Global In Vitro Diagnostics Market has the potential to touch around $91.3 billion by 2025
Portland, OR -- (SBWIRE) -- 07/25/2017 -- Global In Vitro Diagnostics Market has the potential to touch around $91.3 billion by 2025, growing at a CAGR of 4.5% during 2017-2025 with the North American region being the largest regional market in the forecast period.
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In vitro diagnostics (IVD) is a technique in which medical reagents and devices are used to probe into samples such as urine, blood, stool, tissues and other body fluids, which are derived from the human body to identify, conditions, diseases, and infections. The tests can be performed in stand-alone laboratory, hospital based laboratory and point of care. Microarray techniques, polymerase chain reaction (PCR), mass spectrometry, and sequencing technology that are used for test sample preparation are some of the significant technologies integrated in in vitro diagnostics. Doctors and researchers have been encouraged to shift their focus from traditional diagnostic methods to personalized medicines owing to constant innovations in IVD product design and technology.
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The rise in incidences of chronic and infectious diseases along with growing geriatric population prone to immunological disorders has led to the growing need of IVD testing. Moreover, other factors boosting the growth of IVD market include, increase in the application of personalized medicines and boundless knowledge of rare diseases. In addition, the adoption of IVD devices and reagents is on the rise owing to increasing incidences of colorectal cancer, neurological disorders, and gynecological diseases. On the contrary, strict government regulations and hostile reimbursement policies are likely to hinder the growth of the market. The growth potential for IVD market is huge owing to the rising demand for technologically advanced diagnostic devices and increased disposable income of consumers. Furthermore, technological advancements to develop high sensitivity point-of-care (POC) hematology testing is projected to boost the market growth.
In the report, the In Vitro Diagnostics Market is segmented across different categories such as product type, techniques, application, end users and geography .On the basis of product types, the market is segmented into, instruments, reagents, and services & software. The market is segmented according to different techniques into, blood testing, immunodiagnostics, molecular diagnostics, clinical chemistry, tissue diagnostics, and other clinical techniques. Similarly, based on application, the market is further divided into, cancer, infectious diseases, immune system disorders, cardiac diseases, nephrological diseases, gastrointestinal diseases and other indications. On the basis of end-users, the market is categorized into, hospitals, standalone laboratory, academics & medical schools, point of care and others. The geographical breakdown and detailed analysis of each of the aforesaid segments are included for major regions namely, North America, Europe, Asia-Pacific and LAMEA.
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Table Of Contents:
Chapter: 1 INTRODUCTION
1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology
1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models
Chapter: 2 EXECUTIVE SUMMARY
2.1 CXO perspective
2.2 Market beyond: what to expect by 2027
2.2.1 Base case scenario
2.2.2 Rapid growth scenario
2.2.3 Diminishing growth scenario
Chapter: 3 WORLD IVD MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
Chapter: 4 MARKETBY PRODUCT TYPE, 2015-2022
4.1.1 Market size and forecast