Albany, NY (PRWEB) December 09, 2014
According to the study report, the global In-vitro diagnostics (IVD) market is expected to grow at a CAGR of more than 6% in the forecast period, 2014 to 2020. The market is estimated to reach a market size of more than US$90 by the end of 2020.
The in-vitro diagnostics (IVD) test is an effective technique performed by isolating tissue specimens and blood for thorough detection of body’s condition. These tests help in the prevention and control of diseases.
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An increase in the number of infectious and chronic diseases is the major factor driving growth into the global In-Vitro diagnostics market. Also, rising awareness among population, cost-effectiveness, widespread knowledge of healthcare and its benefits, demand for POCT devices, and other technological advancements are some additional and significant factors responsible for boosting high growth and demand for IVD devices in the global IVD market.
Nevertheless, affordability of healthcare diagnostics, reimbursement issues, and intensified competition are factors hindering the global IVD market growth.
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The report covers the current market trends, growth drivers and restraining factors impacting the global IVD market. It provides analysis of all the recent developments in technology and market projections predicted for the coming years. The global In-vitro diagnostics market is segmented based on IVD techniques, IVD product type, and IVD applications market analysis.
Considering the market in terms of IVD techniques, the market is further segmented into haematology, coagulation, microbiology, molecular diagnostics, Immunochemistry or Immunoassay, clinical chemistry, and other clinical instruments. Among the various techniques, the immunochemistry or Immunoassay segment accounted for the largest share in 2013. This market segment is likely to surge high growth at a steady pace in the future, while, the molecular diagnostics market sector is all set to register a CAGR of more than 9% from 2014 to 2020.
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Furthermore, the IVD product type segment is categorized into data management software/hardware, instruments, reagents, and services. The reagents market segment held the largest share in 2013 and growth is still expected to grow at the highest CAGR of more than 7% over the forecast period.
Along with Porter’s five force model analysis and information of other detailed profiles of key players, the report also includes the in-depth analysis of the global IVD market in terms of various regions. These are namely, North America, Europe, Asia Pacific and Rest of the World (RoW).
Of all, North America is the largest revenue generating region and is expected to grow strong in the forthcoming years. While, the Asia Pacific region stands second in position as the fastest growing region that is expected to register the highest CAGR of more than 8% from 2014 to 2020.
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Some notable players in the In-vitro diagnostics market include, Bayer AG (Germany), Sysmex Corporation (Japan), Bio-Rad Laboratories (U.S.), Becton, Dickinson And Company (U.S.), Alere (U.S.), Abbott Laboratories Inc (Illinois), Siemens Healthcare (Germany), Roche Diagnostics Limited (Switzerland), Johnson & Johnson (USA), Danaher Corporation (U.S.), and Biomerieux (France).
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