ALBANY, N.Y.--(BUSINESS WIRE)--According to a recent market study released by Transparency Market Research (TMR), the global in vitro diagnostics market had reached a value of US$46.0 billion in 2011. The market is projected to expand at a CAGR of 7.1% during the period from 2012 to 2018 in order to attain an estimated amount of US$74.2 billion by 2018.
Browse Report: http://www.transparencymarketresearch.com/in-vitro-diagnostic-tests.html
The research report is titled “In Vitro Diagnostics Market (Clinical Chemistry, Immunoassay, Diabetes Testing, Blood Testing, Molecular Diagnostics) - Global Industry Analysis, Size, Share, Growth and Forecast, 2012 - 2018” and affirms that the rising patient base suffering from various infections and chronic diseases is the primary cause of the worldwide development of the in vitro diagnostics market. Additionally, the increasing demand for minimally invasive diagnostic devices is acting as a catalyst for market growth.
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Contrastingly, the challenges the In vitro diagnostics market faces due to a poor reimbursement scenario and uncertain regulatory environment restrict the market from developing smoothly. However, the molecular diagnostics market and the epigenomics-based diagnostics market are expected to provide ample opportunities for the expansion of the in vitro diagnostics market across the globe, according to the report.
Press Release: http://www.transparencymarketresearch.com/pressrelease/in-vitro-diagnostic-tests.htm
The report states that the clinical chemistry market accounted for the biggest share of the global in vitro diagnostics market in 2011. However, this market is expected to lose ground to the molecular diagnostics market during the forecast period. Geographically, North America dominated the industry in 2011, holding 40% of the global market. However, Asia Pacific is expected to lead the global market during the forecast period.
Article: http://www.transparencymarketresearch.com/article/in-vitro-diagnostic-tests.htm
Abbott Laboratories Inc., Alere Inc., Bayer AG, and Johnson and Johnson are some of the key participants of the global in vitro diagnostics market profiled in this report.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
