In Vitro Diagnostics Market worth $87.93 Billion by 2023, at a CAGR of 5.2%

The In Vitro Diagnostics Market is projected to reach USD 87.93 billion by 2023 from USD 68.12 billion in 2018, at a CAGR of 5.2%.
Factors such as increasing burden of chronic diseases (majorly due to the rising geriatric population), rising prevalence of infectious diseases, rising demand for early disease diagnosis using specialized tests, growing awareness on personalized medicine, increasing adoption of fully-automated instruments and automation in laboratories, and increasing adoption of point-of-care testing are driving the market growth.
Moreover, the introduction of a new range of condition-specific markers and tests, with advances in genomics and proteomics, is expected to offer significant growth opportunities for market players during the forecast period.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=703

In Vitro Diagnostics Market segmentation:

·         based on products

·         based on diseases

·         based on techniques,

·         based on application

·         based on end users

·         Based on regions.

The Major Players Opearting in the In Vitro Diagnostics Market:

The in vitro diagnostics market is highly competitive with several companies holding substantial market shares. The top five players in this market hold a share of ~55–60% in 2017. Roche Diagnostics Limited (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott Laboratories (US), and Thermo Fisher Scientific (US) are the leading players in this market. Other players in this market are Johnson & Johnson (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux (France), Diasorin (Italy), Ortho-Clinical Diagnostics (US), and Qiagen (Germany). Major players in this market are continuously focusing on securing higher market shares through product launches, expansions, agreements, partnerships, collaborations, and acquisitions.

Geographical Detailed Analysis for In Vitro Diagnostics Market: The in vitro diagnostics market, by region, has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2017, North America dominates the market; and Asia Pacific is expected to witness the highest CAGR during the forecast period, owing to factors such as government efforts to increase awareness about the early detection of diseases and regular health check-ups; continuously rising healthcare expenditure; increasing number of hospitals and clinical diagnostic laboratories in India and China; and strengthening research base for diagnostic procedures across India, China, and Japan. Furthermore, the rapidly increasing geriatric population in Asian countries (particularly in Japan and China) and supportive government regulations will further aid the growth of this market during the forecast period.

Read More in Detailed (In Vitro Diagnostics Market):

https://www.marketsandmarkets.com/PressReleases/ivd-in-vitro-diagnostics.asp