Boston, MA -- (SBWIRE) -- 06/09/2017 -- IVD Market in BRIC by Product & Service (Instruments, Reagents, Software), Technology (Immunoassay, Hematology, Microbiology), Application (Diabetes, Cardiology, Infectious Diseases), Country (Brazil, Russia, India, China) - Forecast to 2022

The IVD market in BRIC is expected to reach USD 15.71 billion by 2022 from USD 10.60 billion in 2017, at a CAGR of 8.2%. The key factors driving the growth of the market are growing patient awareness of personalized medicine, increasing prevalence of lifestyle and chronic diseases, growth in the number of private diagnostic centers, and improving healthcare system in emerging countries. However, market growth is restrained by the lack of reimbursement and the slow growth of the economy in some emerging countries.

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In this report, the market is segmented by product & service, technology, application, end user, and country. Based on technology, the market is broadly segmented into immunoassays/immunochemistry, clinical chemistry, molecular diagnostics, hematology, clinical microbiology, coagulation & hemostasis, and other technologies. The molecular diagnostics segment is estimated to register the highest CAGR during the forecast period of 2017 to 2022. The rising prevalence of infectious diseases, cancer, and various genetic disorders; growing demand for blood screening; and increasing application of molecular diagnostic technologies in pharmacogenetics and point-of-care testing is expected to drive the growth of the market during the forecast period.

Based on application, the market is segmented into diabetes, infectious diseases, oncology/cancer, cardiology, HIV/AIDS, autoimmune diseases, nephrology, drug testing/pharmacogenomics, and others. The infectious diseases segment accounted for the largest share of the market in 2016, owing to the rising incidence of tuberculosis (TB), hepatitis, and hospital-acquired infections.

Geographically, China dominated the IVD market in BRIC in 2016. The large share of this country can be attributed to rising healthcare expenditure, increasing acceptance of personalized medicine, and increasing awareness towards technologically advanced products in this country. China is also expected to register the highest CAGR, due to the growth in research activities and increasing investments by leading players and government agencies in the country.

Major players in the IVD market in BRIC and other emerging countries are Roche Diagnostics (Switzerland), Abbott Laboratories Inc. (U.S.), Siemens Healthineers (Germany), Danaher Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Sysmex Corporation (Japan), Bio-Rad Laboratories, Inc. (U.S.), bioMerieux (France), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), Ortho-Clinical Diagnostics, Inc. (U.S.), QIAGEN N.V. (Germany), and Diasorin S.P.A. (Italy).

Research Coverage

-Detailed insights on all the submarkets, based on technology (immunoassays/immunochemistry, clinical chemistry, molecular diagnostics, hematology, clinical microbiology, coagulation & hemostasis, and other technologies), this can help market players to identify high growth segments in the IVD market in BRIC and other emerging countries

-The report provides information on BRIC and other emerging countries such as Mexico, Turkey, Chile, Argentina, Colombia, South Korea, Indonesia, Malaysia, Thailand, and Saudi Arabia in this market. This can help the company to assess the competition across emerging countries in a better manner.

-The report also provides information on key players in this market and their growth strategies and recent developments. This can help the company to assess the competition across BRIC and other emerging countries in a better manner.

-Key insights and market sizing for the different end users of the IVD market namely, hospital-based laboratories, clinical/reference laboratories, academic institutes, point-of-care testing, patient self-testing, and other end users.

-BRIC and other emerging country-wise market size and forecast for all the subsegments. The market size numbers provided in the report will also enable market players to identify key geographic markets, and thereby strategize their marketing efforts to achieve sustainable revenue growth in the coming years.

-It provides key insights on market dynamics, such as drivers, restraints, opportunities, and challenges for this market.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies for increasing their market shares.

This report provides insights on the following pointers:

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