The global in vitro diagnostics market (IVD) was valued at $67,111 million in 2019, and is projected to reach $91,093 million at a CAGR of 4.8% from 2020 to 2027. Moreover, other techniques that are used to perform in vitro diagnosis involve clinical chemistry, tissue diagnostics, immunodiagnostics, hematology, and others. For instance, in clinical chemistry various tests are performed in laboratory such as liver panel test, lipid profile, thyroid function test, and others. It also discusses the segmentation analysis based on product type and application that is presented in the report. The major studies, market growth rate, competitive environment, market drivers, trends, concerns, and macroscopic indicators, are all summarized. The report studies the SWOT analysis of each player profiled in this section, their products, production, value, capacity, and other crucial criteria.
In vitro diagnostics (IVD) are defined as medical devices and reagents which are used to examine specimens such as blood, urine, stool, tissues, and other body fluids, which are derived from human body to detect diseases, conditions, and infections. The tests can be performed in stand-alone laboratory, hospital-based laboratory, and point-of-care centers. Some significant technologies incorporated in in vitro diagnostics include polymerase chain reaction (PCR), microarray techniques, sequencing technology, and mass spectrometry, which are used for test sample preparation.
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Furthermore, a thyroid function test is performed by collecting blood from a patient, which is then tested to check the level of thyroid stimulating hormone (TSH) in blood. Similarly, others such as polymerase chain reaction (PCR) are used to detect the presence of infectious diseases such as HIV, hepatitis, and others. In addition, constant innovations related to IVD products, service designs, and technology have encouraged doctors and researchers to shift their focus from traditional diagnostic methods to personalized medicines. For instance, some products that are used to perform various in vitro diagnostic tests using various technologies involve real time PCR detection systems, immunoassay systems, and others.
The major factor that contributes to the growth of the in vitro diagnostic market include surge in number of in vitro diagnostic tests, which is attributable to rise in incidences of chronic and infectious diseases. Furthermore, growth in geriatric population, which is prone to immunological disorders is another major factor that boosts the growth of the market. Moreover, rise in use of personalized medicines in treatment of various chronic diseases such as cancer also fuels the growth of the market. In addition, increase in technological advancements associated with in vitro diagnostic products, technologies, and software & services boosts the market growth. However, stringent government regulations and unfavorable reimbursement policies are anticipated to restrict the growth of the in vitro diagnostics market. On the contrary, high growth rate exhibited by developing economies present lucrative opportunities for key players in the in vitro diagnostics market during the forecast period.
The report segments the market across into product & service, technique, application, end user, and region. On the basis of product & service, the market is segmented into reagents, instruments, and services & software. On the basis of technique, it is categorized into immunodiagnostics, hematology, molecular diagnostics, tissue diagnostics, clinical chemistry, and others. In addition, the immunodiagnostics segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid tests, enzyme-linked immunospot (ELISPOT), radioimmunoassay (RIA), and western blot. Moreover, the ELSIA segment is further divided into chemiluminescence immunoassay (CLIA), fluorescence immunoassay (FIA), and colorimetric immunoassay (CI). Similarly, the molecular diagnostics segment is divided into polymerize chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarray, and others.
The clinical chemistry segment is also further divided basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, specialty chemicals, and others.
On the basis of application, the market segmented into infectious diseases, cancer, cardiac diseases, immune system disorders, nephrological diseases, gastrointestinal diseases, and others. On the basis of end user, it is categorized into standalone laboratories, hospitals, academics & medical schools, point-of-care, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
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The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– This report entails a detailed quantitative analysis along with the current global negative pressure wound therapy devices market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
– The market size and estimations are based on a comprehensive analysis of key developments in the industry.
– A qualitative analysis based on innovative products facilitates strategic business planning.
– The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
– List of key players profiled in the report:
– Abbott Laboratories
– Becton, Dickinson and Company
– bioMerieux SA
– Bio-Rad Laboratories, Inc.
– Danaher Corporation (Beckman Coulter, Inc.)
– F. Hoffmann-La Roche AG
– Siemens AG
– QIAGEN N.V.
– Sysmex Corporation
– Thermo Fisher Scientific, Inc.
– DiaSorin
– Johnson & Johnson
Key Market Segments
– By Product & Serviceo Reagents
o Instruments
o Software and Services
– By Technique
o Immunodiagnostics
– Enzyme-Linked Immunosorbent Assay (ELISA)
– Chemiluminescence Immunoassay (CLIA)
– Fluorescence immunoassay (FIA)
– Colorimetric Immunoassay (CI)
– Rapid Tests
– Enzyme-Linked ImmunoSpot (ELISPOT)
– Radioimmunoassay (RIA)
– Western Blot
o Hematology
o Molecular Diagnostics
– Polymerize Chain Reaction (PCR)
– Isothermal Nucleic Acid Amplification Technology (INAAT)
– Hybridization
– DNA diagnostics
– Microarray
– Others
o Tissue Diagnostics
o Clinical Chemistry
– Basic Metabolic Panel
– Liver Panel
– Lipid Profile
– Thyroid Function Panel
– Electrolyte Panel
– Specialty Chemicals
o Others
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– By Application
o Infectious Diseases
o Cancer
o Cardiac Diseases
o Immune System Disorders
o Nephrological Diseases
o Gastrointestinal Diseases
o Others
– By End User
o Standalone Laboratories
o Hospitals
o Academic & Medical Schools
o Point-of-Care
o Others
– By Region
o North America
– U.S.
– Canada
– Mexico
o Europe
– Germany
– France
– UK
– Italy
– Spain
– Rest of Europe
o Asia-Pacific
– Japan
– China
– India
– Australia
– South Korea
– Rest of Asia-Pacific
o LAMEA
– Brazil
– Saudi Arabia
– South Africa
– Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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