Sunday, 30 November 2014

Global IVD (In-Vitro Diagnostics) market is expected to grow at a CAGR of more than 6 percent from 2014 to 2020

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The In-Vitro diagnostics are the tests performed outside the human body by isolating blood and tissue specimens for detection of body’s condition, helping in the prevention and control of diseases.

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The global IVD market is expected to grow at a CAGR of more than 6% from 2014 to 2020 to reach a market size of more than $90 by the end of 2020. In the report, the IVD market has been segmented on the basis of techniques, products, applications, and end-users. The market assessment of the above mentioned segments is made across the geographies such as North America, Europe, Asia-Pacific, LATAM and MENA.  Major factors such as technological advancements in the diagnostics, and rising healthcare awareness, increased incidence of chronic and infectious disease, demand for POCT devices are boosting the market growth However, intensified competition, reimbursement issues, and affordability of healthcare diagnostics are hindering the IVD market growth.

The global IVD market by technique is segmented into clinical chemistry, Immunochemistry or Immunoassay, haematology, coagulation, microbiology, molecular diagnostics and other clinical instruments. Immunochemistry or Immunoassay accounted for the largest share in 2013 and is growing at a steady pace. Whereas, molecular diagnostics market segment is expected to register the highest CAGR of more than 9% from 2014 to 2020. IVD products market is categorized based on instruments, reagents, data management software/hardware and services. Reagents market commanded the largest share in 2013 and is expected to grow at the highest CAGR of more than 7% during the forecast period.

The global IVD market by application is segmented into infectious disease, oncology, diabetes, cardiology, nephrology, autoimmune disease, HIV/AIDS, drug testing, and others. Infectious disease commanded the largest share in 2013 and is expected to grow strong, whereas oncology segment is expected to register the highest CAGR during the forecast period. IVD market by end-users is sub segmented into laboratory, hospitals, academics and patient self-testing. Hospital accounted for the largest market of $25.5 billion in 2013 and is expected to reach $41.9 billion by 2020 at a CAGR of 6.4%.

Depending on geography, IVD market is divided into North America, Europe, Asia-Pacific and Rest of the world. North America commanded the largest share in 2013 and is expected to grow strong. However, Asia-pacific region is expected to register the highest CAGR of more than 8% from 2014 to 2020. The highest CAGR was mainly attributed to rising healthcare awareness, enhanced economic growth and increasing disposable incomes.

Some of the leading players in IVD market are Bio-Rad Laboratories (U.S.), Becton, Dickinson And Company (U.S.), Roche Diagnostics Limited (Switzerland), Bayer AG (Germany), Sysmex Corporation (Japan), Alere (U.S.), Abbott Laboratories Inc (Illinois), Siemens Healthcare (Germany), Johnson & Johnson (USA), Danaher Corporation (U.S.), Biomerieux (France).

The global IVD market report evaluated detailed information about the market trends of diverse segmentation. Further market dynamics, along with challenges, and
opportunities are described.

This report provides an in-depth market assessment across the below listed segments:

1. Global IN-VITRO Diagnostics Markets, by Products:
Data Management System Hardware and software

2. Global IN-VITRO Diagnostics Market, by Technology:
Clinical chemistry
Molecular Diagnostics
Other clinical instruments

3. Global IN-VITRO Diagnostics Market, by Applications:
Infectious Disease
Autoimmune Diseases
Drug Testing

4. Global Immunoassays Market, by End-users:
Patient Self Testing

5. Global Immunoassays Market, by Geography:
North America
Rest of World (LATAM, MINA and others)

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