Roche Diagnostics and Abbott are Leading Players in the In-Vitro Diagnostics Market

 The growth of the In Vitro Diagnostics Market is mainly driven by the rising geriatric population and the subsequent growth in the prevalence of chronic and infectious diseases, increasing adoption of fully automated and POC instruments in developed regions, growing awareness regarding diseases diagnosis in developing regions, and growing R&D investments by industry players to launch new IVD products. Also, the development of disease-specific markers and tests is expected to offer potential growth opportunities to market players in the coming years. However, the unfavorable reimbursement scenario is expected to restrain the growth of this market during the forecast period.

 

The global In Vitro Diagnostics Market is projected to reach USD 113.1 billion by 2026 from USD 98.2 billion in 2021, at a CAGR of 2.9% during the forecast period.

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The IVD market is highly competitive, with several companies holding substantial market shares. The top five players in this market hold ~65–70%. Roche Diagnostics (Switzerland), Siemens Healthineers (Germany), Danaher Corporation (US), Abbott (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 N.V. (Netherlands). These players have adopted various growth strategies such as acquisition, product launches, and expansion to increase their presence and reach in the medical device contract manufacturing market.

ROCHE DIAGNOSTICS

Roche Diagnostics is a leading player in the IVD market, accounting for a share of around 20--22% in 2020. The company’s leading position in the IVD market is attributed to its wide product portfolio, which includes clinical chemistry, immunochemistry, molecular diagnostics, tissue diagnostic instruments, reagents, and kits. Under its flagship brand—cobas—the company offers a variety of IVD instruments, reagents, and kits widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe. Roche Diagnostics mainly focuses on product launches and strategic partnerships & collaborations to maintain its leading position in the market.

ABBOTT LABORATORIES

Abbott Laboratories accounted for ~12-15% of the IVD market in 2020. Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strengthening its business operations in emerging high-growth markets. The company has a strong product portfolio, and its FDA- and CE-approved products have helped it maintain and enhance its presence in the IVD market. The company is presently developing next-generation instrument platforms, such as the PLEX-ID platform and other advanced patient self-testing technologies.

DANAHER CORPORATION

Danaher Corporation held the third position in the IVD market with an 8-10% share in 2020. The company operates in Europe, North America, and the Asia Pacific and has 242 manufacturing and distribution facilities worldwide. Danaher operates in the IVD market through its subsidiaries, namely, Beckman Coulter Inc. (US), Leica Biosystems GmbH (Germany), Cepheid (US), HemoCue AB (Sweden), AB SCIEX Pte. Ltd. (US), and Radiometer Medical ApS (Denmark). Its focus on product development and launches helps it maintain its market position. Growth through strategic acquisitions could also help the company expand its product portfolio and market presence. For instance, in March 2020, the company acquired certain business portfolios from the General Electric Company to expand its diagnostics business.

SIEMENS HEALTHINEERS

Siemens held the fourth position in the IVD market with a 7-10% share in 2020. The company’s share in the IVD market is attributed to its strong geographical presence across the globe and broad portfolio of immunoassays, clinical chemistry, hemostasis, and infectious disease diagnostics products. Over the years, the company has strengthened its presence in the global IVD market by launching innovative solutions and expanding its presence in high-growth markets. The company also focuses on product launches and agreements to improve its presence in the IVD market.

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THERMO FISHER SCIENTIFIC, INC.

Thermo Fisher Scientific, Inc. held the fifth position in the IVD market with a share of 5-6% in 2020. The company offers analytical instruments, reagents and consumables, equipment, software, and services for manufacturing, research, analysis, discovery, and diagnostics. It also offers aftermarket services, customer support, temperature-controlled repository services, and technical support for its enteric disease testing products.

Medical Device Outsourced Manufacturing Market worth $56.2 billion by 2026 - Exclusive Report by MarketsandMarkets™

 Medical Device Outsourced Manufacturing Market  by Device Type (IVD (Equipment, Consumable), Diabetes, Respiratory, Cardiovascular, Personal Care, Endoscopy, Dental, Ophthalmology, Devices) Class of Device, Services, Procedure - APAC Forecast to 2026", published by MarketsandMarkets™, the APAC Medical Device Outsourced Manufacturing Market is projected to reach USD 56.2 billion by 2026 from USD 29.3 billion in 2021 and is expected to grow at a CAGR of 13.9% during the forecast period.

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200 – Tables 
61 – Figures
306 – Pages

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The Asia Pacific market is mainly driven by the overall growth of the medical devices market, mainly due to the rising disease prevalence, life expectancy, and geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to outsource contract manufacturing.

However, market growth is impeded by the growing consolidation in the medical devices market. To develop their own manufacturing capabilities and save costs, Larger players are focusing on acquiring smaller players and CMOs themselves. This may affect the overall market growth to a certain extent.

The IVD devices segment accounted for the largest share of Asia Pacific medical device outsourced manufacturing market in 2020

Based on device type, the Asia Pacific market is broadly segmented into IVD devices, diagnostic imaging devices, cardiovascular devices, drug delivery devices, orthopedic devices, respiratory care devices, ophthalmology devices, surgical devices, diabetes care devices, dental devices, endoscopy devices, gynecology/urology devices, personal care devices, neurology devices, and other devices. In 2020, the IVD devices segment accounted for the largest share of the Asia Pacific market. The large share of this segment can be attributed to the increasing volume of IVD tests performed globally, increasing availability of IVD kits and reagents in the market, a growing number of hospitals and clinical laboratories in developing countries, automation and technological advancements in instruments with high-throughput capabilities, high demand for IVD tests in the COVID-19 pandemic, and advances in life science research.

Class II medical devices segment accounted for the largest share of APAC market in 2020.

Based on the class of device, the medical device outsourced manufacturing market is segmented into Class I, Class II, and Class III medical devices. In 2020, the Class II medical devices segment accounted for the largest share of the Asia Pacific market. The large share of this segment can be attributed to the large number of medical devices outsourced that fall under this device class and the utilization of a higher volume of these devices by end users and caregivers in the healthcare industry.

In 2020, device development and manufacturing services segment accounted for the largest share of the Asia Pacific market

Based on service, the Asia Pacific medical device outsourced manufacturing market is segmented into device development and manufacturing services, quality management services, packaging and assembly services and other services. In 2020, the device development and manufacturing services segment dominated this market. The increasing adoption of contract manufacturing services in the medical device industry, growth in the medical devices market (especially in the single-use disposable medical devices market), and improving device development and manufacturing capabilities are the major factors responsible for the large share of this segment.

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In 2020, production segment accounted for the largest share of Asia Pacific medical device outsourced manufacturing market

Based on process, the Asia Pacific market is broadly segmented into production, prototyping, pilot production, design for manufacturing, process evaluation, validation, project management, packaging, and assembly. In 2020, the production segment accounted for the largest share of the market. The large share of this segment can be attributed to the growing number of medical device companies outsourcing their production tasks to minimize manufacturing costs.

China is expected to witness fastest growth during the forecast period of 2021–2026.

The Asia Pacific medical device outsourced manufacturing market, by country, has been segmented into China, Japan, Malaysia & Singapore, India, Australia & New Zealand, South Korea, and the Rest of APAC. China is expected to witness fastest growth during the forecast period of 2021–2026. China's fastest growth is mainly due to the lower cost of raw materials and labor in the country than in developed countries. The increasing demand for medical devices due to improving healthcare infrastructures, adoption of technologically advanced products, and increasing awareness of diagnosis are also expected to drive the growth of this market.

The prominent players in this medical device outsourced manufacturing market are Flex, Ltd. (Singapore), Jabil, Inc. (US), TE Connectivity, Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica International (Canada), Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings Corporation (US), Gerresheimer Ag (Germany), West Pharmaceutical Services, Inc. (US), Nortech Systems, Inc. (US), Consort Medical PLC (UK), Kimball Electronics Inc. (US), and Teleflex Incorporated (US), Nordson Corporation (US), Tecomet, Inc. (US), SMC Ltd. (US), Nemera (France), and Tessy Plastics Corporation (US), among others.

Laboratory Proficiency Testing Market worth $1.4 billion by 2026 - Exclusive Report by MarketsandMarkets™

 The growth of laboratory proficiency testing market is primarily driven by factors such as it forms an essential precondition for operational excellence and accreditation in several industries. Also, the increasing number of laboratory accreditations, stringent safety and quality regulations for food and pharmaceutical products and the increasing focus on water testing are the other major factors supporting market growth. However, the requirement of high capital investments for accurate and sensitive testing is expected to restrain the growth of this market during the forecast period. The growth of the pharmaceutical proficiency testing market is driven by Stringent quality control in the production of pharmaceutical products, Growth of the pharmaceuticals market, Surge in the generics market, and Emerging biosimilars market while the major restraining factor is Cost and time-intensive drug manufacturing process.

The global laboratory proficiency testing market is projected to reach USD 1.4 billion by 2026 from USD 1.0 billion in 2021, at a CAGR of 6.4%. 

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Market Segmentation:

Based on industry, the laboratory proficiency testing market is segmented into clinical diagnostics, food & animal feed, pharmaceuticals, microbiology, environmental, water, biologics, commercial beverages, cannabis/opioids, cosmetics, dietary supplements, and nutraceuticals. In 2020, the clinical diagnostics segment accounted for the largest share of the market. The large share of this segment is attributed to the development of complex diagnostic tests and the need for early diagnosis, which makes quality management with the use of proficiency testing an essential aspect of clinical diagnostics.

Based on technology, the global laboratory proficiency testing market has been segmented into spectrophotometry, chromatography, PCR, immunoassays, cell culture, and other technologies. The cell culture segment accounted for the largest share of the market in 2020. Growing awareness regarding the use of cell cultures in the production and testing of various clinical diagnostics samples, microbiology samples, and biopharmaceuticals is supporting the growth of this market.

Regional Analysis:

The laboratory proficiency testing market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share in the market. The large share of this region can be attributed to the mandatory adoption of laboratory proficiency testing to demonstrate operational excellence, increasing regulatory stringency regarding laboratory operations. The emerging markets across the Asia Pacific and Latin America are expected to grow at higher CAGRs during the forecast period. With significant growth in outsourcing services in the past few years, China and India have emerged as high-growth markets for laboratory proficiency testing. South Korea is another growing market in the APAC region. Other than these APAC countries, Latin American countries also show significant growth potential for the market.

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Top Key Players :-

The prominent players in the laboratory proficiency testing market are LGC Limited (UK), American Proficiency Institute (US), College of American Pathologists (US), Bio-Rad Laboratories (US), Randox Laboratories (UK), Merck (Germany), Fapas (Fera Science Ltd.) (UK), Waters Corporation (US), Weqas (UK), AOAC INTERNATIONAL (US), BIPEA (France), NSI Lab Solutions (US), Absolute Solutions (US), Trilogy Analytical Laboratories (US), Advanced Analytical Solutions (US), American Industrial Hygiene Association (US), Matrix Sciences (US), Aashvi Proficiency Testing & Analytical Services (India), and Global Proficiency (New Zealand).

 

Stem Cell Therapy Market worth $401 million by 2026 - Exclusive Report by MarketsandMarkets™

 The Market growth is driven mainly by factors such as increasing investment in stem cell research and the rising number of GMP-certified stem cell manufacturing plants. However, factors such as ethical concerns and the high cost of stem cell research and manufacturing process likely to hinder the growth of this market.

The global stem cell therapy market is projected to reach USD 401 million by 2026 from USD 187 million in 2021, at a CAGR of 16.5% during the forecast period.

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Market Segmentation

Based on the cell source from which stem cells are obtained, the global market is segmented into four sources. These include adipose tissue-derived MSCs (mesenchymal stem cells), bone marrow-derived MSCs, placenta/umbilical cord-derived MSCs, and other cell sources (which includes human corneal epithelium stem cells, peripheral arterial-derived stem cells, and induced pluripotent stem cell lines). In 2020, adipose tissue-derived MSCs accounted for the markets largest share due to their increasing utilization in treating inflammatory diseases and wounds & injuries. There are several associated advantages, such as ease of harvesting stem cells by minimally invasive methods, simplicity of the isolation procedure, and better quality & proliferation capacity of adipose tissue-derived stem cells.

Based on therapeutic application, the global market is segmented into musculoskeletal disorders, wounds & injuries, cardiovascular diseases, surgeries, inflammatory & autoimmune diseases, neurological disorders, and other therapeutic applications (which include ocular diseases, fat loss, and peripheral arterial diseases). In 2020, the musculoskeletal disorders segment accounted for the largest share of the therapeutic application segment. The large market share of this segment is attributed to the increasing prevalence of musculoskeletal disorders such as osteoarthritis, bone repair, and regeneration

Regional Analysis:

The Asia Pacific region is estimated to grow at the highest CAGR in the market during the forecast period. Some of the major factors fueling the growth of the APAC market include regulatory approvals and guidelines for product approvals and the presence of major stem cell players in countries such as South Korea, Japan, India, and Australia.

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Top Key Players:

Key players in the Stem Cell Therapy Market include Smith & Nephew (UK), MEDIPOST Co., Ltd. (South Korea), Anterogen Co., Ltd. (South Korea), PHARMICELL Co., Ltd. (South Korea), JCR Pharmaceuticals Co., Ltd. (Japan), and NuVasive, Inc. (US).

Breast Biopsy Market: Growing incidence of breast cancer

 Technological advancements in the field of a breast biopsy and the rising incidence of breast cancer are the major factors driving the growth of this market. Additionally, the growing adoption of advanced techniques for breast cancer screening and rising government and private investments for improving breast cancer care are some of the other significant factors driving the growth of this market.

What the Market Looks Like?

The report Breast Biopsy Market is projected to reach USD 1,094 million by 2025 from USD 725 million in 2020, at a CAGR of 8.6% during the forecast period.

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Market Segmentation: -

Based on the product, the breast biopsy market is segmented into biopsy needles, guidance systems, biopsy tables, localization wires, assay kits, liquid biopsy instruments, and other products. In 2019, the biopsy needles held significant share of the market. The major share of this segment is primarily attributed to the rising incidence of breast cancer and the growing breast cancer diagnosis rate in developing countries.

Based on guidance, the Breast Biopsy Devices Market is segmented into image-guided biopsy and liquid biopsy. The liquid biopsy segment is further divided into NGS-based, PCR-based, and Microarray-based biopsy. Among these, the NGS-based biopsy segment is expected to register significant growth over the forecast period.

Based on type, the Breast Biopsy Devices Market is segmented into needle breast biopsy, open surgical breast biopsy, and liquid breast biopsy. In 2019, the needle breast biopsy held a major share of the breast biopsy market. Needle biopsy has replaced conventional excisional biopsy as the standard diagnostic procedure for breast cancer.

What Drives the Market?

The growth of the global market for Breast Biopsy is primarily influenced by the following factors:

1 Growing incidence of breast cancer
2 Increasing number of breast cancer screening programs
3 Increasing demand for minimally invasive and non-invasive procedures
4 Growing awareness regarding early detection of breast cancer
5 Improved reimbursement scenario

Regional Analysis: -

The breast biopsy market is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the breast biopsy market in 2019.

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Top Key Players: -

The major players operating in the breast biopsy market are Hologic, Inc. (US), Becton, Dickinson and Company (US), Danaher Corporation (US), Merit Medical Systems (US), QIAGEN (Netherlands), Biocept Inc. (US), Bio-Rad Laboratories, Inc. (US), F. Hoffmann-La Roche Ltd (Switzerland), Menarini Silicon Biosystems, Spa (Italy), Exact Sciences Corporation (US), Illumina, Inc. (US), and Fluxion Biosciences Inc (US), among others.

Genomics Market worth $54.4 billion by 2025 - Exclusive Report by MarketsandMarkets™

 "Genomics Market by Product & Service (System & Software, Consumables, Services), Technology (Sequencing, PCR), Application (Drug Discovery & Development, Diagnostic, Agriculture), End User (Hospital & Clinics, Research Centers) – Global Forecast to 2025", published by MarketsandMarkets™, the global Genomics Product And Service Market is projected to reach USD 54.4 billion by 2025 from USD 22.7 billion in 2020, at a CAGR of 19.0% during the forecast period.

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194 – Pages

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Scope of the Report:

The study categorizes the market into the following segments and subsegments:

Genomics Market, by Product & Service

• Systems & Software
• Consumables
• Services

Genomics Market, by Technology

• Sequencing
• PCR
• Nucleic Acid Extraction and Purification
• Microarray
• Other Technologies

Genomics Market, by Application 

• Drug Discovery and Development
• Diagnostics
• Agriculture and Animal Research
• Other Applications

Genomics Market, by End User

•  Hospitals & Clinics  
• Research Centers and Academic & Government Institutes,
• Pharmaceutical & Biotechnology Companies
• Other End Users

Genomics Market, by Region

• North America
• US
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• Rest of the World
• Latin America
• The Middle East and Africa

The major factors driving the growth of this market include the increasing government funding to support genomics projects, the growing incidence of cancer and increasing applications of NGS in cancer research, the entry of new players and start-ups in the genomics product and service market, and the growing application areas of genomics.

The next generation sequencing sub segment accounted for the largest share of the sequencing technology segment in the genomics market in 2019.

Based on technology, the market is segmented into sequencing technologies, PCR, nucleic acid extraction and purification, microarrays, and other technologies. The sequencing segment is further sub segmented into next-generation sequencing (NGS) and other sequencing technologies. In 2019 the next-generation sequencing technology accounted for the largest share of the genomics market. The advantages associated with NGS such as ultra-high-throughput, scalability, and high speed, enable researchers to perform a wide variety of applications, including animal breeding, agriculture, and human genomics. This is one of the major drivers of this segment.

The hospitals and clinics segment accounted for the largest share of the end user segment in the genomics product and service market in 2019.

Based on end users, the genomics market is segmented into hospitals & clinics, research centers and academic & government institutes, pharmaceutical & biotechnology companies, and other end users. In 2019, the hospitals & clinics segment accounted for the largest share of the market. Hospitals & clinics are shifting from traditional genomic testing methods to cost-effective and more sensitive methods, such as whole-exome sequencing, which is a major factor driving the market growth.

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The Asia Pacific region is the fastest growing region of the genomics market in 2019.

In 2019, the Asia Pacific region accented for the fastest growing region of the market. It is also estimated to grow at the highest CAGR in the genomics product and service market during the forecast period, mainly due to favorable government support for genomics projects, increasing awareness about newer genomics technologies such as NGS, and expansions of key players to strengthen their presence in the APAC region.

Some of the leading players operating in the genomics product and service market are Illumina, Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), and BGI (China).

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