In-Vitro Diagnostics Market Assessment Covering Growth Factors and Upcoming Trends

Author : univdatos
Publish Date : 2021-06-06 04:43:18
In-Vitro Diagnostics Market Assessment Covering Growth Factors and Upcoming Trends

Research report presented by UnivDatos, Emphasis on Product (Reagents, Instruments Services), Techniques (Immunoassay, Clinical Chemistry, SMBG, Molecular Diagnostics, Hematology, Microbiology, Point-of-Care, Hemostasis), Application (Infectious Disease, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Disease, Others), End-Users (Hospitals, Clinics & Labs, Home Care, Others), Usability (Disposable IVD Devices, Reusable IVD Devices) and Geographical analysis (key regions and countries).

As per the research report, Global In-Vitro Diagnostics Market was valued at US$ 68.92 billion in 2018 and is anticipated to reach US$ 98.18 billion by 2025 displaying a reasonable CAGR of 5.24% over the forecast period (2019-2025). In-Vitro Diagnostics (IVDs) are medical instruments and accessories that are used to conduct experiments on samples (such as blood, urine, and tissue) taken from the human body to detect illness, identify a medical condition, avoid disease, and control drug therapies. Due to factors such as the growing geriatric population, the the prevalence of chronic diseases, the increasing growth of Point-of-Care Diagnosis, and technological advancements in In-Vitro Diagnostics technology, the demand for In-Vitro Diagnostics is expected to expand significantly. In the near future, rising demand for Point-of-Care (POC) devices is projected to drive market growth. Furthermore, emerging developments such as biochips and nanobiotechnology, as well as the miniaturisation of microfluidics, are expected to boost demand for PoC devices. These advances have made PoC diagnostic testing more available, and they are expected to speed up and improve test outcomes, fueling overall market development. Investing in unifying technologies in response to evolving reimbursement models and legislation will be a theme in this sector. Government regulations governing the manufacture of IVD goods, on the other hand, would be a significant impediment to the market's development.

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“Reagents dominated the product segment of the global In-Vitro Diagnostics market with 69.0% share in 2018”

The global in-vitro diagnostics market is divided into reagents and Instruments Services based on product form. Because of the high demand for over-the-counter diagnostic testing, as well as increasing demand for tests at non-medical facilities such as homes, the Reagents segment is expected to rise rapidly and to dominate the market by 2025.  

“Immunoassay technique of In-Vitro Diagnostic dominated the market in 2018”

Immunoassay, Clinical Chemistry, SMBG, Molecular Diagnostics, Hematology, Microbiology, Point-of-Care, and Hemostasis are the methods that the global In-Vitro Diagnostics industry is divided into. In 2018, the Immunoassay technique had the highest market share of 24.7 percent, and this is projected to continue during the prediction period 2019-2025. However, due to the demand for such tests at home, Molecular Diagnostics and Point-of-Care research techniques are expected to rise at the fastest CAGR during the study period.

For a detailed analysis of the applications in the In-Vitro Diagnostics Market browse through –

“In-Vitro Diagnostic technology was majorly applied for the treatment or diagnosis of Infectious Disease”

The main uses of In-Vitro Diagnostics technologies include Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, and Autoimmune Diseases. IVD was mostly used to treat and diagnose infectious diseases in 2018. During the forecast period 2019-2025, the segment is projected to grow at a CAGR of 4.89 percent, generating revenue of US$ 33.73 billion by 2025. Oncology care with IVD, on the other hand, is predicted to develop at the fastest pace during the study period.

Browse - Point of Care Testing Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025

“Hospitals were the major end-users of In-Vitro Diagnostic technology in 2018”

The global In-Vitro Diagnostics market is segmented into hospitals, laboratories & laboratories, home care, and other healthcare facilities based on end-users. In 2018, the hospital sector accounted for 47.6% of the market. However, the use of technology for at-home disease care is projected to rise at the fastest CAGR between 2019 and 2025. The segment's development will be aided by the growing elderly population and related diseases.

“Reusable IVD Devices are expected to dominate the usability segment of the global in-vitro diagnostics market during the analyzed period.”

Reusable and disposable IVD products are part of the In-Vitro Diagnostics industry segmented by usability. Reusable IVD Devices have the highest market share in 2018, and this is projected to continue during the estimated span of 2019-2025.

“North America represents one of the largest markets of In-Vitro Diagnostics market globally in 2018”

For a deep-dive analysis of the industry and its adoption rate, detailed regional/country-level analysis was conducted for regions including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, UK and Rest of Europe), Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and Rest of the World (Brazil and Others). North America led the industry in 2018, but an ageing population in Europe and Asia-Pacific will encourage more use of in-vitro diagnostic technologies for disease diagnosis and treatment.

Customization Options:

The Global In-Vitro Diagnostics Market can be customized to the country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

Category : business

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