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In Vitro Diagnostics (IVD) Market (Applications, End-Users & Types) Worth $69.1 Billion by 2017

The global market was valued at $49.2 billion in 2012 and is expected to reach $69.1 billion by 2017, at a CAGR of 7% from 2012 to 2017.

 
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Dallas, TX -- (SBWIRE) -- 03/04/2014 -- The “In Vitro Diagnostic (IVD) Market [Instruments, Reagents & Data Management Systems] [Technique (Immunoassay, Clinical Chemistry, Molecular Diagnostics, Haematology) & Applications (Diabetes, Infectious Diseases, Cancer & Cardiology)] Systems, End Users] – Forecast To 2017” analyzes and studies the major market drivers, restraints, and opportunities in Americas, Europe, Japan, BRIC and Rest of the World.

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In the report, the market has been segmented on the basis of technology, product type, application, and end-users. On the basis of technology, the molecular diagnostics market is expected to grow at the highest CAGR from 2012 to 2017.

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The advancements in molecular techniques, increasing awareness and acceptance of personalized medicines, rise in the occurrence of chronic diseases, and the need for the diagnosis of such diseases at early stages are the key factors driving the growth of the molecular diagnostics market. On the other hand, the development of a large variety of reagents and analytical techniques, and inexpensive automated testing known as point-of-care (POC) are the factors leading to the growth in the reagents market.

The oncology diagnostics market is the fastest growing segment in in vitro diagnostic applications. Major players such as Roche Diagnostics, Siemens Healthcare, and Hologic are continuously launching new in vitro diagnostics products for the detection of cancer. In addition, point-of-care (POC) testing is also gaining popularity and is poised to grow at a high single-digit CAGR in the coming years.

In 2012, the Americas had accounted for the largest share of the global in vitro diagnostic market, followed by Europe. However, the BRIC countries represent the fastest-growing markets due to the economic growth, the rising number of chronic diseases, and an increasing awareness about the use of in vitro disgnostic tests to control the spread of diseases. Moreover, the economic slowdown, pricing pressures, and high competition in mature countries will compel companies to focus on emerging markets.

The key players are Abbott Laboratories, Inc. (U.S.), Roche Diagnostics Limited (Switzerland), Becton, Dickson and Company (U.S.), Siemens Healthcare (Germany), Diagnostica Stago SAS (France), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), ARKRAY, Inc. (Japan), Bio-Rad Laboratories, Inc. (U.S.), DiaSorin S.p.A. (Italy), Sysmex Corporation (Japan), bioMérieux (France), HORIBA, Ltd. (Japan), and Alere, Inc. (U.S.).

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