Portland, OR -- (SBWIRE) -- 11/30/2017 -- The global in vitro diagnostics market has the potential to garner around $91.3 billion by 2025, registering a CAGR of 4.5% from 2017 to 2025. North American region will be the largest regional market during the forecast period. In vitro diagnostics (IVD) is a technique that involves use of medical reagents and devices to examine samples of tissues, urine, stool, blood, and other body fluids for determination of diseases and infections.

The tests are conducted in hospital based laboratory, stand-alone laboratory, and point of care testing centers. Microarray techniques, mass spectrometry, polymerase chain reaction (PCR), and sequencing technology are some of the significant technologies used for test sample preparation. Doctors and researchers have shifted their focus from traditional diagnostic methods to personalized medicines owing to continuous innovation in IVD product design and technologies.

The rise in incidences of chronic & infectious diseases along with growth in aging population subjected to immunological disorders have led to increasing need of IVD testing. Moreover, knowledge of rare diseases and increase in applications of personalized medicines supplement the growth of the IVD market. Adoption of IVD devices and reagents is rising due to increase in incidences of neurological disorders, colorectal cancer, and gynecological diseases. On the other hand, hostile reimbursement policies and strict government regulations would hinder the growth in the market. Rise in demand for technologically advanced diagnostic devices and growth in disposable income of consumers create new avenues in the industry. Moreover, technological advancements for development of high sensitivity point-of-care (POC) hematology testing would boost the market growth.

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The IVD market is segmented into product type, technique, end users, application, and geography. Based on product type, the market is classified into reagents, instruments, and services & software. The technique segment is further classified into blood testing, immunodiagnostics, molecular diagnostics, clinical chemistry, tissue diagnostics, and other clinical techniques. Based on application, it is further divided into infectious diseases, cancer, cardiac diseases, immune system disorders, gastrointestinal diseases, nephrological diseases, and other indications. On the basis of end-users, it is categorized into standalone laboratory, hospitals, point of care, academics & medical schools, and others. The regional breakdown and detailed analysis of each of the aforementioned segments are included for regions namely, North America, Asia-Pacific, Europe, and LAMEA.

Key market players in the IVD market have implemented key strategies, such as product launch, expansion, and acquisition to expand their market presence. For instance, the new Cobas c513 analyzer was launched Roche Diagnostic in October 2015. HbA1c testing for risk identification, diagnosis, and monitoring of diabetic patients are benefits of it. Leading industry players have adopted acquisition of small diagnostic devices and reagents providers as their strategy to strengthen their market presence. For instance, Pall Corporation was acquired by Danaher Corporation in August 2015. This move was aimed to raise expertise of Danaher Corporation in life science and diagnostic market. Abbott, Roche diagnostics, and Danaher Corporation are some of the key companies operating in the IVD market.

Other prominent companies include Johnson and Johnson, Sysmex Corporation, Becton Dickinson, bioMrieux, Siemens AGand Alere Inc., Thermo Fisher Scientific, Inc., and Ortho-Clinical Diagnostics. Comprehensive competitive analysis and profiles of key market players mentioned above are offered in the report.

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KEY BENEFITS FOR STAKEHOLDERS:

This report offers a comprehensive analysis of the current trends and changing dynamics in the world IVD market.

Geographically, the world IVD market is segmented into North America, Europe, Asia-Pacific and LAMEA.
This report offers an in-depth quantitative analysis of the current market and estimations from 2016 to 2025 to assist in identification of market opportunities.

Extensive analysis of the world IVD market based on techniques helps in understanding various IVD testing techniques which will gain popularity in the future.

Competitive scenario highlights the business practices adopted by leading market players across different geographies.