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.
The In Vitro
Diagnostics Market is projected to reach USD 106.5 billion
by 2027 from USD 68.1 billion in 2018, at a CAGR of 4.9%.
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Based on applications, the IVD market is
segmented into diabetes, infectious diseases, oncology, cardiology, nephrology,
autoimmune diseases, drug testing/pharmacogenomics, HIV/AIDS, and other
applications (neurological tests, endocrine tests, blood analysis tests,
pregnancy tests, and general clinical applications). The infectious diseases
segment accounted for the largest share of the IVD applications market in
2017.
Based on technology, the in vitro
diagnostics market is broadly divided into immunochemistry/immunoassay,
clinical chemistry, molecular diagnostics, hematology, microbiology,
coagulation & hemostasis, urinalysis, and other technologies (patient
self-testing, point-of-care testing, lateral flow assays, and tissue
processing). The immunochemistry/immunoassay segment is expected to dominate
the market in 2018.
Based on end user, the market is segmented
into laboratories (large/reference laboratories, medium-sized laboratories, and
small laboratories), hospitals, academic institutes, point-of-care testing,
patient self-testing, and other end users. The point-of-care testing segment is
expected to grow at the highest CAGR during the forecast period. The rising
prevalence of infectious diseases in developing countries and increasing
incidence of cardiac diseases and diabetes are the major factors driving the
demand for POC tests.
Geographically, the market is segmented
into North America, Europe, Asia Pacific, Latin America, and the Middle East
& Africa. In 2018, North America is expected to dominate the market
followed by Europe.
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The prominent players in the global in
vitro diagnostics market include Roche Diagnostics (Switzerland), Siemens
Healthineers (Germany), Danaher Corporation (US), Abbott Laboratories (US),
Thermo Fisher Scientific (US), Johnson & Johnson (US), Becton, Dickinson
and Company (US), Bio-Rad Laboratories (US), Sysmex Corporation (Japan), bioMérieux
(France), DiaSorin (Italy), Ortho Clinical Diagnostics (US), Agilent
Technologies (US), and QIAGEN (Germany).
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