Axiom Market Research & Consulting™ added a report on global in-vitro diagnostics (IVD) market. The global in-vitro diagnostics (IVD) market was valued at USD 66.7 billion in 2017, growing at a CAGR of 5.50% for the forecast period 2019 to 2024. The global market is estimated and forecasted in terms of revenue (USD billion) generated by the in-vitro diagnostics (IVD) market.
The global In-Vitro Diagnostics (IVD) Market is segmented based on product type, technique, therapeutic application, end users, and geography. Based on product type, the market is segmented into instruments, reagents & consumables, data management software, and services. Among the various product types of IVD, the market for reagents was highest in 2017, followed by instruments and data management software. The reagents used in diagnostic testing assays are one of the most fundamental and critical components necessary for a medical laboratory to properly function.
The major techniques covered in the reports are immunoassay, clinical chemistry, microbiology, molecular diagnostics, hematology, coagulation & homeostasis and others. The immunoassay technique dominated the market in 2017. Whereas, the market for molecular diagnostics is projected to be the fastest growing during the forecast period 2019 to 2024. This growth is attributed to the rising need for usage of molecular diagnostics technique in diagnosing, increasing number of infectious diseases, as well as chronic diseases like cancer, tumor, and diabetes among others.
The Global In Vitro Diagnostics Market Is Further Segmented By Therapeutic Application Such As:
Infectious diseases, cancer/oncology, endocrinology, cardiology, diabetes, nephrology, and others. The usage of IVD is very high in infectious diseases followed by diabetes and cancer/oncology.
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The report covers the market share of end users of in vitro diagnostics market such as hospitals, clinical laboratories, academic & research institutes, physician offices, patient-self testing and others. The physician offices end-user segment is anticipated to grow at the highest CAGR from 2019 to 2024. The global in-vitro diagnostics (IVD) market is studied for North America, Europe, Asia-Pacific, and RoW that includes the Middle East & Africa and the remaining countries.
The global in-vitro diagnostics (IVD) market is driven by factors such as growing healthcare reforms & infrastructure in developing countries and increasing managed healthcare organizations in the developed countries. The rapidly changing healthcare segment with the entry of new technique or reagent every single day has elicited the growth of IVD market. Moreover, the changing customer demands, rising incidence of chronic and infectious diseases, increasing the importance of preventive check-up and the ever-increasing patient population is driving the IVD market globally.
Global In-Vitro Diagnostics (IVD Market Research Report: Buy Now
The Leading Players of the Global In-Vitro Diagnostics (IVD) Market Are:
Abbott Laboratories, Alere Inc., bioMérieux, Bayer AG, Danaher Corporation, Johnson & Johnson Inc., Ortho-clinical Diagnostics, Siemens AG, Sysmex Corporation and F. Hoffmann La Roche Ltd. among others.
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