in recent<br />
past, further highlighted its key role in the healthcare industry. <strong>IVD</strong> has led to cut down in hospital staying costs<br />
along with faster diagnosis results. According to the U.S. FDA, in-vitro diagnostic products are those reagents,<br />
instruments, <strong>and</strong> systems intended for use in diagnosis of disease or other conditions, including determination of<br />
the state of health, in order to cure, mitigate, treat, or prevent disease or its sequelae. Such products are intended for<br />
use in the collection, preparation, <strong>and</strong> examination of specimens taken from the human body.<br />
Over the last decade, the <strong>In</strong> vitro diagnostics (<strong>IVD</strong>) market has witnessed substantial growth. However, the growth<br />
trajectory witnessed declining motion between 2008 <strong>and</strong> 2012. The effect was prolonged to 2014 in Europe.<br />
Economic downturn in Europe coupled with low healthcare expenditure are factors responsible for marginal<br />
dem<strong>and</strong> in <strong>IVD</strong>. However, as the healthcare growth trajectory is on growth path post-2015, especially in Asia<br />
Pacific, the <strong>In</strong> vitro diagnostics (<strong>IVD</strong>) market is expected to re-bounce to higher growth trajectory. Also, growing<br />
point of care solution is expected to boost the molecular diagnostics, in turn driving growth of the market<br />
worldwide.<br />
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REPORT DESCRIPTION<br />
<strong>In</strong>fectious diseases has emerged as the highest revenue contributor<br />
among application segment<br />
<strong>In</strong>fectious diseases has emerged as the highest revenue generating application for <strong>In</strong> vitro<br />
diagnostics (<strong>IVD</strong>) market industry players. The segment is expected to grow by 1.5X at a CAGR<br />
of 4.4% between 2016 <strong>and</strong> <strong>2024</strong>. <strong>In</strong>fectious diseases prevalence has increased considerably in<br />
past. Morbidity cases in tuberculosis, salmonella <strong>and</strong> meningococcal disease was as high as<br />
90,000 in U.S. in 2016. As a result, the dem<strong>and</strong> for <strong>IVD</strong> from diagnostic centers has increased<br />
substantially. As per the Centers for Disease Control <strong>and</strong> Prevention (CDC), over 3.9 million<br />
patients visited hospital outpatient department for infectious <strong>and</strong> parasitic diseases. Dem<strong>and</strong><br />
for <strong>IVD</strong> is expected to register fastest growth in detection of autoimmune disorders <strong>and</strong><br />
infectious diseases.North America is highest contributing region for <strong>In</strong> vitro diagnostics (<strong>IVD</strong>)<br />
market, with a projected market share of 46.7% by <strong>2024</strong>, exp<strong>and</strong>ing at the fastest CAGR of<br />
5.4% between 2016 <strong>and</strong> <strong>2024</strong>. Changing healthcare l<strong>and</strong>scape, favorable regulatory policies<br />
such as Medicaid <strong>and</strong> Medicare along with significant healthcare spending (16.7%) is expected<br />
to boost the market for <strong>IVD</strong> in the region.<br />
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REPORT DESCRIPTION<br />
<strong>Global</strong> <strong>In</strong> <strong>Vitro</strong> <strong>Diagnostics</strong> (<strong>IVD</strong>) <strong>Market</strong> : Key Players<br />
Major players involved in the lobal <strong>In</strong> vitro diagnostics (<strong>IVD</strong>) market include:<br />
●<br />
Roche <strong>Diagnostics</strong><br />
●<br />
Siemens Healthineers<br />
●<br />
Abbott Laboratories<br />
●<br />
Sysmex Corporation<br />
●<br />
Bio-Rad Laboratories<br />
●<br />
BioMérieux<br />
●<br />
Becton<br />
●<br />
Dickinson <strong>and</strong> Company<br />
●<br />
Danaher Corporation<br />
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