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The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.

This MRFR perspective presents a detailed analysis of the global market for in-vitro diagnostics along with a five-year revenue for, until 2023. An exhaustive discussion on all the key market elements (drivers, restraints, growth trends and opportunities) is available in the research documents. The scope of the discussion also covers various IVD product & services such as reagents & kits, instruments and data management software. IVD technologies mentioned in the document include immunoassay/immunochemistry, molecular diagnostics, clinical chemistry, microbiology and hematology. Revenue analysis based on IVD application is also available in the report. Academic institutes, hospitals, and laboratories are analyzed under end-user market opportunity.

In-vitro diagnostics (IVDs) have gained a quick momentum as a modern medical diagnostic system. IVD is a revolutionary technology and is heavily being relied on for several types of laboratory-based tests performed on biological specimens. Development of better solutions for disease prevention, treatment and management continues to be the primary motive behind the consistent call for effective diagnostics technology. Most of modern testing and diagnostic activities are conducted using IVD. MRFR notes that the global market for in-vitro diagnostics surpassed a valuation of USD 69,200 Mn in 2017. The outlook remains positive for the market for the next couple of years. Advances in molecular diagnostics and the increasing acceptance of the precision medicine has expanded in-vitro diagnostics application in modern medicine. In addition, spurring of micro-size diagnostics centers in fast-developing countries is opening new windows of growth for the IVD industry.

In-Vitro Diagnostics Market Snapshot, In-vitro diagnostics (IVDs) have gained a quick momentum as a modern medical diagnostic system. IVD is a revolutionary technology and is heavily being relied on for several types of laboratory-based tests performed on biological specimens. Development of better solutions for disease prevention, treatment and management continues to be the primary motive behind the consistent call for effective diagnostics technology. Most of modern testing and diagnostic activities are conducted using IVD. MRFR notes that the global market for in-vitro diagnostics surpassed a valuation of USD 69,200 Mn in 2017. The outlook remains positive for the market for the next couple of years. Advances in molecular diagnostics and the increasing acceptance of the precision medicine has expanded in-vitro diagnostics application in modern medicine. In addition, spurring of micro-size diagnostics centers in fast-developing countries is opening new windows of growth for the IVD industry. , Report Synopsis , This MRFR perspective presents a detailed analysis of the global market for in-vitro diagnostics along with a five-year revenue for, until 2023. An exhaustive discussion on all the key market elements (drivers, restraints, growth trends and opportunities) is available in the research documents. The scope of the discussion also covers various IVD product & services such as reagents & kits, instruments and data management software. IVD technologies mentioned in the document include immunoassay/immunochemistry, molecular diagnostics, clinical chemistry, microbiology and hematology. Revenue analysis based on IVD application is also available in the report. Academic institutes, hospitals, and laboratories are analyzed under end-user market opportunity. , Companies Covered , Thermo Fisher Scientific, Abbott Laboratories, DiaSorin S.p.A, Becton Dickinson and Company, Sysmex Corporation, BioMérieux S.A, Qiagen N.V., Grifols S.A, Ortho Clinical Diagnostics, F. Hoffmann-La Roche AG, Siemens AG, Bio-Rad Laboratories Inc., and Danaher Corporation., The report offers insights into the leading market players and presents an assessment of their current market position. Company information with regards to revenue, segmental share, geog

The Global In-Vitro Diagnostics Market is projected to register a CAGR 8.16% during the forecast period from 2018 to 2023. This projects above-average growth for the market. In-vitro diagnostics include tests which are performed on tissue, blood or other samples taken from the human body and are used extensively for the testing of a large number of medical problems. Valued at USD 69,284.16 Mn in 2017, the global in-vitro diagnostics report is expected to grow to generate a market value of USD 102,555.24 Mn by the end of 2023.

Observations of the global health scenario indicate increasing incidences of chronic diseases. Diseases such as tuberculosis, diabetes, cancer, and cardiovascular diseases are growing rapidly in incidence, and the substantial rise in patients suffering from such diseases and a variety of other infectious and non-infectious disease has been highly conducive for the growth of the in-vitro diagnostics market. The rising prevalence of these diseases across the globe has substantially increased the demand for in-vitro diagnostics. Timely and efficient diagnosis has been vital in saving millions of lives; this has directly contributed to the appreciation of the global IVD market. Moreover, in-vitro diagnostics has advanced significantly in recent years with new tests being added to the current offerings in the market. Advancements in technology have given rise to personalized medicine which is a growing trend in diagnostics. Using advanced diagnostic techniques, it is possible to tailor treatment and therapeutics to a patients personal genetic profile in an effort to offer the patient the best chance at recovery with minimal side effects. The increasing potential of this type of diagnostics is expected to lead to the proliferation of the global in-vitro diagnostics market.

Presently, there is a lack of a sufficient reimbursement system for in-vitro diagnostics which is expected to restrain market growth. Varying international structures make it challenging to implement effective strategies on a global scale. Notably, IVD technologies have undergone significant development which has increased the appeal of in-vitro diagnostics. For instance, pregnancy tests have now become accessible for at-home use, making them highly convenient. In a similar vein, at-home testing of blood glucose levels with the help of point-of-care testing devices has increased the demand for such devices. This factor also indicates opportunity for the market due to the increasing demand for such technology. Moreover, the imminent growth of the IVD market in developing countries is highly promising and will likely result in market expansion in the coming years.

The global in-vitro diagnostics market, in the report, has been segmented on the basis of product & service, technology, application, end-user, and region. Products and services included in the in-vitro market are reagents & kits, instruments, data management software, and services. Reagents and kits account for a majority market share of 74.8% due to the increasing adoption of point-of-care testing. The services segment is projected to grow at the highest CAGR during the assessment period.

The technology used for in-vitro diagnostics is broadly segmented into clinical chemistry, immunoassay/immunochemistry, molecular diagnostics, hematology, microbiology, and others. The increasing preference for advanced technology due to its ability to provide faster results has catapulted the clinical chemistry segment into a leadership position. Meanwhile, the molecular diagnostics market is expected to grow with the highest CAGR of 6.41% during the forecast period.

In-vitro diagnostics have applications in non-infectious diseases and infectious diseases. IVD is used more commonly in the diagnosis of infectious diseases which valued USD 38,685 in 2017. However, the non-infectious diseases segment is expected to grow at the highest CAGR of 9.48% during the assessment period.

End-users of in-vitro diagnostics include laboratories, academic institutes, hospitals, and others. Hospitals account for a share of 39.4% of the market due to the fact that a majority of in-vitro diagnostic tests are performed in hospital laboratories. Meanwhile, the laboratories segment is likely to witness the fastest growth at the highest CAGR during the review period.

In-Vitro Diagnostics Market Regional Analysis

The Americas account for the largest share of over 39% of the global in-vitro diagnostics market. The region is divided into North America and South America, with North America being the larger market due to the concentration of developed economies such as the US and Canada. The regions increasing aged population is a key demographic which is encouraging the growth of the IVD market. Moreover, the North American region has witnessed and continues to witness high numbers of chronic diseases occurrences which contribute to the growth of the regional market. This among other factors have resulted in the region attaining a leadership position in the global in-vitro diagnostics market.

Europe accounts for the second largest market which has a comparable growth pattern to that of the Americas. Several health organizations have been working toward raising awareness of point-of-care testing in the region which has encouraged market growth. Moreover, increasing healthcare budgets and a focus on the early diagnosis of diseases are expected to help the region retain its market position over the forecast period.

Asia Pacific (APAC) accounts for the fastest growing market, while the Middle East and Africa (MEA) account for the lowest share of the market. Both regions are expected to witness similar CAGRs during the forecast period. The APAC is a lucrative market due to the presence of a considerable patient population and an increasing demand for advanced healthcare. Increasing expenditure on the development of healthcare infrastructure is expected to encourage market growth. Moreover, countries such as India and China have high birthrates which also fuels the demand for in-vitro diagnostics. Meanwhile, the MEA region is significant due to the presence of massive opportunity in the market.

In-Vitro Diagnostics Market Competitive Tracking

Profiling of prominent market players has been included in the report. Eminent market players that have been analyzed include F. Hoffmann-La Roche AG, Abbott Laboratories, Siemens AG, Bio-Rad Laboratories Inc, Qiagen N.V, BioMérieux S.A, Becton Dickinson and Company, DiaSorin S.p.A, Ortho Clinical Diagnostics, Grifols S.A, Danaher Corporation, Sysmex Corporation, and Thermo Fisher Scientific.