Europe market is one of the largest markets for In-Vitro diagnostics owing to its technological advancements and innovations.
Hyderabad, India -- (SBWIRE) -- 03/21/2018 -- In-Vitro diagnostics are designed to check a sample of tissue or body fluids for microorganism cultures or blood sugar. They're conjointly used for testing changes within the liver operate, an imbalance in atomic levels which are required in the body and electrolytes within the blood akin to Sodium, urea, potassium, and Creatinine. The top users of In Vitro nosology market are typically Laboratories, Hospitals, educational establishments, Point-of-care testing centers.
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Europe In-vitro diagnostics market is estimated to have a value of USD 12.48 billion in 2016. With a CAGR of 5.1%, the market size is expected to grow rapidly to cross USD 16.01 billion by 2022.
Increased number of patients with the chronic diseases is the main reason that is boosting the market size for the past few years.
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Initially, a bioassay was undertaken in laboratories but in the recent days, one will test by putting up samples on test sticks. These tests are correct, less long, and may be simply performed. Similarly, the blood sugar levels testing will be done more effectively and precisely compared to a glucometer. Similarly, the HIV test can even be conducted employing a mouth swab that's built-in within the diagnosing device provides results in 20-40 minutes.
Previously, these tests were used in clinical laboratories, where the blood samples of the individual were taken. As there are numerous advancements in the technologies of IVD, there is an increase in demand for IVD in the market.
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Europe is showing consistent growth in the past few years and is anticipated to continue the same in the forecast period.
The major market contributors for the In-vitro diagnostics market are Abbott Laboratories, Johnson and Johnson, Siemens Healthcare, Becton Dickinson, Roche Diagnostics, Beckman Coulter Inc., Biomérieux, Ortho Clinical Diagnostics, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Sysmex Corporation and Thermo Fisher Scientific, Inc.
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