DUBLIN--(BUSINESS WIRE)--The "Global In-Vitro Diagnostics (IVD) Market: Industry Analysis & Outlook (2018-2022)" report has been added to ResearchAndMarkets.com's offering.
The global IVD market is experiencing a lucrative growth due to :
- The rising demand for early and accurate disease diagnosis
- The increasing prevalence of infectious diseases
- The increasing adoption of fully-automated instruments and automation in laboratories
- The increase in adoption of point-of-care testing
- The growing awareness of personalized medicine.
Also, there are various companies developing syndromic testing panels and using human microbiomes in the IVD.
On the basis of technology, the global IVD market remained dominated by immunodiagnostics and blood glucose self-monitoring segments owing to the strong base of older population and diabetic population. On product basis, the reagents acquired a major share in the global IVD market, followed by instruments. Instruments segment would hold a higher share in the coming years due to increasing demand of personalized medicines among patients.
Regionally, North America contributed a major chunk to the global IVD market primarily due to recent introduction of new novel reagents and wide availability of effective and cost-efficient reagents. However, Asia-Pacific region is holding the highest growth rate due to swiftly growing economies of India and China, increase in gross domestic product, and the rising disposable income.
The competitive landscape of global IVD market is quite consolidated with four key players. Due to the strong presence of these companies in the market, new entrants might find it difficult to penetrate the market with their products.
Market Dynamics
Growth Drivers
- Increasing Diabetic Patient Base
- Surge in Incidences of Chronic Ailments
- Increasing Global Healthcare Expenditure
- Increasing Disposable Income
- Growing Geriatric Population
Key Trends & Developments
- Development of Syndromic Panel
- Liquid Biopsy for Cancer Testing
- Applications of Human Microbiome in IVD
Challenges
- Government Regulation for IVD Tests
Companies Mentioned
- Siemens AG
- Roche Holding AG
- Abbott Laboratories
- Danaher Corporation
For more information about this report visit https://www.researchandmarkets.com/research/4lbrf4/global_invitro?w=4
